IBM shares plunged over 25% on July 14, marking the company’s worst single-day decline since its founding in 1911. The crash was triggered by a pessimistic earnings preannouncement exposing the struggles of legacy tech giants in the AI era.
Core Summary Tech giant IBM saw its stock plunge over 25% in a single session after issuing a second-quarter earnings warning. The company cautioned that massive corporate investment in artificial intelligence is crowding out budgets for traditional software and services, pressuring core business revenue. The announcement triggered a broad selloff in the technology sector. Details In its after-hours earnings warning, IBM stated that despite strong AI-related demand, customers are reallocating IT budgets as they accelerate AI deployments, cutting spending on traditional software licenses and consulting services. The company now expects Q2 revenue to fall below prior analyst expectations. ...
Core Summary New York Governor Kathy Hochul has signed an executive order pausing the construction of new hyperscale data centers for up to 12 months, making New York the first US state to impose such a moratorium. The move aims to assess the impact of large data centers on energy supply, the environment, and local communities, sparking intense debate between the tech industry and environmental advocates. Details Under the executive order, New York State will halt approvals for new hyperscale data center projects for up to 12 months. Expansions of existing facilities may also be affected. The decision directly responds to surging electricity demand from the rapid proliferation of data center projects in upstate New York. ...
Core Summary U.S. Bitcoin miner TeraWulf has announced a $19 billion AI data center hosting agreement with Anthropic. TeraWulf’s CEO stated that “not all megawatts are created equally” in the AI race. The deal highlights the explosive growth in AI infrastructure and the industry trend of traditional crypto mining companies transforming into AI compute providers. Event Details According to CoinDesk, TeraWulf announced a $19 billion AI hosting agreement with Anthropic to provide large-scale data center infrastructure services. The deal marks TeraWulf’s formal transition from a Bitcoin mining-focused company to an artificial intelligence infrastructure provider. ...
Core Summary The Ethereum Foundation used coordinated AI agents to conduct security testing on validator node software, successfully discovering a remotely triggerable crash vulnerability. The bug could cause validator nodes to go offline, affecting network stability. However, some AI-generated findings were false positives, ultimately requiring manual verification by human security researchers. This event demonstrates both the potential and limitations of AI in blockchain security. Event Details According to CoinDesk reports, the Ethereum Foundation launched an experimental project, directing multiple coordinated AI agents at the software code running validator nodes. These AI agents identified multiple potential issues in the code, including a remotely triggerable crash vulnerability that could indeed cause validator nodes to go offline. ...
Core Summary Meta released an AI feature this week that allowed users to alter Instagram content, but quickly withdrew it after facing intense user backlash within just days. This incident highlights the ethical boundaries of AI technology in social media applications and users’ deep concerns about privacy and content authenticity. Event Details According to BBC reports, the AI feature Meta released this week allowed users to edit and modify images on Instagram. However, the feature immediately sparked widespread user backlash upon launch. Many users worried that this technology could be used to create misinformation, manipulate others’ photos, or exacerbate the “perfect image” anxiety already prevalent on social media. ...
OpenAI Chief Operating Officer Fidji Simo announced she will step down from her current role and transition to a part-time advisor position, a personnel change that has sparked widespread attention to the company’s strategic direction.
South Korean chip giant SK Hynix announced a US listing on NASDAQ, planning to raise $26.5 billion, setting a record as the largest initial public offering by a foreign company in US history.
OpenAI officially releases the GPT-5.6 model family, with the new models achieving a 54% improvement in token processing efficiency, marking a new cycle of performance optimization for large language models.
Core Summary Singapore’s sovereign wealth fund Temasek has officially announced its exit from cryptocurrency investments, shifting strategic focus to artificial intelligence. The mega-fund managing $400 billion in assets plans to expand its AI-related investment share from the current 6% to 15% by 2031, demonstrating strong confidence from traditional capital giants in the AI sector. Event Overview According to CoinDesk, Temasek’s move reflects differing judgments by global large institutional investors toward crypto and AI. Despite the crypto market’s significant recovery in 2024-2025, Temasek believes AI technology offers more certain long-term investment value. ...