Techmeme
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Documents: the European Commission plans to propose an EU KIDS Act on Thursday to set a minimum age for accessing social media, video platforms, games, and more (Politico)
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The IFPI says music companies and distributors agreed on new rules to combat the use of AI-generated music to defraud streaming services and divert royalties (Daniel Thomas/Financial Times)
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China's Foreign Ministry criticizes warnings about AI risks, saying "fearmongering, confrontation, and vicious competition ... serve the interests of no one" (Bloomberg)
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In its first statement on AI, China's Ministry of State Security warns AI poses risks to the nation's political and social security, including cyber defenses (Eleanor Olcott/Financial Times)
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Z.ai says it plans to raise $5B+ via equity and debt to fund its AI investments, including ~$2B through a share placement, after raising $4B in July (P.R. Venkat/Wall Street Journal)
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Sources: Australian data center provider Firmus is seeking to raise up to $5B in an IPO at the end of October, in one of the largest-ever IPOs in Australia (Julia Fioretti/Bloomberg)
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How hyperscalers like Amazon, Microsoft, and Google are siding with consumers on data center power costs and sweetening offers for communities to gain support (Ann Davis Vaughan/The Information)
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Filing: San Jose-based Chinese optical module maker Ligent seeks ~$727M in a Hong Kong IPO, after its rival Zhongji Innolight's $6.8B Hong Kong debut in July (Sangmi Cha/Bloomberg)
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The US Senate digital assets subcommittee releases a revised "final offer" of the Clarity Act with Trump-backed ethics provisions, ahead of a September 15 vote (Felix Ng/Cointelegraph News)
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AI-connected Asian stocks fell sharply following US tech leaders' call for pacing AI development, with SoftBank, Kioxia, SK Hynix, Minimax, and Z.ai down 5%+ (Gregor Stuart Hunter/Reuters)
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Sam Altman says "we welcome a federal framework" but "do not believe we need to wait" for an antitrust exemption or a law to pace AI development responsibly (Sam Altman/@sama)
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Document: Samsung and SK Hynix rejected KEPCO's proposal to prepay ~$18.7B of chip cluster power bills, citing uncertainty over long-term chip demand (Reuters)
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Sources: SoftBank sealed a two-year loan facility to support its OpenAI investment, securing $11.87B in commitments from ~20 banks, above its $10B target (Janice Huang/Bloomberg)
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Current and former NSA officials: the US NSA plans major restructuring to form five new units for AI, China, cybersecurity, warfighting, and global intelligence (Washington Post)
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Source: Anthropic signed a $13.7B, six-year deal to lease compute from Rum Group's upcoming Georgia data center; Rum operates Rumble and hosts Truth Social (The Information)