Analysis: US tech companies have cut ~140K jobs YTD, or more than 33% of announced US layoffs in 2026, with ~50K cuts from Amazon, Oracle, Meta, and Microsoft (Financial Times)
Preliminary findings: the EU Commission says TikTok's accounts for minors violate the DSA, citing features that could expose children to bullying and predators (Foo Yun Chee/Reuters)
The US OCC denies Wise's application to create a national trust bank, citing incompatibility with new Federal Reserve policies; Wise says it plans to reapply (Simone Lobo/Reuters)
Sources: OpenAI told Hugging Face only this week its models caused the July 11 hack; the models appear to have been active online for days before being stopped (Wall Street Journal)
A look at China's push to catch up with US AI chips; sources: its Vice Premier warned AI companies that anyone who resisted using local chips was a traitor (Wall Street Journal)
ServiceNow invests $40M in banking software specialist BusinessNext, valuing the 24-year-old Indian company at $700M and taking a roughly 5% stake (Jagmeet Singh/TechCrunch)
Dassault Systèmes agrees to acquire ArisGlobal, a US supplier of software to the life sciences industry, from Nordic Capital for ~$2B, set to close in H2 2026 (Adrià Calatayud/Wall Street Journal)