Tech Digest: Eli Lilly's Psychedelic Bet, Meta's $50B Data Center, and OnePlus's Market Exit
This week's digest covers Eli Lilly's $2.8B acquisition of AtaiBeckley, Meta's massive $50B data center expansion in Louisiana, OnePlus's withdrawal from Western markets, and major regulatory moves in the EU and UK regarding social media and AI.
Podcast В· 2 min
Eli Lilly Acquires AtaiBeckley for $2.8B
Eli Lilly has agreed to acquire AtaiBeckley for $2.8B in an upfront cash deal, with an additional $1B tied to regulatory and development milestones. The acquisition centers on BPL-003, a 5-MeO-DMT nasal spray currently in Phase 3 trials for treatment-resistant depression. This deal marks Lilly's ninth acquisition this year and signals a strategic move into psychedelic-based mental health treatments. By shifting from daily antidepressants to clinic-administered doses, Lilly aims to compete directly with Johnson & Johnson's ketamine-based Spravato, which already generates over $1B in annual revenue.
Meta Expands Louisiana Data Center to $50B
Meta is significantly scaling up its Hyperion data center project in Richland Parish, Louisiana, with the investment now projected to exceed $50B. The facility's capacity is being expanded from a planned 2 gigawatts to 5 gigawatts. The construction boom has already generated over $1.6B in local contracts and provided substantial bonuses for local teachers, though these are funded by temporary sales taxes. While the project is a major win for local infrastructure, the long-term economic impact remains a point of discussion as Meta has negotiated reduced property taxes for the facility's operation.
OnePlus Exits U.S. and European Markets
OnePlus is officially withdrawing from the U.S. and European markets, retreating to its home market in China as parent company Oppo restructures to navigate a severe memory-chip crunch. The brand, which gained popularity for offering flagship specs at mid-range prices, will stop shipping new devices to Western regions after a 12-year run. Existing users will be transitioned from OxygenOS to Oppo's ColorOS, with promises of continued support. This exit marks the end of one of Android's most influential challenger brands in the West, further narrowing consumer choice in the smartphone market.
EU and UK Move to Restrict Kids on Social Media
The European Union is preparing to codify strict social media access rules for children, with proposals suggesting that under-13s face significant restrictions until platforms can prove they are safe. Commission President Ursula von der Leyen has proposed a tiered approach, including no screen time before age 3 and supervised access for those under 13. Meanwhile, the UK is proposing rules to default social media apps to a midnight–6 a.m. shutdown for 16- and 17-year-olds, while disabling infinite scroll and autoplay features. These moves reflect a growing global consensus that current self-enforcement by tech companies has failed to protect minors.
China Recovers Reusable Rocket via Net Catch
China has successfully recovered an orbital-class rocket booster, marking a significant milestone in its space program. The 63-meter Long March 10B launched from Hainan and, instead of using traditional landing legs, deployed hooks to snag steel cables stretched across a recovery ship at sea. This innovative approach aims to keep the booster lighter and simpler than the SpaceX Falcon 9 design. China plans to test the recovered booster for potential relaunch by the end of the year, as it works toward its commercial and crewed-lunar ambitions.