Business & Technology

Top news events, current events and major headlines in business & technology: stock market, major tech IPOs, the trillion-dollar club, the AI race, the AI bubble, Big Tech regulation, chip wars and more.

North Korea denies FBI’s accusation of role in $6.3b Binance hack as exchange faces billions in withdrawals

North Korea denies the FBI’s claim it stole $6.3billion from Binance, as the exchange replaces missing assets and faces billions in global customer withdrawals.

Anthropic files for IPO as Claude’s rapid growth meets soaring AI costs

Anthropic files for a Nasdaq IPO, revealing surging Claude revenue, steep losses and vast computing costs as investors weigh the promise and risks of AI's rise.

Meta ordered to pay $25billion in New Mexico Facebook privacy case

A New Mexico judge ordered Meta to pay $25 billion for misleading Facebook users about privacy and harmful content. The company says it will appeal the ruling.

PHP2Shell: How a Decade-Old Flaw in the Web’s Backbone Pulled Sites Offline Worldwide

PHP2Shell flaws sent websites offline worldwide as governments raced to patch servers, exposing the risks of aging web infrastructure and AI-driven cyberattacks.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

Australia gives social media users an algorithm “off switch” in landmark digital duty-of-care bill

Australia’s draft “digital duty of care” bill lets users opt out of social media algorithms, imposes A$109m fines and strengthens under‑18 safety rules.

AI RACE

Anthropic files for IPO as Claude’s rapid growth meets soaring AI costs

Anthropic files for a Nasdaq IPO, revealing surging Claude revenue, steep losses and vast computing costs as investors weigh the promise and risks of AI's rise.

Trump’s ‘morally binding’ AI pact puts tech giants in the referee’s seat

Trump and six AI CEOs signed a voluntary “morally binding” safety accord—no legal teeth, a glaring typo, and big questions over audits and enforcement.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

Trump announces ‘AI Force’ and new AI czar, doubling down on pro‑growth stance

Trump announces a federal “AI Force” and new AI czar, modeled on Space Force, to keep the US ahead of China while rejecting new rules that could slow AI growth.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

OpenAI declares ‘AGI era’ with GPT‑6 Astra launch

OpenAI rolled out GPT‑6 Astra, framing the release as the industry’s closest step yet to artificial general intelligence.

NVIDIA acquires Hugging Face in $12.93billion bet on Open-Source AI

NVIDIA will acquire Hugging Face, the New York–based platform widely described as the “GitHub for AI for $12.93billion.

INDUSTRY DEVELOPMENTS

Shein’s Hong Kong debut exposes the limits of fast fashion’s growth machine

The long-awaited listing immediately exposed investors’ doubts about the fast-fashion retailer’s growth prospects.

Amazon joins $3trillion club as AI-driven cloud boom powers record rally

Amazon became only the fifth company in history to reach a US$3T valuation, joining Nvidia, Alphabet, Apple and Microsoft.

Trump Media launches paid “fast lane” to Truth Social posts, sparking insider-trading alarms

TMTG spokesperson Shannon Devine has argued that critics are inventing a "new theory of ‘insider trading’ based on publicly available information".

Trump turns on oil giants: “Too much money” from Iran war profits

The remarks came after ExxonMobil and Chevron posted blockbuster earnings attributed to war‑driven supply shocks and elevated crude prices.

China hits Trip.com with $770million antitrust fine in sweeping crackdown on online travel market

The penalty follows a six-month investigation launched in January 2026, but authorities found that the anti-competitive conduct stretched back as far as 2020.

SK Group chairman Chey Tae-won ordered to pay $640million in South Korea’s “divorce of the century”

South Korean media has long called the case the "divorce of the century" involving one of the country’s most powerful family-controlled conglomerates.

DeepSeek Eyes 2027 IPO as valuation soars and founder tops global AI wealth rankings

The planned IPO comes amid a sharp rise in DeepSeek’s valuation and revenue, underscoring intensifying competition among AI firms to secure capital.

North Korea denies FBI’s accusation of role in $6.3b Binance hack as exchange faces billions in withdrawals

North Korea denies the FBI’s claim it stole $6.3billion from Binance, as the exchange replaces missing assets and faces billions in global customer withdrawals.

Anthropic files for IPO as Claude’s rapid growth meets soaring AI costs

Anthropic files for a Nasdaq IPO, revealing surging Claude revenue, steep losses and vast computing costs as investors weigh the promise and risks of AI's rise.

Meta ordered to pay $25billion in New Mexico Facebook privacy case

A New Mexico judge ordered Meta to pay $25 billion for misleading Facebook users about privacy and harmful content. The company says it will appeal the ruling.

PHP2Shell: How a Decade-Old Flaw in the Web’s Backbone Pulled Sites Offline Worldwide

PHP2Shell flaws sent websites offline worldwide as governments raced to patch servers, exposing the risks of aging web infrastructure and AI-driven cyberattacks.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

Australia gives social media users an algorithm “off switch” in landmark digital duty-of-care bill

Australia’s draft “digital duty of care” bill lets users opt out of social media algorithms, imposes A$109m fines and strengthens under‑18 safety rules.

OpenAI declares ‘AGI era’ with GPT‑6 Astra launch

OpenAI rolled out GPT‑6 Astra, framing the release as the industry’s closest step yet to artificial general intelligence.

NVIDIA acquires Hugging Face in $12.93billion bet on Open-Source AI

NVIDIA will acquire Hugging Face, the New York–based platform widely described as the “GitHub for AI for $12.93billion.

Meta agrees to up to $18B settlement, sweeping teen safeguards on Facebook and Instagram

Over the next decade, Meta must enforce a suite of default protections for teen accounts on Facebook and Instagram, with many controls adjustable only by a parent or guardian.

Anthropic to watermark Claude-generated text worldwide under EU AI transparency rules

The move follows Anthropic’s decision to sign the European Union’s Code of Practice on Transparency of AI-Generated Content.

AI agents cross a new line as Meta joins Anthropic and OpenAI in test-environment breaches

Frontier models have accessed real systems, impersonated people and attempted to manipulate software developers during cybersecurity evaluations.