The Brutalist Report

Techmeme

New Mexico trial: a judge orders Meta to pay $567M and make changes for underage users after finding its platforms helped create a public nuisance harming teens (KOB 4) [35d]
Alphabet raises $25B in a bond sale; sources say the offering attracted roughly $115B of peak demand and that the company plans to issue US debt twice a year (Bloomberg) [35d]
Atlassian reports Q4 revenue up 28% YoY to $1.77B, vs. $1.66B est., cloud revenue up 31% to $1.2B, forecasts Q1 revenue above est.; TEAM jumps 31%+ after hours (Arunesh Sinha/Reuters) [35d]
Twilio reports Q2 revenue up 22% YoY to $1.5B, above $1.43B est., and forecasts Q3 revenue above estimates; TWLO jumps 16%+ after hours (Reinhardt Krause/Investor's Business ...) [35d]
Sources: Canva slashed revenue growth forecast as heavy use of new AI features drove up costs and slowed their rollout, while more Canva users turned to ChatGPT (The Information) [35d]
Cloudflare reports Q2 revenue up 36% YoY to $696.1M, above $665M est., and forecasts Q3 revenue above estimates; NET jumps 17%+ after hours (Angela Palumbo/Barron's Online) [35d]
Instacart reports Q2 revenue up 14% YoY to $1.04B, GTV up 14% to $10.35B, above est., forecasts Q3 GTV and core profit above est.; CART jumps 8%+ after hours (Koyena Das/Reuters) [35d]
Roku reports Q2 revenue up 22% YoY to $1.35B vs. $1.3B est., net income of $164.2M, ad revenue up 25% to $673M, and subscription revenue up 26% to $548M (Todd Spangler/Variety) [35d]
Lyft reports Q2 revenue up 16% YoY to $1.84B, vs. $1.81B est., rides up 12% to 262.4M, and expects Q3 gross bookings growth to slow to 15%-19% (Kelly Cloonan/Wall Street Journal) [35d]
Airbnb reports Q2 revenue up 17% YoY to $3.6B, Nights and Seats Booked up 10% to 148.3M, above est., lifts 2026 revenue forecast; ABNB jumps 10%+ after hours (Natalie Lung/Bloomberg) [35d]
AMD acquires Toronto-based Taalas, which integrates model weights directly into silicon to boost inference performance, for an undisclosed sum (Tobias Mann/The Register) [35d]
Sources: OpenAI's new device, slated for 2027, is a hockey puck-sized smart speaker with moving parts that help give it personality, likely costing $300+ (Mark Gurman/Bloomberg) [35d]
Gravity, which places text-based ads within AI chatbots, raised a $30.5M Series A co-led by Lightspeed and Committed, taking its total funding to $38.5M (Lara O'Reilly/Business Insider) [35d]
Docs: US data labeling companies, like Surge AI and Mercor, that sell training datasets to US AI labs and the government are also selling them to Chinese labs (Anna Tong/Forbes) [35d]
Figma CEO Dylan Field forfeits ~$46M in stock awards to revive investor confidence amid AI disruption fears; FIG is down ~77% from its peak more than a year ago (Brody Ford/Bloomberg) [35d]
Scientists trained AI on genetic sequences to design viruses not found in nature, yielding viable viruses that can infect bacteria but pose no threat to humans (Carl Zimmer/New York Times) [35d]
Sources: Panthalassa, which aims to power data centers in the ocean using energy generated by waves, is raising $225M at a ~$2B valuation, up from $1B in May (Julia Hornstein/The Information) [35d]
Sources: Nscale told potential backers it generated $100M+ in Q2 revenue, up from $37M in Q1, and has $51B in contracts, ahead of a possible September US IPO (Bailey Lipschultz/Bloomberg) [35d]
Suno plans to adopt new watermarking and fingerprinting tech, transparency tools, and a new download policy to limit the spread of spammy AI tracks (Terrence O'Brien/The Verge) [35d]