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(WSJ) Instagram and Facebook are still running ads for illegal drugs, months after the WSJ revealed they were under federal investigation for the practice. Read more here.

(TechCrunch) The U.S. Commerce Department on Monday issued a report in support of “open-weight” generative AI models like Meta’s Llama 3.1, but recommended the government develop “new capabilities” to monitor such models for potential risks. Read more here.

(Washington Post) Meta reached a $1.4 billion settlement over claims the company improperly collected millions of users’ biometric data. Read more here.

(NYT) The presumptive Democratic nominee has won concessions from Big Tech leaders on A.I., but she hasn’t successfully pushed Congress to regulate. Read more here.

(Verge) Two of Silicon Valley’s famous venture capitalists make the case for backing Trump: that their ability to make money is the only value that matters. Read more here.

(Fortune) On Monday generative AI model startup Cohere celebrated a fresh $500 million in new funding at a $5 billion valuation, and on Tuesday company said it was laying off about 20 employees (out of close to 400). Read more here.

(Venture Capital Journal) The firm’s CEO said $2trn in projected capital expenditures in data center development globally will create ‘unprecedented opportunities.’  Read more here.

(The Information) Greetings from San Francisco, where unprecedented political chaos has forced venture capitalists into political debates. Read more here.

(FT) Criticism from asset managers is increasingly leading big employers to walk back diversity and environmental measures. Read more here.

(Washington Post) With the GOP pledging free rein for the new technology and action in Congress stalled, Sacramento is pushing plans to put guardrails on AI. Read more here.