Tuesday 14 July 2026
Top stories today:
OpenAI still targets 2027 device launch despite Apple lawsuit
DeepSeek founder becomes worldās richest AI model creator
Nous Research, Hermes agent maker, to raise $75M+ at $1.5B valuation
Trump admin to streamline U.S. open models to rival China
Apple stock +16% since Jun. 25, adding ~$650B in market value
0. Data & 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. OpenAI said to still target 2027 device launch despite Apple lawsuit
Its development is said to be at an advanced stage.
More challenging now will be quickly building out the project.
OpenAI has explored several device categories, including smart speakers and wearables, but ultimately aims to launch an iPhone competitor.
A non-smartphone device is likely to debut first.
OpenAI has hired 400+ former Apple workers, reportedly luring many with lucrative compensation packages.
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3. DeepSeek founder becomes worldās richest AI model creator, tops Amodei, Brockman
DeepSeek founder Liang Wenfeng is now worth $36B, up from ~$16.7B previously:
Liangās stake in DeepSeek is estimated to have been diluted to ~78% after its $7.4B round in Jun.
Liangās $36B fortune makes him Chinaās 8th-richest person, just behind Cambricon Technologiesā Chen Tianshi.
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5. Nous Research, maker of Hermes agent, said to raise $75M+ at $1.5B valuation
Robot Ventures is reportedly leading the round, with USV participating.
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7. Trump admin said to streamline U.S. open models to rival China
The Trump admin and industry groups have been discussing a capability framework for U.S. open-source models.
Equal or less capable U.S. models could be streamlined to market, per the proposal.
Clarifying guidance on the AI EO issued in Jun. is reportedly under consideration, rather than a new EO.
Relatedly, ā¤$6B/year is the unauthorized distillation cost for U.S. AI labs, per U.S. officials.
