tiMicro
Pro: Profit on Treasurys
6 h ago
Surging Treasury yields near 5% create both volatility and income opportunities for investors, as the Federal Reserve's upcoming rate decision and persistent inflation keep bond markets on edge. The benchmark 10-year Treasury touched 5% on Monday, a high not seen since October 2023, before easing to around 4.96%. Bond yields move inversely to prices, and Wells Fargo Investment Institute's Luis Alvarado warns of continued knee-jerk reactions to economic data, the Fed, and oil. The market prices 90% odds of a rate hike at the Fed's two-day policy meeting ending Wednesday, with the latest CPI showing 3.4% annual inflation, above the Fed's 2% target. Experts advise avoiding long-duration bonds due to interest rate sensitivity. BondBloxx's JoAnne Bianco recommends short- to intermediate-term bonds, including BBB-rated corporates, high yield, and emerging market debt. Schwab's Collin Martin suggests staying below six years duration, noting the Schwab 1-5 Year Corporate Bond ETF offers a 4.95% SEC yield. For floating rate exposure, the Janus Henderson AAA CLO ETF yields 4.63%. Wells Fargo advocates a diversified fixed-income approach favoring investment-grade corporates, municipal bonds (iShares National Muni Bond ETF yields 3.73%), high yield, and dollar-denominated emerging market debt. Outside fixed income, dividend stocks and REITs present opportunities. Gilman Hill Asset Management's Jenny Harrington argues that dividend stocks offer inflation-beating growth, unlike bonds, and trade at muted valuations. Real estate investment trusts and infrastructure funds are also recommended, though REITs typically underperform when rates rise.
Salesforce and Nvidia’s new reasoning model is everything the AI labs should fear
6 h ago
Salesforce unveiled Koa, its first AI reasoning model built on Nvidia’s open-weight Nemotron, at Dreamforce this week, marking a major enterprise AI shift toward task-specific, cost-efficient models that keep customer data secure. Koa is post-trained by Salesforce and Nvidia to excel in sales, marketing, and customer-support tasks, offering enterprises an open-weight alternative to closed frontier models like Claude or ChatGPT. Unlike proprietary AI labs that ingest customer data, Koa uses only synthetic data mimicking customer patterns, ensuring no actual customer data leaks. It also reduces token consumption—and thus AI spending—by routing simpler tasks through an AI gateway, reserving frontier models only for complex reasoning. “We’ve built many small task-specific language models… but reasoning has always been something we relied on frontier model providers for. Until now,” said Jayesh Govindarajan, EVP of Salesforce AI. Before Koa, multi-step reasoning prompts were sent to Claude or ChatGPT via Agentforce’s AI gateway. The choice of Nemotron was driven by its sovereign American provenance, state-of-the-art performance, and clear data lineage—contrasting with Chinese open-weight models like Alibaba’s Qwen. Nvidia’s VP of Generative AI Software, Kari Ann Briski, highlighted Nemotron’s “token efficient” architecture for enterprise inference. Salesforce is not abandoning Anthropic or OpenAI; it also announced Claudeforce, a partnership allowing companies to use Claude as their AI interface while data remains in Salesforce’s secure system. Koa will be offered as an alternative within Agentforce, Salesforce’s platform for building customer-service and scheduling agents.
Other World Computing Announced Acquisition of OpenDrives, Expanding Software-Defined Video and Rich Media Storage Management Capabilities
6 h ago
Kioxia Corp. and Sandisk Corp. announced a planned investment of over $31 billion (approximately 5 trillion yen) through 2032 to expand NAND flash memory production in Japan, contingent on government support, reinforcing their decades-long joint venture to meet surging AI and data-driven demand. The investment, which builds on more than $50 billion (9 trillion yen) already invested in Japan over the past 25 years, will fund infrastructure buildout at the Yokkaichi and Kitakami plants, along with related technology. Both companies committed to multi-year bit growth and stable supply of innovative flash memory, essential for AI-driven societies. “This joint investment further strengthens our longstanding partnership with Sandisk and underscores Kioxia’s strong commitment to contributing to the advancement of an AI-driven society,” said Hiroo Ota, president and CEO of Kioxia. David Goeckeler, chairman and CEO of Sandisk, noted the investments align with business strategy and financial guidance, ensuring support for customer demands while exemplifying US-Japan economic collaboration. The plan aligns with Japan’s economic policy goals under the Takaichi administration, supporting advanced semiconductor manufacturing. In January, Kioxia and Sandisk extended their joint venture framework at the Yokkaichi Plant through December 2034. The partnership, spanning over 25 years, collaborates on development and manufacturing of flash-based memory wafers, leveraging AI-enabled smart manufacturing to ensure stable production of advanced 3D flash memory.
Nvidia CEO Jensen Huang tells Trump ‘we’re not going to let [an AI slowdown] happen’
14 h ago
Nvidia CEO Jensen Huang received an unexpected call from President Donald Trump during the All-In Summit in Los Angeles on Monday, where the two discussed AI regulation and growing opposition to data center construction, highlighting a key divergence in tech industry views on AI development pace. Huang, onstage with venture capitalists Chamath Palihapitiya, Jason Calacanis, and White House advisers David Friedberg and David Sacks, put Trump on speaker for the audience after requesting an extra microphone. Trump criticized calls by Anthropic CEO Dario Amodei, Elon Musk, and Sam Altman to slow AI capability improvements, calling the sentiment a "hoax" that could be exploited by political opponents or China. "We're not going to let that happen," Trump said, to which Huang replied, "You're right. We're not going to let that happen, sir," drawing applause. Trump and allies like Y Combinator CEO Garry Tan view opposition to data center construction as an international psyop to stifle U.S. economic growth. However, recent Gallup polling reveals seven in 10 Americans oppose local data centers, with over 50% citing environmental resource concerns and about 20% worried about cost-of-living increases and quality-of-life impacts. Trump acknowledged the need for prudence but affirmed support for the industry: "We have to be a little bit careful… but that doesn't mean we're going to stop an industry… I'm with you all the way." The exchange underscores the ongoing debate between AI safety advocates and industry leaders pushing for rapid expansion, with Nvidia's chip business directly tied to data center demand and AI infrastructure growth.
Stock futures are little changed as traders eye rising oil prices and rates
22 h ago
Stock futures hovered near flat Monday evening as traders focused on the Federal Reserve's policy decision later this week, while a sell-off in artificial intelligence stocks and rising Treasury yields and oil prices weighed on market sentiment. S&P 500 futures edged up 0.05%, Dow Jones Industrial Average futures gained 21 points (0.04%), and Nasdaq 100 futures advanced 0.03%. In regular trading, the Dow fell 152 points (0.3%), the S&P 500 lost 0.5%, and the Nasdaq Composite slipped about 0.6%. Asia-Pacific markets also declined early Tuesday, with Japan's Nikkei 225 down 0.25%, South Korea's Kospi falling 0.43%, and Australia's S&P/ASX 200 losing 0.46%. AI-related stocks dragged the market lower after Anthropic CEO Dario Amodei called for a slower pace of AI development and OpenAI CEO Sam Altman ruled out an IPO this year, citing growing safety concerns. Nvidia dropped 3%, Corning tumbled 13%, and the iShares AI Innovation and Tech Active ETF (BAI) fell nearly 4%. Higher Treasury yields added pressure, with the 10-year yield briefly topping 5%, its highest since October 2023. Oil prices rose after Saudi Arabia shut a key pipeline bypassing the Strait of Hormuz, pushing Brent crude above $105 a barrel and West Texas Intermediate over $101. Traders now await the Fed's rate decision Wednesday. Fed funds futures imply a 92% probability of a quarter-point rate hike to a target range upper bound of 4.0%. "We expect the Fed to raise its policy rate to 4.0% at this meeting," said Christopher Hodge, chief U.S. economist at Natixis CIB Americas, adding that Chairman Kevin Warsh will likely emphasize the decision is discrete and does not pre-commit future actions.
Stock futures fall as investors weigh AI safety concerns, oil gains
1 d ago
Stock futures fell Sunday night as investors monitored a major shakeup in the pipeline for artificial intelligence initial public offerings amid growing safety concerns, along with the latest oil moves. Dow Jones Industrial Average futures slid 179 points, or 0.4%. S&P 500 futures lost 0.6%, while Nasdaq-100 futures tumbled 1.2%. OpenAI CEO Sam Altman said in an interview published on Saturday that the AI startup would not go public this year, calling an IPO for the ChatGPT maker "ill-advised" just one month after CFO Sarah Friar said it would go public by 2027 at the latest. Dario Amodei, CEO of rival Anthropic, said in an essay on Saturday that AI companies need to slow the pace of innovation for their best models due to safety risks, telling CBS News on Sunday the "toughest dilemma" is what would happen if China did not do the same. The AI boom has propelled the stock market to new heights and catalyzed a massive wave of corporate spending on technological infrastructure, but this weekend's developments could indicate that the positive impact expected through increased efficiency and major IPOs may be less clear than previously believed. Oil prices rose more than 2% Sunday night after Saudi Arabia shuttered a key pipeline that bypasses the Strait of Hormuz. U.S. crude prices broke above $100 per barrel last week for the first time since May amid an escalation of conflict in the Middle East. Last week's rally in oil prices dragged on the three major stock averages, with the Dow sliding 1.6% for its biggest weekly loss since March, and the S&P 500 and Nasdaq Composite shedding about 0.8% and 0.7%, respectively. The Federal Reserve gathers for its September policy meeting this week, with Fed funds futures traders pricing in a roughly 86% likelihood of a rate hike, according to CME's FedWatch tool. "The investor playbook from here depends on whether Fed hikes or long rates are the dominant driver of today's tighter rates environment," said Julia Hermann, global market strategist at New York Life Investment Management. There are no major earnings reports or economic releases expected on Monday.
The 9 buzziest startups from Y Combinator’s latest Demo Day, according to VCs
1 d ago
Y Combinator's latest Demo Day showcased a pronounced shift toward deep tech, with startups tackling nuclear-powered data centers, custom AI chips, and advanced robotics, according to early-stage VCs polled by TechCrunch. The batch featured more grounded valuations than recent cohorts, but the technology felt "like science fiction" to investors. Key startups flagged by multiple investors include **Atomarine**, which plans floating nuclear-powered data centers on barges to solve compute shortages, claiming over $4 billion in customer interest via letters of intent. **Dipole Labs** built an energy-efficient optical switch for AI data centers that eliminates power-hungry light-to-electricity conversions, addressing GPU cluster idle time. **Isengard Industries** mass-produces jet-powered attack and counter-drones within allied countries, already generating $10 million in revenue and commanding one of the batch's highest valuations. **Lamb Labs** hardcodes AI model weights into silicon with its "Model Processing Units" (MPUs) to eliminate memory-bandwidth bottlenecks during inference. **Praxis AI** collects real-world human work videos to train robots, already operating in 150+ environments. **Nori** sells a $1,600 humanoid robot for household tasks, racking up nearly $500,000 in sales six weeks after launch. **Cosmic Robotics** deploys autonomous heavy-lifting robots for solar panel installation, with $25 million in contracts through 2027, aiming to automate Mars construction. **Parasma** trains human brain cells as energy-efficient AI compute hardware. **Waddle Labs** offers an API layer using LLM agents to write robot control code, positioning itself as "Claude Code for robotics" with a 20-minute setup time.
Pro: Fed hike ahead?
2 d ago
Federal Reserve Chairman Kevin Warsh is expected to deliver a quarter-point rate hike at next week's policy meeting after August CPI data showed annual inflation at 3.4%, still well above the 2% target, reinforcing the central bank's commitment to tightening as stocks rallied in response. The core news point for readers tracking Fed policy, inflation, and market impact is that Warsh's credibility hinges on acting against persistent pricing pressures, with oil prices surging above $100 per barrel and the 10-year Treasury yield hovering near 5%. The August consumer price index reading, released Friday, failed to ease inflation fears, prompting an immediate stock market rally that signaled investor support for a hike. Warsh had previously warned at the Jackson Hole symposium in late August that the Fed must be confident inflation is moving toward its objective "clearly and at sufficient speed," or else "we have work to do." Gabelli Growth Fund portfolio manager John Belton noted that Warsh has set himself up such that he loses credibility if he doesn't hike in the face of concerning data. Oil prices have surged above $100 per barrel this week amid heightened U.S.-Iran hostilities, cementing expectations of prolonged conflict and driving yields higher. The 10-year Treasury yield briefly touched 5% on Friday before pulling back, remaining above 4.9%. Fed funds futures now show nearly a 50% likelihood that rates will reach 4%–4.25% by December, implying two quarter-point hikes from the current 3.5%–3.75% range. Belton believes stocks, especially AI names with strong fundamentals, could continue to work in that environment, but a series of hikes over six to nine months could make the overnight lending rate "meaningfully higher." He emphasized that establishing Fed credibility matters more than any single hike or hold. The week ahead includes key data releases and the FOMC meeting on Wednesday with economic projections.
SemiWiki CEO Interview with Dr. Nissan Maskil of Qarakal Quantum
2 d ago
Samsung's unique dual identity as both a consumer electronics giant and a hidden semiconductor supply chain powerhouse makes it the most unusual company on earth, according to an analysis that explores its chaebol structure, market dominance in memory chips, and deep integration across industries. Unlike Apple, Toyota, or Shell, Samsung operates across smartphones, televisions, refrigerators, ships, skyscrapers, insurance, and hospital equipment—forming a commercial ecosystem that touches every stage of modern life. At the center lies its semiconductor business: Samsung is not just a chip user for its Galaxy phones and appliances but a major producer of memory chips, processors, and image sensors sold to rivals. This allows Samsung to design phones while supplying components to competitors, creating a dual role as both consumer brand and hidden industrial machinery. The company's structure reflects South Korea's chaebol system—family-influenced business groups with legally separate affiliates connected through history and strategy. Samsung's rise paralleled South Korea's transformation from a war-damaged country to an export powerhouse, moving from groceries to textiles, electronics, heavy industry, finance, and advanced technology. Semiconductors became strategically vital due to their combination of expertise, manufacturing scale, and global demand. However, Samsung's breadth creates risks: semiconductor manufacturing is cyclical, fab costs billions, and family leadership can conflict with shareholder interests. Scandals and governance questions accompany engineering triumphs. Ultimately, Samsung's logo may be absent from many devices, but its chips or displays are often inside—making it less a product seller than a foundation builder for industries worldwide.
Revolut confirms customer data breach through fake government requests
3 d ago
**Revolut data breach: Fintech exposed customer IDs, passports, and selfies after fraudulent requests from legitimate government email domain** British fintech Revolut confirmed it disclosed sensitive customer information—including identity documents, birth dates, addresses, phone numbers, and verification selfies—to an unauthorized third party after receiving fraudulent requests sent from a legitimate government agency email domain. The breach, detailed in a notification to affected customers reviewed by TechCrunch, also may have exposed account statements and transaction histories. A Revolut spokesperson said a "limited" number of customers were impacted and that the company contacted them directly, but did not disclose the exact number, the specific market affected, or the government agency involved. Revolut blocked the email address upon discovery, alerted the relevant agency, law enforcement, and regulators, and stated that "Revolut systems and customer funds are unaffected." Crypto security researcher ZachXBT posted about the incident late Friday, noting it appeared targeted at high net worth users. The London-based fintech, which has over 80 million customers globally and operates as a bank in more than 30 countries, recently expanded into India, Mexico, France, and the UAE. Earlier this month, the U.S. Office of the Comptroller of the Currency granted conditional approval for Revolut to establish a national bank, expected to launch in the first half of 2027. The incident comes as Revolut reportedly weighs a potential public listing that could value it at up to $200 billion, up from its $75 billion private valuation in November. The fintech has also secured banking licenses in France and the UK in recent months.
OpenAI’s feud with mathematicians is only escalating
3 d ago
**Twenty-five Fields Medal-winning mathematicians signed an open letter warning that AI labs are threatening intellectual work by racing to solve famous problems without proper attribution or verification.** The letter, reported this week, follows NYU professor Tristan Buckmaster accusing OpenAI of pressuring him to not credit a collaborator from Anthropic for solving an important math problem, and questioning whether OpenAI used their Codex work to produce its own proof over a marathon weekend. OpenAI subsequently withdrew sponsorship of a CalTech math event after researcher criticism. The signatories argue that while AI solving outstanding challenges could benefit humanity, rushed announcements leave no time for writeups, isolating new methods, or citing prior work—raising severe attribution and plagiarism questions. They warn that without mathematicians integrating AI-conceived ideas into the mathematical canon, the human transmission chain is lost. The letter follows the June Leiden Declaration, which offered recommendations for mathematicians, institutions, and policymakers grappling with LLM proofs. The mathematicians stress that the value of math lies not just in proofs and credit, but in the intellectual superstructure that nourishes students and integrates ideas into civilization. They caution that the issues facing mathematics—attribution, secrecy, and the threat to open research culture—are issues all scientific and creative professions will soon face. As frontier labs spend tens of millions using LLMs to beat original researchers to proofs, the dynamic incentivizes secrecy and paranoia among mathematicians. The letter concludes: "We must not lose sight of what that work was meant to achieve in the first place."
CVD Equipment no longer pursuing new system orders
3 d ago
**CVD Equipment Restructures, Halts New System Orders, and Replaces CEO Amid Semiconductor Equipment Market Weakness** CVD Equipment Corp (CVDE), a designer and manufacturer of chemical vapor deposition (CVD), thermal processing, and gas delivery systems for the semiconductor and materials industries, has announced a major restructuring plan and leadership transition, effective September 2026, as it discontinues pursuit of new system orders for its CVD equipment business. The Central Islip, NY-based company will reduce its workforce by approximately half to a level sufficient to complete its remaining equipment backlog, satisfy warranty obligations, and support its ongoing spare parts, quartz, and services business. CVD expects to record a restructuring charge of $0.8–1.0 million in the current quarter, primarily for employee severance and related costs. Effective September 3, the board and president & CEO Emmanuel Lakios mutually agreed to end his employment and board membership. The board appointed Warren Cheesman, VP of manufacturing operations, as acting CEO. Cheesman brings over 30 years of engineering and operations experience from Veeco Instruments, Air Techniques, and Kongsberg Defense & Aerospace. Chairman Lawrence J. Waldman stated that continued weakness in prospective equipment orders, declining backlog, ongoing operating losses, and a lack of viable strategic alternatives drove the decision to transition CVD to a spare parts, quartz, and services business. The board continues evaluating cost reductions, asset monetization, and shareholder value enhancement, including potential alternatives for its real-estate assets, particularly its primary facility in Central Islip. As of the end of Q2 2026, CVD held $23.5 million in cash with no debt. Acting CEO Cheesman emphasized disciplined execution, prudent asset management, and fulfilling existing customer commitments during this transition.
Pro: AI boom ending?
4 d ago
Capital Economics warns that while the S&P 500's rally may continue this year, its medium-term outlook is poor as multiple equity market bubble indicators suggest the AI-driven boom is nearing an end, according to senior market economist James Reilly. In a Thursday note, the firm—which has been bullish on stocks since mid-2023 due to AI's transformative potential—maintains its year-end 2026 S&P 500 forecast above consensus but cautions that the rally is a bubble that will eventually burst. Reilly tracks eight indicators including valuations, earnings, index concentration, equity issuance, and foreign interest in U.S. stocks. Several measures already approach levels seen at previous market peaks. Earnings stand out as the biggest warning sign: S&P 500 earnings growth expectations are near dot-com bubble extremes, and long-term EPS growth forecasts have hit a record high. The heavy concentration of this expected growth in tech means any weakness in tech earnings will weigh heavily on the index. Index concentration is around dot-com-era extremes, net equity issuance has turned positive, and foreign ownership of U.S. stocks is at a record high. Reilly notes that another wave of IPOs and share sales could be particularly significant, as similar issuance booms historically coincided with market peaks. "On past form, this suggests the end of the bubble is just months away, rather than years," he said. Leverage measures are not yet alarming but heading in a concerning direction, while volatility metrics look consistent with a mid-stage bubble. Capital Economics forecasts the S&P 500 will rally from around 7,650 now to 8,250 by end-2026, then fall to 6,500 by end-2027—implying 8% upside this year and a 21% slide in 2027.
Midsummer to form JV with Indonesia’s Metalogika
4 d ago
Swedish solar technology firm Midsummer AB and Indonesian industrial company PT Metalogika Rekayasa Sistem have signed a binding framework agreement to form a joint venture for manufacturing lightweight, flexible copper indium gallium diselenide (CIGS) thin-film solar cells and photovoltaic modules in Indonesia, starting with a 20MW annual production capacity and a roadmap to scale toward 200MW and eventually gigawatt levels. The initial 20MW facility will use Midsummer’s proprietary DUO system and related equipment, with the joint venture handling procurement after incorporation and securing Indonesian investment and import approvals. Midsummer will supply manufacturing equipment and services while holding a minority stake. Following commissioning, the partners plan to evaluate expansion to 200MW annually, with longer-term potential for gigawatt-scale production, subject to market demand, financing, and operational performance. Midsummer CEO Eric Jaremalm called the deal “another validation of Midsummer’s technology and strategy to offer partners a complete industrial manufacturing platform.” PT Metalogika president director Firrisky Nurtomo emphasized the goal of building advanced solar manufacturing in Indonesia to support energy independence, noting alignment with President Prabowo Subianto’s recently launched US$73 billion program to build 100GWp of solar capacity and electrify 80,000 rural areas. Indonesia, the largest economy in Southeast Asia with a GDP exceeding US$1.4 trillion, currently relies on fossil fuels for about 82% of its power generation. Its equatorial location offers massive solar potential, with high daily solar radiation averages. The joint venture aims to initially serve the Indonesian market and progressively support Southeast Asian demand, positioning Indonesia as a key manufacturing node in Midsummer’s distributed production ecosystem.
Stock futures are little changed as key consumer inflation report looms ahead
4 d ago
**Stock Futures Flat as Traders Await August CPI Report; Fed Rate Decision Hinges on Inflation Data** Stock futures were little changed Thursday night as traders looked ahead to August's consumer price index (CPI) report, a pivotal data point that will factor into the Federal Reserve's Sept. 16 interest rate decision. S&P 500 futures edged marginally higher, Dow Jones Industrial Average futures slipped 11 points, and Nasdaq 100 futures rose less than 0.1%. In regular trading Thursday, the Dow fell over 300 points (0.6%), the S&P 500 lost 0.6%, and the Nasdaq Composite slipped 0.7%, marking the fourth straight losing day for the three major averages. Week to date, the Dow is on pace for a 2.5% decline, while the S&P 500 and Nasdaq are heading for 1.6% losses. Asia-Pacific markets fell in early trade Friday, with South Korea's Kospi shedding 2.7% and Japan's Nikkei 225 losing 2.6%. Australia's S&P/ASX 200 was 1% lower. Stocks were weighed down by surging oil prices, as West Texas Intermediate crude futures jumped over $100 per barrel, and both U.S. oil and international Brent crude posted their highest settlement prices since May 19 amid the ongoing U.S.-Iran conflict. The 10-year note yield topped 4.95%, hitting the highest level since October 2023. Traders also weighed August's producer price index (PPI), which rose 0.4% month-over-month and 5.4% annually. All eyes are now on the August CPI report due Friday. Economists polled by Dow Jones expect a 0.4% monthly increase and an annual rate of 3.4%. Fed funds futures trading suggests a roughly 71% likelihood of a rate hike, according to the CME Group's FedWatch tool. "A reading in line with consensus would represent the fourth consecutive month of encouraging inflation readings and ease pressure for a hike," said Christopher Hodge, chief economist of the U.S. at Natixis CIB Americas. "If inflation comes in hotter than consensus, we expect a hike at next week's meeting."
Pro: 60/40 portfolios
5 d ago
BlackRock’s Fabio Osta calls the AI buildout a “once in a lifetime” investment shift that is turbo-charging private markets appetite and driving a move away from the traditional 60/40 equities-bonds portfolio mix, according to a CNBC interview at the IPEM Global conference in Paris. Osta, managing director and head of the alternatives specialists team, EMEA wealth at BlackRock, said private markets are becoming “more accessible, more holistic and more transparent” for wealthy individual investors. He noted that both institutional investors and high-net-worth individuals show “great appetite” for private markets as supply shocks, inflation pressures and bond market volatility pressure the 60/40 model. “We are entering a new continuum for blending public and private markets,” Osta told CNBC. He recommends a 50/30/20 split of equities, bonds, and private markets for wealth clients. Global alternative assets under management are expected to grow from $20 trillion to $30 trillion by 2030, driven by institutional and wealth client demand. Osta sees AI as a core private markets opportunity, evolving from a micro to a macro theme with implications across regions, sectors, and asset classes. BlackRock views AI in three phases: the early buildout requiring scaled innovation, followed by adoption, then transformation over the next decade. He highlighted Mistral’s €3 billion ($3.49 billion) fundraise, in which BlackRock participated, as a “prime example” of AI-private markets tie-ups. Osta also identified energy transition, demographics, and urbanization as mega trends shaping private markets, stressing that selectivity is key within that opportunity set.
Google signs its biggest rice-methane carbon credit deal with Indian startup Mitti Labs
5 d ago
Google has agreed to purchase 1 million carbon credits from Indian climate-tech startup Mitti Labs through 2030, marking the largest publicly announced deal for credits generated from cutting methane emissions in rice farming, as the tech giant races to offset rising emissions from its AI infrastructure expansion. The four-year agreement covers rice farms across Karnataka, Andhra Pradesh, and Telangana, reaching about 100,000 hectares at peak delivery. Financial terms were not disclosed. The project pays farmers to reduce flooding duration, cutting methane by roughly 50% and irrigation water use by about 40% without lowering crop yields. Google’s greenhouse gas emissions grew 18% year-over-year to about 14.5 million metric tons of CO₂ equivalent in 2025, per its June environmental report, challenging its net-zero-by-2030 goal. Mitti Labs’ GeoAI platform combines satellite radar imagery with field measurements to remotely monitor crop growth, soil moisture, and flooding across smallholder farms. Credits will be issued under Gold Standard or Isometric certification with independent third-party verification. Founded in 2023, the New York- and Bengaluru-based startup has saved over 500 billion liters of water in two years. The deal allows Mitti Labs to scale significantly, working with more than 100,000 farmers and aiming for millions by 2030. Majority of project revenue goes to farming communities. Google also previously partnered with Varaha for 100,000 tons of carbon credits in India and signed a 150-MW solar project in Rajasthan. Mitti Labs plans to expand to the Philippines in 2025 and Southeast Asia in 2027.
Nebius Group Announces Pricing of Upsized Private Offering of $5.0 Billion of Convertible Senior Notes
5 d ago
Mistral, the French AI startup, has raised €3 billion in a Series D funding round at a post-money valuation of over €21 billion, marking the largest equity fundraising ever by a European technology company, as it scales its sovereign AI stack combining open-weight models, infrastructure, and compute capacity. Samsung Electronics led the round, joined by co-leads Scaleup Europe Fund (managed by EQT) and existing investor PSG Equity. The funding will expand Mistral’s frontier research, scale compute for training powerful models, and accelerate commercial growth and international footprint across 20 countries, supporting 125+ global enterprises including Airbus, ASML, and HSBC. Mistral positions itself as the only full-stack AI company offering open-weight models, private compute, and production systems that prevent vendor lock-in, addressing enterprise and government demand for performance with control over data, infrastructure, and deployment choices. The round attracted a global syndicate including new investors Advent, BlackRock, and the Grand Duchy of Luxembourg, plus existing backers a16z, ASML, BNP Paribas CIB, Bpifrance, DST Global, General Catalyst, Index Ventures, Lightspeed, NVIDIA, and Salesforce Ventures. With a Series C led by ASML and now Series D led by Samsung Electronics, Mistral has secured backing from advanced manufacturing and industrial technology leaders, reinforcing its approach to deploying state-of-the-art AI inside complex real-world environments while maintaining data governance and sovereignty across four dimensions: data, models, compute, and systems.
Stock futures are little changed as traders brace for wholesale inflation report
5 d ago
**U.S. Stock Futures Flatline as Traders Await Key Inflation Reports Amid Rising Treasury Yields and Oil Prices** U.S. stock futures traded near the flatline Wednesday evening as traders focused on the first of two inflation reports due this week, with Dow Jones Industrial Average futures edging up 54 points (0.1%), S&P 500 futures adding 0.04%, and Nasdaq-100 futures marginally lower. The cautious start follows a third consecutive day of losses for major averages: the Dow fell over 400 points (0.8%), the S&P 500 dropped 0.5%, and the Nasdaq Composite declined 0.6%. Asian markets also slid Thursday, with Japan’s Nikkei 225 down 0.62%, South Korea’s Kospi losing 0.24%, and Australia’s S&P/ASX 200 falling 1.36%. Higher Treasury yields kept U.S. stocks under pressure after the Treasury Department announced it would buy back up to $6 billion in longer-term debt—triple the usual amount and a sharp increase from its plan less than a month ago. The 10-year Treasury note yield climbed to a session high of 4.857%, its highest since November 2023. Rising oil prices amid escalating U.S.-Iran tensions also weighed on markets: international Brent crude futures advanced 3.4% to settle at $101.21 a barrel, while U.S. West Texas Intermediate crude rose 3.3% to $96.05—both the highest since May. Traders now eye two inflation reports: August’s Producer Price Index (PPI) due Thursday, expected to show a 0.3% monthly gain and 5.3% year-over-year increase, and the closely watched Consumer Price Index (CPI) on Friday, with consensus forecasts of a 0.4% monthly jump and 3.4% annual rise. Additional economic data includes weekly initial jobless claims and August existing home sales, both due Thursday morning.
Anthropic researcher
6 d ago
AI researcher Jacob Coxon resigned from Anthropic on Tuesday, accusing the company and rival OpenAI of "gambling with our lives" by racing toward superhuman AI systems that could cause human extinction—igniting a social media firestorm and underscoring urgent search interest in AI safety, alignment, and regulation. Coxon, a former researcher at both firms, posted on X that developers "earnestly believe AI could kill us all by the end of the decade," warning that soon "superhuman systems can hack anything, revolutionize any field overnight, and acquire real power and resources." His post garnered over 70 million views, amplifying a long-running Silicon Valley debate about safe AI development as Anthropic and OpenAI pursue potentially historic IPOs while releasing increasingly advanced models. OpenAI chief scientist Jakub Pachocki echoed concerns in a Sunday blog post, stating no AI company has "solved alignment and monitoring to a sufficient degree to continue responsibly scaling at maximum speed." He called for voluntary slowdowns and international coordination. Anthropic alignment lead Evan Hubinger also backed Coxon, estimating a >10% chance of AI-caused human extinction within the next decade and admitting "we do not yet have a plan to solve alignment for superintelligence." The resignations and warnings come amid growing calls for regulation. In July, over 1,400 AI researchers signed the "Pacing the Frontier" open letter urging U.S. government action. Lawmakers have introduced competing bills: the FRONTIER Act (Reps. Obernolte and Trahan) to govern advanced AI deployment, and the Ban Artificial Superintelligence Act (Sens. Sanders and Casar) to pause development until safety rules are established. Public backlash against AI data centers has also intensified, with Treasury Secretary Scott Bessent saying AI companies have done a "horrendous job of explaining themselves" and must convince Americans that benefits won't accrue only to a small group.