June 16, 2026

TechCrunch Top 3

SpaceX valuation balloons to $2.6T, briefly passes Amazon: SpaceX's valuation has increased by $1 trillion since its shares started trading on Friday. Read More

Snap finally debuts its long-awaited AR glasses, Specs, and, oof, they aren't cheap: For over a decade now, Snap has been working on this device. Now the glasses are finally here. So what stands out on first impression? Read More

Android 17 launches with new multitasking tools as Google expands Gemini features: Google has released Android 17 and Wear OS 7, introducing new multitasking features, parental controls, security tools, and smartwatch upgrades. The launch is also accompanied by a Pixel Drop that brings Google’s latest AI models to its devices. Read More

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Afternoon Must-Reads

SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO: The deal is supposed to help SpaceX's struggling AI division. The company told IPO investors it sees a $26 trillion addressable market in AI. Read More

DOJ claims xAI’s unpermitted gas turbines are a matter of ‘national, economic, and energy security’: The Justice department says the Pentagon needs xAI to keep using its unpermitted gas turbines. Read More

Qualcomm wants to be the chip inside whatever replaces your smartphone, and it just announced two products toward that end: Qualcomm CEO Cristiano Amon said Tuesday that the company is working on over 40 different AI wearable devices — including jewelry, earbuds with cameras, pins, and watches — a sign of how aggressively the chipmaker is betting that the next major computing platform won't be a phone. Read More

Rivian cuts hundreds of workers after R2 deliveries start: The company said the cuts were part of a restructuring meant to help scale to profitability. Rivian recently pushed back its profitability goal to invest in autonomy. Read More

Robinhood's note on 10% layoffs shows blaming AI isn't cutting it: Unlike many of his tech industry peers who have cut thousands of jobs citing the need to restructure to make the most of AI, Robinhood's CEO Vlad Tenev conspicuously made no mention of AI in his note about layoffs. Read More

Last but Not Least

ChatGPT's market share slips below 50% for first time: The chatbot still remains the most popular AI assistant worldwide with over 1.1 billion monthly users, followed by Gemini with 662 million and Claude with 245 million. Read More