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

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

📱 U.K. warns that 100 countries now possess phone-hacking spyware capabilities.
🎤 Worldcoin falsely claimed a Bruno Mars partnership that never actually existed.
💻 NVIDIA backs AI storage firm Vast Data at $30B valuation.
🛢️ Traders bet $430M on falling oil prices before Trump's ceasefire announcement.
📈 SK Hynix posts record profit as AI chip demand outpaces supply.

TECHNOLOGY

• U.K. warns that 100 countries now possess phone-hacking spyware capabilities (TechCrunch)
  ^{_{More: Politico, Tech Buzz}}

  • U.K. intelligence found over half of world governments now have access to commercial spyware tools.

  • The number of countries with hacking tools has risen to 100, up from 80 in 2023.

  • Rights groups warn governments routinely misuse spyware to target journalists and political opponents.

• Worldcoin falsely claimed a Bruno Mars partnership that never actually existed (The Verge)
  ^{_{More: WIRED, Tech Buzz}}

  • Worldcoin promoted a Bruno Mars partnership that his representatives say never took place.

  • Bruno Mars' team denied any discussions or agreements with the Sam Altman-backed crypto venture.

  • The false claim adds to existing scrutiny over Worldcoin's biometric data collection and marketing tactics.

• Google reveals that 75% of its new code is now AI-generated (Business Insider)
  ^{_{More: TOI, The Verge, MSN}}

  • Three-quarters of all new Google code is now being generated by AI tools.

  • CEO Sundar Pichai said a recent complex code migration was completed six times faster using AI agents.

  • Google engineers using Gemini models now have specific AI adoption goals tied to their performance reviews.

BUSINESS

• NVIDIA backs AI storage firm Vast Data at $30B valuation (CNBC)
  ^{_{More: Bloomberg, Tech Buzz, Yahoo!}}

  • Vast Data closed a $1B Series F funding round, reaching a $30B company valuation.

  • The round was led by Drive Capital and Access Industries, with NVIDIA and Fidelity participating.

  • AI companies globally have already raised a record $280.5B in funding so far this year.

• Traders bet $430M on falling oil prices before Trump's ceasefire announcement (Reuters)
  ^{_{More: MSN, Economic Times}}

  • A $430M bet on falling crude prices was placed just 15 minutes before Trump's ceasefire extension.

  • It marks the fourth time this month that well-timed oil bets preceded a major Iran-related announcement.

  • April's directional oil bets have now totalled $2.1B, raising serious concerns about possible insider trading.

• U.S. Navy Secretary John Phelan fired amid Pentagon leadership shakeup (NY Post)
  ^{_{More: Reuters, CNN, BBC}}

  • Phelan was dismissed after clashing with Defense Secretary Hegseth and other military leaders.

  • The firing follows Hegseth's earlier removal of the Army's top general just weeks prior.

  • Phelan's departure comes as the U.S. maintains a naval blockade against Iran.

MARKETS

WORLD

• SK Hynix posts record profit as AI chip demand outpaces supply (Reuters)
  ^{_{More: CNBC, MSN}}

  • SK Hynix reported a five-fold quarterly profit jump driven by surging AI chip demand.

  • The NVIDIA supplier warned that AI chip demand will continue to exceed its manufacturing capacity.

  • Shares have surged nearly 90% this year, pushing SK Hynix's market value past ASML's.

• Malaysia's king to personally appoint next anti-corruption agency chief (Bloomberg)
  ^{_{More: Straits Times, Reuters}}

  • Malaysia's king will personally select the next MACC chief amid misconduct allegations against the current head.

  • Commissioner Azam Baki faces growing resignation calls over misconduct and public service rule breach allegations.

  • The scandal has deepened divisions within Prime Minister Anwar Ibrahim's administration over his anti-graft commitment.

• India pilots e-rupee to fix its $80B leaky welfare system (Reuters)
  ^{_{More: Economic Times, Yahoo!}}

  • India is testing e-rupee delivery across 10 pilot programs to modernize welfare payments.

  • The central bank digital currency aims to reduce corruption and inefficiency in the $80B welfare system.

  • Critics warn that heavily programmed digital money could discourage broader adoption of the e-rupee.

FUTURISM

• Google upgrades Workspace with sweeping new AI automation tools (TechCrunch)
  ^{_{More: MSN, Tech Buzz}}

  • Google announced major AI updates to Workspace at its Cloud Next event this week.

  • A new 'Workspace Intelligence' system connects Gmail, Calendar, Drive, and Chat for automated task assistance.

  • Gemini can now build and populate Google Sheets nine times faster than manual data entry.

• Sony's ping-pong robot Ace defeats top human players for first time (CNA)
  ^{_{More: Reuters, Japan Times}}

  • Sony's AI robot Ace became the first to achieve expert-level performance in a competitive physical sport.

  • Ace uses high-speed perception and AI-based control to compete under official table tennis federation rules.

  • Previous ping-pong robots since 1983 have never been able to rival highly skilled human competitors.

• Microsoft commits $18B to Australia in its largest ever investment (CNBC)
  ^{_{More: Reuters, MSN}}

  • Microsoft's $18B Australian investment covers cybersecurity, workforce upskilling, and AI development initiatives.

  • The new commitment builds on a previous A$5B investment announced back in October 2023.

  • Australia has also attracted major AI investment from Amazon and OpenAI in recent months.

• Scale engineering without chaos. Vetted LATAM talent, smart matching, and support through onboarding.*

CONTENT

• Journalists examine Apple's future as Tim Cook officially steps down (Prof G Markets)

  • Journalists Patrick McGee and Tripp Mickle assess what Tim Cook got right and where he fell short.

  • The discussion covers what investors should expect from incoming Apple CEO John Ternus.

  • Cook's long-term legacy and its implications for Apple's future direction are also examined.

• Marc Andreessen explains how the internet reshaped news, politics, & outrage (a16z)

  • Andreessen discusses how internet-native media now drives real-time narrative spread and cultural attention.

  • He explores what makes a story become 'the current thing' and how that dynamic emerged.

  • The conversation covers legacy media's decline and why 2024 marked the first true internet election.

• Stripe's head of design breaks down the company's major website redesign (Y Combinator)

  • Stripe redesigned its website after six years to better reflect how the fintech company has evolved.

  • Head of Design Katie Dill prioritised crafting a new narrative and building stronger trust through design.

  • The redesign also addressed how Stripe's design team is adapting to new AI design tools.

EXTRAS

• OpenAI partners with Infosys to deploy AI tools across enterprise clients (TechCrunch)
  ^{_{More: Tech in Asia, Yahoo!}}

  • OpenAI's Codex and other AI tools will be integrated into Infosys's Topaz AI platform.

  • The partnership targets software modernisation, workflow automation, and large-scale AI deployment for enterprise clients.

  • Infosys shares have fallen over 22% this year amid AI disruption fears and weak forecasts.

• Japanese automakers strengthen India dominance with hybrid vehicle sales (CNBC)
  ^{_{More: MSN}}

  • Hybrid vehicles are forecast to reach 10% of Indian car sales by March 2027, doubling EVs.

  • Tesla has sold fewer than 400 cars and BYD fewer than 7k since 2025 in India.

  • Poor charging infrastructure, limited affordable EVs, and resale concerns continue to slow Indian EV adoption.

• Threads launches Live Chats to drive real-time event conversations (Engadget)
  ^{_{More: TechCrunch, Business Standard}}

  • Threads is introducing Live Chats to make the platform feel more timely and culturally relevant.

  • The feature launches first within NBA Playoff communities, hosted by media personalities including Malika Andrews.

  • Live Chats support up to 150 active participants, with additional users joining in spectator mode.

AND MORE

• X is rolling out new AI-powered custom feed features.

• Trump media replaces CEO Nunes after stock plunge wiped out billions.

• Roko’s Basilisk skips the buzz words and cuts straight to what moves markets, products, and careers.*

• India's app market booms but global platforms capture most gains.

• Tesla raises its annual capital spending plan to $25B this year.

• Nuclear energy is staging a global revival 40 years after Chernobyl.

• Shade raises $14M to help creative teams search video libraries easily.