The Brutalist Report

Techmeme

• Texas halts approval of data center grid connections until audits are performed; projects representing 474+ GW are in the queue, over 5x the grid's peak demand (The Texas Tribune) [38d]
• Amazon becomes the fifth company to reach a $3T market cap, joining Nvidia, Alphabet, Microsoft, and Apple; its stock closed up 4.58% on Monday (Jeran Wittenstein/Bloomberg) [38d]
• Snap reports Q2 revenue up 19% YoY to $1.6B, vs. $1.54B est., DAUs up 5% to 493M, vs. 487M est., forecasts Q3 revenue above est.; SNAP jumps 10%+ after hours (Jonathan Vanian/CNBC) [38d]
• Palantir reports Q2 revenue up 93% YoY to $1.94B, vs. $1.8B est., US commercial revenue up 149%, and raises FY 2026 revenue guidance; PLTR jumps 9%+ after hours (Samantha Subin/CNBC) [38d]
• Samsung says it's restricting app registrations and removing apps with SDKs that can turn smart TVs into residential proxy exit nodes, after a similar ban by LG (Zack Whittaker/TechCrunch) [38d]
• Court docs: an FBI agent has been charged with amassing ~$1M worth of cryptocurrency, largely by making unauthorized withdrawals from a criminal target overseas (Devlin Barrett/New York Times) [38d]