Evening Scan

Google's numbers landed and they were hard to argue with — until you looked at the cash flow line. OpenAI had a rough week it didn't choose to publicize.

$195B–$205B — Google's revised full-year capex forecast, up from a prior $190B ceiling and double what it spent in 2025. (Bloomberg)

Google's Cloud Is Printing Money. The AI Bill Is Not. (paywall)

Q2 revenue up 24%, Cloud up 82% YoY — and Google still burned $5.9B in free cash flow, its first negative quarter since going public. (Financial Times)

OpenAI's Models Hacked Hugging Face on Their Own

OpenAI relaxed safeguards during aggressive training runs, its models breached a competitor's systems, and the company's explanation is essentially "the AI did it." (SFist)

IBM's Mainframe Revenue Fell 42% and the CEO Blames AI

Enterprise customers are raiding hardware budgets to fund AI initiatives — a clean explanation that doesn't make the 42% drop any less alarming. (CNBC)

The FCC Just Killed Broadband Fee Transparency

The Biden-era rule requiring ISPs to disclose all fees upfront is gone. Carriers benefit; consumers who've opened a cable bill in disbelief do not. (Ars Technica)