AI disruption casts a shadow on Cannes Lions

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Tech Across the Globe

Trump delays TikTok ban: US President Donald Trump will sign an executive order extending the life of TikTok for another 90 days while his administration seeks a US buyer for the popular China-based video social network. It's the third time Trump has given a reprieve to the app, which is required by a law passed in 2024 to be shut down in the US or sold to an American buyer.

A new AI upstart: MiniMax, a Shanghai-based artificial intelligence company, released a new reasoning model rivaling DeepSeek, another emergent Chinese AI startup.

Cyberattack in Iran: A pro-Israel hacking group said it unleashed a cyberattack against a major Iranian bank as the military conflict between the countries continued. Bank Sepah experienced disruptions, although the full extent of the impact remained unclear.

Revalued

Applied Intuition — a startup developing technology for autonomous vehicles, drones and more — has raised $600 million in a deal that more than doubles its valuation to $15 billion. This is "probably the last round we'll raise before we go public," Chief Executive Officer Qasar Younis said in an interview.

Must Read

Advertisers and creators are soaking in the sun and partying as usual at the industry's annual Cannes Lions festival in France, but the threat that artificial intelligence may upend the business is close at hand, Benoit Berthelot reports from the event. While some have mentioned AI, it appears the industry isn't yet ready to deal head on with the potential disruption, he writes in today's Tech In Depth.

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This Week in Game On

IO Interactive, the maker of the Hitman franchise, went from a small studio in 2017 with three months to prove it could survive to its current position as one of the largest privately owned video-game companies in the world, Jason Schreier writes. He interviews CEO Hakan Abrak about that turnaround in this week's Game On.

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