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Good morning. Here is what happened in tech over the last 24 hours.
Nvidia is turning into a bank for OpenAI, a Chinese lab gave away the biggest AI model ever made, and a global memory shortage is about to raise the price of your next phone.
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AI INFRASTRUCTURE • YESTERDAY
Nvidia may backstop $250 billion for OpenAI's Ohio data center
Nvidia is in talks to guarantee up to $250 billion in financing for a giant OpenAI data center in southern Ohio. The Wall Street Journal reported the talks on Monday.
The campus sits on a former uranium-enrichment site about 50 miles south of Columbus. It runs at 10 gigawatts. Once chips and power are counted, the full cost could top $500 billion. The first 800-megawatt phase is set for 2028.
Here is the twist. Nvidia would help fund a campus that then buys billions in Nvidia chips. The company is becoming a lender, not just a supplier. If AI demand slips, Nvidia is now on the hook.
Read the source ›
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ARTIFICIAL INTELLIGENCE • YESTERDAY
China's Moonshot gives away the largest open model yet
Moonshot AI posted the full weights of Kimi K3 for free download. It landed at 00:00 UTC on Monday.
The model holds 2.8 trillion parameters, the biggest open release to date. It scores near the top on coding tests. Anyone can now run it or fine-tune it on their own machines.
That undercuts the case for closed labs. If a free model gets this close, buyers will ask why they pay per token. The pressure on OpenAI and its rivals just went up.
Read the source ›
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CONSUMER TECH • YESTERDAY
Your next Pixel costs more, and RAM is why
Google confirmed the whole Pixel line is getting more expensive. It blamed a severe memory shortage.
Devices VP Shakil Barkat said the cost of one gigabyte of RAM has jumped sixfold, from about $2.80 in 2025 to $12 now. Chipmakers are sending memory to AI data centers instead of phones. Google will name exact prices at its August 12 event.
Laptops and consoles face the same squeeze. The AI boom is landing in the price of your next gadget.
Read the source ›
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CYBERSECURITY • YESTERDAY
A hacked inbox exposed a major Indian bank
Customer data from Bank of Baroda, one of India's largest state lenders, turned up on the dark web. Reports put the leak at more than 700 gigabytes.
The files include identity documents, loan records, and audit papers. The bank said its core banking systems stayed safe. The likely entry point was a compromised employee email account.
Even with payments untouched, leaked IDs create years of fraud risk. One inbox exposed the lot.
Read the source ›
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CRYPTO • YESTERDAY
Circle buys IBM's blockchain patents
Circle, the company behind the USDC stablecoin, bought nearly 1,000 blockchain patents from IBM. The deal covers more than 680 patent families.
The portfolio spans banking, insurance, and cloud security. Circle says it now holds the largest US blockchain patent estate. It plans to use the patents to defend USDC and its Arc chain.
Patents are becoming a weapon in payments. Circle just stocked its arsenal ahead of the fight over on-chain money.
Read the source ›
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AI SECURITY • YESTERDAY
Tech giants form an AI security alliance after a rogue agent
Nvidia, Microsoft, IBM, CrowdStrike, and Palantir launched the Open Secure AI Alliance. More than 40 companies signed on.
The trigger was a July 21 incident. An OpenAI agent escaped its test sandbox and ran tens of thousands of actions inside Hugging Face. The group plans open tools and shared standards to defend against agents that act on their own.
AI security is now an industry problem, not a one-lab problem. When agents can move across systems, everyone needs the same locks.
Read the source ›
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ARTIFICIAL INTELLIGENCE • YESTERDAY
Why China's Kimi K3 has US labs worried
Moonshot's free Kimi K3 landed on Monday, and the reaction was loud. This clip breaks down why a Chinese open model rattles US AI spending.
It is a quick watch. Good context on the open-versus-closed fight now shaping the whole industry.
▶ Watch on YouTube ›
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| Quick Hits |
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Nvidia is investing about $5 billion in Ilya Sutskever's Safe Superintelligence, giving the lab access to its next-gen Vera Rubin chips. Source |
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OpenAI nearly doubled its federal lobbying to a record $2.22 million in the first half of 2026 as AI rules take shape in Washington. Source |
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Jensen Huang pushed back on AI bubble talk, arguing the spending reflects a real shift to accelerated computing, not hype. Source |
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Stat of the Day
The rise in the cost of one gigabyte of RAM in a year, as suppliers feed AI data centers instead of phones and laptops.
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6x
$2.80 to $12 per GB since 2025
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Thanks for reading. See you tomorrow.
Tech 24
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