Techmeme

CNBC : SpaceX closed up 4.8% on Tuesday with a $2.65T market cap, just above Amazon's, after popping ~12% intraday and briefly overtaking Microsoft's $2.93T market cap —  SpaceX shares popped about 12% on Tuesday, as Elon Musk's rocket builder continued its meteoric rise following a record-breaking IPO on Friday.

Ben Weiss / Fortune : Sources: PayPal to shutter its 10-year-old PayPal Ventures arm amid a broader shakeup under a new CEO and has hired Jefferies to explore selling some positions —  PayPal is shuttering its 10-year-old venture team amid a broader corporate shakeup, according to five sources familiar with the matter.

Tegan Jones / SmartCompany : Melbourne-based Everlab, which is building an AI-powered preventive healthcare platform, raised a AU$65M Series A led by Airtree Ventures —  Melbourne healthtech startup Everlab has raised $65 million in Series A funding led by Airtree Ventures as it expands its preventative healthcare platform into global markets.

Ivan Mehta / TechCrunch : Sensor Tower: ChatGPT's market share fell to 46.4% by the end of May, as Gemini rose to 27.7% and Claude to 10.3%; Grok, Meta AI, and others have less than 5% —  More than three and a half years after ChatGPT's initial release, AI assistants are now used by millions of people worldwide, and the competitive landscape is changing fast.

Z.ai : Z.ai debuts GLM-5.2, saying it has significant improvements for coding, agentic, and long-horizon tasks, with a 1M context window and MIT-licensed open weights —  We're introducing GLM-5.2, our latest flagship model for long-horizon tasks.  It marks a substantial leap in long-horizon task capability …

Sarah Perez / TechCrunch : Google launches Android 17 and Wear OS 7, first on Pixel devices, with support for the latest AI models, a bubble bar UI, and live updates on Wear OS —  Google on Tuesday released the final version of its Android 17 operating system, as well as its counterpart for smartwatches, Wear OS 7.

David Heaney / UploadVR : Qualcomm announces Snapdragon Reality Elite, its new flagship XR chipset, debuting in the compute puck of Xreal's Aura Android XR device this fall —  Qualcomm just announced Snapdragon Reality Elite, its new flagship XR chipset, and it will debut in the compute puck of Xreal's Aura Android XR device this fall.

Sara Fischer / Axios : Letter: Hightouch, an ad tech startup recently valued at $2.75B, offers to buy LiveRamp's identity business from Publicis for $800M to $1.2B in cash and stock —  Hightouch, an ad tech startup recently valued at $2.75 billion, has offered to buy LiveRamp's identity business from ad holding group Publicis …

Harry McCracken / Fast Company : A look at Specs, which have a battery life of up to four hours per charge, and an interview with Snap CEO Evan Spiegel about the AR glasses —  Snap's cofounder and CEO, Evan Spiegel, gave this morning's keynote at AWE, the augmented reality industry's big annual conference.

Jay Peters / The Verge : Snap unveils $2,195 Specs, its first AR glasses that are “fully standalone” and have a 51-degree field of view, expected “this fall” in the US, UK, and France —  The new Specs are priced at $2,195, and you can preorder them starting today.

Jason Schreier / Bloomberg : Sources: several Xbox studios, including Hellblade maker Ninja Theory, are in talks with Microsoft to buy themselves back and go independent to avoid closure —  The studios, which include Compulsion Games and Double Fine, are in active negotiations with Xbox and may be given the chance to go independent.

The Information : Source: Qualcomm is in talks to buy AI chip designer Tenstorrent for $8B to $10B; Tenstorrent discussed raising $800M at a ~$3.2B valuation last year —  Qualcomm has been in talks to buy Tenstorrent, a startup that designs chips for AI, according to a person with direct knowledge of the deal.

Brian Thomas / OpenRouter Blog : OpenRouter debuts Fusion, a tool for prompting multiple AI models in parallel, claiming it can achieve “Fable-level intelligence at half the price” —  We've found that synthesizing the results of multiple models can significantly outperform what individual models are capable of.

Arjun Kharpal / CNBC : SpaceX stock closed up 19.6% on Monday, its first full day of trading; Musk said it “might be able to reach” around $1T revenue in 2030, up from $18.7B in 2025 —  SpaceX shares climbed 20% on Monday, the first full day of trading following a record-breaking debut last week on the Nasdaq.

Lauren Forristal / TechCrunch : Meta launches new AI features, including an “AI Mode” for search that uses Meta AI to surface answers pulled from public posts across Facebook —  As Meta tries to catch up in the AI race and boost engagement with its AI bot, the company announced Monday that it's rolling …

Steven Rosenbush / Wall Street Journal : Arcade, which helps companies manage which actions AI agents are authorized to take, raised a $60M Series A led by SYN Ventures, following a $12M seed in 2025 —  The startup aims to help companies manage the challenge of determining which actions AI agents are authorized to take

Jonathan Stempel / Reuters : A US judge dismisses xAI's lawsuit alleging OpenAI stole trade secrets, saying xAI failed to show OpenAI induced a former xAI engineer to divulge trade secrets —  A federal judge on Monday dismissed a lawsuit by Elon Musk's artificial intelligence company xAI that accused rival Sam Altman's OpenAI …

Ben Thompson / Stratechery : Anthropic's belief in its own commitment to safety gives Anthropic the license to aggressively favor its business and even challenge the US government —  I'm sympathetic to the cynics who consistently characterize Anthropic's public statements, particularly those surrounding their model releases …

Natalie Breymeyer / Axios : Radical Numerics, which is developing AI models that learn directly from biological data, raised a $50M seed led by Emergence Capital —  Radical Numerics, an AI research lab for biological data, raised a $50 million seed round, CEO Eric Nguyen tells Axios.

Financial Times : Source: Anthropic was given 90 minutes to comply and was not provided with detailed concerns before the export control order was issued —  Export controls on Fable and Mythos raise doubts over how US will police the most powerful AI systems  —  The Trump administration's decision …