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

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

⚖️ Florida sues OpenAI & CEO Sam Altman over concealed ChatGPT risks.
🔍 DuckDuckGo makes its 'no-AI' search engine easier to access amid traffic surge.
💰 NVIDIA chief says AI workers should be paid 'as much as possible'.
📈 Anthropic confidentially files for U.S. IPO, edging ahead of rival OpenAI.
🔓 China adds data & AI to trade secret rules to block leaks.

TECHNOLOGY

• Florida sues OpenAI & CEO Sam Altman over concealed ChatGPT risks (AP)
  ^{_{More: Reuters, CNN}}

  • Florida sued OpenAI and its CEO, Sam Altman, on Monday, alleging the company concealed serious risks associated with ChatGPT.

  • Attorney General James Uthmeier said OpenAI suppressed internal safety warnings and deceived users about the product's dangers.

  • OpenAI said its models urged the individuals to seek real-world support and that it cooperated with law enforcement.

• DuckDuckGo makes its 'no-AI' search engine easier to access amid traffic surge (CNET)
  ^{_{More: TechCrunch, Tech Times}}

  • DuckDuckGo launched browser extensions letting users set its AI-free search page as their default engine.

  • The extensions, available for Chrome and Firefox, remove AI answers, chat prompts, and most AI images.

  • The move follows Google's AI-first search revamp announced at its developer conference earlier in May.

• Blue Origin launchpad damaged in rocket explosion may not return until 2028 (CNBC)
  ^{_{More: Reuters, MSN}}

  • Blue Origin's launchpad, damaged by the New Glenn rocket explosion, may not be restored until 2028.

  • NASA Administrator Jared Isaacman told CNBC the New Glenn rocket erupted into a fireball during Thursday's hot-fire test.

  • NASA has awarded Jeff Bezos' Blue Origin several contracts in its Artemis return-to-the-moon program.

BUSINESS

• NVIDIA chief says AI workers should be paid 'as much as possible' (Bloomberg)
  ^{_{More: Business Standard, Straits Times}}

  • NVIDIA CEO Jensen Huang said he pays workers as much as possible amid the AI profit-sharing debate.

  • He spoke at Computex in Taipei after Samsung agreed to bonuses of up to $400k for engineers.

  • TSMC, another NVIDIA partner, reassured workers that their incentive program will grow faster in 2026 than in 2025.

• Anthropic confidentially files for U.S. IPO, edging ahead of rival OpenAI (Reuters)
  ^{_{More: AP, Al Jazeera}}

  • AI giant Anthropic has confidentially filed for a U.S. initial public offering, the company said Monday.

  • The filing edges Anthropic ahead of rival OpenAI in a closely watched race to public markets.

  • Anthropic's surging valuation has drawn major investors like Blackstone and Insight Partners amid soaring AI demand.

• Alphabet plans to raise $80B from stock sales to fund AI buildout (CNBC)
  ^{_{More: Financial Times, Axios, TechCrunch}}

  • Alphabet plans to sell $80B in stock, including a $10B investment by Berkshire Hathaway.

  • Google's parent said the capital will fund AI compute infrastructure to meet unprecedented customer demand.

  • In April, Alphabet raised its full-year capital expenditure range to as much as $190B.

MARKETS

WORLD

• Lebanon announces partial ceasefire between Israel & Hezbollah, but attacks continue (Reuters)
  ^{_{More: Economic Times, Arab News}}

  • Lebanon announced a partial ceasefire between Hezbollah and Israel on Monday, a limited de-escalation of the conflict.

  • The deal calls for Israel to stop strikes on Beirut, while Hezbollah halts attacks on Israel.

  • Fighting continues in southern Lebanon, and Iran has threatened to break off talks with the U.S.

• China adds data & AI to trade secret rules to block leaks (Bloomberg)
  ^{_{More: Straits Times, Economic Times}}

  • China expanded its trade secret rules to cover data and algorithms, aiming to prevent technology leaks.

  • Effective Monday, the rules mark the first time Chinese law protects digital assets as proprietary secrets.

  • Companies must now limit file access by rank, hide sensitive details, and track user activity.

• Revolut rolls out services to thousands in India ahead of broader launch (TechCrunch)
  ^{_{More: Tech Buzz, Crypto Briefing}}

  • Revolut quietly began rolling out services in India through a controlled beta ahead of a broader launch.

  • A few thousand customers have already used the platform since Revolut began accepting Indian signups earlier this year.

  • India's UPI processed a record 23.2B transactions worth around $313.8B in May, government data shows.

FUTURISM

• AI-driven labor displacement risks to remain low in the near term, Bridgewater says (Reuters)
  ^{_{More: Economic Times, Investing.com}}

  • Fewer than 20% of U.S. firms reported using AI, mostly in information technology and professional services.

  • Over 90% of AI-using firms reported no employment effect, and more cited headcount increases than decreases.

  • Bridgewater flagged two near-term risks: an escalation of the Iran conflict and AI-related cost pressures.

• China's Zhipu AI plans to apply for Shanghai's Sci-Tech Board listing (Tech in Asia)
  ^{_{More: Reuters, Economic Times}}

  • Zhipu AI, also known as Knowledge Atlas Technology, plans to list domestically on Shanghai's Sci-Tech Innovation Board.

  • The company, a leading player in China's crowded AI sector, announced the plan late Monday.

  • The proposed A-share issuance would represent 2% to 8% of share capital, up to 38.8 million shares.

• Duke scientists build a biblically accurate angel robot covered in eyes (Futurism)
  ^{_{More: Yahoo!}}

  • Duke University researchers built Argus, a rolling robot resembling a biblically accurate angel covered in eyes.

  • The virus-shaped machine has 20 telescoping legs and can move in any direction instantly.

  • Engineering professor Boyuan Chen said the team avoided human or animal forms, prioritizing what he calls 'dynamic symmetry.'

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CONTENT

• Dr. Hon Weng Chong explains why neurons beat GPUs at reinforcement learning (This Week in Startups)

  • Cortical Labs is the world's first company selling biological computers, fusing lab-grown human neurons with silicon.

  • Its CL1 creates Synthetic Biological Intelligence, which founder Dr. Hon Weng Chong says outperforms GPUs at reinforcement learning.

  • Cortical recently raised $30M and is building the world's first biological data center.

• Gary Lo explains 'selfie software': disposable, AI-generated tools anyone can create (The Startup Podcast)

  • Gary Lo joins Yaniv Bernstein to discuss 'selfie software': disposable, hyper-personal, AI-generated tools created without coding.

  • They explore how AI platforms force startups to choose between building independently and embedding into Claude and ChatGPT.

  • Gary's 'burn it down' exercise helps founders identify which parts of their products are defensible against the next AI wave.

• Brendan Foody on application layer's missing moat & costly AI researchers (20VC)

  • Brendan Foody is the founder and CEO of Mercor, a leading data provider to top labs, including OpenAI.

  • He scaled Mercor to $1.5B in ARR and a $10B valuation within two years.

  • Foody discusses rejecting a $30B acquisition and why infrastructure will win over the application layer.

EXTRAS

• Amazon's four-day Prime Day starts June 23, amid inflation pressure (CNBC)
  ^{_{More: Reuters, Yahoo!}}

  • Amazon's annual Prime Day event is scheduled for June 23 through June 26, 2026.

  • The four-day shopping event follows U.S. consumer sentiment dropping to a record low in May.

  • More shoppers are turning to Prime Day and similar events to stock up on groceries and essentials.

• Young & unemployed? Remote work, not AI, may be to blame (AP)
  ^{_{More: Yahoo!}}

  • A New York Fed study found remote work, not AI, drives higher unemployment among recent graduates.

  • Businesses have grown more reluctant to hire young, inexperienced workers since remote work expanded after the pandemic.

  • The jobless rate among young graduates in remote jobs rose about one percentage point, while that of older workers fell.

• Water access is now a risk factor in SpaceX's IPO (TechCrunch)
  ^{_{More: Tech Buzz, MSN}}

  • SpaceX added language to its IPO filing warning investors about access to a potentially scarce resource: water.

  • The amended filing says water, needed to cool data centers, matters as much as power and processors.

  • The change comes amid debate over data centers' water use and its link to localized droughts.

AND MORE

• SpaceX says it may issue 'significant' equity in 'future transactions'.

• In France's poor, diverse suburbs, Mélenchon's hard left charts a presidential path.

• Explore all the tools and more here to outperform the competition.*

• Zigging when most are zagging, ex-Meta CTO raises $250M climate fund.

• Schroders’ renewable unit targets AI assets as power demand soars.

• Grand Theft Auto V cheat service gets hacked, exposing thousands of gamers.

• The Thai beer billionaire's daughter never doubted women belonged at the top.

• This AI weather startup is out-forecasting major government weather agencies.