Top stories today:

1. Palantir Q2 revenue +48% YoY to $1.0B on “astonishing” AI impact
2. Bullish, CoinDesk owner, seeks up to $629M in IPO
3. Tesla grants Elon $23.7B stock award to ensure focus
4. Perplexity accused by Cloudflare of stealth crawling
5. ChatGPT adds break reminders amid mental health concerns

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Palantir Q2 revenue +48% YoY to $1.0B on “astonishing” AI impact

• The revenue beat analysts’ average estimate of $939M.

• +68% in U.S. sales to $733M.

  • +53% in U.S. government revenue to $426M.

  • +93% in revenue from commercial contracts in the U.S. to $306M.

• Planned to be the “dominant software company of the future,” CEO Alex Karp said.

• $4.14B-$4.15B in revenue outlook for the full year, exceeding analysts’ prior expectations of $3.91B.

• +5% in Palantir’s shares in pre-market trading after closing at $160.66 on Mon.

• +577% in Palantir’s stock price over the past year on growing demand for AI tools.

2. Bullish, CoinDesk owner, seeks up to $629M in IPO

• At $28-$31 each, 20.3M Bullish shares to be marketed.

• Market value of ~$4.2B based on the outstanding shares listed in the filing.

• BlackRock and ARK Investment are interested in buying as much as $200M of shares in aggregate at the IPO price.

• Aug. 12: the shares are expected to price.

• $348.6M of net loss on digital-asset sales of $80.2M in the quarter ending Mar. 31, vs. $104.8M net income on $80.4M sales a year ago.

• JPMorgan Chase, Jefferies Financial, and Citigroup are leading the offering.

4. Tesla grants Elon $23.7B stock award to ensure focus