⛵ AMD Bets $5B on Anthropic
Good Morning, Early Adopters!
Two earnings reports lit up the Valley: Alphabet's cloud rocket and Tesla's split screen.
AMD Pours $5B Into Anthropic
TL;DR: AMD will invest up to $5 billion in Anthropic while Anthropic commits to buying up to 2 gigawatts of GPU capacity. It's the latest in a string of infrastructure deals Anthropic has announced this year to scale computing power. Read more →
Alphabet Q2 Cloud Revenue Jumps 82%
TL;DR: Alphabet posted Q2 revenue of $119.8B, up 24% YoY, with Google Cloud surging 82% to $24.8B and net income soaring 298% to $112.1B. It was the first quarter in years with negative free cash flow as AI capex accelerated. Read more →
Gemini Hits 950M Users, Strains Compute
TL;DR: Google's Gemini app reached 950M monthly active users, up from 750M in February, now processing 22B API tokens per minute. The explosive growth strained Google's compute so much it cut allocations to external customers like Meta. Read more →
Tesla Q2 Profit Misses, Cash Flow Turns Negative
TL;DR: Tesla posted record revenue but a big profit miss, with free cash flow turning negative and margins sliding. The report lands amid a slide in Tesla's stock even as its core auto business shows signs of rebounding. Read more →
Tesla's Robotaxi Growth Chart Falls Flat
TL;DR: Tesla told shareholders its Robotaxi service is expanding, but its own cumulative-mileage chart in the Q2 update shows growth is essentially flat, undercutting the company's expansion narrative. Read more →
Mistral Signs Multibillion Microsoft Azure Deal
TL;DR: French AI unicorn Mistral struck a multibillion-dollar deal with Microsoft to expand its computing infrastructure across Europe and boost availability of its models on Azure, deepening the two companies' partnership. Read more →
Trump's Chip Push Squeezes TSMC Margins
TL;DR: TSMC has pledged $200 billion in US manufacturing investment since Trump returned to power in 2025, but the American-made chip push is raising costs and pressuring the Taiwan chipmaker's margins. Read more →
Amazon Cuts Jobs In AGI Unit
TL;DR: Amazon laid off some employees in its AGI unit, the group behind its Nova AI models that also houses teams working on custom silicon and quantum computing, as the company reshapes its AI bets. Read more →
PsiQuantum Lands $125M DARPA Deal
TL;DR: Quantum computing company PsiQuantum secured a $125 million expanded agreement with DARPA aimed at validating utility-scale quantum computers, one of the largest federal bets yet on practical quantum hardware. Read more →
ServiceNow CEO Eyes $1 Trillion By 2030
TL;DR: ServiceNow CEO Bill McDermott declared the company will hit a $1T valuation by 2030, a 10x from its current $99B market cap, as Nvidia's Jensen Huang floated even bigger upside and partners expand deals. Read more →
SkyPilot Raises $20M For AI Infrastructure
TL;DR: Infrastructure automation startup SkyPilot launched with $20 million in seed funding led by Lux Capital, targeting cross-cloud AI compute orchestration to ease how teams manage AI infrastructure at scale. Read more →
StrongestLayer Raises $4.1M For Email Security
TL;DR: AI email security startup StrongestLayer raised $4.1 million to expand its reasoning-based threat detection platform and fund a go-to-market push ahead of a planned Series A round. Read more →
TSMC Price Hike Deepens Apple's Pain
TL;DR: TSMC is raising chip fabrication prices, adding to Apple's cost pressures. Apple has already lifted prices on most products over memory costs, with further iPhone price increases expected this year. Read more →
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