The Brutalist Report - tech
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- Filing: Shein will debut on the Hong Kong exchange on Sept. 1, seeking up to $1.8B in its IPO with Goldman Sachs, Morgan Stanley, and JPMorgan as joint sponsors (Julia Fioretti/Bloomberg) [1d]
- Sam Altman says AI could end up controlled by a few powerful players, partly because AI fears could push people to trade "a lot of liberty for safety" (Truman Dickerson/Business Insider) [1d]
- Greg Abbott says data center companies "dug their own grave" by moving into communities without first gaining support, signaling growing Republican backlash (Axios) [1d]
- Sources: Hugging Face has been exploring a sale that could value it at $13B+, up from $4.5B in 2023, and has been working with a bank to gauge bidders' interest (Katie Roof/Business Insider) [1d]
- Ramp data: Fable 5, launched in June, has plateaued at ~11% of spending on Anthropic tools, as companies shift to cheaper models; Opus 5 surpassed Fable 5 (George Hammond/Financial Times) [1d]
- Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close (Reuters) [1d]
- Sources: foldable iPhone feels durable, fits well in a pocket, has useful iPad-like app layouts, excels as a camera viewfinder but lacks telephoto and Face ID (Mark Gurman/Bloomberg) [1d]
- The careers of Z.ai's Tang Jie and Moonshot AI's Yang Zhilin, once teacher and pupil at Tsinghua University, show that China's AI leap is no sudden development (Raffaele Huang/Wall Street Journal) [2d]
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