Asian stocks rebound as chip shares recover ahead of Big Tech earnings
What's next: Tesla and Alphabet report Wednesday, with investors looking for proof AI spending can sustain the market rally.
Subject
#Microsoft
New York halts new 50-megawatt data centers for 1 year
Why it matters: The state became the first in the US to freeze large data center projects as AI power and water demands draw scrutiny.
Bloomberg, The Straits Times +3
AI chip demand drives up laptop, phone and PS5 prices
Consumer memory supply is tightening further, and Micron expects disruptions to continue at least through 2028.
Microsoft cuts 6,400 jobs as Xbox sheds 3,200 and spins off 4 studios
What's new: Xbox plans another 1,600 role cuts over 12 months as Microsoft refocuses the gaming unit on bigger franchises.
BBC News (US & Canada), The Business Times (Singapore) +1
Temasek targets 15% AI portfolio share by 2031 after record year
What's new: The Singapore investor's net portfolio value hit a record S$518 billion, and it is also expanding infrastructure and private credit bets.
Microsoft cuts 4,800 jobs as Xbox sheds 3,200 and spins off 4 studios
What's new: Xbox plans another 1,600 departures over the next year, and Microsoft shares slipped 1% even as the Nasdaq rose.
Bill Gates told House panel Epstein weighed blackmail over affairs
What's new: Transcripts show Gates said Epstein used “veiled” pressure as Congress reviews the handling of the sex-trafficking case.
The Straits Times, CNBC Indonesia +2
OpenAI tests Broadcom AI chip that cuts inference costs by 50%
What's next: Microsoft data centers and other partner sites are set to start integrating the finalized Jalapeno chips later this year.
Meta, Microsoft push data center lease commitments past $850 billion
Why it matters: The long-dated obligations signal years of spending on AI chips, power and server capacity across the industry.
House releases Bill Gates, Lesley Groff transcripts in Epstein probe
What's new: Gates told lawmakers he met Epstein to seek support for the Gates Foundation and called those contacts a "grave error in judgment."
CNBC, PBS NewsHour
SpaceX drops 16%, wiping out most gains from its June 12 IPO
What's new: The company also launched a notes sale and disclosed $100.8 billion in cash as of June 19.
Bloomberg, The New York Times +2
Chevron to supply gas for 2.7-gigawatt Microsoft Texas data center
Why it matters: The 20-year deal shows Microsoft turning to fossil fuel generation to meet round-the-clock AI power demand.
Bloomberg, CNBC
Microsoft sells OpenAI models in China as ByteDance tops $1 billion
Why it matters: The business expands US AI reach in China even as OpenAI and Anthropic avoid direct sales there.
SpaceX options price in 50% swing up or down by September
What's new: Traders are betting on both another surge and a steep drop as lock-up supply and valuation risks shadow the post-IPO rally.
SpaceX agreed to buy AI coding startup Cursor for $60 billion
What's next: The stock deal is expected to close in the third quarter, pending regulatory approvals.
Singapore, Microsoft forge AI safety pact for frontier model testing
What's new: The work includes multilingual testing, agentic AI research and a white paper on access to advanced models.
Bill Gates faces House questioning in Jeffrey Epstein probe
What's new: Lawmakers are expected to ask about meetings, emails and philanthropy ties after Justice Department files named Gates.
The New York Times, BBC News (US & Canada) +8
White House AI adviser Sriram Krishnan steps down
What's next: Krishnan will stay on as an outside adviser as the Trump administration pushes a lighter-touch AI policy.
Bloomberg, The Straits Times +1
Reid Hoffman to leave Microsoft board after nearly 10 years
What's next: The LinkedIn co-founder will stay on until Microsoft's annual meeting as he shifts focus to AI drug startup Manas.
Bloomberg, CNBC