The Brutalist Report

Techmeme

Syntiant, which develops low-power AI processors, files for a US IPO, reporting a $20.9M net loss on $64.5M in revenue for the three months ended March 31 (Pragyan Kalita/Reuters) [5d]
Samsung estimates Q2 operating profit of ~$58.44B, a 19-fold jump from a year earlier and above a ~$57.02B estimate, and revenue up 129% YoY to ~$111.7B (Reuters) [5d]
xAI rebrands to SpaceXAI and debuts a new logo (Kelsey Vlamis/Business Insider) [5d]
Anthropic researchers detail J-space, a small set of neural patterns in Claude that reveals internal thoughts that don't appear in the model's output (Anthropic) [5d]
BonkDAO, which oversees the Bonk memecoin, says it was the target of a "malicious governance proposal" that resulted in a loss of $20M worth of Bonk tokens (Daniel Kuhn/The Block) [5d]
Sources: Vista Equity and Quinti made a takeover bid for Criteo that values the French ad tech company at a 50%+ premium to its stock price in recent weeks (Bloomberg) [5d]
Source: Thrive Capital spinoff Thrive Holdings seeks to raise around $2B from SoftBank, Altimeter, D1, and others, after previously raising $1B (Julia Hornstein/The Information) [5d]
Sources: CISA's Attack Surface Evaluation team is using Mythos to audit government code repositories and has already uncovered a large number of vulnerabilities (Raphael Satter/Reuters) [5d]
SCOTUS declines to block a Texas law requiring app stores and developers to verify the age of mobile device users, and for minors to obtain parental consent (Andrew Chung/Reuters) [5d]
Sources: the US considers housing the Strategic Bitcoin Reserve at Commerce instead of Treasury amid concerns over Treasury's legal authority to manage it (Bloomberg) [5d]
Xbox appoints Helen Chiang as its first COO; Chiang was previously corporate vice president for the Minecraft Franchise and the studio head of Minecraft (Sam Smith/GamesBeat) [5d]
Source: Xbox Game Pass currently has about 30M subscriptions; document: Microsoft had projected Game Pass subscriptions would reach around 77M this year (Ben Fritz/Wall Street Journal) [5d]
A term sheet shows Tencent is seeking to raise as much as $1.55B in a selldown of part of its stake in short-video app operator Kuaishou through a block trade (Julia Fioretti/Bloomberg) [5d]
Tencent releases Hy3, a 295B-parameter model that it says is competitive with GLM-5.1 and 5.2, under the Apache 2.0 license, following a preview launch in April (Sam Witteveen/VentureBeat) [5d]
Source: Mercor hit over $2B in gross revenue run rate in June, double its pace in April, and is profitable on a free cash flow basis (Julia Hornstein/The Information) [5d]
Illinois Governor JB Pritzker signs SB 315, a bill requiring annual third-party safety audits of leading AI companies; OpenAI and Anthropic backed the bill (Adam Harrington/CBS News) [5d]
Nintendo plans to stop selling the original Switch, Lite, and OLED in Europe from mid-February 2027 and update the Switch 2 to comply with new EU battery rules (Andrew Webster/The Verge) [5d]
Filing: Strategy sold 3,588 bitcoin for ~$216M between June 29 and July 5 to replenish its USD reserve; its holdings have an $11.4B paper loss at current prices (James Hunt/The Block) [5d]
Memo: Xbox CEO Asha Sharma says the unit will divest five studios, including Ninja Theory, alongside 3,200 job cuts, to streamline the business, in a "reset" (Bloomberg) [5d]
Memo: Microsoft is laying off ~4,800 employees, or ~2.1% of its workforce; most layoffs are in Xbox, where ~8% are being cut, rising to 15% in this fiscal year (Tom Warren/The Verge) [5d]
Reddit says its AI-powered content moderation systems caught 25K "spammy posts and comments" per day in Q1, reducing users exposure to such content by 20% YoY (Natalie Lung/Bloomberg) [5d]
Broadcom agrees to expand its Apple partnership through 2031 to develop and supply custom chips; in 2023, the companies announced a multibillion-dollar deal (Akash Sriram/Reuters) [5d]
Anthropic signs a 20-year, $19B lease to use a TeraWulf data center in Kentucky, set to have a ~400MW capacity, with the first power delivery in H2 2027 (CNBC) [5d]
AI agent training platform Bespoke Labs raised $40M across a seed led by 8VC and a Series A led by Wing, saying the funding gives it almost two years of runway (Natalie Breymeyer/Axios) [5d]