News Digest — 2026-07-11

Top Stories

SK Hynix raises $26.5B in the biggest foreign IPO in US history, is urged to build new US fabs

TechCrunch AI · 2026-07-10

SK Hynix completed its $26.5 billion U.S. IPO, the largest foreign debut in U.S. history, surpassing Alibaba's 2014 offering. The stock performed strongly, opening 14% above its IPO price, despite a valuation premium over its Seoul market average, indicating strong investor demand. The company is now urged to expand its U.S. manufacturing footprint amid growing demand for AI chips.

Open source AI matters more than ever, according to Hugging Face’s Clem Delangue

TechCrunch AI · 2026-07-10

Hugging Face CEO Clem Delangue emphasizes the growing importance of open-source AI, noting its widespread adoption across the Fortune 500 and the shift of companies from closed to open models due to cost. He highlights concerns about concentrated control in AI development, particularly with Chinese labs dominating model downloads, and advocates for open, transparent AI in robotics due to its intimate role in daily life.

Meta removes controversial AI feature on Instagram after backlash

TechCrunch AI · 2026-07-10

Meta has removed an AI feature on Instagram that allowed users to modify photos from public accounts by referencing them, following widespread backlash. The feature, part of Muse Image, was criticized for potential misuse and lack of user consent, prompting Meta to retract it. The company stated it aimed to provide creative tools but acknowledged the feature failed to meet user expectations.

Would you host part of an AI data center in your home?

The Verge AI · 2026-07-10

Sunrun is piloting a distributed AI compute program that places small compute nodes in homes with solar and battery storage systems, offering customers compensation to participate. The initiative aims to address public opposition to traditional data centers by decentralizing AI computing power across residential properties. The program is still in its early stages and its effectiveness remains unproven.

Meta turns off the Instagram feature that let users make AI deepfakes of public accounts

The Verge AI · 2026-07-10

Meta has disabled a feature that allowed users to generate AI images using content from public Instagram accounts by tagging them, following widespread criticism over privacy and safety concerns. The feature, which enabled AI deepfakes without consent, was deemed problematic for violating user rights and potentially enabling sextortion and scams. Meta stated it was removing the feature after receiving feedback that it failed to meet user expectations.

Technology

Apple sues OpenAI over alleged trade secret theft

TechCrunch AI · 2026-07-10

Apple has sued OpenAI, alleging that senior executive Tang Tan misused Apple's trade secrets during his transition from Apple to OpenAI, including using confidential code names and soliciting information about Apple's unannounced products. The lawsuit comes amid speculation that OpenAI is developing its first hardware product, potentially threatening Apple's smartphone market. Tan, who previously led iPhone and Apple Watch design, is accused of coaching former Apple employees to bypass security protocols.

Apple sues OpenAI for allegedly stealing hardware secrets

The Verge AI · 2026-07-10

Apple has filed a lawsuit against OpenAI, alleging that former Apple employees stole trade secrets related to hardware technologies to benefit OpenAI's development plans. The lawsuit also names IO Products, which OpenAI acquired in 2025, and two specific employees who formerly worked at Apple. OpenAI has denied the claims and stated it has no interest in stealing trade secrets.

Instagram’s Adam Mosseri: If you don’t like AI, ‘then you shouldn’t have it in your feed’

The Verge AI · 2026-07-10

Instagram's Adam Mosseri stated that AI-generated content should not be filtered out entirely, but users who dislike it should not have it in their feeds. He emphasized transparency by labeling AI content and allowing users to ask whether a post is AI-generated, while acknowledging the technical challenges in detection. The platform will continue to label AI content but will not offer a filter option for users to exclude it.