Monday 13 July 2026
Top stories today:
Apple sues OpenAI over alleged trade secret theft
Anthropic extends Fable 5 access, higher Claude Code limits
SK Hynix plunges record 15% after strong U.S. debut
Meta kills Instagram-based AI image feature after backlash
U.S. two-year yield hits 4.24%, highest since 2025, as oil jumps
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Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Apple sues OpenAI over alleged trade secret theft, threatening hardware ambitions
Apple claimed OpenAI hired 400+ ex-Apple employees, including an iPhone engineer who allegedly downloaded confidential hardware files.
OpenAI hardware chief Tang Tan directed Apple staffers interviewing at the company to share Apple secrets, Apple alleged.
A former Apple engineer kept a work-issued laptop and exploited a bug to access Appleās cloud storage while at OpenAI, Apple claimed.
OpenAI leadership ānormalizedā misconduct, and its hardware business is ārotten to its core by its illegal relianceā on stolen trade secrets, Apple said.
OpenAI said it has āno interest in other companiesā trade secrets.ā
Tanās strained relationship with former boss John Ternus was highlighted in the lawsuit.
Separately, Greg Brockman will continue overseeing OpenAIās products, with the company not planning to replace Fidji Simo.
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3. Anthropic extends Fable 5 access, higher Claude Code limits through Jul. 19
The extension may be a goodwill move after Fable 5ās rocky rollout, including a 19-day government suspension.
Fable 5 can use up to 50% of weekly limits before requiring usage credits or a model switch.
Separately, OpenAI, Meta, and SpaceXAI could pressure Anthropic on cost as businesses scrutinize AI spending.
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5. SK Hynix plunges record 15% after strong U.S. debut as Korea AI rally falters
Traders cited weaker earnings fears and a rotation into SK Hynixās newly listed U.S. ADRs.
SK Hynix closed +13% at $168.01 in its first day of Nasdaq trading on Fri.
The memory industry is heading for its worst-ever supply shortage in 2027, SK Hynix CEO Kwak Noh-Jung said.
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