AI News for June 29, 2026 — 7min.ai

[NEWS] South Korea unveils $590B chip investment to defend AI lead: Samsung and SK Hynix, backed by President Lee Jae Myung's government, committed roughly $590 billion to expand chip production, with 800 trillion won going toward four new factories in the country's southwest, 81 trillion won to a packaging center, and 30 trillion won over 15 years to next-generation chips.
[NEWS] BIS warns AI bust could trigger a faster crash than a banking crisis: The Bank for International Settlements warned that an AI downturn could develop into a sharper, faster crash than a traditional banking crisis, because funding for AI increasingly flows through loosely regulated, non-bank channels like hedge funds and private credit.
[NEWS] Google caps Meta's use of its Gemini AI models: Google placed limits on Meta's use of its Gemini AI models because it could not provide as much computing capacity as the social-media company wanted, according to the Financial Times.
[RESEARCH] Researchers say China's GLM-5.2 matches Mythos on cybersecurity: Zhipu AI's open-weight GLM-5.2 matches Anthropic's Mythos in certain bug-finding and cybersecurity scenarios, some researchers claim, dramatically narrowing the capability gap between Chinese and US models.
[RESEARCH] AI agents go broke running a startup in Princeton's CEO-Bench: Princeton researchers built CEO-Bench, a test where AI agents run a fictional software company for 500 simulated days, and only three models finished above their starting capital.
[NEWS] Micron briefly tops Meta and Tesla as memory stocks rocket: Micron's stock soared more than 236% in a single month, closing Friday near $1,132 a share and briefly surpassing the market valuations of Meta and Tesla for the first time, on the back of the AI-driven memory shortage.
[NEWS] Austria lobbies EU to host Anthropic after US access curbs: Austria is pushing the European Union to consider hosting Anthropic within its borders, countering US efforts to block foreigners from using the lab's most advanced AI models.
[NEWS] Coinbase switches to cheap Chinese AI models, halving its bill: Coinbase moved its workloads to Chinese models like GLM 5.2 and Kimi 2.7, CEO Brian Armstrong said, using more tokens than ever while paying roughly half what it used to.
[NEWS] HP launches Frontier strategic partnership with OpenAI: HP Inc.
[NEWS] Firmus to build Indonesia data center with Nvidia, $30B in deals: Australian AI infrastructure firm Firmus Technologies will build its first Indonesia data center as part of a partnership with Nvidia, which it expects to win as much as $30 billion in committed offtake agreements over the project's first six years.

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