Meta’s Adam Mosseri says AI token budgets could soon be capped per engineer
Meta may impose AI token spend caps for engineers.
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The day in brief
In celebration of its 25th anniversary, Google Images has launched a redesigned homepage that offers personalized photo recommendations, enhancing user engagement through a dynamic gallery. Meanwhile, Google Search has introduced an AI image generation feature that creates images when no matching results are found, aiming to keep users on the platform longer.
Demis Hassabis, CEO of Google DeepMind, has proposed the establishment of a U.S.-led global AI regulatory body to oversee the development and deployment of artificial intelligence technologies. This initiative aims to address national security risks and would function as a public-private partnership, similar to FINRA, with independent experts reviewing AI models before their release.
The upcoming Pixel Watch 5 is set to launch on August 12, showcasing four distinct finishes: Dark Anthracite, Natural Silver, Pyrite, and Warm Gold. While the 41mm variant will feature all four finishes, the 45mm model will exclude the Warm Gold option. Additionally, the watch will introduce a new analog clock face design and is expected to be powered by a 'wearable-class Tensor chip' with a starting price of $399.
Warren Buffett is ramping up his charitable contributions with a goal to donate all of his Berkshire Hathaway shares by December 31, 2034. This year alone, he has donated nearly $6 billion to four family foundations, marking a significant increase in his annual giving. Notably, the Gates Foundation, which has received over $47 billion from Buffett since 2006, will no longer be a recipient due to strained relations.
Samsung's upcoming Galaxy Z Fold 8 features a significant redesign with a wider form factor, positioning it between the previous Galaxy Z Flip and Fold models. The official launch is set for July 22, 2026, alongside the Galaxy Z Flip 8 and Fold 8 Ultra. Additionally, Samsung will no longer offer free storage upgrades for these new foldable devices, requiring customers to pay 50% of the price difference for any upgrades.
In Q2 2026, Apple experienced a significant surge in smartphone shipments in China, achieving a 24.4% increase despite an overall market decline. This growth propelled Apple from fifth to second place in the Chinese smartphone market, capturing 18.1% of the share, while the total smartphone market saw a 4.3% drop with 66 million units shipped.
In a recent interview, Instagram head Adam Mosseri suggested that Meta may soon need to impose limits on AI token spending per engineer, potentially within the next one to two years. He noted that the burn rate for a strong engineer could match their salary, necessitating budget caps to manage costs effectively. This comes as Meta's internal AI token expenses are on track to reach billions in 2026, prompting the company to rethink its AI experimentation strategy. Other tech giants, including Uber and Microsoft, are also reevaluating their AI budgets due to soaring costs.
Jim Cramer urged investors not to heed KeyBanc's downgrade of Apple, which lowered the stock's price target to $250 from its closing price of $317. He dismissed concerns about slowing iPhone upgrade cycles and potential impacts on Apple's services business as conjecture, emphasizing his belief in the company's fundamentals. Meanwhile, IBM's shares fell 26% after it preannounced a weaker quarter, attributed to a shift in customer spending towards infrastructure. Cramer noted that this trend highlights the ongoing migration of AI-related spending, which he believes will benefit companies like Intel, in which he recently increased his position.
Anthropic has launched the Claude for Teachers initiative, granting K-12 educators in the United States free access to premium features of its Claude AI. This program, announced on July 14, 2026, allows verified teachers to utilize a suite of education-focused skills developed in collaboration with Learning Commons. These skills are designed based on feedback from teachers, ensuring they align with classroom needs. Eligible educators can apply for this offer until June 30, 2027, which includes a full year of premium access to Claude Cowork and Claude Code.
A recent survey by Verasight reveals that 69% of Americans support requiring major AI companies, including OpenAI and Anthropic, to transfer 50% of their stock into a public sovereign wealth fund. This proposal, backed by Sen. Bernie Sanders, aims to ensure that the financial gains from AI advancements benefit the broader society rather than just Big Tech investors. With Anthropic valued at $965 billion and OpenAI at $730 billion, the debate intensifies as AI's economic impact grows, especially amid concerns over job displacement for approximately 15 million U.S. workers over the next decade.
Anthropic has announced a commitment of $10 million CAD to advance AI research in Canada, recognizing the country's historical contributions to the field. This funding will support eight key institutions, including the Alberta Machine Intelligence Institute, Mila, and the Vector Institute, focusing on responsible AI applications across sectors such as health and safety. Additionally, Anthropic is publishing its first Canadian country brief, revealing that Canada ranks eighth in global Claude.ai usage, with Canadians utilizing the platform at a rate four times higher than expected based on population metrics.
Frontier Airlines announced it will introduce in-flight Wi-Fi powered by SpaceX's Starlink in early 2027, marking a significant shift for the airline, which currently lacks any Wi-Fi services. This move comes as part of a broader trend among budget carriers to enhance passenger amenities, with Frontier joining four other airlines—Volaris, Wizz, Jetsmart, and Cebu Pacific—in adopting Starlink's satellite internet technology. The airline's previous hesitance to implement Wi-Fi was due to concerns about the additional weight of the necessary equipment. Major airlines like United and American have already integrated Starlink services, reflecting a growing expectation for high-quality internet in the skies.
Meta has open-sourced Brain2Qwerty v2, a noninvasive brain-computer interface that decodes thoughts into text with a word accuracy of 61%. This performance is a significant improvement over other non-invasive techniques, which average only 8%. The system employs a three-stage deep-learning model that processes brain signals from electroencephalography (EEG) and magnetoencephalography (MEG), with MEG yielding a character error rate of 29%, compared to 65% for EEG. Meta aims to enhance communication for individuals with brain lesions and has committed $5 million to support open datasets through its Digital Brain Project.
TikTok's policy chief, Ali Law, defended the platform's safety measures during a CNBC interview, revealing that it has over 50 preset safety settings for users under 16. This comes as the European Union advances plans to restrict children's access to social media, with EU Commission President Ursula von der Leyen advocating for an age limit on platforms. Law emphasized TikTok's commitment to ensuring a safe user experience, noting that the platform spent $2 billion on trust and safety initiatives last year to address concerns about addictive features like infinite scrolling and autoplay.
Samsung is preparing to release the SmartTag 3 Bluetooth tracker later this year, likely alongside the Galaxy S26 FE. The SmartTag series has established itself as a leading option in the Bluetooth tracking market, particularly due to its integration with the SmartThings network, which benefits from the extensive user base of Galaxy devices. While lacking ultra-wideband (UWB) connectivity, the SmartTag 2 has shown superior performance in tracking accuracy compared to competitors like the Apple AirTag. The upcoming SmartTag 3 is expected to enhance these features further.
TerraFirma, a construction tech startup founded by two former SpaceX engineers, has successfully raised $115 million in a funding round led by Kleiner Perkins and Bain Capital Ventures. The Austin-based company aims to revolutionize the construction industry by using remote operation interfaces, such as Xbox controllers, to enhance safety and reduce costs. With plans to hire 300 employees over the next year, TerraFirma will also establish a factory and mission control center in Texas. Long-term, the company envisions building infrastructure on Mars, capitalizing on the growing optimism surrounding space exploration spurred by SpaceX's recent $86 billion IPO and NASA's lunar ambitions.
GMI Cloud, a US-based data center operator and Nvidia partner, is pursuing a NT$20.45 billion ($635 million) multi-tranche loan aimed at financing graphics processing units. This initiative is one of the first GPU-backed loans in Asia, driven by increasing demand for artificial intelligence technologies. The loan, which includes a five-year term tranche of NT$13.9 billion, is supported by contracts with customers and has been presented to banks in Taiwan's syndication market.
The archive
Meta may impose AI token spend caps for engineers.
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Jim Cramer advises against selling Apple stock.
Read sourceSpotify introduces AI chatbot for music and podcasts.
Read sourceAI spending impacts tech market dynamics significantly.
Read sourceGoogle Search introduces AI image generation feature.
Read sourceChamath Palihapitiya warns of AI spending impacts on earnings.
Read sourceOpen models gain traction over frontier AI models.
Read sourceBuffett aims to donate all Berkshire wealth by 2034.
Read sourceTelegram's t.me domain restored after OFAC-related suspension.
Read sourceSurvey reveals public support for AI wealth redistribution.
Read sourceBIS warns of potential financial turmoil from AI investments.
Read sourceBailey warns of potential economic impact from AI bubble.
Read sourceDemis Hassabis advocates for U.S. AI standards leadership.
Read sourceKey market updates and earnings reports for investors today.
Read sourceAnthropic invests in Canadian AI research institutions.
Read sourceMacWhisper 14 introduces a redesigned transcript editor and improved performance.
Read sourceDemis Hassabis calls for a US-led global AI regulatory body.
Read sourceReflect Orbital's Eärendil-1 satellite receives FCC approval.
Read sourceChatGPT is now available on WhatsApp in Europe.
Read sourceAnthropic offers free premium AI access to teachers.
Read sourceDeepMind's CEO proposes new AI governance framework.
Read sourceNew York imposes a year-long data center construction moratorium.
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