Good morning. It's Tuesday, June 9, and we're covering Apple's vision for AI-powered personal computing, the soaring cost of AI infrastructure, and how intelligent apps could reshape everyday digital experiences.

Plus: a new poll asking who should hold the most power over the future of AI.

OpenAI confidentially submitted its IPO S-1 to the SEC Monday at a last private valuation of $852B, arriving roughly a week behind Anthropic and weeks behind SpaceX in what is becoming a three-way race for increasingly scarce AI capital. The order matters: Anthropic's filing disclosures will set a valuation comp that constrains OpenAI's offering, and on Forge Global's secondary market Anthropic has now passed OpenAI ($1T versus ~$880B), with Anthropic up 123% YTD against OpenAI's 11.3% as a recent PitchBook report flagged OpenAI as overvalued relative to fundamentals.

Apple's biggest AI shift may be letting apps act across your personal data instead of adding another chatbot. At WWDC 2026, the company unveiled Apple Intelligence features including cross-app context, AI-built Shortcuts, one-tap password updates, and smarter Safari and Photos tools. New capabilities can surface flight details during calls, generate workflows from text, and edit images with on-device models.

Apple is removing one of its most technical iPhone features' biggest barriers by letting users describe automations in natural language. The updated Shortcuts app uses Apple Intelligence to build workflows automatically instead of requiring manual setup. Apple demonstrated a shortcut that sends a user's ETA when they leave home, calculating and sharing the time without additional configuration.

The hottest idea in AI coding may be less about smarter models than software that manages them automatically. Developers including Peter Steinberger and Boris Cherny argue engineers should build "loops" that prompt, verify, and coordinate coding agents instead of issuing one-off commands. The concept builds on years of agent research, but rising AI costs and runaway automation risks are making feedback systems and spending limits as important as the models themselves.

Perplexity Computer aims to replace DIY AI agents like OpenClaw with a hosted platform featuring built-in connectors, automation, and coding tools.

Trump says the US government may take equity stakes in OpenAI, Anthropic, and xAI. Bernie Sanders wants the public to own half.

Sharing what everyone said tomorrow.

At its WWDC26 keynote in Cupertino, Apple introduced the next generation of Apple Intelligence, led by Siri AI, a rebuilt assistant that can understand personal context, act across apps, answer questions about on-screen content, and pull in up-to-date information from the web. The company also expanded parental controls with stricter contact approvals, smarter Screen Time tools, and new child account protections, while rolling out performance and design upgrades across iOS 27, iPadOS 27, macOS 27, watchOS 27, visionOS 27, and tvOS 27.

Apple said everyday tasks will feel noticeably faster, citing app launches up to 30% quicker, photo processing up to 70% faster, and AirDrop transfers up to 80% faster. The announcements underscore Apple's push to weave AI and privacy-focused automation more deeply into its ecosystem while making family safety and cross-device experiences bigger selling points. → Read the full article here.

Developers behind OpenAI and Oracle's Stargate data center in Abilene, Texas, are facing higher-than-expected costs and technical challenges as they scale one of the world's largest AI computing hubs. Crusoe, the infrastructure company building the site, has grappled with issues ranging from gas turbine and cooling system failures to new grid stability requirements, while its CEO recently estimated a 1-gigawatt data center shell now costs about $19.2 billion before roughly $40 billion in chips and servers.

Labor shortages, soaring equipment prices, and stricter power grid rules are adding to the bill, with industry data suggesting many planned AI data centers are already behind schedule. → Read the full article here. (Paywall)

Estonian startup Starship Technologies says its autonomous delivery robots are now approaching a key milestone: delivering groceries and takeout for less than the cost of a human courier. After 12 years of development, the company has grown its fleet from 127 robots in 2018 to more than 2,400 in 2025, while sharply reducing the need for human intervention and targeting delivery costs below £1 per trip.

Operating at walking speed, the six-wheeled robots face fewer safety hurdles than self-driving cars, allowing the company to focus on improving reliability, battery charging, and autonomous navigation. If the economics continue to improve, robot couriers could become a common sight in cities, reshaping last-mile delivery and putting fresh pressure on gig-economy jobs. → Read the full article here. (Paywall)

Apple Adds AI Photo Editing: iOS 27 Photos gets stronger Cleanup, plus Extend and Spatial Reframe to remove objects and recompose shots with AI.

Huang Skips China Chip Hearing: Huang declined Warren's invite to testify on NVIDIA’s China business, offering instead to host her at HQ.

Anthropic's Mythos Speeds Exploits: AI turned known Windows and Firefox flaws into working exploits in hours, cutting defenders' patching window.

Meta AI Bug Hijacked Instagram Accounts: A flaw in Meta's AI support bot likely let hackers take over 20,225 Instagram accounts via password resets.

S&P 500 Rejects SpaceX Fast Track: S&P kept its rules, blocking faster index entry for SpaceX and likely future IPOs from OpenAI and Anthropic.

Thanks for reading. See you next time!

— Matthew Berman, Nick Wentz & the Forward Future Team