Apple is raising prices on its devices to offset quadrupled memory chip costs driven by AI server demand.
 

Apple is raising prices on its products as memory and storage chip costs have become unsustainable to absorb. Since 2025, competition from Google, Microsoft, Meta, and Amazon for AI server components has quadrupled these chip prices. The next iPhone Pro could jump $270 to $1,299, while Mac and iPad increases could arrive even sooner.

This isn't a surprise; the company flagged in May 2026 that memory costs would weigh heavily on its business. With chip prices expected to keep climbing into 2027, Apple is choosing to pass these costs onto customers rather than risking less profit per product.

SpaceX raised $75 billion in the largest stock market debut in history, beginning trading on June 12.
 

SpaceX went public for the first time, raising $75 billion by selling shares of the company to outside investors, the largest stock market debut in history, and more than double the previous global record. Going public means anyone can now buy a piece of the rocket and satellite company, which has been privately held for over two decades.

The company led by Elon Musk instantly becomes one of the largest companies on the market. At $135 per share, it entered markets at a valuation of roughly $1.8 trillion. Last year, the company earned only about $19 billion in revenue, mostly from its Starlink satellites with 10.3 million users. The AI space tech giant isn't profitable, losing nearly $5 billion in 2025, thanks to its xAI division.

Demand for a piece of Elon Musk's empire was enormous: investors tried to buy more than four times the shares available, and retail investors alone submitted $100 billion in orders. SpaceX plans to expand its Starship launches and build AI data centers in space, though the company has not yet turned a profit.

Robinhood is cutting 300 jobs to trim middle management while its trading business hits record volumes.

Robinhood is cutting about 300 jobs, roughly 10% of its workforce. CEO Vlad Tenev said the business has never been stronger, and June trading volumes across stocks, options, and prediction markets are at record levels. The cuts target middle management, the layers of directors and managers between senior leadership and the teams building products. By removing those layers, Robinhood expects decisions to get made faster and products to reach customers more quickly.

Robinhood is the latest financial technology company to cut jobs this year, though, unlike many of its peers, it is not blaming AI for the reductions. The cuts will cost roughly $28 million in severance and related expenses. To reduce its reliance on trading revenue, which swings with market conditions, Robinhood has expanded into retirement accounts, wealth management, and credit cards.

Snap launched $2,195 augmented reality glasses, betting people are tired of staring at their phone screens.

Snap introduced Specs, its first augmented reality glasses for everyday consumers. Augmented reality glasses project digital images into the wearer's field of vision, layering information on top of the real world. Think directions, messages, or weather appearing in your line of sight without looking down at a phone. The lenses shift between clear and tinted depending on lighting. Specs go on sale this fall at $2,195 with a $200 refundable deposit.

CEO Evan Spiegel called Specs the computer of the future, arguing that nearly 20 years after the iPhone, people are ready to think about computing differently. Snap has not turned a profit since going public, and its first glasses launched at $130 in 2016 and never caught on. Several much larger technology companies are competing in the same space.

Anthropic disabled its two most powerful AI models following a US government order related to national security.

Anthropic abruptly shut off access to its two most powerful AI models late Friday. After the US government ordered the company to bar all foreign nationals from using them. The Commerce Department issued the directive, citing national security concerns about Fable 5 and Mythos 5, two systems Anthropic had publicly launched just three days earlier. Because cloud platforms cannot verify a user's nationality in real time, Anthropic said it had to pull the models for every customer worldwide, including US citizens, to comply. The company's other AI models remain available.

The shutdown is Anthropic's second major run-in with the federal government this year. The Department of Defense earlier labeled the company a national security risk, a designation that Anthropic is suing the White House to reverse. The timing is awkward: Anthropic confidentially filed paperwork to go public earlier this month.