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Top stories today:
- Apple updates OS at WWDC with Liquid Glass, as its AI continues to lag
- OpenAI hits $10B in annualized revenue, fueled by ChatGPT growth
- SEC plans crypto exemption to support Trumpās vision
- Chinaās exports to U.S. -35% YoY in May, biggest drop since Feb. 2020
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Apple updates OS at WWDC with Liquid Glass, as its AI continues to lag
An updated lockscreen on iOS 26.
Live Translation is integrated into Messages, FaceTime, and Phone.
Visual Intelligence is also available on the iPhone screen.
Updated Apple Music, Maps, and Wallet apps.
GenAI-powered Siri āneeded more time to reach our high-quality bar,ā Apple Software Engineering SVP Craig Federighi said.
Foundational Models framework to let developers have direct access to Appleās on-device AI models.
Xcode 26 has included ChatGPT for an upgraded coding experience.
macOS Tahoe has brought a Phone app and new color options for folders, app icons, and widgets
Spotlight now lets users take quick actions in apps and even access clipboard history.
macOS Tahoe will be the last macOS release for Intel Macs.
iPadOS 26 has enhanced multitasking on the iPad with a new windowing system and Mac-like Preview app
watchOS 26 now offers an enhanced fitness experience with Workout Buddy
visionOS 26 has brought spatial widgets, all-new Personas, and AI-powered Spatial scenes
Developer betas of the new updates are out now, while public betas will arrive in Jul., with full releases this fall.
Apple stock was -1% following the WWDC keynote.
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3. OpenAI hits $10B in annualized revenue, fueled by ChatGPT growth
Includes sales from ChatGPT and OpenAIās API but excludes licensing revenue from Microsoft and large 1-time deals.
Lost ~$5B last year.
2029: OpenAI has targeted $125B in revenue.
