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

In today’s edition we are tackling the following:

🧩 Amazon aims to challenge NVIDIA by selling its Trainium AI chips.
🚗 Rivian owners file a lawsuit alleging false promises about self-driving features.
⚡ Federal regulators order grid operators to fast-track power for AI data centers.
🚕 Waymo recalls nearly 4k robotaxis after software defect breached freeway closures.
📱 Telegram ban in India sparks a rush to VPNs & rival apps.

TECHNOLOGY

• Amazon aims to challenge NVIDIA by selling its Trainium AI chips (TechCrunch)
  ^{_{More: Investing.com, Yahoo!}}

  • AWS is in talks to sell its Trainium AI chip to other companies for use in data centers.

  • The move could challenge NVIDIA's AI chip dominance, following CEO Andy Jassy's April letter touting chip demand.

  • Jassy estimated a standalone chip business at a $50B run rate, against NVIDIA's current $326B revenue run rate.

• Snap spins off AI video team into new company Dotmo over costs (NewsBytes)
  ^{_{More: TechCrunch, Techmeme}}

  • Snap is spinning off its AI video team into Dotmo, a new firm building AI for interactive gaming.

  • Snap will license its technology to Dotmo for gaming, and the team comprises departing Snap staff.

  • Snap CTO Bobby Murphy will be Dotmo's lead investor, while Snap takes a large equity stake.

• Rivian owners file a lawsuit alleging false promises about self-driving features (TechCrunch)
  ^{_{More: Yahoo!, TNW}}

  • Rivian faces a class-action suit alleging false claims about self-driving in its R1T truck and R1S SUV.

  • Filed Wednesday in a California federal court, it says Rivian promised hands-free, eyes-off driving, called Level 3 autonomy.

  • It alleges Rivian falsely promised, over five years, to make its Driver+ hands-free system standard in every vehicle.

BUSINESS

• Federal regulators order grid operators to fast-track power for AI data centers (AP)
  ^{_{More: Bloomberg, Yahoo!, TechCrunch}}

  • Federal regulators ordered grid operators to connect large energy users faster, citing surging demand from AI data centers.

  • Energy Secretary Chris Wright had urged FERC to act, helping the U.S. compete with China in AI.

  • Utilities and states feared losing authority, but FERC said states stay in control of retail electric rates.

• Democratic socialists surge in mayoral races nationwide as Trump fatigue grows (Seattle Times)
  ^{_{More: AP, ABC, FOX}}

  • Janeese Lewis George, a D.C. council member and democratic socialist, is running to become Washington's next mayor.

  • She is among several democratic socialists hoping Trump fatigue and frustration with Democrats push voters toward alternative candidates.

  • Trump said he "wouldn't like it" if she won; a recent poll showed her leading Kenyan McDuffie.

• Waymo recalls nearly 4k robotaxis after software defect breached freeway closures (FOX)
  ^{_{More: CNET, CBS, TechCrunch}}

  • Waymo is recalling 3,871 robotaxis after more than a dozen incidents where they entered closed freeway construction zones.

  • NHTSA says a software defect let vehicles miss certain closures and keep traveling at posted construction-zone speeds.

  • After 13 incidents, Waymo imposed freeway-driving restrictions, and a software fix remained under development as of June 13.

MARKETS

WORLD

• Yen hovers near its lowest in 40 years despite BOJ's rate hike (Reuters)
  ^{_{More: CNBC, Yahoo!}}

  • The yen sat near its lowest in 40 years Friday, with markets watching closely for possible intervention.

  • The currency edged up 0.2% to 161.12 per U.S. dollar, steadying after Thursday's low amid thin holiday liquidity.

  • Despite earlier intervention and a BOJ rate hike, concerns over PM Takaichi's spending plans have undermined investor confidence.

• Telegram ban in India sparks a rush to VPNs & rival apps (NY Times)
  ^{_{More: PCMag, TechCrunch, India Today}}

  • A week-long Telegram block over exam fraud concerns pushed Indian users to VPNs and rival messaging apps.

  • VPN app downloads jumped 49% to 208k on Tuesday, the announcement day and India's biggest since early 2025.

  • Proton VPN and Turbo VPN led the surge, with Proton's App Store downloads jumping 113% in India.

• Apple begins allowing third-party app stores for iOS customers in Brazil (Engadget)
  ^{_{More: TechCrunch, Apple, TNW}}

  • Apple is allowing alternative app stores for iOS users in Brazil, following an agreement with regulator CADE.

  • The draw for developers is lower fees: a 5% Core Technology Fee, though Apple must approve each marketplace.

  • Apps sold through alternatives face a lighter review called Notarization, mirroring Apple's approach in Europe under the DMA.

FUTURISM

• Pixi's new iOS app turns text messages into interactive AR experiences (TechCrunch)
  ^{_{More: Yahoo!, Business Wire}}

  • Pixi launched an iOS app on Wednesday that lets users send AI-powered AR characters through iMessage.

  • On-device AI lets AR characters sense surroundings, so a virtual cat reacts when a real dog walks past.

  • Mark Drummond, ex-DreamWorks and ex-Apple, says it brings presence and spontaneity, turning messages into shared, gift-like experiences.

• Adobe says its expanded AI agents "guide you down the happy path" (CNET)
  ^{_{More: Engadget, TechCrunch}}

  • Adobe is bringing its creative AI assistants into public beta across Photoshop, Premiere Pro, InDesign, Illustrator, and Frame.io.

  • Adobe's biggest AI push will also bring its design connector to Gemini, joining ChatGPT, Claude, and Copilot.

  • Capabilities vary by app: Photoshop manages layers, Premiere Pro sorts video into bins, and InDesign checks brand compliance.

• Spotify's new ticket-reservation feature for music superfans is now going live (TechCrunch)
  ^{_{More: Gizmodo, TNW}}

  • Spotify launched 'Reserved by Spotify,' which identifies an artist's top fans and holds two tickets before general sales.

  • It launches today in the U.S. for Premium subscribers aged 18+, with Role Model as the first partner artist.

  • For now, it covers only Live Nation concerts via Ticketmaster, with no Spotify fees, and will expand.

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CONTENT

• Scott Galloway & Heather Cox Richardson discuss the future of American democracy (The Prof G Pod)

  • As the U.S. nears its 250th birthday, Galloway speaks with historian Heather Cox Richardson about democracy's future.

  • They explore Trump's politics of spectacle, the war in Iran, and the current state of both political parties.

  • Topics include the latest Iran deal, a weakened U.S. diplomatic corps, and what history suggests may come next.

• U.S. bans Anthropic's Fable, Wix & Adobe hit lows, Mistral raises $20B (20VC)

  • Benchmark GP Everett Randle and Scale GP Rory O'Driscoll join to discuss the latest in venture and markets.

  • They break down SpaceX's record IPO, Elon's $1T day, a gamma squeeze, and Musk's call-option playbook.

  • They also cover Anthropic's Fable ban, U.S. export restrictions, model benchmarks, and whether Anthropic will IPO this year.

• Why SpaceX's $60B acquisition of Cursor changes everything for AI startups (This Week in Startups)

  • TWiST breaks down SpaceX's $60B acquisition of Cursor and why it warns startups building on frontier models.

  • Jason and guests Ben Ling, Turner Novak, and Alex discuss coding models, venture liquidity, and OpenAI's financials.

  • Topics include a golden era of M&A and leaked OpenAI financials showing $13B revenue and a $38.5B loss.

EXTRAS

• Almost half of U.S. singles view AI in dating negatively, Match finds (TechCrunch)
  ^{_{More: Axios, Yahoo!}}

  • In a Match Group survey of 1k U.S. singles, 47% held a negative view of AI in romance.

  • About 40% would refuse to date someone using an AI companion app, rising to 51% among young women.

  • Still, respondents weren't wholly opposed: 64% said they could see AI helping them in their dating journey.

• Burnham wins a parliamentary seat, clearing his path to challenge PM Starmer (Reuters)
  ^{_{More: CNA, NY Times}}

  • Labor mayor Andy Burnham decisively won a parliamentary seat in northern England, clearing a path to challenge Starmer.

  • He took the Makerfield contest with 54.8% of the vote, with Nigel Farage's Reform UK second on 34.5%.

  • Burnham can now trigger or join a contest to replace Starmer, who has vowed to fight any rival.

• Qantas turns to sleep science to make 20-hour flights bearable (AOL)
  ^{_{More: Reuters, Straits Times}}

  • Qantas will launch the world's longest non-stop flights, from Sydney to London, in October 2027.

  • It bets science can ease the journey with a wellness zone, extra legroom, timed meals, and animated lighting.

  • Qantas hopes to justify premium fares for skipping a stopover, with Sydney to New York flights to follow.

AND MORE

• Meta presses Congress for protection from lawsuits over harm to children.

• OpenAI is recruiting heavy hitters ahead of its planned IPO.

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

• AI startup Baseten is reportedly raising $1.5B, soon after its last round.

• SpaceX's two-day slide leaves the average IPO buyer nearly underwater.

• Elastic will acquire DeductiveAI, a CRV-backed startup, for up to $85M

• Taiwan tensions push Ukrainian drone makers to court Asian buyers.