Weekly news roundup: SpaceX acquires Cursor; Anthropic met with U.S. government; social media bans

Anthropic meets with Trump administration

This week, Anthropic executives are reportedly set to meet with senior government officials to resolve an escalating dispute over government restrictions on the company's most advanced AI models.

According to a statement released last week by Anthropic, the U.S. government "has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States." In the statement, Anthropic cited its strong safeguarding and testing, but wrote that it agreed to suspend access to Fable 5 and Mythos 5 for all users.

The outcome of Anthropic's meeting with the Trump administration could have implications far beyond the company itself, potentially reshaping how AI firms release advanced models and defining the federal government's role in overseeing frontier AI.

SpaceX gets Cursor as value shoots up

In its first big move since its record-breaking IPO, SpaceX is acquiring AI coding company Cursor in a $60 billion straight stock deal.

The move comes in a week when SpaceX stock value climbed to stratospheric levels. On Monday, the company's stock value had climbed 20% from its IPO last week, allowing it to pass Amazon to become the world's fifth-most-valuable company. Following the news of the Cursor acquisition SpaceX hit $2.9 trillion, before coming down to about $2.5 trillion by Thursday.

The Cursor deal was made to help SpaceX's AI unit catch up with the major AI firms.

Apple to introduce AirPods with cameras

Apple plans to equip AirPods with cameras by late 2027, according to sources. Rather than taking pictures, the AirPod cameras are expected to supply Siri with visual information about a user's surroundings, enabling Siri to answer questions about the surroundings.

This is Apple's first foray into the wearable technology sector, and the company is also expected to launch a next-generation foldable phone and a 20^th anniversary edition of the iPhone.

UK and UAE unveil social media ban for children

On June 15, the UK government unveiled plans to ban social media access for users under the age of 16.

The UK follows in the path of Australia, who implemented similar measures last year.

The proposal would require social media platforms to implement age verification measures to prevent under-16s from accessing certain services altogether, including some streaming services. The proposal indicates concerns around the impact of social media on children's mental health, online safety, technology addiction and exposure to content.

The United Arab Emirates also set a minimum age requirement for social media use at 15 years of age. This is the first such restriction from an Arab country.

Approved on Thursday, the resolution prohibits children under 15 from creating, using or operating social media accounts. This means that they will not be able to post content, comment, share or join public social media groups, said the UAE government media office.

More tech layoffs

On Tuesday, digital trading platform Robinhood said it was laying off 10% of its full-time staff, approximately 290 employees. A small number of open roles have also been closed down, the company said.

In a message to employees, Robinhood CEO Vlad Tenev said, "Robinhood's business has never been stronger."

The layoffs are reported to be carried out for cost-cutting and restructuring purposes.

Global asset management firm BlackRock is also reducing its workforce by 1%, or about 200 employees. The layoffs cut across a variety of company divisions, including credit and finance, investment, operations and technology, according to sources.

The layoffs indicate that technology, finance and other industries are continuing to work out how to streamline operations amid AI integrations.

Executive moves

• Nadia Carlsten. The former sustainable footwear firm Allbirds completed its pivot to becoming an AI infrastructure company, officially rebranding as Smartbird and naming Nadia Carlsten as CEO on Wednesday, June 17.
• Dan Durn & Steven Day. Chipmaker Marvell Technology appointed former Adobe CFO Dan Durn as its new CFO, replacing Willem Meintjes, who resigned on June 15. Adobe replaced Durn with Steven Day as interim CFO on June 15. Day previously served as Adobe's senior vice president of corporate finance.

IPO watch

The U.S. IPO market remains a key indicator of broader tech sentiment. Here's a look at the latest listings and activity from the past week, based on data from the Nasdaq IPO calendar:

Yorkville International Capital Corp.

• A blank check company.
• Expected opening/trading day: June 16.
• IPO price: $10/share.

Texas Ventures Acquisition IV Corp.

• A blank check company.
• Expected opening/trading day: June 18.
• IPO price: $10/share.

Kardigan Inc.

• A clinical-stage biotechnology company.
• Expected opening/trading day: June 18.
• IPO price: $14-16/share.

First Carolina Financial Services Inc.

• A bank holding company.
• Expected opening/trading day: June 18.
• IPO price: $14-16/share.

Rosa Heaton is a content manager and writer for the IT Strategy team at TechTarget.