Broadcom CEO's 'gamblers' remark rattles chip stocks, Meta unveils Wonder AI models, Sony, Nvidia, Google - Big Tech Report

11:31: Broadcom CEO's 'gamblers' remark on AI investors rattles chip stocks

Comments by Broadcom CEO Hock Tan comparing AI investors to casino gamblers have been cited as a factor in semiconductor stock declines over two consecutive sessions. Tan made the remarks at the DBS Asia Future Forward Conference in Singapore, as reported by Bloomberg, prompting debate over whether he intended a bullish or bearish signal on the state of AI investment.

Broadcom shares fell 1.88% to $354.73 in regular trading. The ambiguity over Tan's intent has itself become part of the story, with investors and commentators divided on how to read a remark from one of the AI buildout's most closely watched executives.

11:31: Meta unveils Wonder AI models, claims parity with OpenAI and Anthropic

Meta on Monday unveiled two new "frontier" AI models, Wonder and Wonder Full, which it says perform at a level comparable to OpenAI's and Anthropic's leading systems. "Muse Spark was our first family of models, and now Muse Wonder is a much larger and more advanced class of models that brings us to the frontier," CEO Mark Zuckerberg wrote on X. The models cite benchmarking data from independent firm Artificial Analysis showing Wonder outperforming Meta's earlier Spark model as well as various models from Anthropic, OpenAI and Google; the same benchmarking site lists Wonder among the most expensive models available. Chief AI officer Alexandr Wang said Wonder "rivals the big" labs. Shares in Meta rose 3.38% to $742.96.

The models will soon be available to paid subscribers through Meta's Muse personal-agent app. The launch follows Meta's $14 billion investment in Scale AI last June, which brought Wang into the company to lead its newly formed Superintelligence Labs, and comes after Meta said in July that its AI-related spending could reach $145 billion this year. Zuckerberg has said Muse's launch was delayed by several months to focus on safety, though the New York Times has reported he moved up the timeline in response to competition from startup Instinct.

11:31: Nintendo commits to physical games as Sony pushes digital-only strategy

Nintendo has no plans to drop physical game releases, according to Bill van Zyll, the company's VP and general manager for Latin America, even as Sony moves toward phasing out disc-based media. "There's no plans to ditch physical. We know how much the fans like it as well, so our position has been to be agnostic," van Zyll said in an interview with the Brazilian YouTube channel Coelho no Japão, noting the Switch 2, just over a year into its lifecycle, supports both digital and physical formats.

The commitment comes with caveats. Many Switch 2 cartridges now ship as "game-key cards" — physical cards holding only a license to download the full game, rather than the game data itself — a workaround for titles that exceed the console's 64GB cartridge capacity. Nintendo has also raised physical prices for its first-party titles by $10 as of May 2026, which it frames as a $10 reduction in digital pricing rather than a physical surcharge. Sony shares traded at $24.26, up 0.58%, in the regular session.

11:31: Reddit moves to disqualify former law firm from defending Perplexity

Reddit has asked a federal judge to bar Proskauer Rose from representing Perplexity AI in a lawsuit accusing the AI search startup of scraping Reddit's data without authorisation. Reddit argues that Proskauer, which previously served as its own outside counsel, cannot now switch sides to defend a company it is suing in the same dispute.

The procedural fight is a sideshow to the underlying case, which centres on claims that Perplexity accessed Reddit's data without a licensing agreement — part of a broader wave of litigation over how AI firms source training and retrieval data from platforms that host user-generated content. Reddit shares were little changed, up 0.01% at $159.93.

11:32: Microsoft report: AI is accelerating cyberattacks and widening their reach

Microsoft's Digital Defense Report 2026 finds that AI is making cyberattacks faster, more scalable and harder to defend against, as attackers use it to find vulnerabilities, generate malware and run phishing campaigns at scale. The report, covering July 2025 to June 2026, says AI can compress attack chains that once took days into seconds for advanced actors, while AI systems and the data and infrastructure behind them are themselves becoming targets. Globally, Microsoft Threat Intelligence data cited in the report shows 63% of intrusions involved data theft, more than 46 million business email impersonation attacks were detected, and 73.3% of initial access attempts relied on user execution, valid accounts, social engineering or phishing.

The report identifies digital identities as an increasingly common entry point, with credentials used to pivot into other systems, and warns that risk is spreading through interconnected open-source software, edge devices, cloud identities and operational technology, so that a single vulnerability can cascade across organizations via supply chains. Microsoft argues cyber resilience is becoming a leadership-level responsibility rather than purely an IT function, while also pointing to AI's use in defense — vulnerability discovery, threat detection and automated response. Shares of Microsoft (MSFT) were up 1.14% at $541.15 in regular trading.

11:32: Google adds UK publisher Reach to news AI pilot programme

Google has signed UK newspaper group Reach to its news AI pilot programme, a commercial arrangement under which Google pays for enhanced content rights and tests experimental AI features and delivery methods using publisher material. Reach, publisher of the Mirror and Express titles, joins the scheme alongside other outlets already participating.

Reach chief executive Piers North framed the deal as a way to monetise the publisher's archive and local reporting as AI firms compete on content differentiation. Google's Hayley Cochrane, director of news partnerships for the UK and Northern Europe, described the tie-up as a chance to explore how AI can drive engaged audiences. Google shares were up 0.30% at $352.72 in regular trading.