TECH
SpaceX completes $85.7 billion IPO, moves to buy Cursor for $60 billion
SpaceX closed a historic $85.7 billion IPO, becoming a publicly traded company. Days later the firm announced a $60 billion stock deal to acquire AI‑coding startup Cursor, a move aimed at bolstering its AI division. The Verge framed the purchase as a bid to catch up with OpenAI and Anthropic, while TechCrunch highlighted the IPO’s size, the projected $26 trillion AI market, and the deal’s expected Q3 2026 close.
UK to ban social media for users under 16
The UK government announced a plan to prohibit children under 16 from accessing major social‑media platforms from spring 2027, with mandatory age‑verification and possible overnight curfews. Ars Technica reports the ban will also block livestreaming, stranger contact and certain AI chatbots, while Meta and YouTube warn it could push teens toward unregulated services. Privacy advocates such as the Electronic Frontier Foundation argue the age checks threaten user privacy and limit access to useful information, and some politicians are calling for an age‑rating system instead.
U.S. government forces Anthropic to shut down top AI models
TechCrunch reported that the U.S. Commerce Department issued an export‑control letter demanding Anthropic withdraw its Fable 5 and Mythos 5 models, prompting the company to suspend access for all customers. The action was linked to a reported guard‑rail bypass in the models, a concern echoed by security researchers cited by the Wall Street Journal. Axios added that the move may reflect personal frictions between Anthropic and the Trump administration rather than a purely technical issue.
Meta threads hits 500 million monthly active users, adds new features
The Verge reports that Threads has passed 500 million monthly active users, a milestone reached just before its third anniversary. Meta is rolling out a communities hub, visual identity options for communities, and new algorithm controls such as the “Your Algo” feature, initially available in several English‑speaking markets.
India temporarily bans Telegram amid NEET exam fraud concerns
TechCrunch reports that India's National Testing Agency ordered a nationwide block of Telegram until June 22 to curb cheating networks ahead of the NEET (UG) re‑test on June 21. The agency also asked the platform to disable its message‑editing feature until June 30, saying it was being used to fabricate exam‑paper leak evidence. Digital rights group Internet Freedom Foundation criticised the move as a disproportionate, blanket ban under Section 69A of the IT Act, calling it a band‑aid solution.
Commodore revives brand with flip phone that blocks social media
Commodore, now owned by Christian Simpson, has launched the Callback 8020 flip phone, which runs Sailfish OS, supports most Android apps, and uses patent‑pending technology to block browsers and social media at the system and DNS levels. Ars Technica highlights features such as a whitelisted app store, swappable covers, an 8‑bit SID music player, and pricing between $500 and $640, positioning the device against other distraction‑free phones.
ChatGPT drops below 50% market share as rivals gain ground
According to Sensor Tower’s State of AI Report, OpenAI’s ChatGPT fell to a 46.4% share in May 2026, slipping below the 50% threshold for the first time as Google’s Gemini and Anthropic’s Claude expanded to 27.7% and 10.3% respectively. User switching accelerated after OpenAI’s February deal with the U.S. Department of Defense, while Gemini benefits from Google’s ecosystem and Claude leads in subscription conversion at 13%. Despite the dip, ChatGPT remains the most used assistant with over 1.1 billion monthly users and is now monetizing through ads shown to 17% of daily users and growing premium spending in the U.S.
Meta launches AI mode search using public posts across its apps
The Verge reports that Meta has introduced an “AI Mode” option in Facebook search that returns AI‑generated answers drawn from publicly posted content on Facebook, Instagram and Threads. The feature relies on Meta’s Muse Spark model, allows follow‑up questions, and is part of a broader rollout that includes photo presets and collage‑template suggestions.
Qualcomm eyes $10 billion buy of RISC‑V AI chip startup Tenstorrent
Qualcomm is reportedly in talks to acquire Canadian AI‑chip maker Tenstorrent in a deal valued at $8‑10 billion, according to an anonymous source cited by The Information. The Register emphasizes that the purchase would be a major RISC‑V power play, bolstering Qualcomm’s datacenter ambitions and distancing it from Arm. The chip startup, led by industry veteran Jim Keller, offers the Galaxy Blackhole AI compute platform built on the permissively licensed RISC‑V architecture. Qualcomm’s recent acquisition of Ventana Micro Systems underscores a broader push into RISC‑V designs.
Ars Technica: Isar Aerospace scrubs Spectrum test flight over fluid system glitch
According to Ars Technica, Isar Aerospace postponed the second test flight of its 28‑meter Spectrum rocket from Norway’s Andøya Spaceport after detecting abnormal behavior in the vehicle’s fluid systems. This is the fourth launch attempt in five months, following earlier cancellations due to a pressurization valve fault, fuel temperature rise, and a suspected pressure‑vessel leak, underscoring the firm’s quest for flight experience despite receiving up to €205 million from ESA and over €800 million in private funding. The ESA‑backed mission, carrying five CubeSats, remains unscheduled as the launch window runs through June 21.