CIA To Integrate AI 'Co-Workers' To Process Intelligence, Catch Spies Authored by Brayden Lindrea via CoinTelegraph.com, The US Central Intelligence Agency said it will embed “AI co-workers” directly into its analytics platforms to assist analysts with detecting spies and anticipating hostile moves by foreign adversaries. “Within the next couple of years, we will have AI co-workers built into all ...
CIA To Integrate AI 'Co-Workers' To Process Intelligence, Catch Spies Authored by Brayden Lindrea via CoinTelegraph.com, The US Central Intelligence Agency said it will embed “AI co-workers” directly into its analytics platforms to assist analysts with detecting spies and anticipating hostile moves by foreign adversaries. “Within the next couple of years, we will have AI co-workers built into all of the agency’s analytic platforms — a kind of classified version of generative AI that will help our analysts with basic tasks,” CIA Deputy Director Michael Ellis reportedly said on Thursday during an event hosted by the Special Competitive Studies Project in Washington, DC. According to Politico, Ellis said the AI co-workers would assist intelligence officers with drafting key judgments, testing analytical conclusions and identifying trends in intelligence that the agency gathers from abroad. However, he said humans would continue to make the “key decisions.” Michael Ellis (right) speaking with Anthony Pompliano (left) about Bitcoin and AI’s role in US national security in May: Source: Anthony Pompliano The CIA’s AI plans come amid a feud between the US Department of Defense and AI firm Anthropic. Despite having a $200 million contract with the Department of Defense, Anthropic prevented the use of its flagship AI product, Claude, for mass domestic surveillance and fully autonomous weapons. US President Donald Trump ordered all federal agencies to immediately cease using Anthropic's technology in March, while the Department of Defense declared Anthropic a supply chain risk. The parties remain locked in a legal dispute over the designation, with a US appeals court on Wednesday denying Anthropic’s emergency request to temporarily pause the label. While Ellis didn’t point out Anthropic, he said the CIA “cannot allow the whims of a single company” to constrain its capabilities. The CIA has already adopted AI for other intelligence tasks, having tested about 300 AI projects las...
Neha Khoda, head of credit strategy at BofA Securities, joins Katie Greifeld on "Bloomberg Real Yield." A measure of perceived risk in US corporate credit improved this week amid sharp gains for many assets as the US and Iran reached a ceasefire deal. (Source: Bloomberg)
Neha Khoda, head of credit strategy at BofA Securities, joins Katie Greifeld on "Bloomberg Real Yield." A measure of perceived risk in US corporate credit improved this week amid sharp gains for many assets as the US and Iran reached a ceasefire deal. (Source: Bloomberg)
Treasuries fell as quickening inflation stemming from the US war on Iran — and the prospect of escalation — eroded wagers that the Federal Reserve will lower interest rates once this year. The rise in yields began in early US trading after the release of consumer prices data for March — the first to reflect the impact of the war. Yields extended their climb to as much as five basis points after mi...
Treasuries fell as quickening inflation stemming from the US war on Iran — and the prospect of escalation — eroded wagers that the Federal Reserve will lower interest rates once this year. The rise in yields began in early US trading after the release of consumer prices data for March — the first to reflect the impact of the war. Yields extended their climb to as much as five basis points after midday after US President Donald Trump threatened to escalate the war if weekend talks failed. Jared Bernstein, distinguished policy fellow at the Stanford Institute for Economic Policy Research/Former-Chair of the White House Council of Economic Advisers under President Joe Biden joins to discuss. (Source: Bloomberg)
The Commodity Futures Trading Commission headquarters in Washington, DC, US, on Thursday, March 6, 2025. The Commodity Futures Trading Commission last month terminated about a dozen probationary employees, including attorneys in enforcement and market oversight divisions, effective immediately. Photographer: Tierney L. Cross/Bloomberg
The Commodity Futures Trading Commission headquarters in Washington, DC, US, on Thursday, March 6, 2025. The Commodity Futures Trading Commission last month terminated about a dozen probationary employees, including attorneys in enforcement and market oversight divisions, effective immediately. Photographer: Tierney L. Cross/Bloomberg
Tom Werner/DigitalVision via Getty Images Though the stock market has managed to quickly claw back all of the losses since the Iran conflict began, underneath a flat YTD S&P 500 ( SP500 ) is a deep recession in software stocks, prompted by fears of the "SaaSpocalypse." Previously the hottest corner of the stock market since COVID, software stocks have undergone a deep re-rating in valuation multip...
Tom Werner/DigitalVision via Getty Images Though the stock market has managed to quickly claw back all of the losses since the Iran conflict began, underneath a flat YTD S&P 500 ( SP500 ) is a deep recession in software stocks, prompted by fears of the "SaaSpocalypse." Previously the hottest corner of the stock market since COVID, software stocks have undergone a deep re-rating in valuation multiples that have erased years of gains. Veeva Systems Inc. ( VEEV ), a stock I had frequently pointed out as overvalued, has lost ~30% of its value this year, wiping billions of dollars off its market cap. At the same time, however, fundamental sales execution remains healthy. The core question now: is it time to buy the dip, or is Veeva just a falling knife? Data by YCharts I was bearish on Veeva last year when the stock was trading in the ~$300s, and I recently upgraded the stock to a neutral stance in January, when the stock had made its first descent to the ~$220s. To me, the most significant asset an investor can have during volatile markets is an ability to change our minds. My skittishness on Veeva had always been related to its valuation premium, which has since undergone a complete, clean reset. Amid strong billings and a decent guidance outlook for the current year, FY27, I'm raising my rating on Veeva to a Buy . To me, the company's merits now far outweigh its potential risks. The core drivers of the upside case for Veeva are: Veeva is unlikely to be displaced entirely by AI. Consider for a moment the fact that Veeva is a vertical software company that serves the biotech and pharmaceutical industries, which are highly regulated. Its software assists not just in "regular" tasks that other industries perform (such as sales/CRM), but its more specialized tools offer clinical operations support as well as regulatory submissions. It's highly unlikely that major life sciences giants like Moderna ( MRNA ) and Bristol-Myers Squibb ( BMY ) will take a chance on ripping out m...
A helpful indicator of how automakers such as Ford Motor Company (NYSE: F) , General Motors (NYSE: GM) , and Stellantis are operating is quarterly sales in the lucrative U.S. market, which drives a huge chunk of profitability. There's plenty to digest from the first-quarter data, but let's focus on what will slow Ford's earnings a bit, why, and how quickly it can recover. The first thing investors...
A helpful indicator of how automakers such as Ford Motor Company (NYSE: F) , General Motors (NYSE: GM) , and Stellantis are operating is quarterly sales in the lucrative U.S. market, which drives a huge chunk of profitability. There's plenty to digest from the first-quarter data, but let's focus on what will slow Ford's earnings a bit, why, and how quickly it can recover. The first thing investors should do is surround the data with some necessary context. In this case, Q1 U.S. sales faced a tough comparison with 2025. In fact, Q1 sales in the U.S. last year were as strong as they had been in the previous six years, driven by people rushing to purchase before anticipated price increases due to tariffs. Q1 2026 sales fell for a number of juggernauts, including GM, Toyota , Ford, Honda , Nissan , Subaru , and BMW Group . In addition to the difficult comparison from last year, automakers grappled with lingering winter weather, near-record new-vehicle pricing, and rising gasoline prices. Image source: Ford Motor Company. Continue reading
Gingagi/iStock via Getty Images Investment Overview The stock of Dallas, Texas-based biotech Forte Biosciences ( FBRX ) is up by a remarkable 480% on a 12-month basis and up >120% on a six-month basis. Shares are also up >35% this week, apparently due to a fundraising announced by the company on Wednesday of $150m at a price to the public of $26.27 per share. Announcing its full-year 2025 earnings...
Gingagi/iStock via Getty Images Investment Overview The stock of Dallas, Texas-based biotech Forte Biosciences ( FBRX ) is up by a remarkable 480% on a 12-month basis and up >120% on a six-month basis. Shares are also up >35% this week, apparently due to a fundraising announced by the company on Wednesday of $150m at a price to the public of $26.27 per share. Announcing its full-year 2025 earnings at the end of March, Forte reported a cash position of $77m, and a net loss for the year of $(69.4m), so this week's raise feels like another step in the rehabilitation of a company that looked as though it faced liquidation only a few years ago. In this note, I'll provide some background to Forte's story, discuss its "pipeline-in-a-product" candidate FB102, and speculate about where I see the stock price headed next. Forte - Brief History, Lead Candidate Back in August 2021, Forte Biosciences scrapped development of its atopic dermatitis treatment FB-401 following disappointing mid-stage trial results. Shares sank in value by >80% that week—FB-401 was Forte's only drug candidate—but despite pressure from its top shareholder to liquidate the company, Forte instead focused development on a new candidate, FB102, a proprietary anti-CD122 monoclonal antibody. The company completed a number of fundraisings and also completed a 1-25 reverse stock split in August 2024, helping it stay afloat financially and maintain compliance with Nasdaq listing laws (which require stocks to trade >$1 per share). The stock had reached a low of ~$5 per share by April last year, before embarking on a long bull run, reaching a high of >$35 in January. The run began around the time Forte reported positive FB-102 data from a Phase 1b study in Celiac disease—according to a press release : The FB102-101 Phase 1b celiac disease study enrolled 32 subjects 3:1 randomized (24 on FB102 and 8 on placebo). Subjects received 4 doses of FB102 (10 mg/kg) and underwent a 16 day gluten challenge. In addition to sa...
Sergio Delle Vedove Nike ( NKE ) chief innovation officer Tom Bignall is leaving the company after being in the position for less than one year. Bignall, whom CEO Elliott Hill elevated to the chief innovation officer last June, is reportedly leaving to pursue other creative interests and philanthropic pursuits. He will be succeeded by Andy Caine, Nike vice president and creative director for sport...
Sergio Delle Vedove Nike ( NKE ) chief innovation officer Tom Bignall is leaving the company after being in the position for less than one year. Bignall, whom CEO Elliott Hill elevated to the chief innovation officer last June, is reportedly leaving to pursue other creative interests and philanthropic pursuits. He will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday. Caine will report to Phil McCartney, whom Hill appointed to the newly created position of chief innovation, design, and product officer last year. Notably, Caine will be the fourth person to head innovation at Nike over the last three years. Shares of Nike ( NKE ) fell 3.3% in Friday afternoon action and are down more than 33% on a year-to-date basis. More on Nike Nike Earnings Summary: Continued Lack Of Revenue Growth Is Particularly Disheartening Nike: A Textbook Trap For Contrarians Wall Street Lunch: Nike Tumbles On Soft Forecast Nike takes a shot at adidas' $40M Champions League match ball contract Nike one of the most overvalued among footwear stocks
Why Alibaba Group Holding (NYSE:BABA) Is Drawing Fresh Attention Alibaba Group Holding (NYSE:BABA) is back in focus after a recent share price move, prompting investors to reassess its US$127.68 closing level, current returns profile, and how its core businesses are contributing to revenue and earnings today. See our latest analysis for Alibaba Group Holding. The recent 1 day share price return of...
Why Alibaba Group Holding (NYSE:BABA) Is Drawing Fresh Attention Alibaba Group Holding (NYSE:BABA) is back in focus after a recent share price move, prompting investors to reassess its US$127.68 closing level, current returns profile, and how its core businesses are contributing to revenue and earnings today. See our latest analysis for Alibaba Group Holding. The recent 1 day share price return of 1.88% and 7 day share price return of 4.61% sit against a weaker 30 day and year to date share...