Crypto News: Teen social media bans are hard to do

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Tech Across the Globe

Activist at Snap: Irenic Capital, which has taken a stake in Snap, criticized co-founder and Chief Executive Officer Evan Spiegel for hiring too many people and failing to maximize Snapchat's position in the social media market.

Musk's Twitter setback: Twitter shareholders were given permission to sue Elon Musk as a class, delivering another legal blow to the billionaire over his purchase of the company in 2022.

Trump lifts markets: Samsung and SK Hynix drove an 8.4% jump in the Kospi in Seoul, as Asian markets surged following US President Donald Trump's comments about concluding American involvement in the Iran war this month.

Huawei's slowdown: The Chinese tech champion reported annual revenue rose 2.2% in 2025, compared with about 22% growth a year earlier, as its businesses were challenged by Apple's iPhone 17 and domestic AI chipmakers.

Revalued

OpenAI closed a $122 billion funding round that values the company at $852 billion. The bulk of the money, which will help pay for more chips, data centers and talent, came from Amazon, Nvidia and SoftBank. A big slice of Amazon's $50 billion investment is contingent on OpenAI going public or reaching the technological milestone of artificial general intelligence.

Must Read

The move to ban teens from social media has jumped from Australia to Europe, although French legislators are finding it's easier to say than do, Benoit Berthelot reports in today's Tech In Depth. The mix of potential approaches across the continent may force the European Commission to wade in with a unified proposal across the bloc, he writes.

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This Week in Power On

Apple is revamping its approach to artificial intelligence because the company knows its homegrown technology has lagged behind OpenAI, Google and others, Mark Gurman reports in this week's Power On. Now the iPhone maker is pursuing a two-pronged strategy: embedding enough AI into its operating systems to keep users happy while opening the Siri digital assistant and Apple Intelligence to third-party services such as ChatGPT, he writes.

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