Top stories today:

1. Apple names Ternus CEO from Sep. 1 as Cook becomes chairman
2. Moonshot’s Kimi K2.6 debuts as new top open-weight AI model
3. Google forms strike team to boost coding AI as Brin pushes agent pivot
4. Amazon to invest up to $25B more in Anthropic
5. Project Prometheus, Jeff Bezos’ AI lab, nears $10B raise at $38B
6. Kevin Warsh faces 10 AM ET Senate hearing to chair Fed amid scrutiny

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Apple names John Ternus CEO from Sep. 1 as Tim Cook becomes chairman

• Ternus, SVP of hardware engineering, will join Apple’s board when he becomes CEO.

• 2011: Cook succeeded Steve Jobs shortly before Jobs’ death.

• Cook “will assist with certain aspects of the company, including engaging with policymakers around the world,” Apple said.

• Ternus will become Apple’s 8th CEO.

• Johny Srouji will become chief hardware officer, succeeding Ternus.

• Apple will reorganize its combined hardware division into five key areas to simplify structure and expand oversight across major products.

• Apple’s market cap rose 20x+ under Cook.

• Shares closed +1% on Mon.

3. Moonshot’s Kimi K2.6 debuts as top open-weight AI model, rivaling Opus 4.7, GPT-5.4

Kimi K2.6 has topped open-weight models on Artificial Analysis:

• It brings significant improvements in long-horizon coding vs. Kimi K2.5, Moonshot AI said.

• Kimi K2.6 costs $0.95/$4 per million input/output tokens vs. Opus 4.7’s $5/$25, GPT-5.4’s $2.5/$15 and GLM-5.1’s $1.4/$4.4.

• Licensed under a modified MIT license.

• Available via Kimi.com, the Kimi app, API and Kimi Code.

Kimi K2.6 scored 6 on the AA Omniscience Index, indicating a low hallucination rate

5. Google said to form strike team to boost coding AI as Sergey Brin pushes agent pivot