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

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

🖥️ Huawei develops new AI chip seeking to match Nvidia.
🛒 TikTok to enter Japan's e-commerce industry.
🚗 Toyota considers investing in a potential $42B buyout of key supplier.
💊 Europe’s pharma industry braces for pain as Trump tariff threat looms.
☢️ Amid U.S.-Iran talks, Netanyahu says Iran's entire nuclear program must go.

TECH

• Huawei develops new AI chip seeking to match Nvidia

  • China’s Huawei Technologies is preparing to test its newest and most powerful artificial intelligence processor.

  • Huawei has approached some Chinese tech companies about testing the technical feasibility of the new chip, called the Ascend 910D.

  • The people interviewed indicate that the chip is in early development and will undergo a series of tests to evaluate its performance.

• TikTok to enter Japan's e-commerce industry

  • TikTok, the popular Chinese social media platform, is gearing up to enter Japan’s online shopping market in the coming months.

  • The company plans to recruit sellers soon for its e-commerce arm, TikTok Shop, which will offer a platform for users to sell products.

  • This expansion into Japan follows TikTok Shop’s recent moves into Europe, continuing its global push.

• Google’s DeepMind UK team reportedly seeks to unionize

  • Around 300 London-based members of Google’s AI-focused DeepMind team seek to unionize with the Communication Workers Union.

  • These DeepMind employees are reportedly unhappy about Google’s decision to remove a pledge not to use AI for weapons or surveillance.

  • They’re also concerned about the company’s work with the Israeli military, including a $1.2 billion cloud computing contract.

BUSINESS

• Toyota considers investing in a potential $42B buyout of key supplier

  • Toyota Motor announced it is considering a potential investment in a possible buyout of its major supplier, Toyota Industries.

  • This transaction could be valued at approximately 6 trillion yen or $42 billion, according to media reports.

  • Toyota Chairman Akio Toyoda and members of the founding family proposed this plan to acquire Toyota Industries in the $42B deal.

• Europe’s pharma industry braces for pain as Trump tariff threat looms

  • For months, President Donald Trump has been promising to impose higher tariffs on pharmaceuticals as part of his plan.

  • This is to reorder the global trading system and bring key manufacturing industries back to the United States.

  • “Pharma needs more attractive conditions to produce in Europe,” said Dorothee Brakmann, director of Pharma Deutschland.

• Novo Nordisk scores major legal win that bars many compounded versions of Wegovy and Ozempic

  • Novo Nordisk scored a legal victory that restricts compounding pharmacies from marketing or selling cheaper Wegovy and Ozempic.

  • U.S. District Judge Mark Pittman specifically denied the Outsourcing Facilities Association’s bid for a preliminary injunction.

  • This would have prevented the FDA from taking action against its members for making copies of semaglutide.

CONTENT

• Your next customer reads Memorandum—shouldn’t they see your brand, too?*

  • 120k+ decision-makers and industry leaders rely on Memorandum daily for the insights that shape their business strategies and next big moves.

  • This is your opportunity to consistently place your brand right in front of influential readers who genuinely make high-stakes business decisions.

  • We write the ad copy for you, so you can focus on the results.

• Inside Monday.com’s transformation with Daniel Lereya

  • Daniel shares insights on scaling the company, starting with a pivotal moment when competitors began shipping faster.

  • He emphasizes focusing on impact over features, transforming the product quarterly, and overcoming challenges during scaling.

  • Daniel also discusses maintaining transparency, the importance of risk-taking, and counterintuitive lessons in product development.

• Tariffs, free trade, export, and more with Bill Gurley and Brad Gerstner

  • Bill Gurley and Brad Gerstner dive into tech, markets, and capitalism, revisiting debates on free trade and export controls.

  • They explore the evolving AI cold war, the ban on NVIDIA’s H20 chip, and restrictions on rare earth exports.

  • The conversation also covers DeepSeek’s impact, the broader zero-sum dynamics in AI, including thoughts on Tesla’s position.

• Meta’s Andrew Bosworth and his take on what comes after mobile

  • Meta CTO Andrew Bosworth discusses how advances in AI could reshape consumer technology beyond smartphones and touchscreens.

  • Bosworth explains how AI breakthroughs could disrupt the traditional app model, spark new business models, and create a post-mobile era.

  • He also highlights the importance of performance, pricing, open-source tools like Llama, and staying committed to a long-term vision.

WORLD

• Amid U.S.-Iran talks, Netanyahu says Iran's entire nuclear program must go

  • US Secretary of State Marco Rubio said last week that Washington seeks a deal that would prevent Iran from enriching any uranium.

  • “Dismantle all the infrastructure of Iran’s nuclear program,” says Netanyahu. “That is a deal we can live with.”

  • If the two sides agree on a more lenient deal, says Netanyahu, Iran will simply run out the clock and wait for the end of Donald Trump’s term.

• At least 11 people killed after driver plows into street party in Vancouver

  • At least 11 people were killed and ‘dozens injured’ Saturday as a vehicle plowed into a large crowd at a street festival in Vancouver, officials said.

  • "A 30-year-old suspect, a Vancouver man, was arrested at the scene," the Vancouver Police Department said in a social media post.

  • "Our thoughts are with all those affected and with Vancouver's Filipino community during this incredibly difficult time," Sim said.

• With the Trump-Zelensky meeting, Ukrainians see a glimmer of hope

  • Trump’s pausing for a man-to-man talk with Volodymyr Zelensky while at the funeral of Pope Francis was one such rare occasion.

  • The image of the two men hunched towards one another in earnest, civilised discussion was the ‘optic’ the world needed.

  • President Zelensky hopes that the exchange has ‘the potential to become historic, if we achieve joint results’.

AND MORE…

• Amazon and Nvidia say all options are on the table to power AI, including fossil fuels

  • Tech and fossil fuel companies gathered in Oklahoma City to discuss how the U.S. can meet the growing energy demand from AI.

  • The Big Tech companies have invested mostly in renewable power to slash their carbon dioxide emissions.

  • There is now growing public acknowledgment from the tech industry that gas will be needed, at least in the near term, to help fuel AI.

• 4chan is back online, says it’s been ‘starved of money’

  • 4chan is partly back online after a hack took the infamous image-sharing site down for nearly two weeks.

  • The site first went down on April 14, with the person responsible for the hack leaking data.

  • “4chan is back,” the post said. “No other website can replace it, or this community. No matter how hard it is, we are not giving up.”

• Nike is facing a lawsuit from people who bought its NFTs

  • A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year.

  • The buyers of the digital assets say they wouldn’t have bought their NFTs if they’d known they were ‘unregistered securities’.

  • The proposed class action lawsuit seeks ‘unspecified damages of more than $5 million for alleged violations of consumer protection laws.’