The day in tech.

President Trump claims a U.S.-Iran memorandum of understanding will soon be signed, reopening the Strait of Hormuz without tolls and granting Iran sanctions relief based on compliance. The MOU extends the ceasefire for 60 days, including in Lebanon, and sets a framework for addressing Iran's enriched uranium stockpile.

Xiaomi open-sourced MiMo Code V0.1.0, an AI coding assistant. The tool reportedly beats Claude Code on long tasks. The release marks Xiaomi's entry into the open-source AI coding tool space.

Voicecomm Technology (02495.HK) entered into an ecosystem partnership with Huawei Cloud, according to a company announcement. The collaboration aims to integrate Voicecomm's offerings with Huawei Cloud's platform. Specific terms or services under the partnership were not detailed in the announcement.

The author argues Elon Musk should make even more fantastical SpaceX projections. The piece suggests bolder claims could better inspire public and investor interest in the company's long-term space ambitions.

A KPMG report contained AI hallucinations about the benefits of AI. The report inaccurately described AI advantages, highlighting risks of relying on AI-generated content without verification. The incident underscores the need for human oversight in AI-produced materials.

The US insurance rulemaker is investigating credit risks linked to data centres. The probe examines potential financial vulnerabilities from the growing data centre industry. Regulators are assessing how these risks could impact insurance markets and policyholders.

The quantum computing revolution is closer than many anticipate. Advances in hardware and error correction are accelerating progress toward practical quantum machines. The technology promises to solve problems classical computers cannot handle, though widespread commercial use remains years away.

Oracle warned customers of a critical PeopleSoft vulnerability after ShinyHunters claimed breaches of over 100 organizations using PeopleSoft. Oracle has not yet issued a patch for the flaw.

Infineon plans to open a €5 billion chip factory in Germany, its largest single investment, backed by EU subsidies. The factory is set to open on July 2 as Europe seeks to boost chip production.

Equal AI raised $30 million in Series B funding led by Prosus Ventures and Tomales Bay Capital for its Android app that screens calls and tells users why someone is calling. The app has over a million monthly active users. Total funding to date exceeds $42 million.