Daily Strategic Briefing

China proves that open models are more effective than all the GPUs in the world

OpenAI delayed its promised open-weights model since GPT-2, leaving the Middle Kingdom clearly in the lead Comment  OpenAI was supposed to make good on its name and release its first open-weights model since GPT-2 this week.…

Ex-IDF cyber chief on Iran, Scattered Spider, and why social engineering worries him more than 0-days

Keep It Simple, Stupid Interview  Scattered Spider and Iranian government-backed cyber units have more in common than a recent uptick in hacking activity, according to Ariel Parnes, a former colonel in the Israeli Defense Forces' cyber unit 8200.…

Republican calls out Trump admin's decision to resume GPU sales to China

Moolenaar demands answers from Commerce Secretary The Republican chair of the US House Select Committee on China has protested the Trump administration's decision this week to lift restrictions on the sale of Nvidia H20 GPUs and similar processors, warning the chips could be used to advance Chinese AI and military interests.…

Meta declines to abide by voluntary EU AI safety guidelines

GPAI code asks for transparency, copyright, and safety pledges Two weeks before the EU AI Act takes effect, the European Commission issued voluntary guidelines for providers of general-purpose AI models. However, Meta refused to sign, arguing that the extra measures introduce "legal uncertainties" beyond the law's scope.…

Foundry competition heats up as Japan’s Rapidus says 2nm chip tech on track for 2027

That's just... checks notes... two years behind everyone else Japanese foundry upstart Rapidus says it's on track to begin volume production of 2nm process tech after achieving a major milestone this week.…

Windsurf CEO opens up about ‘very bleak’ mood before Cognition deal

Summary:

Days after AI coding startup Windsurf announced that it’s being acquired by Cognition, Windsurf exec Jeff Wang took to X to offer more details about the drama and uncertainty around the deal.

Benchmark in talks to lead Series A for Greptile, valuing AI-code reviewer at $180M, sources say

Summary:

YC alum Greptile raises $30M Series A.

Why a Y Combinator startup tackling AI agents for Windows gave up and pivoted

Summary:

Pig.dev was working on a problem that could have been revolutionary: agent tech for controlling Windows desktops.

ServiceNow’s acquisition of Moveworks is reportedly being reviewed over antitrust concerns

Summary:

The probe into the acquisition, which was announced in March, began in June according to sources familiar with the matter.

Cursor snaps up enterprise startup Koala in challenge to GitHub Copilot

Summary:

Cursor maker Anysphere is snapping up top talent from AI enterprise startups in an effort to compete with Microsoft’s GitHub Copilot.

Deeptech startup BQP bags $5M in seed round led by Monta Vista Capital

The deeptech startup will primarily utilise the funds to fuel the development of its unified digital‑twin platform, BQPhy, which targets critical sectors such as aerospace, defence, and semiconductors.

Sai Parenterals raises Rs 50 Cr in equity to expand global footprint

The company said the capital will be used to fuel its global expansion strategy, including acquisitions in regulated markets, enhancement of its manufacturing footprint, and diversification of its product portfolio.

AI analytics firm Fractal raises $172M ahead of IPO: Report

The transaction saw long‑time backer Apax Partners offload a 6% stake to a consortium of 22 institutional investors. Among the buyers were funds advised by Trust Investment Advisors, White Oak Capital Management, Gaja Capital and Neo Asset Management.

[Weekly funding roundup July 11-18] Startups see another quiet week as VC momentum eases

Venture capital funding into Indian startups has not seen any appreciable increase over the last three weeks, largely due to the absence of higher value deals.

Arteria secures Rs 100 Cr in Series B from ICICI Venture to expand supply chain SaaS platform

Founded in 2010, Arteria offers digital solutions for managing upstream and downstream enterprise supply chains, with embedded financing options aimed at improving capital flow for suppliers and distributors.

Tribunal Upholds ₹78 Cr Seizure in Chanda Kochhar Money Laundering Case

Tribunal upheld ED's ₹78-cr asset seizure of ex-ICICI Bank CEO Chanda Kochhar, citing a prima facie money laundering case. Kochhar allegedly received ₹64-cr quid pro quo from Videocon after ICICI approved ₹300-cr loan; tribunal rejected ignorance claims. Source: Hindustan Times

Tata Comm CEO Flags Revenue Risks Amid Geopolitical Tensions

Tata Communications CEO cites geopolitical conflicts, US tariffs as revenue risks. CEO Lakshminarayanan warns of potential slowdown in customer spending ahead. Source: Business Standard

MRPL Posts Declining Sales, Profits; Hits Record Debtors Turnover Ratio

MRPL reports June 2025 results showing declining net sales, PBT, and PAT. Despite challenges, MRPL achieved its highest Debtors Turnover Ratio recently. Source: Marketsmojo

Torrent Pharma Sales Jump to ₹11,516 Cr, PAT Soars 4x

Torrent Pharma's net sales grew from INR 7,673 Cr in 2019 to INR 11,516 Cr in 2025. PAT rose from INR 436 Cr to INR 1,911 Cr, with OPM improving from 26.6% to 32.9%. Source: Marketsmojo

Godawari Power Sales, Profit Dip Amid Rising Costs

Godawari Power's net sales peaked at ₹5,753.04 Cr in Mar'23 before declining to ₹5,375.73 Cr by Mar'25. Operating profit and PAT also dropped from their highs in Mar'22 due to rising costs. Source: Marketsmojo

Crypto currencies

Country: Crypto, Description: Bitcoin and Ether are on the rise. Ether is leading the charge with a 2.56% gain.

Agricultural Commodities Updates: Cocoa Spikes by 5.30%

Country: Commodity, Description: Top commodity gainers are Cocoa (5.30%), Wheat (2.53%) and Palm Oil (2.47%). Biggest losers are Coffee (-2.40%), Rice (-1.20%) and Rapeseed (-1.19%).

Metals Commodities Updates: Lithium Carbonate Rises by 2.62%

Country: Commodity, Description: Top commodity gainers are Lithium Carbonate (2.62%), Copper (1.42%), Steel Rebar (0.84%) and Gold (0.32%). Biggest losers are Platinum (-2.36%) and Iron Ore CNY (-1.57%).

Energy Commodities Updates: Natural Gas EU Dutch TTF Drops by 2.31%

Country: Commodity, Description: Top commodity losers are Natural Gas EU Dutch TTF (-2.31%), Germany Natural Gas THE (-2.24%), Natural Gas UK GBP (-2.11%), Brent Crude Oil (-0.48%) and Crude Oil WTI (-0.29%). Gains are led by Ethanol (0.98%), Propane (0.88%) and Natural gas (0.73%).

FX Updates: Norwegian Krone Increases by 1.18%

Country: Currency, Description: Top currency gainers are Norwegian Krone (1.18%), Swedish Krona (0.77%), Polish Zloty (0.33%) and Euro (0.05%). Biggest losers are Turkish Lira (-0.83%), Brazilian Real (-0.58%), Dollar Index (-0.28%), Japanese Yen (-0.23%) and British Pound (-0.20%).

Japan's Prime Minister Ishiba faces crucial election that could end tenure

Summary: Polls suggest his ruling coalition may fall short of the 50-seat threshold needed to maintain control of the upper house., Description: Japanese voters headed to the polls Sunday in a pivotal upper house election that could end Prime Minister Shigeru Ishiba's tenure and reshape the country's political landscape. Voting began at 7 a.m. across about 45,000 polling stations nationwide, with results expected late Sunday night after polls close at 8 p.m. The election poses an existential test for Ishiba's ruling coalition, which...

Texas cuts missing count from 97 to 3 after flood search

Summary: Officials said extensive follow-up work verified many people initially reported missing in the Kerr County disaster were actually safe., Description: Texas officials have revised the number of people missing following catastrophic flooding in Kerr County from 97 to just three, marking a dramatic reduction as extensive search and recovery operations continue more than two weeks after the disaster. The revision came after what officials described as "extensive follow-up work among state and local agencies" to verify that many individuals...

Ukraine proposes new peace talks with Russia next week

Summary: Zelensky's offer comes hours after Russia launched one of its largest aerial attacks in recent months with 300 drones and 30 missiles., Description: Ukrainian President Volodymyr Zelensky announced Saturday evening that Ukraine has extended an offer to Russia for a new round of peace negotiations next week, as Kyiv seeks to accelerate diplomatic efforts to end the nearly three-and-a-half-year conflict. The proposal comes hours after Russia launched one of its largest aerial attacks in recent months, firing approximately 300 drones and 30...

Tourist boat capsizes in Vietnam's Ha Long Bay, killing 34

Summary: A sudden thunderstorm overturned the Wonder Sea vessel carrying 53 people, with eight still missing as rescue operations continue., Description: A tourist boat carrying 53 people capsized during a sudden thunderstorm in Vietnam's Ha Long Bay on Saturday afternoon, killing at least 34 people and leaving eight others missing, according to state media reports. The Wonder Sea vessel was ferrying 48 passengers and five crew members, all Vietnamese nationals, on a sightseeing excursion when strong winds overturned the boat. Vietnamese border...

South Korea's ex-president Yoon faces new charges in martial law case

Summary: Prosecutors accused the detained ex-president of bypassing cabinet procedures and fabricating documents during his December power grab attempt., Description: South Korea's ousted President Yoon Suk Yeol was indicted Saturday on additional criminal charges tied to his failed martial law attempt, deepening legal troubles for the conservative leader who remains detained amid an ongoing investigation into his December power grab. Special prosecutors led by independent counsel Cho Eun-suk filed the fresh charges against Yoon, including abuse of power and...