Thursday, June 25, 2026

AI Chip Market Rebound

Micron Technology shares surged 15% after its quarterly earnings report revealed a quadrupling of revenue and a gross margin jump to 84.9% from 39% a year ago, driven by soaring memory chip prices and insatiable AI demand. CNBC CNBC

SK Hynix, South Korea's biggest chipmaker, saw its stock surge 12% and plans to raise as much as $29.65 billion via a Nasdaq listing as soon as July 10, further signaling strong investor confidence in the AI memory sector. CNBC CNBC

Qualcomm stock soared after the company announced new revenue targets and a partnership with Meta Platforms, with the chipmaker also acquiring buzzy AI chip startup Modular for nearly $4 billion to bolster its software stack and data center build-out. MarketWatch Wired CNBC

Asian stocks surged and S&P 500 futures rose as Micron's strong earnings eased recent AI bubble fears, with executives predicting chip supply will remain constrained beyond 2027 due to persistent AI-driven demand. Reuters NPR CNBC

AI Ethics & Regulation Scrutiny

Anthropic accused Chinese rival Alibaba of "illicitly" accessing its Claude AI models through a "brazen" campaign using fraudulent accounts, raising concerns about intellectual property theft in the competitive AI landscape. Bloomberg BBC News

A new report reveals that US Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP) spending on AI-powered surveillance tools to track immigrants soared to a record $513 million in 2026 under the Trump administration. The Guardian

Meta plans to release an AI-powered prediction market app, separate from Facebook and Instagram, where users can wager "play money" on real-world events, potentially expanding the controversial practice. NPR

A House subcommittee is considering legislation to make tech companies pay the energy costs for operating AI data centers, while Rep. Frank Pallone (D-N.J.) backed a moratorium on new AI data centers, signaling growing political scrutiny over AI's environmental impact. CNBC The Hill

Two former governors, Indiana Republican Eric Holcomb and Rhode Island Democrat Gina Raimondo, are collaborating to address potential job losses from AI, highlighting bipartisan concern over the technology's societal impact. NPR

Trump Administration & International Relations

International Criminal Court (ICC) judges are suing the Trump administration over sanctions, calling the measures unlawful and arguing they were designed to punish and coerce ICC decisions on US and Israeli war crimes cases. Al Jazeera The New York Times

President Trump labeled Andy Burnham, the likely next UK Prime Minister, "extremely liberal" and suggested he "probably won’t open up the North Sea" for oil exploration, signaling a potentially strained relationship with the new British leadership. The Guardian BBC News

NATO Secretary General Mark Rutte met with President Trump and used charts to demonstrate that European countries are "equalizing" defense spending with the U.S., appearing to defuse the President's anger over alliance contributions. The New York Times

A court filing revealed President Trump spoke with Live Nation CEO Michael Rapino shortly before the Justice Department's surprise antitrust trial settlement, raising questions about potential influence. AP News

Tech & Business Developments

Elon Musk lost his trillionaire status as falling shares in Tesla and SpaceX dragged his net worth below $1 trillion, just weeks after SpaceX's IPO briefly made him the world's first trillionaire. The Guardian Fox Business

Eli Lilly is investing in Absci, an AI startup developing medication for hair growth and potentially endometriosis, marking the pharmaceutical giant's entry into new treatment areas using artificial intelligence. STATnews

EV startup Slate Auto CEO Peter Faricy stated that its $24,950 electric truck will be profitable from the first vehicle, targeting positive cash flow next year. CNBC

A new consumer advocacy group, Crypto Watchdog, launched to highlight risks and educate Americans about the cryptocurrency industry, aiming to bring transparency to a historically opaque sector. The Hill

Former Infosys chief Vishal Sikka launched a new startup, backed by Mayfield and Aramco Ventures, aiming to challenge the IT services world with a team of veterans from SAP, Infosys, and VianAI. TechCrunch

Quick Shots

• ⚽ South Africa made history by reaching the World Cup knockout stage for the first time after defeating South Korea. Al Jazeera
• 💰 Bill Gates testified that Jeffrey Epstein sought to blackmail him over extramarital affairs, according to a transcript of congressional testimony. The Guardian
• 🚨 The US government opened a second federal investigation into a fatal Tesla crash in Texas that killed a 76-year-old resident, with the driver claiming driver-assistance technology was engaged. The Guardian
• 🇬🇧 The UK government is cutting VAT from 20% to 5% on attractions and kids' meals as schools break up, aiming to make family summer days out more affordable. BBC News
• 🤖 Explorer Scouts are introducing new badges for AI and the digital age, including content creation and online safety, in the movement's first major overhaul in nearly 25 years. The Guardian