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

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

💬 OpenAI removes text chat limits for all ChatGPT users, including free accounts.
🕵️ China-linked LightSpy now targets victims across 13 countries, including the U.S.
🏭 Tesla & SpaceX will invest $16.8B in Terafab, a Texas chip factory.
🪧 TikTok will close its Nashville office in October, cutting 250 moderation jobs.
📦 China's exports beat forecasts in July as the AI boom lifts demand.

TECHNOLOGY

• OpenAI removes text chat limits for all ChatGPT users, including free accounts (The Verge)
  ^{_{More: CNET, TechCrunch, MacRumors}}

  • ChatGPT, now past 1B weekly users, is dropping all limits on text-based conversations.

  • GPT-5.6 Luna becomes the default for Free and Go users, adding a 'Think' button.

  • Plus and Pro users get upgraded GPT-5.6 Sol plus a slider controlling how much it thinks.

• China-linked LightSpy spyware now targets victims across 13 countries, including the U.S. (Bloomberg)
  ^{_{More: TechCrunch, Straits Times}}

  • Arctic Wolf researchers say LightSpy has expanded from mainland China into Europe, the U.S., and beyond.

  • Once state-linked, it now runs as a commercial platform with branding, billing, and demos for buyers.

  • The modular spyware steals locations, messages, and passwords across devices, and can remotely wipe them.

• Facing label lawsuits, Suno will watermark AI songs & limit downloads (TechCrunch)
  ^{_{More: Engadget, Yahoo!}}

  • Suno will watermark and fingerprint AI tracks to stop misuse on other streaming platforms.

  • The company is also limiting downloads and updating guidelines to discourage copycat songs.

  • Suno signed Musixmatch's Sentinel system for copyright detection as label lawsuits pile up.

BUSINESS

• Tesla & SpaceX will invest $16.8B in Terafab, a Texas chip factory (Reuters)
  ^{_{More: TechCrunch, Yahoo!}}

  • Tesla and SpaceX will build Terafab in Grimes County, Texas, investing $16.8B initially.

  • Musk calls it Earth's largest building, spanning over 100M square feet with at least 3k workers.

  • SpaceX filings suggest spending up to $119B across a multi-phase build supporting Musk's compute demands.

• TikTok will close its Nashville office in October, cutting 250 moderation jobs (NY Times)
  ^{_{More: LA Times, TechCrunch, TNW}}

  • TikTok is cutting 250 jobs and closing the Nashville office that housed content moderation staff.

  • A spokesperson said the closure will streamline operations and align teams for long-term growth.

  • The office, leased in 2024, closes October 5 as platforms lean on AI for moderation.

• A New Mexico court orders Meta to pay $567M over teen harm (AP)
  ^{_{More: Reuters, CNN, Washington Post}}

  • A New Mexico judge ordered Meta to pay $567M into a teen mental health fund.

  • Judge Bryan Biedscheid found Meta created a public nuisance by designing products that addict minors.

  • Meta must add teen-use limits for five years and says it will appeal the ruling.

MARKETS

WORLD

• China's exports beat forecasts in July as the AI boom lifts demand (Bloomberg)
  ^{_{More: Nikkei, Reuters, Business Times}}

  • China's July exports rose 23.9% year-on-year, topping the 22.2% gain forecast in a Reuters poll.

  • Growth slowed from June's 27% surge as exporters rushed shipments ahead of higher U.S. tariffs.

  • Imports climbed 27.5%, while weak domestic demand leaves China exposed to rising global protectionism.

• Akasa Air backs letting India's airport operators own airlines, citing competition (Economic Times)
  ^{_{More: Bloomberg, TOI}}

  • Akasa Air's CEO backs letting airport operators own airlines, arguing India needs more aviation competition.

  • IndiGo's co-founder disagrees, warning the arrangement could create clear conflicts of interest.

  • The government will weigh all factors, saying it supports both existing and new airline operators.

• Police say a student killed at least six at a Bangkok-area school (CNN)
  ^{_{More: CBS, AP, Al Jazeera}}

  • A student opened fire at Debsirin Nonthaburi School outside Bangkok on Friday, killing at least six.

  • Police said three teachers and three students died, with 15 injured and two critical.

  • The suspected shooter is hospitalized in serious condition, though official casualty figures remain conflicting.

FUTURISM

• OpenAI's donut-shaped smart speaker will reportedly cost $300 to $400 per unit (Engadget)
  ^{_{More: Bloomberg, PYMNTS, Firstpost}}

  • Bloomberg reports OpenAI's donut-shaped device will use high-quality metal, a premium look, and unexplained moving parts.

  • The shape lets users carry it around the home, placing it on bedside tables or kitchen counters.

  • At $300 to $400, it would top Amazon's speakers, which range from $40 to $240.

• Google Wallet now lets parents create controlled spending balances for their children (CNET)
  ^{_{More: TechCrunch, Mashable, Engadget}}

  • Google Wallet now lets parents set up a secure balance for children under 18.

  • Parents can cap daily spending, review transactions, get purchase alerts, and lock the account remotely.

  • The feature pushes Google against Apple Cash Family and kid-focused startups like Greenlight and FamZoo.

• Gen Z startups like Ditto replace endless swiping with AI-driven matchmaking (TechCrunch)
  ^{_{More: Yahoo!, Mashable}}

  • Ditto, built by two Berkeley dropouts, swaps swiping for an AI matchmaker aimed at students.

  • Co-founder Allen Wang says peers are tired of endless swiping and small talk online.

  • Students join by texting an iMessage number, then a chatbot arranges real dates every Wednesday.

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CONTENT

• Simon Mo explains how open-source AI became critical infrastructure for developers (a16z)

  • Inferact CEO Simon Mo traces open-source AI from research project to critical infrastructure.

  • The talk covers vLLM's origins, open-weight models, and why companies want infrastructure control.

  • Mo argues inference is now a key layer and the open-versus-closed model gap is closing.

• Garry Tan on personal AGI: AI agents running on your own infrastructure (Y Combinator)

  • YC's Garry Tan says personal AGI means AI agents running on your own infrastructure.

  • He argues founders should own their intelligence rather than rent it from outside providers.

  • At Startup School 2026, Tan shared daily tools letting far smaller teams build companies.

• China outbuilds the U.S. 230-to-1 at sea & Saronic has a plan (All-In Podcast)

  • Saronic's founders say China outbuilds the U.S. in shipbuilding by roughly 230 to one.

  • They contrast $3B destroyers with cheap autonomous boats, noting only 1% of budgets fund autonomy.

  • Saronic announced Port Alpha in Brownsville, a 4k-acre site expected to create 10k jobs.

EXTRAS

• Typhoon Dolphin forces evacuations in southwestern Japan & grounds 500-plus flights (Reuters)
  ^{_{More: Japan Times, The Independent}}

  • Nearly 260k residents in Kagoshima and Okinawa were ordered to evacuate as Dolphin approached.

  • The Category 1 storm carried 144 kph winds, with gusts hitting 198 kph.

  • Over 500 flights were canceled, and Toyota suspended work at nine factories on Friday.

• A poll gives New Zealand's coalition a one-seat majority as newcomers surge (AOL)
  ^{_{More: Reuters, Straits Times}}

  • A new poll gives New Zealand's center-right coalition 61 of 120 seats, a one-seat majority.

  • The Opportunity Party hit 6.1%, clearing the 5% threshold and taking eight seats, mostly from Labour.

  • Prime Minister Christopher Luxon has ruled out working with Opportunity, narrowing his options before November's election.

• Europe's heat wave triggers red alerts across Italy as Austria breaks record (AP)
  ^{_{More: CBS, Euronews}}

  • Italy put all major cities under its highest heat alert as Europe's heat wave intensified.

  • Austria set a national temperature record while wildfires spread in France and temperatures topped 40C.

  • The heat strained power, transport, and health systems as scientists warn such events will intensify.

AND MORE

• How U.S. and Japan intervention could reshape global currency markets.

• Bumble hints at dropping swipes while pushing more in-person dating events.

• Explore all the tools and more here to outperform the competition.*

• eBay is doubling down on live shopping after posting a record quarter.

• U.S. hospitals see a surge in nausea cases among frequent marijuana users.

• Ford's new electric pickup, the Fathom, will start at $28,350.

• Senator Jon Husted urges Max Miller to resign & drop his campaign.