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

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

📚 Meta’s AI training on books ruled fair use by U.S. judge.
🛩️ India raises $100M to scale battlefield drone manufacturing.
🔔 Ring’s new AI feature adds motion-specific alert descriptions.
💣 UK buys 12 F-35 jets capable of carrying nuclear weapons.
📈 Nasdaq climbs while Dow slips as Fed testimony continues.

TECHNOLOGY

• Meta Beats Copyright Suit From Authors Over AI Training on Books

  • A federal judge ruled Meta’s use of 13 authors’ books to train AI models qualifies as fair use under U.S. copyright law.

  • The court stated that the authors failed to prove that such training harmed their market or diluted the value of their works.

  • While Meta won the case, the verdict clarifies fair-use boundaries but does not broadly legalize all AI training methods.

• Indian Drone Startup Raphe mPhibr Raises $100M as Military UAV Demand Soars

  • Raphe mPhibr secured $100 million in an all-equity Series B funding round led by General Catalyst for R&D and domestic manufacturing.

  • The startup aims to scale military drone production to meet rising demand on India’s borders and battlefield deployments.

  • With a focus on defense and surveillance growth, local production shifts India toward self-reliance in advanced drone technology.

• Ring Cameras and Doorbells Now Use AI to Provide Specific Descriptions of Motion Activity

  • Ring introduced an AI feature that generates text summaries—such as ‘person walking’ or ‘vehicle passing’—for motion alerts.

  • The English-language beta is rolling out to U.S. and Canadian Ring Home Premium users to improve situational awareness.

  • This upgrade reduces vague notifications and helps users quickly assess whether alerts require immediate attention.

BUSINESS

• Stocks Rally Near Records With S&P and Nasdaq Mixed

  • S&P 500 ended flat while Nasdaq 100 rose, staying close to all-time highs as investor sentiment remained mixed.

  • Optimism over possible rate cuts supported the rally amid reduced geopolitical tensions and economic uncertainty.

  • Tech leaders, including Nvidia and Microsoft, led gains, though some sectors showed signs of fatigue.

• Oil Rises on Draw in U.S. Crude Stocks That Signals Firm Demand

  • U.S. crude inventories declined more than expected, pointing to robust demand and strong refinery activity.

  • Brent and WTI crude prices climbed despite concerns over Middle East tensions and global supply challenges.

  • Analysts say market focus is shifting back to fundamentals, including OPEC+ policy and demand projections.

• Fed’s Powell Heads to Senate Panel for Second Day of Testimony

  • Powell warned against curbing the Fed’s authority to pay interest on reserves as a deficit-fighting measure.

  • He cited tariff-related inflation risks as a factor delaying potential interest-rate cuts in the near term.

  • Senators clashed over the Fed’s independence and economic policies, reflecting broader political divides.

MARKETS

WORLD

• UK to Buy F‑35 Stealth Jets Capable of Carrying Nuclear Weapons

  • The UK will purchase 12 F‑35A jets capable of carrying U.S. nuclear bombs as a NATO deterrent.

  • The jets restore Britain’s air-based nuclear delivery ability for the first time since 1998.

  • The decision signals tighter UK-U.S. military alignment amid rising global security threats.

• Thousands Rally in Kenya on Anti‑Tax Protest Anniversary

  • Demonstrators marched across Kenya, marking one year since deadly protests over tax hikes.

  • Police used tear gas and water cannons as tensions escalated in Nairobi and Mombasa.

  • Protesters demand economic relief and warn the government against future fiscal crackdowns.

• Iran Turns to Internal Crackdown in Wake of 12‑Day War

  • Iran launched arrests and military crackdowns in Kurdish areas following its ceasefire with Israel.

  • Security forces enforced checkpoints and targeted perceived dissent under national unity efforts.

  • Analysts warn this reflects growing authoritarianism amid fears of internal instability post-war.

CONTENT

• Satya Nadella: Microsoft's AI Bets, Hyperscaling, Quantum Computing

  • Nadella outlines Microsoft’s infrastructure push for AI, comparing the moment to the early internet and PC revolutions.

  • He reflects on team dynamics, computer ethics, and what he’d build if starting from scratch today.

  • Quantum breakthroughs and hyperscaling are framed as critical to staying ahead in foundational AI development.

• I spent $25 Testing Genspark, the $530M AI Agent Startup

  • Greg Isenberg reviews Genspark’s AI agent platform, testing its use for decks, personas, and growth tactics.

  • Impressive content creation features are balanced by weak design output and clunky UX limitations.

  • Despite issues, it delivers high value in research tasks and startup workflows for $25 per month.

• Business as a Sport, Surge AI, and Waymo vs. Robotaxi

  • Shaan and Sam explore Surge AI’s path to $1B in five years and its broader implications.

  • The episode mixes startup insights with playful personal anecdotes, including letters, fights, and overalls.

  • Robotaxi disruption and Elon’s tweet reply also get attention as the duo connects business to sport.

FUTURISM

• Google DeepMind Introduces AI Model That Runs Locally on Robots

  • The new Gemini Robotics On‑Device VLA model runs entirely on robots, executing tasks without internet reliance.

  • It handles dexterous instructions like folding clothes or unzipping bags and adapts with just 50–100 demonstrations.

  • Optimized for local deployment, it delivers low‑latency performance in network‑limited settings via an accessible SDK.

• Chinese Military Robotics Lab Creates Mosquito‑Sized Microdrone for Covert Operations

  • China’s NUDT developed flapping‑wing microdrones the size of mosquitoes, designed for battlefield reconnaissance missions.

  • These miniature bionic drones are built for stealth surveillance, exploiting insect-like appearance to blend into environments.

  • The microdrones reflect China’s defense push into autonomous micro‑robotics, focusing on covert intelligence tasks.

• Kawasaki Unveils Robotic Mechanical Horse Vehicle Concept ‘Corleo’

  • Kawasaki’s Corleo is a hydrogen‑powered, quadruped robotic horse prototype with AI managing balance and terrain‑adaptive suspension.

  • Designed for all‑terrain transport, it integrates body‑weight steering, night‑vision projection, and a hydrogen engine for zero emissions.

  • Though in the concept stage, Corleo signals innovation in clean, adaptive mobility blending mechanical, robotic, and energy technology.

EXTRAS

• EFF and PRC Push States to Investigate Data Brokers Failing to Register

  • EFF and Privacy Rights Clearinghouse found hundreds of data brokers registered in one state but not in others, suggesting compliance gaps.

  • They urge California, Texas, Oregon, and Vermont to enforce registration laws and investigate brokers’ inconsistent disclosures.

  • State-level scrutiny is seen as essential to protect Americans’ privacy amid growing broker data sales and surveillance risks.

• Bernie Sanders Says If AI Makes Us So Productive, We Should Get a 4‑Day Work Week

  • Sanders argues AI-driven productivity gains should benefit workers via a reduced 32‑hour workweek without pay cuts.

  • He emphasized that AI should improve workers’ lives rather than concentrate gains solely for CEOs and investors.

  • The proposal reignites debate on labor rights and work-life balance as automation accelerates workplace change.

• WhatsApp Rolls Out AI‑Powered Message Summaries Using Meta’s Private Processing

  • WhatsApp introduces AI summaries of unread messages in private chats, powered by on-device Meta AI via ‘Private Processing.’

  • The feature is opt-in, U.S.-only initially, and ensures message content remains encrypted and invisible to Meta or third parties.

  • Summaries appear as concise bullet lists, designed to help users catch up quickly without reading every message.

AND MORE

• UK watchdog softens action against Google, slowing antitrust progress.

• Prosus aims to dominate Europe’s tech scene with e-commerce expansion.

• 140k+ readers from Google, TikTok, OpenAI, and Deel love Open Source CEO deep dive business content.*

• Nvidia sets new record as AI market confidence continues rising.

• The 2025 Salary Report reveals key insights into salary trends for engineers, data scientists, product managers, and more.*

• Kalshi hits $2B valuation following latest fundraising round.

• Trump crypto venture plans audit and app launch.

• EU urged to pause AI Act rollout by leading tech groups.