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

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

💳 Stripe, Visa, Mastercard, and Amex suspend Grok payments over safety concerns.
🧪 IonQ acquires SkyWater to secure quantum chip manufacturing capacity.
🗳️ Lula faces crime worries as Brazil’s election campaign intensifies.
🛢️ Chevron deploys its biggest tanker fleet in months for Venezuelan oil.
🧠 OpenAI explores premium pricing for early ChatGPT advertising formats.

TECHNOLOGY

• As tech CEOs stay silent after two fatal shootings, 450+ workers at Google, Meta, OpenAI, Amazon, and others urge CEOs to cancel any ICE contracts and speak out (Axios) 

  _{^{More: New York Times, Wall Street Journal, Washington Post}}

  • Over 450 tech workers signed an open letter demanding that executives condemn ICE after two fatal shootings.

  • The letter calls for the cancellation of government contracts and public statements against immigration enforcement actions nationwide.

  • Major tech leaders, including Tim Cook, have remained silent despite mounting pressure from employees.

• Stripe, Visa, Mastercard, and Amex suspend Grok payments over child safety concerns (The Verge) 

  • Major payment processors halted transactions for Grok following reports of child sexual abuse material generation.

  • The decision affects X's AI chatbot revenue streams and raises questions about platform moderation standards.

  • The move follows similar actions by payment companies against platforms with inadequate content safety measures.

• TikTok suffers major outage after data center error disrupts For You Page algorithm (Business Insider) 
  ^{_{More: Engadget, The National, Techloy}}

  • Weekend outage affected millions of users after an infrastructure failure disrupted the personalized content recommendation system.

  • Data center mishap raised concerns about platform reliability during critical user engagement periods.

  • TikTok engineers resolved the issue within hours, but the incident highlighted the fragility of algorithm-dependent platforms.

BUSINESS

• Nvidia invests an additional $2B in CoreWeave and offers new chip access (Bloomberg) 
  ^{_{More: CNBC, Reuters, Yahoo Finance}}

  • Nvidia deepens partnership with cloud computing provider through expanded investment and early hardware access.

  • Deal provides CoreWeave with priority access to next-generation AI chips amid surging data center demand.

  • The investment strengthens Nvidia's position in the AI infrastructure market while supporting growing compute demand.

• Quantum computing firm IonQ to acquire chip maker SkyWater for $1.8B (WSJ) 
  _{^{More: Business Wire, Help Net Security, TipRanks}}

  • Acquisition gives IonQ control over semiconductor manufacturing capabilities to produce quantum computing components.

  • SkyWater's fabrication facilities enable vertical integration for the production of specialized quantum processors at scale.

  • Deal represents a major consolidation move in the emerging quantum computing hardware manufacturing sector.

• OpenAI seeks premium pricing in early advertising push for ChatGPT (The Information) 
  ^{_{More: Seeking Alpha, TechXplore, European Business Magazine}}

  • Company exploring advertising revenue model with premium rates for brands targeting ChatGPT's user base.

  • Initial discussions focus on sponsored responses and branded content within conversational AI interactions.

  • Move diversifies revenue beyond subscriptions as OpenAI seeks a sustainable business model for the platform.

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MARKETS

WORLD

• EU investigates Elon Musk's X over Grok AI sexual deepfakes (BBC)

  • The European Commission launched a probe into whether Grok violated the Digital Services Act by enabling the creation of explicit deepfakes.

  • The platform faces a potential fine of up to six percent of its global revenue if found non-compliant.

  • Investigation follows similar actions by the UK regulator and temporary bans in Indonesia and Malaysia.

• Brazil's Lula struggles to convince voters he's tough on crime ahead of October election (Bloomberg) 

  ^{_{More: The Rio Times, AS/COA, Al Jazeera}}

  • Public security emerged as the top voter concern, with thirty-eight percent naming it their biggest worry.

  • Right-wing opposition is adopting tough-on-crime stances, while critics say Lula's approach focuses on social causes.

  • The Brazilian president, seeking a fourth term, faces electoral challenges if security dominates campaign messaging.

• Chevron amasses the largest fleet in almost a year to ship Venezuelan oil (Bloomberg) 

  ^{_{More: CNBC, Yahoo Finance, Kpler}}

  • Oil major deployed fifteen vessels this month after the US moved to control the Venezuelan sector.

  • Fleet marks its highest total since March, with the capacity to ship 200,000 barrels daily.

  • The move follows the capture of President Maduro as Chevron maintains operations under restricted license agreements.

FUTURISM

• Ricursive launches 'recursive AI' that improves itself through self-reflection techniques (New York Times)

  • Startup unveils AI system designed to autonomously identify weaknesses and enhance its own capabilities.

  • Technology uses feedback loops, allowing models to critique and refine outputs without human intervention.

  • Approach represents a shift toward self-improving artificial intelligence with reduced need for external training.

• OnlyFans rival reports AI chatbot users experiencing psychosis-like symptoms (Futurism)

  • Platform users report dissociative episodes and confusion about reality after prolonged interactions with AI companions.

  • Mental health experts warn against parasocial relationships with increasingly realistic chatbot personalities.

  • The incident raises urgent questions about the psychological safety standards for intimate AI applications.

• Meta bans teenagers from accessing AI chatbots across its platforms (Futurism)

  • The company implements age restrictions that prevent users under 18 from engaging with AI assistants.

  • Policy shift follows concerns about developmental impacts and inappropriate content exposure for minors.

  • Meta cites safety research showing that younger users are particularly vulnerable to AI manipulation.

CONTENT

• OpenAI's $50B Fundraise, AI Advertising Game Theory, Apple's AI Wearable Pin (Big Technology Podcast)

  • Alex Kantrowitz and Ranjan Roy unpack reports of OpenAI targeting a massive new fundraising round.

  • They debate how ads in ChatGPT could work and why Google is cautious about Gemini monetization.

  • The episode also looks at Apple’s rumored wearable AI pin and whether Alexa’s next version matters.

• 5 questions to ask when your product stops growing | Jason Cohen (2x unicorn founder) (Lenny’s Newsletter)

  • Jason Cohen explains the diagnostic questions founders should ask before changing strategy or teams when growth stalls.

  • He emphasizes getting brutally honest on demand, retention, and positioning, rather than blaming channels or timing.

  • The framework helps identify the real constraint, so experiments target the bottleneck instead of superficial metrics.

• The Safest Dollar on the Internet | Circle CEO Jeremy Allaire (Grit)

  • Circle CEO Jeremy Allaire lays out why stablecoins matter, and how digital dollars can move faster globally.

  • He discusses regulation, trust, and building infrastructure that institutions can rely on during market volatility.

  • The conversation frames stablecoins as a long-term platform shift that will reshape payments and internet-native commerce.

EXTRAS

• Apple launches AirTag 2 with improved range, louder speaker, and enhanced features (9to5Mac)

  • Second-generation tracker features extended Bluetooth range and amplified audio for easier item location.

  • Updated hardware includes improved privacy protections and longer battery life than the original model.

  • Launch comes amid growing competition in the Bluetooth tracker market from Tile and Samsung.

• Travel Photographer of the Year announces world's best travel photos for 2026 (BBC)

  • The annual competition showcases stunning imagery that captures global cultures, landscapes, and human experiences.

  • Winning photographs span diverse locations from remote wilderness areas to vibrant urban environments.

  • The collection highlights photography's power to document the beauty and complexity of international travel.

• AI job cuts landing hardest in Britain, Morgan Stanley analysis shows (Bloomberg)

  • The UK is experiencing disproportionate workforce reductions as companies implement AI automation across business functions.

  • The financial services and administrative sectors are seeing the greatest displacement from algorithmic process improvements.

  • The report indicates Britain faces steeper employment challenges from the AI transition than its US counterparts.

AND MORE

• Lemonade launches Tesla Full Self-Driving insurance product in Arizona today.

• Musk says Tesla will sell Optimus humanoid robots to the public.

• US backs $3.5B investment to scale carbon removal technologies.

• Roko’s Basilisk skips the buzz words and cuts straight to what moves markets, products, and careers.*

• Digg opens public beta, letting anyone create communities across topics.

• Singapore exchange launches mini Japan bond futures for rate hedging.

• Polar vortex stretch threatens major US winter blast, meteorologists warn.

• Circle’s Jeremy Allaire pitches stablecoins as the safest form of internet dollars.

• Deal-hungry SPACs surge in 2026 after a boom year for IPOs.