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

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

🦆 DuckDuckGo installs surge 30% as users push back against Google's AI Search.
🏪 7-Eleven breach exposes personal data of 185k people.
🚗 Volvo Cars wins U.S. approval to keep selling connected-technology vehicles.
☢️ Trump administration wants nuclear startups to repurpose Cold War plutonium.
📦 Taiwan suspects NVIDIA chips were smuggled to China through Japan.

TECHNOLOGY

• DuckDuckGo installs surge 30% as users push back against Google's AI Search (TechCrunch)
  ^{_{More: Tom's Guide, Firstpost, Yahoo!}}

  • DuckDuckGo installs rose 30% after Google announced a sweeping AI-first overhaul of its search experience.

  • Google's redesign replaces traditional blue links with an AI agent that answers queries and runs background tasks.

  • Critics argue the shift will harm the open web and surface inaccurate responses that users cannot easily avoid.

• Universal Music Group & TikTok renew deal to curb unauthorized AI music (CNET)
  ^{_{More: TechCrunch, Yahoo!, MEXC}}

  • UMG and TikTok renewed their licensing deal, committing to remove unauthorized AI-generated music from the platform.

  • The agreement aims to strengthen artist and songwriter attribution and ensure fairer platform economics for creators.

  • Relations soured in 2024 when UMG pulled its catalog over TikTok's handling of AI music and copyright.

• 7-Eleven breach exposes personal data of 185k people (TechCrunch)
  ^{_{More: Firstpost, Yahoo!, Tech Buzz}}

  • A data breach at 7-Eleven affected 185k people, exposing names, addresses, and contact details.

  • Hacker group ShinyHunters claimed responsibility and threatened to publish stolen data unless 7-Eleven paid a ransom.

  • Compromised data also included Social Security numbers, driver's license numbers, and dates of birth.

BUSINESS

• Volvo Cars wins U.S. approval to keep selling connected-technology vehicles (Bloomberg)
  ^{_{More: Reuters, CNBC, TechCrunch}}

  • Volvo Cars received U.S. government approval to continue selling vehicles with Chinese-developed connected technology.

  • The approval follows Biden-era rules that effectively banned most Chinese vehicle software starting in March 2026.

  • The Commerce Department granted Volvo a specific authorization after discussions on data security and governance.

• Trump administration wants nuclear startups to repurpose Cold War plutonium (CNN)
  ^{_{More: NY Times, TechCrunch, Forbes}}

  • The Department of Energy selected five startups to negotiate receiving portions of surplus Cold War plutonium.

  • The plutonium, stored in high-security facilities for decades, could power a new generation of nuclear reactors.

  • Selected startups include Oklo, Standard Nuclear, Shine Technologies, Flibe Energy, and Exodys Energy.

• OpenRouter raises $113M Series B, valuing the AI gateway at $1.3B (NY Times)
  ^{_{More: TechCrunch, Tech Buzz}}

  • OpenRouter raised $113M in a Series B led by Alphabet's CapitalG, valuing the startup at around $1.3B.

  • The valuation more than doubles its $547M figure from a year ago, when it raised a $40M Series A.

  • The platform serves 8M users, processing 100T tokens monthly across over 400 AI models.

MARKETS

WORLD

• Netherlands blocks U.S. firm Kyndryl from acquiring key digital supplier (Politico)
  ^{_{More: Reuters, Bloomberg, TechCrunch}}

  • The Dutch government is blocking U.S. company Kyndryl's bid to acquire digital identity firm Solvinity.

  • Solvinity runs the platform behind DigiD, the app Dutch citizens use for online government authentication.

  • Authorities ruled that the acquisition posed a possible risk to the public interest, citing concerns about foreign control.

• Iranian hackers blamed for March cyberattack on LA transit system (Reuters)
  ^{_{More: TechCrunch, Firstpost}}

  • Israeli firm Gambit Security linked a March cyberattack on the Los Angeles transit system to Iranian hackers.

  • Hackers stole at least 700GB of emails, backups, and files from the LA County transit authority.

  • The Ababil group also claimed responsibility for separate hacks against Tri-Rail, Vyncs, and Unimac.

• Taiwan suspects NVIDIA chips were smuggled to China through Japan (Bloomberg)
  ^{_{More: Reuters, Yahoo!, Straits Times}}

  • Taiwan prosecutors detained 3 individuals suspected of smuggling NVIDIA AI chips to China via Japan.

  • The trio allegedly falsified export documents for Super Micro servers containing advanced NVIDIA chips.

  • The crackdown marks Taiwan's first public action against AI chip diversion to China.

FUTURISM

• This startup is using India's gig workers to train the world's robots (TechCrunch)
  ^{_{More: MEXC, Gizmodo, Inc42}}

  • Human Archive partners with gig-economy companies in India to collect first-person video data on everyday tasks.

  • Workers wear camera-equipped caps to record footage that trains robots on real-world human movements.

  • The startup raised $8.2M from Wing Venture Capital, NVP Capital, Y Combinator, and several angel investors.

• Spotify brings narrated magazine articles to its Premium subscribers (CNET)
  ^{_{More: Spotify, The Verge, TechCrunch}}

  • Spotify is testing narrated long-form articles, offering over 650 pieces from major publications in English.

  • Partner outlets include Rolling Stone, The Atlantic, Vogue, Wired, and several other well-known titles.

  • Premium subscribers access articles within their 15-hour monthly limit; free users pay $2 per article.

• SpaceX's Starship test bolsters IPO case as reusability goals remain unmet (CNA)
  ^{_{More: TechCrunch, Yahoo!}}

  • Friday's Starship launch showed enough progress to sustain momentum behind SpaceX's $1.75T IPO ambitions.

  • Starship is central to cutting launch costs, expanding Starlink, and supporting future missions to the Moon and Mars.

  • SpaceX has spent over $15B developing the rocket, though full reusability remains a work in progress.

• Explore the essential startup reading database*

  • Learning from the best is how you become the best. We've curated a list of top-notch articles, blogs, and readings that are pivotal for startup founders.

  • And here's the kicker: we've organized it all in a user-friendly Notion database for easy access and tracking. Double win!

  • As aspiring leaders and innovators, this list serves as a bridge to absorbing the knowledge that has propelled others to success.

CONTENT

• Cerebras CEO on data centers, token costs, & the future of memory (20VC)

  • Cerebras went public this month, reaching a $70B market cap in the largest semiconductor IPO in history.

  • The company holds a $20B multi-year compute agreement with OpenAI, signaling strong institutional demand for its chips.

  • CEO Andrew Feldman discussed AI infrastructure, memory shortages, frontier model commoditization, and data center expansion.

• Former Pentagon official Darren Farber on modern warfare & U.S. military strategy (Invest Like The Best)

  • Ex-Pentagon official Darren Farber discusses winning against martyrdom-driven adversaries and modernizing the U.S. defense industrial base.

  • The conversation covers Eisenhower and Taylor's strategic frameworks, China's fragility, and the rise of defense tech startups.

  • Farber also addresses commercial drone warfare in Ukraine and emerging security threats from military AI models.

• Austin Wright sold his company for $25M, then bought it back for $2M (Moneywise)

  • Wright scaled California Beach Company to $35M in revenue before selling to private equity firm Thrasio for $25M.

  • Thrasio later went bankrupt, allowing Wright to reacquire his own company for just $2M.

  • He breaks down his $13-14M net worth, deal structure, and what he would do differently post-exit.

EXTRAS

• UK Visa Portal exposes passports & selfies of thousands of applicants (TechCrunch)
  ^{_{More: Yahoo!, Digit}}

  • A non-government site called UK Visa Portal is publicly leaking passports and selfies of over 100k applicants.

  • Some applicants mistakenly paid the site fees, believing they were on the official U.K. government visa portal.

  • The site has no security reporting channel, and the leak remains unresolved after TechCrunch's notification.

• Stord raises $250M, valuing the e-commerce logistics startup at $3B (TechCrunch)
  ^{_{More: Yahoo!, MSN}}

  • E-commerce logistics company Stord raised $250M at a $3B valuation, doubling its worth year-on-year.

  • The round was led by Strike Capital, with Kleiner Perkins, Founders Fund, and Franklin Templeton participating.

  • Founded in 2015, Stord has raised around $775M across all funding rounds.

• Chemical tank implosion at Washington paper mill kills one, leaves nine missing (AP)
  ^{_{More: CBC, ABC, CNN}}

  • A chemical tank holding nearly 1 million gallons of corrosive liquid imploded at a Washington paper mill.

  • The incident at Nippon Dynawave Packaging killed at least one worker, injured nine, and left nine missing.

  • Authorities called off rescue efforts, describing the response as a recovery operation resuming Wednesday morning.

AND MORE

• Dropbox founder Drew Houston steps down as chief executive.

• Ghost hackers remain cybersecurity's biggest unsolved mystery after years of investigation.

• Thousands of AI roles at frontier companies, matched to your profile and sent straight to you. Stop scrolling.*

• Pope raises AI dangers in new letter, but may have used AI to write it.

• Samsung's largest unions approve new employee bonus scheme.

• Ferrari's first electric vehicle is exclusive, expensive, and not for everyone.

• Sony shuts down multiplayer for one of its earliest PS5 exclusives.