Techmeme
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Amazon says the FTC's complaint over Sponsored Ads cites no evidence of consumer price increases or advertiser harm, and misunderstands how advertisers operate (About Amazon)
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Sources: Polymarket will raise $1B led by 1789 Capital at a $21B post-money valuation; Donald Trump Jr. is a partner at 1789 and adviser to Polymarket (Amanda L. Gordon/Bloomberg)
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The FTC and 22 state AGs sue Amazon, alleging it overcharged advertisers over $20B since 2019 via hidden surcharges, with costs largely passed on to consumers (Annie Palmer/CNBC)
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On his last day as CEO, Tim Cook pens an emotional memo reflecting on his time at Apple and says he takes "enormous comfort" in handing the helm to John Ternus (Chance Miller/9to5Mac)
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FTC to File Lawsuit Alleging Amazon Deceived Advertisers (Dave Michaels/Wall Street Journal)
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Sony launches Live TV on PS5 in the US, letting users stream 100+ free, ad-supported TV channels with content from Amazon MGM Studios, Crunchyroll, and more (Kris Holt/Engadget)
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Trump says communities that reject data centers will end up "backwards and poor" and that "China could not be happier with this anti Data Center movement" (Cheyanne M. Daniels/Politico)
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Reframe, which uses AI and industrial robot arms to make modular homes in a factory, raised a $40M Series A extension round led by Energy Impact Partners (Rocket Drew/The Information)
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Sources: Hyperliquid is in talks to enter the US market through Kraken parent Payward, weeks after Trump said he was working to bring the platform onshore (Bloomberg)
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Gurman: Apple is moving App Store to services unit run by Eddy Cue, who previously oversaw it until 2015; Cue is taking on a more influential role under Ternus (Chance Miller/9to5Mac)
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The Trump administration launches Project Watershed 250, a six-month cybersecurity pilot to protect Texas water systems from cyberattacks (Fox News)
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Sources: Phil Schiller stepped down from his role leading the App Store and product events; he will remain at Apple to work on unspecified initiatives (Mark Gurman/Bloomberg)
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a16z says its fifth growth fund has closed additional capital, bringing its total to $8.5B (Andreessen Horowitz)
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The UK unveils a £100M Sovereign AI R&D Procurement Scheme for domestic AI startups focused on public services, amid growing opposition to Palantir contracts (Jim Pickard/Financial Times)
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MapQuest becomes the top free iPhone app on the App Store in Canada and fourth on the US App Store after refusing to change Lake Ontario to Lake America (Joe Rossignol/MacRumors)