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Dropbox founder Drew Houston steps down as CEO after 19 years as the company he built gets squeezed by Google and Apple

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  Drew Houston, the co-founder who built Dropbox from a Y Combinator demo into a company with more than 700 million registered users, is stepping down as chief executive. Ashraf Alkarmi, Dropbox’s current head of product, has been named co-CEO effective immediately. After a transition period, Houston will become executive chairman and Alkarmi will take […]

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Brussels plans to ringfence two-thirds of EU mobile-satellite spectrum for European firms

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The proposal expected to be announced on Wednesday would leave Starlink and Amazon’s Kuiper able to bid only for the remaining third of the bloc’s 2 GHz mobile-satellite band. The European Commission is preparing to reserve two-thirds of the bloc’s future mobile-satellite-services spectrum for European operators, leaving Starlink, Amazon’s Project Kuiper and other non-EU companies […]

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Stord raises $250 million to give independent brands the shipping speed they need to compete with Amazon

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Stord, a logistics technology company that helps retailers manage inventory, checkout, and fulfillment, has raised $250 million in a Series F round that values the company at $3 billion. The round was led by Strike Capital with participation from Founders Fund, Kleiner Perkins, Franklin Templeton, Baillie Gifford, G Squared, and Bond. The funding doubles Stord’s valuation […]

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xAI told staff to stop mingling with Cursor employees, weeks after they started working together

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  Elon Musk’s xAI has told employees to limit their contact with staff from Cursor , the AI coding startup that SpaceX has an option to acquire for $60 billion. The directive came from James Burnham, xAI’s general counsel and former chief lawyer at the Department of Government Efficiency, according to Bloomberg. Burnham sent guidelines to […]

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Spotify tests narrated magazine articles inside the audiobook tier

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Spotify began testing a new content format on Tuesday: narrated long-form magazine articles, slotted in alongside audiobooks rather than podcasts. The launch announced from the company’s newsroom on Tuesday morning, includes more than 650 English-language pieces from a roster that runs through Rolling Stone, The Atlantic, Vogue, Variety, Billboard, Vibe, GQ, WIRED, Vanity Fair and Pitchfork. […]

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Honeywell’s Quantinuum settles on $12.7bn IPO target after $20bn whisper

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Quantinuum, the quantum-computing company majority-owned by Honeywell, is targeting a valuation of $12.7bn in its US IPO, according to a Reuters report on Tuesday, a level materially below the $20bn-plus figure that circulated earlier in May when the company filed its S-1. The new figure puts the IPO at roughly 27% above the $10bn pre-money valuation […]

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BNP Paribas works with Mistral on a European answer to Anthropic’s Mythos

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BNP Paribas is working with Mistral AI to prepare for a category of AI cybersecurity tools its US peers already use and its European supervisors cannot reliably get hold of, according to a Bloomberg report on Tuesday. The Paris-based bank, the eurozone’s largest by assets, is one of several European institutions helping Mistral develop a […]

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SpaceX wants the Pentagon to pay five times more for Starlink in the Iran war

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With US strike drones over Iran relying on Starlink for guidance, SpaceX has told the Defense Department the current $5,000-per-terminal rate undervalues what the network is actually doing. SpaceX has told the US Defense Department that it should be paying around $25,000 per terminal for the Starlink links guiding American strike drones over Iran, rather […]

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Pony AI raises year-end fleet goal to 3,500 robotaxis after a strong Q1

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Pony AI, the Beijing-based driverless car company, raised its 2026 year-end robotaxi fleet target on Tuesday to more than 3,500 vehicles, up from a previous 3,000, after reporting first-quarter robotaxi revenues that rose 395% year-on-year. The revised guidance came in the company’s Q1 2026 earnings release on Tuesday. Pony AI’s robotaxi fleet has already passed 1,700 vehicles, […]

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China extends AI travel curbs from DeepSeek to other private firms

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Top researchers at private Chinese AI companies are being asked to surrender passports, in a quiet expansion of the controls that began at DeepSeek earlier this year. China is widening its informal travel restrictions on senior AI researchers, extending controls that began at DeepSeek earlier this year to a broader group of private-sector firms working at the […]

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