Daily Recap: Tech — 17 July 2026

Tech’s day was defined by a power shift and an argument over who gets to shape AI’s future. Apple briefly edged past Nvidia to reclaim the title of world’s most valuable company, a symbolic reminder that investor enthusiasm around artificial intelligence is becoming more selective, even as AI spending keeps surging elsewhere. Databricks is poised to ride that wave at a reported $188 billion valuation, while China’s Moonshot unveiled Kimi K3, a massive open-weight model aimed squarely at narrowing the gap with top US systems. In Shanghai, Xi Jinping used a major AI forum to argue that no single country should dominate the technology, casting AI governance as a global issue amid intensifying US-China rivalry. That debate took on a darker edge in the Philippines, where officials demanded China Daily remove an AI-generated video depicting Filipinos as monkeys, calling it racist, dehumanizing, and beyond acceptable discourse.

Top Tech stories

• Apple overtakes Nvidia to reclaim world’s most valuable company title (26 sources)
• Xi urges international cooperation and warns against single-country AI dominance (16 sources)
• Philippines demands China Daily take down AI video portraying Filipinos as monkeys (11 sources)
• Databricks valued at $188 billion in Coatue-led strategic funding round (9 sources)
• Moonshot unveils Kimi K3, a 2.8-trillion-parameter open AI model (8 sources)
• Moonshot AI releases Kimi K3, a 2.8T-parameter open model for coding benchmarks (7 sources)
• Apple and DOJ in early settlement talks over iPhone antitrust lawsuit (7 sources)
• Anthropic in early talks with Meta to lease AI compute worth up to $10 billion (7 sources)

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