Top stories today:

1. Samsung introduces Galaxy Ring, Watch Ultra, updates phones
2. HubSpot stock -12% after report Google shelved efforts to buy it
3. Global startup funding +12% YoY to $79B in Q2
4. CPI, core CPI expected at 0.1% MoM / 3.1% YoY, 0.2% / 3.4%
5. Vision Pro sales expected to be <500K for 2024

0. Data and calendar

1. Samsung introduces Galaxy Ring, Watch Ultra, updates phones

The Ring starts at $399 and is focused on health and sleep tracking

Read more: The Verge.

Other Samsung news

• Galaxy Watch Ultra ($649) introduced, in addition to Watch 7 ($299).

• Galaxy Z Flip 6 has battery, cover display, camera upgrades, starts at $1,099.

• Galaxy Z Fold 6 has wider displays, starts at $1,899.

• The new Galaxy Buds look exactly like the Apple AirPods.

• Gemini features are being introduced to Samsung devices.

2. HubSpot stock -12% after report Google shelved efforts to buy it

• “The sides didn’t reach a point of detailed discussions around due diligence.”

• The high odds of regulatory scrutiny that would come from such a deal was likely a contributing factor.

4. Global startup funding +12% YoY to $79B in Q2, as North America +35% to $45B

Early-stage funding saw the largest increase in North America

Deal volume has been trending down, suggesting $ per deal is growing quickly

U.S. creator startups raised $693M in Q2, +68% YoY

5. CPI, core CPI expected at 0.1% MoM / 3.1% YoY, 0.2% / 3.4%, out at 8:30 AM ET

It would be the 2nd consecutive period of monthly inflation in line with the Fed’s 2% annual goal:

6. Vision Pro sales expected to be <500K for 2024, start growing in Q3 2025: IDC

7. Biden’s odds of dropping out climbs to 61% after remarks from Clooney, Senate Dem

• George Clooney: “I love Joe Biden. But we need a new nominee.”

• Sen. Peter Welch (D-Vt.): Biden should withdraw.

• Schumer open to dumping Biden: sources.

8. Interesting videos, posts, and memes

9. Other headlines

AI

• Helsing raises €450M at €5B valuation for AI for defense.

• AMD to buy Finnish startup Silo AI for $665M.

• OpenAI partners with Los Alamos to test AI's use case for lab work.

Tech

• Starlink Mini now available to anyone in U.S.

• Apple aims to ship 10% more new iPhones (90M) in H2 2024.

• Intuit laying off 1,800 workers, 10% of total.

• Earned Wealth raises $200M for wealth management for doctors.

• iCloud Photos now makes it easier to switch from Google Photos.

• iPhone 17 Pro Max to be 1st to have 3 48MP camera lenses.

Tech & law

• Apple agrees with EU to allow rival payment tech for 10 years.

• FTC: 76% of subscription websites have “dark patterns.”

Biotech

• Flagship Pioneering raises $3.6B for 2 new funds.

• Bioptimus launches H-optimus-0, AI model for pathology.

• Once-weekly insulin from Novo denied approval by FDA.

• Longevity Summit Dublin: a summary.

• Anti-Alzheimer’s device may also be good for longevity.

Business

• Powell repeats he's not “sufficiently confident” about 2% inflation.

• Archegos’s Bill Hwang convicted of fraud, market manipulation.

• Alec Baldwin’s involuntary manslaughter trial starts.

Crypto

• Trump to speak at Bitcoin Conference on July 27.

• BitMEX pleads guilty to bank secrecy violation, sentencing TBD.

• Solana’s Firedancer client builds 1st block on testnet.

World

• NATO accuses China of supplying Russia with weapons.

• Modi’s visit to Russia during NATO summit irks U.S. officials.

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