The Brutalist Report

Techmeme

How AI is transforming the pharma industry, with most gains so far from back-office streamlining and faster manufacturing rather than breakthrough drug research (Peter Loftus/Wall Street Journal) [71d]
Lattice Semiconductor agrees to acquire AMI for $1.65B in cash and stock; Georgia-based AMI provides firmware and infrastructure manageability for cloud and AI (Mike Rogoway/Oregonian) [71d]
Grab reports Q1 revenue up 24% YoY to $955M, above est., and a $154M adjusted EBITDA, vs. $146.3M est., helped by resilient demand for ride hailing and delivery (Olivia Poh/Bloomberg) [71d]
New Mexico child safety trial: New Mexico asks a judge to declare Meta a public nuisance and to order it to pay $3.7B and overhaul its apps to protect children (Diana Novak Jones/Reuters) [71d]
Crypto stocks jump after lawmakers struck a compromise on the CLARITY Act to preserve stablecoin rewards under certain conditions; Circle's stock closed up ~20% (Tanaya Macheel/CNBC) [71d]
Duolingo reports Q1 revenue up 27% YoY to $292M, vs. $288.5M est., bookings up 14% to $308.5M, and expects slower growth in Q2; DUOL drops 12%+ after hours (Akash Sriram/Reuters) [71d]
Musk v. Altman: Greg Brockman testifies that his OpenAI stake is now worth ~$30B; a Musk attorney asks why he hasn't donated $29B to OpenAI's nonprofit arm (Bloomberg) [71d]
Palantir reports Q1 revenue up 85% YoY to $1.63B, vs. $1.54B est., US government revenue up 84% to $687M, and US commercial revenue up 133% to $595M (Jaspreet Singh/Reuters) [71d]
Elon Musk agrees to pay $1.5M to settle SEC allegations that he cheated Twitter shareholders in 2022 by failing to disclose the 5%+ stake he had in the company (Nicola M White/Bloomberg) [71d]
Pinterest reports Q1 revenue up 18% YoY to $1B, vs. $966M est., MAUs up 11% YoY to 631M, and forecasts Q2 revenue above estimates; PINS jumps 17%+ after hours (Jonathan Vanian/CNBC) [71d]
Musk v. Altman: Stuart Russell, Musk's only AI expert witness, warned of AI risks but his concerns about AI's existential threats were excluded by the judge (Tim Fernholz/TechCrunch) [71d]
Sources: the Trump administration is discussing an EO to create an AI working group to examine AI oversight procedures, including vetting models before release (New York Times) [71d]
Former Trump and Biden AI advisers Dean Ball and Ben Buchanan urge bipartisan action on AI security risks, including tighter export controls and safety audits (New York Times) [71d]
Why there is a 60%+ chance of AI systems autonomously building their own successors by the end of 2028, and a look at the consequences of fully automated AI R&D (Jack Clark/Import AI) [71d]