SemiAnalysis:
Meta's infrastructure teams have become bloated, leading to poor decisions like troubled Rivos acquisition, loss of supplier trust due to hardware pivots, more  —  Meta Infrastructure has become bloated, with middle managers expending resources on over-engineered technology solutions that lose sight of broader organizational needs.

Reuters:
Tesla reports a negative Q2 free cash flow of $1.1B, its first in over two years, partly due to increased AI and robotic investments, amid diminishing profits  —  Tesla (TSLA.O) on Wednesday missed analysts' profit forecasts for the second quarter and, for the first time in more than two years …

Ryan McMorrow / Financial Times:
Google reports Q2 free cash flow at negative $5.9B amid increased AI spending, marking its first cash burn since going public decades ago  —  Search giant says it will commit up to $205bn to AI investments in 2026  —  Google burned through cash in the second quarter for the first time since …

Financial Times:
Sources: OpenAI staff were “freaked out” when GPT-Sol 5.6 breached Hugging Face, as OpenAI used more aggressive training methods to compete with Anthropic  —  Increasing use of aggressive training techniques sharpens threat of bad behaviour by leading models

Sophia Cai / Politico:
The Little Tech Association, a new group of ~200 companies across the startup community, including Y Combinator, urges Trump not to ban Chinese open-weight AI  —  Almost 200 Silicon Valley companies, including Proton and Y-Combinator, are urging the Trump administration not to cut off access …

CoinDesk:
Movement Labs, a layer-2 Ethereum blockchain developer, files for Chapter 11 bankruptcy after a period of upheaval that included a token scandal and Binance ban  —  Movement Labs, the developer behind the Movement blockchain, has filed for Chapter 11 bankruptcy, marking the latest setback …

Julia Love / Bloomberg:
Google projects full-year capex will be $195B to $205B in 2026, after saying in April that it will spend as much as $190B; its Q2 capex hit $44.92B, up 100% YoY  —  Alphabet Inc. projected full-year capital expenditures will be $195 billion to $205 billion in 2026, increasing …

Julia Love / Bloomberg:
Google says its cloud computing unit had a $514B backlog of contracted work that hasn't been recorded as revenue yet, up from ~$460B held during Q1  —  Alphabet Inc. said its cloud computing unit had a $514 billion backlog of contracted work that hasn't been recorded as revenue yet …

Brody Ford / Bloomberg:
ServiceNow reports Q2 subscription revenue up 24.5% YoY to $3.88B, increases full year subscription revenue growth estimate to 23%; NOW jumps 4%+ after hours  —  ServiceNow Inc. reported better-than-expected quarterly sales and bookings, boosting Wall Street's hopes that the software maker's …

Nicola M White / Bloomberg:
The SEC agrees to pay $150,000 in legal fees to end Coinbase's 2024 lawsuit seeking internal docs on the regulator's Biden-era crackdown on the crypto industry  —  The US Securities and Exchange Commission agreed to pay $150,000 in legal fees to end Coinbase Global Inc.'s 2024 lawsuit seeking …

Emma Roth / The Verge:
Google says Gemini now has 950M MAUs, up from 900M in May and 750M in February  —  Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.

Jordan Novet / CNBC:
IBM reports Q2 revenue up 1% YoY to $17.2B, vs. $17.6B est., infrastructure revenue down 7% to $3.8B, Z mainframe revenue down 42%, and lowers its 2026 forecast  —  IBM on Wednesday lowered its 2026 forecast and delivered thinner quarterly profits than analysts had projected …

CJ Haddad / CNBC:
Reddit's stock closed down 8.32% after a report that the company was considering ending Google's access to its content for AI training; RDDT is down ~26% YTD  —  Shares of Reddit slid 9% on Wednesday after the Wall Street Journal reported the company has discussed shutting off Google's access …

Todd Spangler / Variety:
Alphabet reports YouTube's Q2 ad revenue rose 13% YoY to $11.06B, vs. $10.8B est., and Google's ad revenue reached $81.63B, up from $71.34B in Q2 2025  —  Video giant YouTube, one of the world's biggest entertainment businesses, continues to turn in double-digit increases in ad revenue.

Alphabet:
Alphabet reports Q2 revenue up 24% YoY to $119.8B, above $116.9B est., Google Cloud revenue up 82% YoY to $24.8B, and Services revenues up 15% to $94.5B  —  MOUNTAIN VIEW, Calif. - July 22, 2026 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2026.

Shirin Ghaffary / Bloomberg:
OpenAI President Greg Brockman says Kimi K3 is a “pretty good model” but it is “too early” to tell whether Moonshot used distillation on OpenAI's models  —  OpenAI President Greg Brockman acknowledged that Moonshot AI had developed a competitive new artificial intelligence model …

Yueqi Yang / The Information:
Source: Stripe revenue jumped by a third to $6.8B in 2025, its fastest revenue growth since 2021, with free cash flow up 52% to $3.2B  —  Stripe is coming off a banner year thanks to booming growth in the AI sector, where the company processes payments for big AI labs and small developers alike.

Sean O'Kane / TechCrunch:
Travis Kalanick's robotics startup Atoms raised $1.7B led by a16z, with Uber and others participating; Ben Horowitz will join the startup's board  —  Travis Kalanick's robotics company, Atoms, has raised $1.7 billion in a funding round led by Andreessen Horowitz.

New York Times:
A Florida teenager drops his lawsuit accusing Meta of creating harmful social media features, following settlements with co-defendants TikTok, Snap, and YouTube  —  For Meta, the move was a reprieve after it and YouTube were found guilty in another case in March of negligence and personal injury for their platforms' addictive features.

Sarah Perez / TechCrunch:
Yope, a social network that has ~15M registered users for its “micro communities” and no algorithms, ads, or public content, raised $12.3M seed led by Northzone  —  As social media has evolved from a place to connect with friends into large-scale entertainment platforms …