Tata's chairman predicts AI agents will cut half the jobs at Tata Consultancy Services, and says TCS plans to reduce hiring in coming years as it ramps up AI (Sankalp Phartiyal/Bloomberg)

Techmeme

Sources: Chinese companies like Moonshot are reconsidering "red-chip" structures, which made it easier to list overseas, after China blocked the Manus deal (Financial Times)

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Morgan Stanley forecasts global AI debt issuance will more than double to ~$570B in 2026, as hyperscalers seek alternative funding for AI capex needs (Kanishka Ajmera/Reuters)

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A look at Unitree's growth strategy, which mimics those used by BYD and DJI, and leverages its quadruped robot dominance to create and lead the humanoid market (SemiAnalysis)

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Las Vegas-based TensorWave, which offers AMD-powered cloud infrastructure, raised a $350M Series B led by AMD and Magnetar at a $1.55B post-money valuation (Robbie Whelan/Wall Street Journal)

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Sources: SpaceX has drawn more than $250B of investor demand for what is poised to be the largest-ever IPO, far beyond the $75B SpaceX is aiming to raise (Reuters)

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Sources: SK Hynix plans to list its shares in the US as soon as August, seeking to capitalize on AI stock demand and broaden its investor base (Reuters)

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Sources: Ant International is considering raising ~$1B at a $10B+ valuation, paving the way for a potential Hong Kong IPO as soon as this year (Bloomberg)

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Swedish autonomous truck company Einride will debut on the Nasdaq today after completing a SPAC merger at a pre-money valuation of $1.35B (Dominic Chopping/Wall Street Journal)

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Xbox chief strategy officer Matthew Ball said Game Pass lost "millions" of subscribers in the months following a 50% price hike announced in October 2025 (Eddie Makuch/GameSpot)

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Sixteen economists on what AI will mean for the US economy, workers, and workplaces: AI will boost productivity in the near term, but only two expect more jobs (Wall Street Journal)

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An expert panel with Daron Acemoglu, Dean Ball, Ethan Mollick, and Clara Shih discusses AI's impact on jobs and how to prepare for the future of work (New York Times)

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Walmart outlined a future where AI will change how people work, not necessarily how many work, at its annual Associates Week, as it accelerates AI adoption (Gregory Meyer/Financial Times)

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Microsoft's June 2026 Patch Tuesday fixes a record ~200 Windows security flaws, nearly three dozen of them critical, amid growing use of AI to find bugs (Brian Krebs/Krebs on Security)

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The crackdown on online scam centers in Cambodia is leading some gangs to relocate to Sri Lanka, where authorities say they have arrested 1,000+ people in 2026 (Bloomberg)

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Chinese investors are using tokenized stocks bought with stablecoins like USDT to bypass Beijing's capital controls and mimic bets on hot US IPOs like SpaceX (Financial Times)

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ASML's stock is up 64% YTD, but trails the broader US chip sector as the industry focuses spending on processes outside of lithography like advanced packaging (Bloomberg)

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Sources: the ECB temporarily barred Revolut from releasing new products in the European Economic Area last summer until the company had rectified "deficiencies" (Financial Times)

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Sources: OpenAI is in advanced talks to lease a proposed 10GW data center campus in Ohio as part of a deal that could include financial backing from Nvidia (Anissa Gardizy/The Information)

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Nintendo's shares fell as much as 8.2% Wednesday morning in Tokyo after its 2026 Game Showcase came up short on new titles from major franchises such as Mario (Takashi Mochizuki/Bloomberg)

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Meta partners with Reliance to lease its first AI data center in India, with 168 MW capacity; separately, Meta says it has contracted ~1GW of renewable energy (Meta Newsroom)

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Sources: Trump administration officials have told CAISI to halt publication of its model assessments while an EO President Trump signed last week is implemented (Amrith Ramkumar/Wall Street Journal)

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The EU warns that AI-boosted chemical synthesis is helping European drug gangs develop new "designer" drug precursors that evade existing product blacklists (Michael Peel/Financial Times)

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Edge Markets, which provides banking tools for gambling and prediction markets, including real-time payments on Kalshi, raised a $29.2M Series A led by CoinFund (Davis Giangiulio/CNBC)

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Sources: SoftBank's talks with creditors to raise $6B through a margin loan backed by its OpenAI stake have stalled, weeks after it cut its target from $10B (Bloomberg)

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Stepful, an AI-powered online training platform for healthcare workers, raised a $55M Series C led by Oak HC/FT, bringing its total funding to $105M (Heather Landi/Fierce Healthcare)

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Seattle City Council votes 9-0 to enact a one-year moratorium on new large data centers and study their impact; Mayor Katie Wilson is expected to sign the bill (Greg Kim/The Seattle Times)

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CoreWeave founders have sold $2.3B in stock since the company's lockup period expired in August after a March 2025 IPO, reducing their combined holdings by ~25% (Ella Feldman/Bloomberg)

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ServiceNow says attackers exploited a flaw, patched on June 5, that let unauthenticated users query data from customer instances, but gives few other details (Lawrence Abrams/BleepingComputer)

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Sources: SpaceX aims to launch orbital AI computing tests by late 2027 and has requested permission from regulators to launch up to 1M data-center satellites (Akash Sriram/Reuters)

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Super Micro Computer aims to raise $7B in a series of equity and equity-linked financing transactions to fund its component purchases to satisfy AI orders (Harshita Mary Varghese/Reuters)

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Analysis: Trump and his sons profited $2.3B+ from four crypto ventures including $TRUMP since January 2025, while other investors in those projects lost ~$2.3B (Reuters)

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Docs: ~34K Instagram accounts, including Obama's White House account, were affected in the attack tied to Meta's AI chatbot; 3,500+ usernames were changed (New York Times)

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Anthropic says Fable 5 has invisible safeguards that use prompt modification, steering vectors, or PEFT to limit its effectiveness for frontier LLM development (Matthias Bastian/The Decoder)

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Hands-on with Claude Fable 5: impressive results with complex projects, including a data analysis tool built in just 9.5 hours and an interactive isochrone map (Ethan Mollick/One Useful Thing)

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Kalshi plans to require users seeking to make bets in some markets linked to material nonpublic information to submit an online form disclosing where they work (Wall Street Journal)

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Apple says 79% of all iPhones and 86% of iPhones released in the last four years were running iOS 26 as of June 7, vs. 82% and 88% for iOS 18 before WWDC 2025 (Joe Rossignol/MacRumors)

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Sources: Canadian payments company Nuvei is in advanced talks to acquire cross-border payments company Payoneer Global for about $2.7B (Milana Vinn/Reuters)

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A US judge cancels a Mississippi trial and disqualifies and fines lawyers on both sides after finding their filings were filled with hallucinated case citations (Jason Koebler/404 Media)

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Anthropic says internal and external red team tests of Fable 5 found no universal jailbreaks; it will keep user traffic for 30 days, aligning with Trump's AI EO (Derek B. Johnson/CyberScoop)

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Anthropic says Fable 5 uses conservative safety classifiers that trigger a fallback to Claude Opus 4.8 in ~5% of sessions, in areas like cybersecurity (Anthropic)