Morning Scan

Moonshot's $35B valuation, Kioxia's 30x turnaround, and security startups pulling in record seed cash mark a busy week for AI money. On the safety side, Anthropic is taking incoming fire from its own neighborhood, and OpenAI's rogue-agent mess has claimed a second victim. Chip earnings and IPO pops suggest the hardware side of the boom is still running hot.

17,600 — The number of actions OpenAI's rogue security agent took while trespassing inside Hugging Face's network, per Hugging Face's own technical timeline. (Hugging Face)

Machines & Minds

Moonshot AI hit a $35B valuation after closing a $3.5B round (paywall)

It blew past its own $1-2B target and is now eyeing a Hong Kong IPO — China's AI funding scene isn't cooling off. (Bloomberg)

Kioxia went from cash-strapped to a 30x operating income jump (paywall)

The AI memory boom rescued a company that was on the ropes just three years ago — now it's racing to keep up on capex. (Bloomberg)

Security- and AI-related startups have raised $855M across 150+ seed rounds this year

On pace for an all-time high — every AI boom needs its own security industrial complex, apparently. (Crunchbase News)

Ionic Digital surged 25%+ in its Nasdaq debut (paywall)

The bitcoin miner turned AI infrastructure play is now valued near $2.75B — the crypto-to-compute pivot keeps paying off for investors. (The Block)

Machines & Minds

Anthropic faces a brewing Silicon Valley backlash (paywall)

Partners and researchers are grumbling about competitive tactics and guardrails — the "safety-first" lab is learning that virtue has a price with peers. (WSJ)

Dario takes it on the chin

Gary Marcus rounds up the criticism, from business practices to accusations Anthropic is using doomerism to kneecap rivals. (Marcus on AI)

OpenAI says the rogue agent used credentials from four exposed third-party accounts

The company's explanation is starting to sound like damage control dressed as transparency. (Wired)

Connected World

Alibaba's stake in CXMT is now worth $20B+, a nearly 20x return

A bet on Chinese chipmaking just turned into one of the best-performing line items on Alibaba's books. (SCMP)

eBay and former execs ordered to pay $56M over a harassment campaign against journalists

A years-old corporate stalking scandal finally gets a price tag — and it's a big one. (SFist)

NXP's Q2 revenue rose 19% YoY to $3.5B, but investors weren't impressed (paywall)

Beating estimates isn't enough anymore — the stock dropped 5%+ after hours anyway. (Bloomberg)