OpenAI’s proposal to hand the U.S. government a 5% equity stake (~$42.6B) in a new “Public Wealth Fund,” part of a broader push to defuse political pressure — a move that could extend to Anthropic, Google, and Meta. Alphabet lost its final EU appeal on a $4.7B Android antitrust fine. Meta and Microsoft both made major AI-infrastructure moves (Meta’s new cloud business, Microsoft’s $2.5B “Frontier Company”), while Amazon confirmed it’s building custom AI silicon for consumer devices. In autos, Tesla beat delivery estimates but its stock still fell, while Rivian surged on raised guidance and Lucid missed and reshuffled leadership. Palantir jumped on a new Nvidia partnership and news of a Trump stake. Apple is reportedly diversifying its chip and memory supply chain, including exploring Chinese suppliers, amid a broader industry memory shortage.
- OpenAI — Reportedly proposed giving the U.S. government a 5% equity stake (~$42.6B at its $852B valuation) via a “Public Wealth Fund” modeled on the Alaska Permanent Fund; Sam Altman has discussed the idea with Trump, Lutnick, and Bessent. Separately, SoftBank closed the second $10B tranche of its planned $30B OpenAI investment (July 1).
- Anthropic — Named as a potential participant in the proposed government equity-stake framework alongside OpenAI, Google, and Meta. Claude Fable 5 access, previously suspended under export controls, was confirmed fully restored.
- Alphabet (Google) — Lost its final EU court appeal over a record €4.1B (~$4.7B) Android antitrust fine; the ruling is legally binding with no further appeal possible. Google said it disagrees with the ruling.
- Apple — Reports (Bloomberg/Nikkei) say Apple plans at least five new iPhones through 2027, is ramping foldable iPhone production to ~10 million units, and is in talks with Chinese memory makers ChangXin and Yangtze Memory Technologies amid a global memory shortage. A refreshed 14-inch MacBook Pro with an M6 chip is also expected later this year.
- Amazon — Devices chief Panos Panay confirmed Amazon designs its own end-to-end AI silicon (AZ3/AZ3 Pro chips) for Echo and Fire TV; analyst Ming-Chi Kuo reports Amazon may expand custom chip design (via partner Alchip) to Kindle, Ring, and Blink starting 2027.
- Meta Platforms — Unveiled “Meta Compute,” a plan to sell surplus AI infrastructure/compute to outside customers, competing with AWS, Azure, and Google Cloud; shares jumped ~9-10% (largest single-day move of 2026), while GPU-cloud rivals CoreWeave and Nebius fell sharply.
- Microsoft — Launched “Microsoft Frontier Company,” a $2.5B initiative embedding ~6,000 engineers/consultants inside enterprise clients to accelerate AI adoption — a direct response to Amazon’s similar $1B forward-deployed-engineering unit announced two days earlier.
- Nvidia — Announced a new strategic AI partnership with Palantir focused on deploying AI models for U.S. government agencies and critical infrastructure, helping fuel a 9%+ Palantir stock rally.
- Palantir — Shares surged after the Nvidia partnership, an expanded deal with Surf Air Mobility, a new U.S. Army Foundry contract, and disclosure that President Trump holds a stake in the company.
- SpaceX — WSJ reported SpaceX showed investors a prototype AI handset (denied by Elon Musk, “utterly false”); stock fell ~7% on the denial. Separately, analysts highlighted SpaceX’s growing AI-infrastructure business (Colossus data centers, deals with Google, Anthropic, Reflection AI) ahead of its July 7 Nasdaq-100 inclusion.
- Tesla — Reported Q2 deliveries of 480,126 vehicles, beating estimates (~406,600) by a wide margin, but shares still fell about 7% on broader market/valuation concerns.
- Rivian — Delivered 12,194 Q2 vehicles, beating its own guidance, and raised full-year 2026 delivery guidance to 65,000–70,000 units; stock jumped ~11%.
- Salesforce — Upgraded to Buy by Guggenheim, which called the ~40% YTD selloff overdone, though it flagged AI as a long-term risk to growth.
- UiPath — Shares ticked up modestly as investors await the next earnings update to gauge traction of its agentic-automation strategy.
- Intel — Stock fell 9% in a single day after roughly a 270% run-up in the first half of 2026, as chip-sector sentiment cooled broadly.
