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Apollo Global Management confirms cloud data breach

Apollo Global Management confirmed a data breach in which hackers accessed the firm’s cloud environment and stole large amounts of personal information. In a letter filed with California’s attorney general, Apollo’s human resources chief Matthew Breitfelder said attackers used a social engineering scheme to gain access between July 6 and July 10 and took names, birth dates, contact information including home addresses, and Social Security numbers. The letter does not specify whose records were taken. The incident is part of a wider extortion campaign that security researchers — including teams at Google — say has targeted private equity and financial firms. Apollo has about $938 billion in assets under management and roughly 5,000 employees as of February 2026.

Baidu's Chip Unit Could Exceed Parent's Value

Baidu's AI chip subsidiary Kunlunxin is reportedly targeting a dual listing in Shanghai and Hong Kong with a $50bn valuation. Baidu owns about 58% of Kunlunxin; at that target valuation the stake would be worth roughly 93% of Baidu's market capitalization (~$31bn after an August 18 close). The piece contrasts Kunlunxin's proposed IPO valuation with Baidu's Q2 financials — a 68% drop in net income to Rmb 2.3bn, rising capex (Rmb 11.4bn in Q2; Rmb 17.3bn H1), and increased borrowing — and highlights unresolved questions about how much Kunlunxin contributes to Baidu’s cloud and how much of Kunlunxin’s revenue comes from Baidu.

Cognition CEO Denies SpaceX Acquisition Attempt

Bloomberg reported that SpaceX attempted to acquire AI coding startup Cognition as it races to catch up with OpenAI, Anthropic, and Google. Cognition CEO Scott Wu disputed the report on X, saying the company "is not for sale" and that the two companies have not been in talks. The article situates the claim amid SpaceX’s recent AI moves — including its acquisition of Cursor, ownership of xAI, a blockbuster IPO, and ambitions to sell space-based compute — and notes Cognition’s recent $1 billion raise at a $25 billion valuation and reported early-stage talks for funding at a $40 billion valuation.