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

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

☁️ Google Cloud experiences a widespread outage, impacting major global platforms.
🗣️ Apple pushes back Siri upgrade, citing performance and design challenges.
🧸 Mattel partners with OpenAI to develop intelligent toys and internal AI tools.
☢️ UN watchdog says Iran breached nuclear rules with hidden uranium sites.
✈️ Air India crash kills hundreds after 787 slams into building.

TECHNOLOGY

• Google Cloud suffers major outage impacting internet services

  • Google Cloud experienced a major outage on June 12, affecting services like Gmail, YouTube, and Spotify.

  • The issue began mid-morning Pacific Time, with recovery efforts underway by early afternoon.

  • Users reported login failures, file access problems, and widespread slowness across Workspace and partner platforms.

• Apple targets spring 2026 for delayed Siri AI upgrade

  • Apple has postponed its new Siri rollout from late 2025 to spring 2026 due to design challenges.

  • The update will allow Siri to better interpret on-screen context and personal data for smarter responses.

  • Engineers say more time is needed to ensure the upgrade meets Apple’s performance and reliability standards.

• Google unveils AI-powered Weather Lab for storm forecasting

  • Google’s new AI Weather Lab predicts cyclones up to 15 days ahead with increased accuracy.

  • Early tests show storm path estimates are 87 miles closer than leading European weather models.

  • Developed with DeepMind, the tool supports forecasters like the U.S. National Hurricane Center in real-time tracking.

BUSINESS

• Chime opens at $43 in Nasdaq debut after pricing IPO above range

  • Chime shares opened at $43 on June 12, up 59% from its $27 IPO price, signaling strong investor demand.

  • The IPO raised $864 million from 32 million new and 6.1 million existing shares, valuing the firm near $18 billion.

  • Chime’s fintech model targets fee-free banking for under‑$100k income Americans, boosting confidence in digital financial services.

• Coinbase beefs up subscription plan by offering an American Express card

  • Coinbase One members will get an AmEx-backed card offering up to 4% back in bitcoin on purchases starting this fall.

  • The card complements Coinbase’s $29.99/month plan and a newly announced Basic tier at $4.99/month or $49.99/year.

  • This marks Coinbase’s first full-branded credit card, aiming to integrate crypto rewards into everyday spending habits.

• Barbie-maker Mattel teams up with OpenAI, eyes first AI-powered product this year

  • Mattel will collaborate with OpenAI to develop AI-enabled toys and games, planning a launch by year’s end.

  • The partnership also includes integrating ChatGPT Enterprise internally to accelerate innovation and ideation.

  • The move reflects Mattel's push to revitalize its toy lineup amid economic headwinds and industry-wide challenges.

MARKETS

WORLD

• UN nuclear watchdog declares Iran in breach of non‑proliferation obligations

  • IAEA board found Iran non‑compliant over undeclared uranium traces at covert sites since 2019.

  • This is the first such declaration in nearly 20 years, raising the possibility of UN Security Council referral.

  • Iran responded by activating a new enrichment facility and upgrading centrifuges at Fordow as countermeasures.

• Air India Boeing 787 crashes in Ahmedabad shortly after takeoff

  • Flight AI 171 crashed into a building seconds after departing Ahmedabad, killing hundreds onboard and on the ground.

  • Around 242 people were aboard; only one passenger survived. Rescue teams are securing the crash site.

  • Authorities have grounded operations, launched investigations, and deployed emergency services to treat the injured.

• Cuban university students protest after severe internet price hikes

  • Students across Cuban universities are boycotting classes, demanding resignations after mobile internet costs soared.

  • The latest Etecsa package offers only limited data and is unaffordable on state wages, fueling widespread discontent.

  • Protesters argue the hikes reflect a drift toward dollarization and a departure from socialist principles on digital access.

CONTENT

• Adam Neumann: This Is How You Build Iconic Companies

  • Neumann shares lessons from WeWork’s downfall and how Flow is rebuilding community through real estate innovation.

  • He discusses loneliness, resilience, and turning personal crisis into a bold, system-level housing vision.

  • With Marc Andreessen and Ben Horowitz, Neumann explains Flow’s tech-driven path to reimagining modern living.

• 35 Years Of Product Design Wisdom With Bob Baxley

  • Apple veteran Baxley explains why small, cross-functional teams produce the most meaningful design work.

  • He critiques common design misconceptions and offers advice on aligning product, engineering, and creativity.

  • The episode explores software’s creative power and a designer’s duty to build tools that reduce frustration.

• Sam Altman On Stargate, Humanoid Robots And OpenAI’s Future

  • Altman details OpenAI’s long-term goals, including Stargate, AGI ambitions, and the future of humanoid robotics.

  • He opens up about balancing leadership with fatherhood and the cultural impact of emerging AI tools.

  • Emily Chang explores Altman’s personal evolution and how OpenAI is positioning itself for the next decade.

FUTURISM

• Forget the Chatbots. Nvidia and OpenAI predict robots by 2027

  • Nvidia’s Jensen Huang and OpenAI’s Sam Altman foresee humanoid robots tackling real‑world tasks by 2027.

  • They predict robots could soon build other robots and even construct data centers autonomously.

  • While physical capabilities are staged in demos, advancing AI autonomy remains the main barrier ahead.

• Flexiv and Nvidia join forces in robotics simulation

  • Flexiv launched the Flexiv‑Isaac Bridge App, integrating Nvidia’s Isaac Sim for force‑controlled robot development.

  • Developers can now design, test, and deploy adaptive robotics applications with real‑time simulation feedback.

  • This partnership promises faster prototyping and smoother transition from sim to real‑world robot deployment.

• Sam Altman‑backed Coco Robotics raises $80 M

  • Coco Robotics secured $80 million in funding from Sam and Max Altman, plus venture firms, for last‑mile delivery bots.

  • The startup, partnering with OpenAI, uses real-world robot data to enhance AI models through its delivery network.

  • The funding supports scaling operations, expanding deployments, and improving autonomous navigation capabilities.

EXTRAS

• The Meta AI app is a privacy disaster

  • Meta AI app collects and retains voice audio clips and transcripts without clear opt‑in consent, raising privacy concerns.

  • Users reported data being available in Meta’s servers long after deletion requests, signaling unclear data retention policies.

  • Experts warn weak protections could expose personal conversations to misuse and call for stronger transparency safeguards.

• Kalshi launches AI-generated ads during the NBA Finals to test interest

  • Prediction marketplace Kalshi rolled out AI-created ads during the NBA Finals to gauge fan engagement and marketing potential.

  • Ads simulate betting scenarios around finals outcomes, combining realistic visuals and conversational prompts.

  • The experiment aims to assess whether AI ads during live sports can drive instant reaction and trading volume.

• Tesla sues former Optimus engineer over alleged trade secret theft

  • Tesla filed suit claiming a former engineer stole source code and started a competing robotics venture.

  • The complaint says the engineer accessed the Optimus code repository before leaving to launch an AI robotics startup.

  • Tesla seeks an injunction, damages, and return of its intellectual property to protect its sensitive AI development.

AND MORE

• Ant Group seeks a stablecoin license in Hong Kong to expand crypto services.

• Athyna connects you with pre-vetted talent aligned to your goals, ready to build from day one.*

• Nvidia joins major players in Temasek-backed AI infrastructure fund targeting global deployment.

• Google Pixel Drop adds AI sticker packs and VIP widgets.

• Protect your personal info and get 55% off your annual plan with code MEMORANDUM.*

• Stablecoins pose financial stability risks globally, Bloomberg warns in new crypto market report.

• China limits renewals on rare-earth export licenses to just six months.

• Apple rolls out enhanced parental controls and child safety text permissions to empower families.