AMC CEO Adam Aron said he may take legal action against Robinhood after the brokerage launched a tokenized product tied to AMC’s stock without the company’s permission. Robinhood has recently rolled out a prediction-markets platform and expanded tokenized U.S. stock offerings to investors in more than 120 countries, while AMC said it had no involvement and does not endorse the product. The dispute has revived questions about the compliance of putting corporate equity exposure on-chain after SEC staff previously said third parties can tokenize securities.

Anthropic investors are targeting a $2 trillion valuation for the company’s October IPO, with some arguing even $3 trillion would be conservative. The target is tied to projections that revenue could reach $100 billion to $120 billion by the end of 2026, according to the Financial Times. By comparison, SpaceX’s IPO valuation is $1.7 trillion, and its shares have swung sharply but are now near the IPO price of $135 per.

Micron Technology said it has signed 16 multiyear strategic customer agreements (SCAs) spanning data center, consumer and automotive segments, tying customer purchase volumes to pricing through the end of 2030. The company expects these SCAs to account for more than 50% of its revenue. Its latest earnings report showed quarterly revenue of $41.5 billion, up 346% year over year. Lenovo, Valve and Apple have publicly complained that surging memory prices are non-negotiable, highlighting a shift in bargaining power toward major memory suppliers.

Five U.S. federal regulators jointly released a proposed stablecoin framework that would require issuers to run Customer Identification Program (CIP) checks on direct customers while explicitly not mandating KYC for people transacting in secondary markets. The proposal is open for public comment and is intended to implement the GENIUS Act by treating permitted payment stablecoin issuers as financial institutions under the Bank Secrecy Act. The article also notes a recent public clash between executives at Coinbase and JPMorgan over stablecoin compliance expectations.

The Trump administration’s Department of Justice asked a court to let it intervene in the NAACP’s lawsuit against Elon Musk’s xAI and then dismiss the case, arguing the company’s operations are tied to national security. The NAACP alleges xAI and its subsidiary MZX Tech unlawfully ran methane gas turbines near Memphis without an air permit to power the Colossus 2 data center. The dispute has focused on the role of natural gas-fired generation in supporting AI data centers and power reliability. As of mid-May, the turbine count had risen to 57, according to WIRED.

Meta is testing facial recognition and “liveness detection” software from Rank One, a company that has supplied surveillance tools to U.S. government agencies including the U.S. Marshals Service and U.S. Special Operations Command. The technology is linked to a test version of Meta’s unreleased facial recognition capability. It is embedded in dormant NameTag code inside the Meta AI app.