• 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 (Reuters)
• Google reports Q2 free cash flow at negative $5.9B amid increased AI spending, marking its first cash burn since going public decades ago (Ryan McMorrow/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 (Financial Times)
• 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 (Sophia Cai/Politico)
• 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 (CoinDesk)
• 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 (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 (Julia Love/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 (Brody Ford/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 (Nicola M White/Bloomberg)
• Google says Gemini now has 950M MAUs, up from 900M in May and 750M in February (Emma Roth/The Verge)
• 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 (Jordan Novet/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 (CJ Haddad/CNBC)
• 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 (Todd Spangler/Variety)
• 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 (Alphabet)
• 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 (Shirin Ghaffary/Bloomberg)
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