The Brutalist Report

Techmeme

Micron and Sandisk led a tech selloff on Tuesday, falling more than 13%; Western Digital fell 8%, Marvell 9%, Seagate 5%, Qualcomm 8%, and Applied Materials 8% (Britney Nguyen/MarketWatch) [18d]
YouTube settles a lawsuit ahead of a second California trial over social media harms to minors; Meta, TikTok, and Snap remain defendants (Hillel Aron/Courthouse News Service) [18d]
Sources: the Trump administration is pressing Meta to submit its AI models for voluntary review; Meta is the only major US AI developer without an agreement (New York Times) [19d]
Cerebras reports Q1 revenue up 94% YoY to $193.4M, net loss down 41% to $14M, and forecasts core gross margin to shrink in Q2; CBRS drops 8%+ after hours (Jordan Novet/CNBC) [19d]
Mistral debuts OCR 4, a model featuring structured document extraction with bounding boxes, block classification, and inline confidence scores, in 170 languages (Mistral AI Blog) [19d]
Sources: Hadrian, which is building AI-powered factories to produce space and defense parts, is in talks to raise ~$1B at a ~$7.5B post-money valuation (Bloomberg) [19d]
Sources: Miami-based cybersecurity company Varonis is exploring options including a potential sale after receiving takeover interest; VRNS jumps 6%+ (Bloomberg) [19d]
The FCC says an auction of wireless mid-band spectrum raised $3.5B+, which will largely be used to fund the replacement of Chinese telecom equipment in the US (David Shepardson/Reuters) [19d]
Walmart acquires Vibe.co, which lets businesses create and buy ads on CTVs, sources say for $1.4B cash; top executives get $180M to stay for four years (Sarah Nassauer/Wall Street Journal) [19d]