The Brutalist Report

Techmeme

• Amazon shutters its AGI Lab as part of layoffs in its AGI unit earlier this week; the lab's former head David Luan left in February (The Information) [49d]
• Sources: AI robotics startup Genesis AI is in talks to raise around $500M in a new funding round at a $3B pre-money valuation (Bloomberg) [49d]
• AMD is working with Cerebras to combine AMD Helios and Cerebras wafer-scale chips for an AI inference solution to make workloads faster; CBRS closed up 4.86% (Phoebe Liu/The Information) [49d]
• Nvidia signs a $1.5B accord with Amkor, involving a prepayment by Nvidia to help bolster Amkor's chip packaging facility in Arizona; AMKR jumps 16%+ after hours (Bloomberg) [49d]
• Sierra acquires Takeoff, which develops "long-horizon" agents, for an undisclosed sum; founded in 2025, Takeoff neared $10M in annualized revenue in early July (The Information) [49d]
• Sources: Stripe is in talks to acquire OpenRouter in a deal potentially worth around $10B; PitchBook: OpenRouter was valued at $1.3B in May (Wall Street Journal) [49d]
• SAP reports Q2 cloud revenue up 22% YoY to €6.28B, vs. €6.26B est., total revenue up 9.4% to €9.88B, and lowers its 2026 non-IFRS operating profit guidance (Grace Yoon/Wall Street Journal) [49d]
• The Pentagon signs an up-to-10-year contract with Oracle worth up to $7B to consolidate department's on-premises software licenses into a single contract (Mike Stone/Reuters) [49d]
• Oracle wins a 10-year software contract with the Pentagon worth up to $7B; the contract covers the use of Oracle software in on-premises data centers (Jordan Novet/CNBC) [49d]