Meta agrees to a multistate settlement over claims that Facebook and Instagram harmed children and misled users about platform safety. The deal, reached during an active federal trial in California, reportedly requires product changes and a payment in the range of about $16.7 billion to $17 billion, making it one of the biggest child-safety cases to hit a social media company.

Nvidia posts another record quarter, reporting $96.2 billion in revenue and $59.69 billion in profit as demand for AI chips continues to surge. The results more than double revenue from a year earlier and top Wall Street expectations, reinforcing the company’s central role in the global buildout of AI infrastructure.

Apple schedules its next major iPhone launch event for September 9 at its Cupertino headquarters. The presentation is expected to be the company’s biggest product event of the year and the first major launch under CEO John Ternus, giving investors and consumers an early read on Apple’s next phase of leadership and hardware strategy.

Bill Gates warns that artificial intelligence could eliminate large numbers of jobs and create new biological security threats if governments and companies move too slowly. He argues that the industry is not fully confronting the scale of the risks and says policymakers need to prepare for both economic disruption and misuse of powerful tools.

Moonshot AI is in early talks with Microsoft, Amazon and Google about hosting its Kimi K3 model on their cloud platforms. The Chinese company is reportedly seeking a revenue-sharing arrangement tied to services built on the model, a sign of intensifying competition over how major AI systems are distributed and monetized worldwide.

Apple formally announces its September 9 event under the tagline “Surprise and shine,” with a start time of 10 a.m. Pacific. The invitation ends weeks of speculation about the date and locks in the timetable for the company’s next major product reveal, which is expected to center on the new iPhone lineup.