Here are the most important things we know in a nutshell:
Name:
Google August 2023 Broad Core Update
Launch Date
August 22, 2023, approximately 1:30 PM ET
Rollout Time
It will take about one to two weeks to roll out.
Target
It looks at all types of content.
Penalties
It is not a Penalties, It Promotes or rewards or great web page.
Global
This is a global update that affects all regions, all languages.
Impact
Google didn't tell me what percentage of queries or searches were affected by this update, but so far, it appears to be a common core update that reaches wide and has an impact quickly.