The Brutalist Report
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- SAP will make it easier for customers to switch to rival service providers or end contracts, averting a possible EU antitrust fine after a September 2025 probe (Foo Yun Chee/Reuters) [57d]
- SK Hynix raises $26.5B in the largest ever US market debut by a foreign company, selling 177.9M ADRs for $149 each; the sale was more than 7x oversubscribed (Bloomberg) [57d]
- Fidji Simo is stepping down from her full-time role at OpenAI because her medical condition has worsened, and will become a part-time adviser (Wall Street Journal) [57d]
- Mercor acquires Deeptune, which builds reinforcement learning environments for AI agents, three months after CEO Brendan Foody backed Deeptune's $43M Series A (Lily Mae Lazarus/Fortune) [57d]
- Sources: Netflix executives are increasingly worried about declining engagement and are exploring adding live TV and bundling streaming services like Peacock (Wall Street Journal) [57d]
- Coinbase's chief legal officer, Paul Grewal, is stepping down after six years; VP of legal Molly Abraham moves into his role with the title of general counsel (Hannah Lang/Reuters) [57d]
- Federal Reserve Chair Kevin Warsh names Marc Andreessen and Xbox CEO Asha Sharma to lead a task force on the economic impact of new technologies, including AI (Andrew Ackerman/Washington Post) [57d]
- Google says it will automatically add a disclosure to ads that are made with its AI advertising tools, expanding the disclosure beyond election ads to all ads (Sarah Perez/TechCrunch) [57d]
- PitchBook: US venture funding hit $412.7B in H1 2026, up 30% on all of 2025, with AI startup funding accounting for 86%, or $355.9B; Q2 saw seven $1B+ rounds (Duncan Riley/SiliconANGLE) [57d]
- Anthropic, set to add usage-based billing for Fable 5 on July 12, aims to return the model to Claude's subscription plans "when sufficient capacity allows" (Maxwell Zeff/Wired) [57d]
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