• US-Israeli startup Buildots, which uses AI to speed up construction of mega-projects like data centers and chip factories, raised $130M at a near-$1B valuation (Marissa Newman/Bloomberg)
• President Trump expresses support for Flock "because of law enforcement", while acknowledging some people consider the surveillance technology "an infringement" (Aoife Walsh/Washington Post)
• Paris-based digital asset data provider Kaiko extends a funding round to $110M led by S&P Global to support 24/7 continuous market data and asset tokenization (Anna Irrera/Bloomberg)
• 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)
• 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)
• China's Foreign Ministry criticizes warnings about AI risks, saying "fearmongering, confrontation, and vicious competition ... serve the interests of no one" (Bloomberg)
• 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)
• 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)
• 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)
• 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)
• 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)
• 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)
• 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%+ (Reuters)
• 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)
• 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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