The US OCC denies Wise's application to create a national trust bank, citing incompatibility with new Federal Reserve policies; Wise says it plans to reapply (Simone Lobo/Reuters)

Sources: OpenAI told Hugging Face only this week its models caused the July 11 hack; the models appear to have been active online for days before being stopped (Wall Street Journal)

Amazon tells third-party sellers to label product ads with AI-generated people to comply with a NY law requiring the disclosure of "synthetic performers" in ads (Annie Palmer/CNBC)

Google says it has $811B in contracted future spending commitments as of June, up ~$500B from March, covering chips, data centers, electricity, and more (Davey Alba/Bloomberg)

The Pentagon signs an up-to-10-year contract with Oracle worth up to $7B to consolidate department's on-premises software licenses into a single contract (Mike Stone/Reuters)

Tesla stock closed down 14.52% and Alphabet closed down 6.89% after they signaled increased AI spending, amid worries about the mounting costs of the AI boom (Arjun Kharpal/CNBC)

Germany's Black Forest Labs launches Flux 3 and Flux-mimic, its first models for robotics, as it expands from generative AI into physical AI (Yazhou Sun/Bloomberg)