Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition, we are tackling the following:

🧠 OpenAI releases two open-weight models under Apache 2.0 after years of silence.
🎮 Google’s Genie 3 model creates real-time interactive 3D games from simple prompts.
💼 Palantir reports its first $1B quarter, with AI demand fueling commercial growth.
🌊 Beijing evacuates 70K as deadly floods push emergency systems to the brink.
⚖️ NYT demands 120M ChatGPT chats in a copyright lawsuit against OpenAI.

TECHNOLOGY

• OpenAI just released its first open-weight models since GPT-2

  • OpenAI released two open-weight models, gpt-oss-120b and gpt-oss-20b, under Apache 2.0 for full offline use and customization.

  • The larger model rivals Meta’s best open alternatives, while the smaller runs locally on devices with 16 GB of RAM.

  • This marks OpenAI’s first open-weight release in years, signaling a shift toward transparency and competitive parity in open AI.

• Google’s Genie 3 model generates real-time interactive 3D game-like worlds

  • Genie 3 creates playable 3D environments from text prompts, offering several minutes of smooth 720p navigation at 24 fps.

  • It maintains object memory for around a minute, helping preserve continuity and realism in generated scenes.

  • The model supports ‘promptable’ dynamic changes and is currently limited to research partners and trusted creators.

• Qwen-Image is a new, powerful open-source AI image generator

  • Qwen-Image excels at embedding readable English and Chinese text, outperforming many rivals in clarity and typography control.

  • It’s built on a 20-billion-parameter architecture and offers high-quality image generation, editing, and multilingual layout accuracy.

  • Released under a permissive license, it aims to accelerate creative tools for global users and open-source AI developers.

BUSINESS

• White House to target banks as Trump claims discrimination

  • The White House is preparing an executive order directing regulators to examine banks for politicized or unlawful debanking practices.

  • President Trump claims banks, including JPMorgan and Bank of America, refused his deposits and discriminate against conservatives.

  • The proposed action may penalize financial institutions that deny services for political reasons amid debate over reputational risk.

• Linda Yaccarino joins health‑tech platform eMed as CEO after leaving X

  • Linda Yaccarino becomes CEO of eMed Population Health, a telehealth startup supporting patients using GLP‑1 weight‑loss medications.

  • She joins eMed shortly after stepping down from X, bringing expertise in partnerships and advertising to healthcare technology transformation.

  • The Miami‑based company aims to integrate digital tools and lifestyle data into patient care, leveraging its leadership to scale swiftly.

• Palantir achieves first $1 billion quarter as AI drives efficiencies

  • Palantir posted over $1 billion in Q2 revenue, a nearly 48 % year‑over‑year increase powered by AI platform demand and growth.

  • U.S. commercial revenue surged 93 % while government business rose 53 %, lifting total U.S. share to about 73 % of sales.

  • CEO Alex Karp described the scale‑up as a “crazy, efficient revolution,” aiming for tenfold revenue growth with leaner staffing.

MARKETS

WORLD

• Sweden, Norway, and Denmark give $500 million to the NATO project to send US weapons to Ukraine

  • Sweden, Norway, and Denmark pledged about $500 million to NATO’s PURL initiative to supply U.S. air defence systems.

  • Sweden contributes $275 million, Norway $146 million, and Denmark $90 million, enabling the rapid delivery of critical defense materiel.

  • Zelenskiy praised the action as foundational for long‑term European security and strengthened NATO‑U.S. collaboration.

• Beijing evacuates residents, expands storm alert as deadly floods keep city on edge

  • Beijing relocated over 70,000 residents after recent floods killed dozens and raised its emergency alert to the highest level across all districts.

  • Forecasters warn that up to 200 mm of rain may fall within six hours, hitting the city of 22 million with unprecedented intensity.

  • Authorities reinforced flood defences, suspended underground operations, and restricted access to outdoor sites.

• World in $1.5 trillion ‘plastics crisis’ hitting health from infancy to old age, report warns

  • A Lancet review identifies a plastics‑driven health crisis costing at least $1.5 trillion annually, with impacts spanning infancy through old age.

  • Plastic production has increased over 200‑fold since 1950; less than ten percent is recycle,d and pollution now pervades all ecosystems.

  • The report urges global action and a plastics treaty, as negotiations in Geneva stall amid opposition from petro‑producing states.

CONTENT

• Marc Andreessen: The US is in an AI arms race

  • Marc Andreessen says AI and robotics could reignite U.S. manufacturing and help bridge the rural-urban economic divide.

  • He explains how tariff history, immigration policy, and education systems shape AI readiness, especially for underserved regions.

  • Robotics is positioned as the largest future industry, but regulatory and institutional bottlenecks still block nationwide industrial transformation.

• How Claude Code ranked me FIRST on Google

  • James used Claude Code and local SEO tactics to create a diesel repair website that ranked first on Google.

  • He explains how to identify keywords, run site audits, and optimize content without web or SEO experience.

  • Greg and James show how AI plus simple design tools like Figma and Anima can replace entire SEO agencies.

• How to live a dope life

  • Tim Ferriss explores creativity, lifestyle sampling, and how to stay curious and energized through structured and unscripted days.

  • He talks about thinking nonlinearly, using analog tools, and finding joy in experiments rather than rigid optimization.

  • The episode dives into new health trends, podcast lessons, and how to attract people who align with your values.

FUTURISM

• Two Chinese nationals charged with illegally shipping Nvidia AI chips to China

  • Two individuals were arrested for exporting restricted Nvidia chips to China, including H100s and RTX 4090s, without proper U.S. licenses.

  • Their company shipped at least 20 illegal orders via Singapore and Malaysia, mislabeling destinations and using fake business documents.

  • One suspect remains in custody pending a hearing, while the other was released on bond under strict export control monitoring.

• AI is already driving up unemployment among young tech workers, according to Goldman Sachs

  • Unemployment among U.S. tech workers aged 20 to 30 has surged since 2024, rising nearly three percentage points overall.

  • Entry-level roles have been hit hardest by AI adoption, particularly since the release of generative models like ChatGPT.

  • Goldman warns that 6–7% of U.S. jobs may be impacted over the next decade, with early-career workers most vulnerable.

• NYT demands 120 million ChatGPT user chats in copyright suit

  • The New York Times is requesting 120 million user chats to support its claims in a major copyright lawsuit against OpenAI.

  • OpenAI responded with a 20 million record offer, citing technical and privacy challenges in processing larger datasets.

  • A private conference on August 7 will determine whether a compromise can be reached before the dispute heads to court.

EXTRAS

• Trump says the US will levy a 100 % tariff on some chip imports

  • Trump plans to impose a 100 % tariff on semiconductors from countries not manufacture chips within the United States.

  • Companies that build chip facilities in the U.S. will be exempt unless they fail to deliver on construction commitments.

  • The move builds on 2022 subsidy laws and aims to boost domestic chip production and reduce foreign tech dependency.

• Lyft reports record Q2 results with $1.6B revenue and strong profitability

  • Lyft posted $1.6 billion in revenue for Q2, up 11 %, driven by demand and strategic international expansion.

  • Net income rose to $40.3 million from $5 million last year, reflecting stronger margins and disciplined cost control.

  • The company finalized its Freenow acquisition and reported significant adjusted EBITDA gains across its global mobility network.

• OpenAI is practically giving ChatGPT to the government for free

  • OpenAI will charge just $1 per agency for one year of ChatGPT Enterprise access across the U.S. federal government.

  • Agencies will receive unlimited GPT-4 access for 60 days, including onboarding, support services, and private government-only groups.

  • The initiative positions OpenAI to dominate federal AI contracts by undercutting rivals and accelerating government-wide model adoption.

AND MORE

• Wall Street ends lower as tariffs dent results and economic outlook amidst weaker data.

• Oil prices fall to a five‑week low as OPEC+ boosts output despite demand worries.

• Unemployment rises to 4.2% as job creation stalls nationwide.

• Asian factories report declining output due to U.S. trade pressure.

• Nintendo sells 6M Switch 2 units in seven launch weeks.

• Markets expect a September rate cut after soft economic signals emerge.

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