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

In today’s edition we are tackling the following:

🌟 Musk praises Anthropic, vows not to boot rival from SpaceX servers.
🤖 OpenAI calls GPT 5.6 Microsoft Copilot's 'preferred model' amid split rumors.
📈 Two new ETFs let investors skip Elon Musk's Tesla & SpaceX.
🛒 Tencent in talks to buy back Manus after Beijing blocks Meta.
🎁 Erdogan gifts NATO leaders vintage revolvers with live ammunition.

TECHNOLOGY

• Musk praises Anthropic, vows not to boot rival from SpaceX servers (TechCrunch)
  ^{_{More: Firstpost, Yahoo!, Tech Buzz}}

  • Musk said cutting off Anthropic was 'not my style' and admitted he was 'clearly wrong' about the lab.

  • Anthropic pays $1.25B monthly through May 2029 for xAI's Colossus 1 output, worth roughly $40B.

  • Google also rents SpaceX infrastructure through June 2029, paying $920M per month for compute.

• AI startup Lyzr's own agent ran its $100M Series B fundraise (Bloomberg)
  ^{_{More: TechCrunch, Tech Buzz, Yahoo!}}

  • Lyzr's agent SivaClaw fielded questions from over 130 investors, drafted memos, and tracked slide engagement.

  • The round valued the three-year-old New Jersey startup at roughly $500M while proving its product works.

  • Lyzr drew $400M in interest without founders flying out for traditional Sand Hill Road meetings.

• OpenAI calls GPT 5.6 Microsoft Copilot's 'preferred model' amid split rumors (TechCrunch)
  ^{_{More: Firstpost, Tech Buzz}}

  • Bloomberg reported Microsoft was swapping some OpenAI software for in-house MAI models to cut costs.

  • OpenAI countered by announcing GPT 5.6 as the 'preferred model' powering Microsoft's 365 Copilot.

  • GPT 5.6 will support Microsoft users across Word, Excel, PowerPoint, and Cowork productivity apps.

BUSINESS

• Two new ETFs let investors skip Elon Musk's Tesla & SpaceX (Bloomberg)
  ^{_{More: TechCrunch, MSN}}

  • Subversive Capital registered two ETFs that track major indices while explicitly excluding Elon Musk's companies.

  • The funds block Tesla and SpaceX, which recently joined the Nasdaq 100 after its IPO.

  • The move taps negative sentiment tied to Musk's DOGE work, X comments, and inauguration gesture.

• OpenAI applications CEO Fidji Simo exits full-time No. 2 position (WSJ)
  ^{_{More: Reuters, CNBC, TechCrunch}}

  • Fidji Simo is leaving her full-time OpenAI role, transitioning instead to a part-time advisory position.

  • Simo said her medical leave for a neuroimmune condition has proven longer and harder than expected.

  • She joined in May 2025 as CEO of Applications, with OpenAI's COO, CFO, and CPO reporting to her.

• Tencent in talks to buy back Manus after Beijing blocks Meta (Financial Times)
  ^{_{More: Bloomberg, Reuters, CNA}}

  • Tencent, ZhenFund, and HSG plan to buy Manus from Meta for no less than $2B.

  • China ordered Meta in April to unwind its $2B acquisition of the AI agent startup.

  • The Singapore-based company builds AI agents that autonomously complete tasks with minimal human input.

MARKETS

WORLD

• Erdogan gifts NATO leaders vintage revolvers with live ammunition after summit (Reuters)
  ^{_{More: Business Standard, The Guardian, Straits Times}}

  • Belgium's prime minister found a handgun and ammunition in his luggage after landing home from Ankara.

  • Erdogan gave each leader a rare Gumusay .357 Magnum, produced by Turkish arms maker MKE.

  • The gift showcased Turkey's defense industry, now a key export and foreign policy tool.

• India approves Vivo & Dixon joint venture, pushing smartphone manufacturing beyond Apple (CNA)
  ^{_{More: Reuters, India Today, TechCrunch}}

  • India approved a joint venture between China's Vivo and local manufacturer Dixon Technologies on Thursday.

  • The 51/49 Dixon-majority structure clears 2020 investment rules requiring extra scrutiny of Chinese capital.

  • Analysts believe the arrangement could become a template for Chinese brands expanding manufacturing through Indian partnerships.

• Kremlin sources say Putin plans escalation despite Trump's push for peace (Reuters)
  ^{_{More: Japan Times, Business Standard}}

  • Three sources close to the Kremlin say Putin is rejecting calls to negotiate peace with Kyiv.

  • Ukrainian drone strikes on refineries and ports caused fuel shortages but strengthened his resolve to fight.

  • One source describes a 'high probability' of escalation, with Putin seeing full Donbas control as essential.

FUTURISM

• Google adds 'My Ad Center' disclosures showing which ads use AI (The Verge)
  ^{_{More: Engadget, TechCrunch, Yahoo!}}

  • A new 'How this ad was made' option covers ads on Google Search, YouTube, and Discover.

  • Disclosure is automatic for Google's generative tools, but ads made elsewhere rely on advertiser self-reporting.

  • Google previously required AI disclosures only for election ads, despite prohibiting misleading and deceptive content.

• Bezos-backed Slate Auto partners with Crayola for EV truck wraps (Engadget)
  ^{_{More: TechCrunch, WIRED}}

  • Slate will offer five wraps in signature Crayola colors, including Cerulean, Razzmatazz, and Dandelion.

  • The Crayola wraps cost $1,549.99 and include a matching key fob and dashboard 'Slatelet.'

  • Slate's $24,950 unpainted truck relies on wraps, decals, and accessories as its core customization strategy.

• Meta starts 'Iris' AI chip production in September, targeting 14 GW (Reuters)
  ^{_{More: TechCrunch, Yahoo!}}

  • An internal memo shows Meta plans to boost total computing power to 14 GW next year.

  • Bug testing on the in-house chip took six weeks, with Broadcom designing and TSMC manufacturing.

  • Custom silicon could cut Meta's massive computing costs and reduce dependence on NVIDIA and AMD.

• Cut through the hype. Roko’s Basilisk distills the day’s AI breakthroughs, market moves, and workable workflows into a five-minute brief*

  • Get one sharp deep dive, fast Quick Hits, and a witty pro tip, plus links that actually matter.

  • Built for builders, operators, and curious leaders who need context fast. Join 100k+ readers who start decisions here each morning.

CONTENT

• Instagram head Adam Mosseri on where the app goes next (Lenny's Podcast)

  • Mosseri says product teams are shifting from specialist groups to lean pods of four to six generalists.

  • A new 'product staff' role blends PM, design, data science, and research into one operator.

  • He sees AI-generated content as a tailwind and discusses failures like Facebook Home and Reels.

• VC roundtable: why data could become the next $1T market (This Week in Startups)

  • Footwork's Nikhil Basu Trivedi argues Silicon Valley has never been more 'power-law-pilled' than today.

  • The roundtable covers secondary markets, startup M&A, the SaaSpocalypse debate, and possible AI trade retrenchment.

  • Guests Michael Kim and Alex Wilhelm also discuss SPV fraud and Superhuman's GPTZero acquisition.

• TBPN's Coogan & Hays on building media's fastest-growing daily show (The Prof G Pod)

  • Scott Galloway interviews the creators about turning a daily tech show into OpenAI's first acquisition.

  • They argue most podcasts get advertising wrong and small influential audiences beat mass reach.

  • The pair debate OpenAI vs. Anthropic and what Zuckerberg's obsessions reveal about tech's future.

EXTRAS

• SK Hynix's U.S. debut after $26.5B sale tests AI appetite (CNA)
  ^{_{More: Financial Times, CNBC, MSN}}

  • The South Korean chipmaker debuts on U.S. markets Friday following a $26.5B share sale.

  • SK Hynix shares dropped 25% from their record high but remain 650% higher than a year ago.

  • Chip stocks lost momentum recently amid investor concerns about slower AI spending after a stellar run.

• Eight men indicted over foiled drone & sniper plot targeting White House UFC event (PBS)
  ^{_{More: AP, CBC}}

  • The Ohio indictment charges all eight with terrorism support and conspiracy to murder a federal official.

  • The plot began in May, with the group amassing firearms, explosives, drones, and body armor.

  • Law enforcement learned of the threat June 10, four days before Trump's scheduled cage-fighting show.

• Dutch museum spreads 800 pounds of peanut butter honoring late artist (AP)
  ^{_{More: MSN}}

  • Museum Boijmans Van Beuningen's Depot recreated Wim T. Schippers' 1969 Pindakaasvloer for a two-month show.

  • Schippers, who died last month at 83, also voiced Ernie and Kermit in Dutch 'Sesame Street.'

  • The beloved non-conformist created absurdist works challenging conventional ideas about the meaning of art.

AND MORE

• Here's how you can opt out of Meta's Muse generator.

• India expands Indo-Pacific missile sales as neighbors grow wary of China.

• Hire vetted LATAM engineers in as little as five days, and save up to 70% on salary costs.*

• FanDuel sent Bryce Harper video to customer with gambling problem.

• Yen traders question whether Japan's pension money can sustain rally.

• AI recruiting startup Mercor in talks for a $20B valuation.

• Unbeaten Spain faces star-powered Belgium in World Cup quarterfinal clash.

• NVIDIA-backed Paris voice AI startup Gradium raises $100M seed round