Apple’s AI Pivot, Warner’s Breakup & Trump’s Baby Bonds

10th June 2025

 From Apple’s long-awaited AI strategy reveal to Warner Bros Discovery's decision to split its business in two, today’s headlines serve big shifts in tech, media, and politics. Disney finalizes full control of Hulu, Trump pushes child investment accounts. All this and more in today’s read-and-eat.

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Major Headline

• Apple opens up its AI core to developers, rolls out OS redesign with “liquid glass” look

  
  

• At WWDC, Apple said it would open the foundational model behind its new “Apple Intelligence” features to third-party developers — a notable shift in its usually closed ecosystem. Software chief Craig Federighi said Apple needed more time to meet its “high quality bar” on some features, including a revamped Siri. The iPhone maker also introduced live call translation (no iPhone needed on the other end), call screening via AI, and an upgraded Visual Intelligence app that helps users find products similar to those on their screen. Apple also unveiled a full redesign of its OS interfaces across devices, leaning into a semi-transparent “liquid glass” aesthetic. From now on, Apple will name OS versions by year instead of number to unify its ecosystem. Despite the upgrades, investors seemed underwhelmed — shares dipped 1.5%. Reuters

  
  

• WBD splits in two: streaming and studios break free from cable in bold media shake-up

  
  

• Warner Bros Discovery will split into two public companies, separating its high-growth streaming and studios business (including HBO, Warner Bros, and DC Studios) from its legacy cable networks (like CNN and TNT Sports), which have been dragging on growth. The move unwinds its 2022 mega-merger and is aimed at sharpening focus as streaming competition intensifies. CEO David Zaslav will lead the new content-focused unit, while CFO Gunnar Wiedenfels will head the cable division. The networks arm will carry most of WBD’s $38B debt and retain up to 20% of the streaming unit. WBD secured a $17.5B bridge loan to fund the restructure, which is expected to close by mid-2026. Shares rose 7% on the news, but the stock is still down nearly 60% since the merger. Analysts say this may spark a new wave of un-conglomerating across legacy media. Reuters

  
  

• Trump pitches $1,000 ‘baby investment accounts’ as part of GOP tax plan

  
  

• Donald Trump is pushing for a new provision in the GOP’s proposed tax bill that would create $1,000 investment accounts for every American baby born during his current term — a nod to his COVID-era signature-on-stimulus-checks play. The funds would be placed into stock-tied mutual or index funds, with optional contributions from family, churches, or nonprofits (up to $5,000 annually). The accounts would unlock at age 18 for education or home buying, or fully at 30. Trump says it’ll give kids a “big jump on life” if markets perform well. The House narrowly passed the bill; its fate now rests with the Senate. Bloomberg

  
  

• Disney to pay Comcast $438.7 million to take full control of Hulu, ending lengthy valuation process

  
  

• Disney is now the sole owner of Hulu after paying Comcast an additional $438.7M to finalize the deal, capping off a process that began in 2019 when Disney acquired 21st Century Fox’s entertainment assets. The purchase clears the path for a tighter integration between Hulu, Disney+, and ESPN’s upcoming standalone streaming offering. Hulu currently has nearly 55M subscribers and hosts hits like The Bear and Only Murders in the Building. CEO Bob Iger said the acquisition will help Disney sharpen its streaming strategy amid increasing pressure from rivals.  CNBC

Minor Headline

• Star PE lawyer Dick Beattie dies at 86 — New York Times 

  
  

• Trump’s National Guard deployment faces legal challenge in California — Financial Times 

  
  

• Ken Moelis to step down as CEO of Moelis & Company — Reuters 

  
  

• Apollo eyes $100B Germany push as U.S. turbulence shifts capital overseas — CNBC

  
  

• OpenAI crosses $10B in annual revenue thanks to ChatGPT boom —  CNBC

  
  

• K-pop stars RM, V exit military, promise BTS reunion —  Reuters

  
  

• NIH scientists slam estimated $12B in Trump-era funding cuts —Reuters

  
  

• Salmonella outbreak sparks mass egg recall across U.S. —Bloomberg 

  
  
  
  

Gen Z Word of the Day: NPC 

Meaning: non-playable character, boring or predictable

Example: “Some legacy carmakers are giving NPC energy — same models, same pitch, no innovation.”