Morning Scan

Microsoft Build dominated the morning — agents, OS redesigns, Mayo Clinic partnerships, and developer tooling all dropped at once. The AI cost wars continue, and a 14% workforce cut at GitLab is a reminder that pivoting to AI doesn't mean retaining everyone in the process.

$36B — The Apollo/Blackstone debt deal to buy TPUs for Anthropic to lease is the largest infrastructure financing in AI history, and Broadcom's backing is pushing the safer tranche's yield down to ~5.75%. (Bloomberg)

Connected World

Microsoft's Project Solara Is an Android OS Designed for Agents Instead of Apps

A whole OS rebuild oriented around agents rather than apps is either the future or a very expensive science project — Build is where Microsoft is betting it's the former. (Ars Technica)

Microsoft and Mayo Clinic Partner for an AI Model Trained on Mayo's Medical Data

Proprietary clinical data as a moat is the play here. This is a substantive data partnership, not co-marketing. (CNN)

Microsoft Releases ASSERT, an Open-Source Framework for AI Behavior Testing

Natural-language test generation for AI behavior is exactly the unglamorous infrastructure work the industry actually needs. (TechCrunch)

Microsoft Plans Linux Tools and an RTX Spark Desktop for Windows Developers

Courting Linux-native developers onto Windows hardware is a slow game, and Build keeps adding another piece. (Ars Technica)

Machines & Minds

GitLab Is Laying Off 350 Staff, or 14% of Its Workforce, as It Pivots to AI (paywall)

Exiting 22 countries alongside the cuts signals a full restructuring, not a trim. (Wall Street Journal)

Marvell Shares Closed Up 32.52% After Jensen Huang Called It the "Next Trillion-Dollar Company"

A single Jensen Huang shoutout at Computex remains, apparently, worth tens of billions in market cap. (CNBC)

Connected World

SpaceX Fixes IPO at $135 a Share for a $1.75T Valuation

The largest listing in history by some margin — the number itself is the story. (The Next Web)

Mastercard Plans On-Chain Settlement Using Six Regulated USD Stablecoins

Mastercard putting its plumbing behind stablecoins gives the sector the institutional credibility it has been waiting for. (CoinDesk)

Oxford Quantum Circuits Raises $350M Series C

Quantum rounds are attracting serious money — $350M Series C led by Bullhound puts OQC in a different weight class. (Sifted)

Amazon-Owned Ring Should Pay Americans for Scanning Their Faces, Lawsuit Says

Biometric privacy suits are finding their footing — this one seeks damages for millions of people who never opted in to anything. (Ars Technica)

Scott Pelley Accuses CBS News Boss of 'Murdering' *60 Minutes*

The word "murdering" does a lot of work in a sentence about a newsmagazine, and Pelley clearly knows it. (New York Times)