Business
Hacked Suno Source Code Reveals AI Music Startup Scraped YouTube and Deezer, Bolstering Labels’ Case
Hacked source code from AI music company Suno lists YouTube Music, Deezer and Genius among the platforms it scraped to build its artificial intelligence models, according to a report published Wednesday by 404 Media, adding new detail to allegations at the center of an ongoing copyright lawsuit brought by two of the world’s largest record labels.
The code was obtained by a hacker who breached Suno’s systems and shared the material with the publication. According to the report, the same hacker also accessed information on hundreds of thousands of Suno customers, including email addresses, phone numbers and Stripe payment details tied to their accounts.
The hacked material corroborates allegations made by Universal Music Group and Sony Music Entertainment, who are suing Suno for copyright infringement in a case coordinated by the Recording Industry Association of America. Suno has already acknowledged in a court filing that its training data was drawn from music available across the open internet, and the company has argued that training its AI models on copyrighted material qualifies as protected fair use under copyright law. In that filing, Suno described its training data as encompassing nearly all music files of reasonable quality accessible on the open internet, while claiming it respected paywalls and password protections in the process.
According to 404 Media, the hacked code names the specific sources Suno drew from and logs the volume of material collected from each. Internal comments in one file referenced pulling from platforms including Genius, YouTube Music, Freesound, Jamendo and Deezer, with a note indicating that non-music content would be filtered out of the resulting dataset. A file labeled “youtube_music” recorded that the system had ingested more than 2 million individual music clips.
The scale of material logged in the code was substantial. According to the report, Suno’s datasets included more than 113,000 hours of audio logged under the YouTube Music label, plus an additional 152,000 hours logged separately as tagged YouTube Music content. The code also referenced more than 62,000 hours pulled from the stock media library Pond5, nearly 19,500 hours from the International Music Score Library Project, more than 17,600 hours from Genius, and over 12,000 hours from Deezer. In total, 404 Media reported the material amounted to at least several decades’ worth of audio.
Other portions of the code reviewed by 404 Media showed Suno searching specifically for a cappella versions of songs on YouTube, an approach the publication said appeared designed to help isolate vocal tracks for training purposes. The code also indicated Suno used proxy infrastructure from a company called Bright Data to carry out the scraping of YouTube content, and separately used a service called PodcastIndex to compile roughly 420,000 podcasts, each with a minimum of five half-hour episodes, in an apparent effort to download close to a million hours of spoken-word audio. The publication said it remained unclear from the files exactly how Suno had gathered material from some of the other platforms named in the code.
The revelations add specificity to claims already at the heart of the record industry’s lawsuit. In an amended complaint filed in September 2025, the RIAA accused Suno of stream-ripping recordings directly from YouTube and circumventing the platform’s rolling cipher encryption, a technical safeguard designed to prevent unauthorized downloading of streamed content. According to 404 Media, the hacked data appears to confirm that specific allegation. The labels have argued that circumventing YouTube’s protective measures constitutes a separate violation of the anti-circumvention provisions of the Copyright Act, distinct from Suno’s fair-use defense, which applies specifically to the act of copying the material itself rather than to bypassing the platform’s access controls.
The financial stakes in the case are considerable. The labels are seeking statutory damages of up to $150,000 per infringed work, in addition to penalties of up to $2,500 for each act of circumvention. In May, Universal Music Group and Sony asked the court to expand the scope of the case from 560 identified works to more than 61,000 works the labels say they identified within Suno’s training data through audio fingerprinting technology, a change that would raise the theoretical maximum in statutory damages from roughly $84 million to more than $9 billion. The presiding judge has not yet ruled on that request.
In response to the report, a Suno spokesperson told 404 Media that the company’s AI models had been trained on publicly available music files and related metadata accessible through third-party websites on the open internet. The spokesperson said Suno determined in November 2025 that it had experienced what it described as a limited security incident that was quickly contained, and that an internal investigation found the exposure primarily involved outdated source code no longer in active use at the company. The spokesperson added that no sensitive personal information had been compromised and that Suno does not have access to customers’ full credit card numbers through its payment processor, Stripe. The company said it had determined that individual breach notifications were not required under applicable privacy laws, and that it had separately filed a training-data disclosure mandated under California law.
The hacker, who identified themselves to 404 Media using the name ellie.191, said they gained access by targeting a Suno employee with a supply-chain worm known as Shai-Hulud, which is designed to harvest credentials for GitHub and other cloud-service accounts. The hacker told the publication they had no specific motivation behind the breach, saying only that they enjoy hacking a wide range of targets.
The case against Suno has drawn in other parties beyond Universal and Sony. Jamendo, a Luxembourg-based music licensing platform named in the hacked code, filed its own copyright infringement claim against Suno on June 29 in the same Massachusetts court, alleging the company trained on a roughly 55,600-track dataset that was licensed only for non-commercial academic use, without securing a commercial license. Jamendo is seeking at least €17.8 million, or roughly $20 million, in damages. Warner Music Group, originally a co-plaintiff in the broader industry lawsuit, exited the case after reaching a settlement with Suno in November 2025 that included a licensing partnership and Suno’s acquisition of the concert-discovery platform Songkick.
Suno, which raised more than $400 million in funding in June, has said it builds its AI models around a philosophy the company calls “Original Creation, By Design” and does not use artist names as a category of training metadata. A company spokesperson said Suno believes artists deserve both new opportunities and strong protections. The case remains ongoing as the court weighs the labels’ request to significantly expand the scope of works at issue in the lawsuit.
Business
This Week’s Market Wrap: AI Shakeup, Earnings, And Renewed Oil Shock
Cited by Barron’s as one of the top financial websites to visit on the weekend, Financial Sense (www.financialsense.com) provides educational resources to the broad public audience through a daily podcast, editorials, current news and resource links on salient financial market issues. Begun in 1985 as a local talk radio program, Financial Sense Newshour (www.financialsense.com/financial-sense-newshour) is a weekly webcast with host Jim Puplava and top financial thinkers. Writing staff of Financial Sense includes: Jim Puplava, Chris Puplava, Ryan Puplava, and Cris Sheridan.
Business
JSW Steel’s Q1 profit soars 2x YoY on robust topline growth
The country’s largest producer of steel reported its earnings during market hours on Friday, and its shares climbed 1.4% on the BSE at 1,238.35. While higher compared to the previous year, the bottomline was 75% lower sequentially as the March quarter benefited from one-time gains of 17,888 crore.
Consolidated revenue from operations for the June quarter rose around 10% on year to 47,364 crore; the year-on-year revenue growth stood at 19% on a proforma basis after adjusting the sales of Bhushan Power in the comparable quarter. The entity was de-consolidated from JSW Steel from March earlier this year.
Revenue growth for the steelmaker was boosted by a combination of higher steel prices and a 4% growth in consolidated sales volumes to 6.25 million tonne for the quarter.
Total expenses for the quarter rose less than 4% on year to 41,830 crore—relatively lower than the revenue growth for the period—helped by a near 23% drop in finance costs to 1,712 crore. JSW Steel’s consolidated net debt is down to 46,157 crore at the end of June from 53,870 crore a quarter ago.
Net debt to equity ratio at the end of the quarter stood at 0.42 times, down from 0.51 times at the end of the March quarter, while the net debt to Ebitda ratio stood at 1.46 times, down from 1.81 times.
The revenue growth and relatively lower growth in expenses boosted the consolidated earnings before interest, tax, depreciation and amortisation for the company, which rose 38% on year to 9,383 crore. The Ebitda made on each tonne of steel rose 23% on year to 14,990 during the quarter.
Business
Soccer-Trump back in World Cup spotlight after starring role in tournament’s controversies

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Business
IPO calendar: 5 IPOs opening for subscription to keep investors busy; SBI Funds among 4 listings scheduled
The week comes after strong demand in the IPO market in the week gone by, led by SBI Funds Management. The Rs 9,813 crore IPO of India’s largest mutual fund house was subscribed over 40 times and drew demand of nearly Rs 2.98 lakh crore. Its grey market premium hovered around 16%, suggesting a positive listing expectation.
Xtranet Technologies IPO
Xtranet Technologies will open its Rs 166.8 crore mainboard IPO for subscription on July 23. The issue will close on July 27. The company has fixed a price band of Rs 120-127 per share. The IPO is entirely a fresh issue of 1.31 crore shares. There is no offer for sale. The shares are proposed to be listed on BSE and NSE, with a tentative listing date of July 30.
The lot size is 110 shares. At the upper price band, retail investors will need to invest Rs 13,970 for one lot.
Share India Capital Services is the book-running lead manager, while KFin Technologies is the registrar.
Incorporated in 2002, Xtranet Technologies is an integrated IT solutions provider. The company offers enterprise applications, digital transformation, managed services, proprietary platforms and strategic technology partnerships.
RIL Q1 Takeaways: What Mukesh Ambani said on Jio IPO and how Reliance Consumer doubled revenue
The company plans to use IPO proceeds for debt repayment, purchase and installation of systems and hardware, working capital requirements and general corporate purposes. It has earmarked Rs 21.99 crore for repayment or prepayment of borrowings, Rs 7.30 crore for capital expenditure and Rs 102 crore for working capital.
Cube Highways Trust InvIT IPO
Cube Highways Trust InvIT will also open next week. The mainboard issue will open on July 22 and close on July 24. The IPO size is Rs 5,000 crore. The issue is a book-building offer and will list on BSE and NSE. Kotak Mahindra Capital is the lead manager to the issue.
The Cube Highways Trust InvIT issue will be watched closely because infrastructure investment trusts give investors exposure to operating infrastructure assets. InvITs are generally tracked by long-term investors looking for cash-flow visibility, yield and exposure to roads and infrastructure.
SME IPOs next week
Apart from the two mainboard issues, the SME market will also see activity. Shree Balaji Mala Textiles will open its BSE SME IPO on July 22 and close on July 24. The price band is Rs 66-70 per share and the issue size is Rs 18.90 crore.
Metalic Technoforge will open its NSE SME issue on July 21 and close on July 23. The price band is Rs 72-77 and the issue size is Rs 49.96 crore.
Gulf Lloyds India will open its BSE SME fixed-price issue on July 20 and close on July 22. The issue price is Rs 100 per share and the issue size is Rs 18.19 crore.
Four listings to watch
The listing calendar will also be busy next week. SBI Funds Management will be the biggest listing to track after its public issue saw strong institutional and retail demand. The IPO was subscribed over 40 times, with QIB demand crossing 140 times. Its GMP is around 16%.
Millworks Technologies will also be watched closely because of its grey market premium of more than 100%, which signals strong listing expectations. However, grey market trends are unofficial and can change before listing.
Alpine Texworld is another scheduled listing, but its GMP is at 0%, suggesting muted listing expectations for now. The fourth listing of Sotefin Bharat will also be tracked by investors as the market tests appetite across mainboard and SME names after a strong run in recent offerings.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Business
Philadelphia Fed Manufacturing Index Jumps To Highest Level Since 2021
Lemon_tm/iStock via Getty Images

Originally published on July 16, 2026
By Jennifer Nash
The Philadelphia Fed manufacturing index showed activity expanded significantly in July, with the index jumping 31.1 points to 41.4. This marks the highest level for the index since
Business
U.S. IPO Weekly Recap: Csquare And Standard Nuclear Both Underwhelm Amid Cautious Market
Renaissance Capital provides pre-IPO research to institutional investors and investment banks. The Firm manages two IPO-focused funds: The Renaissance IPO ETF (NYSE: IPO) and the Renaissance International IPO ETF (NYSE: IPOS). Individual investors can get a free overview of the IPO market on www.renaissancecapital.com, and try a free trial of our premium platform, IPO Pro (ipopro.renaissancecapital.com). Through Renaissance Capital’s pre-IPO research service, institutional investors get an independent opinion, in-depth fundamental analysis, and customizable financial models on all IPOs.
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A Long Way Still Ahead For The U.S.'S Disinflation Journey
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Iran renews attacks on Gulf states after another night of US strikes

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