The Brutalist Report

Techmeme

• Filings: Moonshot restructured its China-based entity from a limited liability company to a joint stock company in its first visible step toward a Hong Kong IPO (Financial Times) [34d]
• The US OCC denies Dutch fintech Bunq's application for a national bank charter, citing the need for more clarity on its business plan to expand in the US (Bloomberg) [34d]
• Sources: Situational Awareness invested $500M, including $400M this week, into Source Foundry, a startup that plans to develop new AI chip manufacturing tools (Wall Street Journal) [34d]
• The Clarity Act faces uncertainty after Senate Republicans delayed a vote until after their August recess, pushing it to September, just weeks before midterms (Jasper Goodman/Politico) [34d]
• Sources: data center operator Switch filed confidentially for a US IPO, and a listing could take place as soon as November; Ben Horowitz is joining its board (Bailey Lipschultz/Bloomberg) [34d]
• Retailers are updating their websites to rank highly in chatbot results, while making sure purchases are done on their own sites to collect customer data (Arriana McLymore/Reuters) [34d]