• Syntun: online sales during China's 618 shopping festival grew 4% YoY, a sharp drop from 15.2% growth last year, amid a persistent consumer spending slowdown (Evelyn Cheng/CNBC)
• Eli Lilly plans to use its $7.3B cash reserve to fund an "App Store" for biotech scientists after launching a data center with 1,016 Blackwell chips in 2025 (Patrick Temple-West/Financial Times)
• OpenAI debuts at Cannes Lions, pitching its new ChatGPT ad business and Codex to marketers, as it tries to build a multibillion-dollar business ahead of an IPO (Financial Times)
• A US NLRB judge ruled that Amazon violated federal law by not recognizing the Teamsters union at a SF warehouse and must collectively bargain with the workers (Josh Eidelson/Bloomberg)
• Real estate professionals are increasingly using AI-powered virtual staging tools like Stuccco and BoxBrownie to create misleading house and apartment listings (Gaby Del Valle/The Verge)
• Sources: Qualcomm is in advanced talks to acquire Modular in a transaction valuing the AI chip startup at ~$4B, up from a $1.6B valuation in September 2025 (Bloomberg)
• Filing: Oracle's global workforce fell by 21,000 employees in the past 12 months to 141,000 as of May 31; the company says AI adoption has led to reductions (Brody Ford/Bloomberg)
• President Trump signs two executive orders aimed at speeding the development of advanced quantum computers and mitigating the security threats they present (Amrith Ramkumar/Wall Street Journal)
• Meta says it is pausing its employee input tracking program after internal security issues exposed potentially sensitive data meant to train AI models (Wired)
• Air Space Intelligence won an $875M, 12-year FAA contract to develop AI tools that map flight trajectories and identify areas of congestion to reduce delays (Allyson Versprille/Bloomberg)
• Sakana AI launches Fugu, a multi-agent orchestration system accessible through a single model API, claiming Fugu Ultra matches Fable and Mythos on benchmarks (Carl Franzen/VentureBeat)
• Sources: Vimeo owner Bending Spoons seeks to raise ~$1.62B in a US IPO, selling 58M shares at $26 to $28 apiece, at a valuation of $19B at the top of the range (Echo Wang/Reuters)
• Valve Steam Machine review: small and quiet, runs PC games well on a TV, but nearly twice the price of a PS5 for PS5 performance and needs manual configuration (Sean Hollister/The Verge)
• Valve's Steam Machine, its new living room Linux PC, will start at $1,049 for the 512GB base model without a controller, and will go on sale starting June 29 (Jay Peters/The Verge)
• OpenAI unveils an updated GPT-5.5-Cyber model, launches the Patch the Planet initiative in partnership with Trail of Bits to fix open source bugs, and more (Lily Hay Newman/Wired)
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