Beatrice Nolan / Fortune:
Cursor-developer Anysphere acquires code review startup Graphite and says Graphite will continue operating as an independent product  —  The AI coding market is booming amid enterprise adoption.GRAPHITE  —  Anysphere, the company behind Cursor, is buying code review startup Graphite in a deal …

Bloomberg:
Sources: ByteDance is on track for ~$50B profit in 2025 after generating a ~$40B net income in the first three quarters, surpassing its internal target for 2025  —  ByteDance Ltd. is on track for profits of roughly $50 billion in 2025, capping a record year for a Chinese social media leader …

Brock E.W. Turner / Axios:
Boston-based Neurable, which builds an OS for brain-computer interfaces, raised a $35M Series A led by Spectrum Moonshot Fund, bringing its total raised to $65M  —  Neurable, a neurotechnology company, raised a $35 million Series A round led by the Spectrum Moonshot Fund, CEO Ramses Alcaide tells Axios Pro exclusively.

Kenrick Cai / Reuters:
Google Cloud and Palo Alto Networks strike a deal that a source says is Google Cloud's largest security services deal “approaching $10B” over several years  —  Alphabet's (GOOGL.O) cloud computing unit and cybersecurity company Palo Alto Networks (PANW.O) on Friday announced …

Financial Times:
Memo: TikTok CEO Shou Zi Chew says ByteDance's US entities will retain direct control over core US revenue drivers, including ecommerce, ads, and marketing  —  Oracle, Silver Lake and MGX to invest in new data security joint venture as part of Trump-brokered deal

Erin Woo / The Information:
Sources: Google has formed a new executive council to allocate computing capacity given a critical shortage; members include Thomas Kurian and Demis Hassabis  —  Earlier this year, Google convened a group of its top executives to address what some staffers see as an existential problem …

Eleanor Olcott / Financial Times:
Sources: China is retrofitting older models of ASML's DUV machines to produce advanced smartphone and AI chips, exposing cracks in US-led export controls  —  Restricted chipmaking tools are being retrofitted to make advanced AI chips, exposing cracks in US-led export controls

Ira Boudway / Bloomberg:
DraftKings launches DraftKings Predictions, a new app that lets customers in 38 states trade contracts on sports and financial events through prediction markets  —  DraftKings Inc. is releasing a new app on Friday that will allow customers in 38 states to trade contracts on sports and financial events through prediction markets.

Miranda Bryant / The Guardian:
Denmark says Russia was behind “destructive and disruptive” cyberattacks on a water utility in 2024 and DDoS attacks in the lead-up to local November elections  —  Intelligence service says attacks were work of groups connected to Russian state in ‘clear evidence’ of hybrid war

Bloomberg:
Sources: The Chan Zuckerberg Initiative cuts ties with FWD.us, an immigration advocacy group founded by Mark Zuckerberg, eliminating FWD.us' main funding source  —  Mark Zuckerberg's philanthropy has cut ties with the pro-immigration advocacy group that he founded more than a decade ago …

Olga Kharif / Bloomberg:
Coinbase sues Connecticut, Illinois and Michigan over state attempts to regulate prediction markets, arguing that they fall under the jurisdiction of the CFTC  —  Coinbase Global Inc. said it is suing the US states of Michigan, Illinois and Connecticut over their attempts to regulate prediction markets.

Financial Times:
Sources: UK officials believe China was behind the October cyber attack on the UK's Foreign Office, which aimed to access tens of thousands of sensitive files  —  The UK's Foreign Office was the victim of a major cyber attack in October, which officials believe was carried out by Chinese hackers.

Alex Heath / Sources:
Meta's head of Threads Connor Hayes says that fediverse compatibility isn't a priority for its current roadmap, but it is something that it's “maintaining”  —  Connor Hayes wants Meta's X rival to be “the place on the internet to talk about what's going on in the world.”

Adamya Sharma / Android Authority:
Samsung unveils the Exynos 2600, the world's first smartphone SoC built on a 2nm Gate-All-Around process, expected to power some Galaxy S26 and S26 Plus models  —  Galaxy S26 could get Samsung's boldest chip yet: Meet the 2nm Exynos 2600.  —  •  —  TL;DR

Vicky Ge Huang / Wall Street Journal:
The administrator winding down Do Kwon's Terraform Labs sues Jump Trading for $4B, alleging it unlawfully profited from and contributed to Terraform's collapse  —  Administrator winding down what remains of Terraform Labs is seeking $4 billion in damages  —  The administrator winding …

Anvee Bhutani / Wall Street Journal:
Trump signs the annual defense bill with provisions authorizing the president to screen and restrict US financing of Chinese tech companies  —  Trump signs annual National Defense Authorization Act into law with provisions meant to cut off capital for military and surveillance projects

Alex Kantrowitz / Big Technology:
Q&A with Sam Altman on OpenAI's “code red” call, enterprise strategy, product ambitions, IPO plans, ChatGPT's personalization plans, and more  —  OpenAI's CEO joins Big Technology for a candid discussion covering OpenAI's strategy, its product ambitions …

Jesse Hamilton / CoinDesk:
The US Senate confirms FDIC acting chairman Travis Hill to lead the agency, which regulates stablecoin issuers and impacts how the crypto industry is banked  —  In a package of confirmations, the U.S. Senate approved Mike Selig to lead the CFTC and Travis Hill to run the FDIC, both with major potential reach into crypto.

Lydia Beyoud / Bloomberg:
The US Senate confirms Trump pick Michael Selig as chairman of the CFTC, as lawmakers consider legislation to give the agency more control over digital assets  —  The US Senate on Thursday night confirmed Michael Selig as chairman of the Commodity Futures Trading Commission and Travis Hill …

Chris McGuire / Council on Foreign Relations:
US approving Nvidia H200 exports to China is based on the idea that Huawei is a viable competitor, but data shows the gap between Nvidia and Huawei is widening  —  Executive Summary  —  On December 8, the Trump administration announced plans to loosen U.S. export controls on artificial intelligence …