Eisman on Monday expressed skepticism about SpaceX potentially merging with EV Giant Tesla Inc (TSLA), highlighting the latter company’s many challenges.
Eisman on Monday expressed skepticism about SpaceX potentially merging with EV Giant Tesla Inc (TSLA), highlighting the latter company’s many challenges.
Israel and Iran appeared to back away from further strikes on Monday, hours after they traded fire for the first time since the US agreed to a ceasefire with Tehran two months ago. Both countries warned that they were ready to launch retaliatory attacks if provoked. The renewed hostilities raised concerns that the Middle East could plunge back into a full-scale war. Since the US and Israel began s...
Israel and Iran appeared to back away from further strikes on Monday, hours after they traded fire for the first time since the US agreed to a ceasefire with Tehran two months ago. Both countries warned that they were ready to launch retaliatory attacks if provoked. The renewed hostilities raised concerns that the Middle East could plunge back into a full-scale war. Since the US and Israel began striking Iran on February 28, the war has shaken the global economy, driven up energy prices around...
Richard Drury/DigitalVision via Getty Images I last covered Ares Capital ( ARCC ) back in February and upgraded it from a hold to a buy after its stock price dipped well below $20. In that article, I highlighted why ARCC was such an effective long-term compounder by highlighting its strengths relative to Oaktree Specialty Lending Corporation ( OCSL ). Since then, the company has reported its Q1 re...
Richard Drury/DigitalVision via Getty Images I last covered Ares Capital ( ARCC ) back in February and upgraded it from a hold to a buy after its stock price dipped well below $20. In that article, I highlighted why ARCC was such an effective long-term compounder by highlighting its strengths relative to Oaktree Specialty Lending Corporation ( OCSL ). Since then, the company has reported its Q1 results, and in today's article, I'm going to provide an update on this blue-chip Business Development Company, as proxied by the VanEck BDC Income ETF ( BIZD ). A Company Built For Both Upside And Resilience There are many reasons why ARCC is such a great company, including: Its large, well-diversified portfolio is spread across 607 borrowers in 22 industries and 57 subindustries, with the average position size under 20 basis points. It is managed by Ares Management Corporation ( ARES ), one of the world's premier private credit and alternative asset managers. Ares Capital has a 21-year public track record since going public, has generated double-digit annualized total returns, and has significantly outperformed over that period of time. It also has an investment-grade credit rating from Fitch, Moody's, and S&P. Recently issued $750 million worth of 5-year notes at just a 180 basis point spread to where treasuries yielded at the time, which reflects the bond market's confidence in the company. Today, its portfolio consists of about 60% in senior secured loans, with about 25% invested in equity and equity-like positions, and the remainder in subordinated debt-type investments. This combination reflects Ares Capital's approach to leaning into strong economic environments to generate outsized returns that have helped fuel its long-term total return performance and its ability to sustain its dividend and NAV over time. It also has sufficient emphasis on more conservative spots in the capital stack to help guard against extreme downside risk during periods of economic weakness. S...
NASA's Artemis II crew are the fastest people alive, and now they have the patch to prove it. Mission Commander Reid Wiseman, pilot Victor Glover, and mission specialists Christina Koch and Jeremy Hansen (the latter with the Canadian Space Agency) spent 10 days in early April flying by the Moon. Their journey took them farther away from Earth than any humans have gone (52,756 miles [406,771 km]) a...
NASA's Artemis II crew are the fastest people alive, and now they have the patch to prove it. Mission Commander Reid Wiseman, pilot Victor Glover, and mission specialists Christina Koch and Jeremy Hansen (the latter with the Canadian Space Agency) spent 10 days in early April flying by the Moon. Their journey took them farther away from Earth than any humans have gone (52,756 miles [406,771 km]) and then, on the way back on board their Orion spacecraft Integrity , they sped up to about 24,664 miles per hour (39,693 k/ph) reentering the atmosphere . Only three other people in history have traveled faster. NASA's Apollo 10 astronauts Thomas Stafford, John Young, and Eugene Cernan set the record for the highest speed attained by a crewed vehicle relative to the Earth's surface: 24,791 mph (39,897 kph) on May 26, 1969. Read full article Comments
'Chat Is Dead': OpenAI's Pre-IPO Makeover Into A "Superapp" The year the private-AI complex finally has to show its work has arrived, and ChatGPT maker OpenAI is about to add some major garnishing to the prospectus before their upcoming IPO - in what FT is calling the "biggest overhaul of ChatGPT since launch." " It will transcend the actual surface . . . what we’re building towards is where you h...
'Chat Is Dead': OpenAI's Pre-IPO Makeover Into A "Superapp" The year the private-AI complex finally has to show its work has arrived, and ChatGPT maker OpenAI is about to add some major garnishing to the prospectus before their upcoming IPO - in what FT is calling the "biggest overhaul of ChatGPT since launch." " It will transcend the actual surface . . . what we’re building towards is where you have your own personal agent that is capable of helping you . . . across everything in your life, be it personally or at work," said Thibault Sottiaux, who previously ran Codex and now leads all of OpenAI’s core product and platform. Context: Over the last three weeks, the three most valuable private companies in the space announced IPOs. SpaceX filed its S-1 in May, months after folding xAI into itself. Anthropic filed a confidential draft S-1 on June 1, reportedly targeting an October listing. And OpenAI filed its own confidential draft around May 22, aiming for a debut as soon as September at a private valuation of roughly $730 billion to $850 billion, with IPO chatter pushing toward $1 trillion. The back half of 2026 is now the first real test of whether public investors will pay the prices private rounds have set. "Chat Is Dead" "Chat is dead," one senior OpenAI employee told the FT - which is a crazy thing to hear given that ChatGPT is what brought us here, and still has nearly a billion users. The obvious interpretation: OpenAI is moving away from chat because chat does not pay, at least not quickly enough to support a near-trillion-dollar valuation. Adoption was never the problem. ChatGPT has nearly a billion users, most of them on the free tier. The problem is that the flagship product remains a low-margin consumer chatbot while the company burns roughly $14 billion a year against revenue that crossed $20 billion by the end of 2025. Depending on how that revenue is annualized and what multiple investors apply, OpenAI's valuation range implies a price-to-sales multip...
Cotton price action is trading with 20 to 56 points across the front months on Monday morning. Futures faced outside pressure on Friday, with contracts down 41 to 137 points across the board, with July falling 240 points. The US dollar index was up $0.643 at $100.025. Crude oil losses...
Cotton price action is trading with 20 to 56 points across the front months on Monday morning. Futures faced outside pressure on Friday, with contracts down 41 to 137 points across the board, with July falling 240 points. The US dollar index was up $0.643 at $100.025. Crude oil losses...
Forget the far-off promises of super-intelligent agents for a moment; the company's massive AI investment is already quietly upgrading its core money-maker.
Forget the far-off promises of super-intelligent agents for a moment; the company's massive AI investment is already quietly upgrading its core money-maker.
sasirin pamai/iStock via Getty Images While the Canadian economy currently sits in a technical recession, TD Deputy Chief Economist Derek Burleton says it may return to growth in the back half of 2026. Transcript Greg Bonnell: Canadian economy has fallen into a technical recession. But will slowing economic growth be enough to get the Bank of Canada off the sidelines with some interest rate action...
sasirin pamai/iStock via Getty Images While the Canadian economy currently sits in a technical recession, TD Deputy Chief Economist Derek Burleton says it may return to growth in the back half of 2026. Transcript Greg Bonnell: Canadian economy has fallen into a technical recession. But will slowing economic growth be enough to get the Bank of Canada off the sidelines with some interest rate action? Joining us now to discuss is Derek Burleton, Deputy Chief Economist with TD Bank Group. Derek, great to have you back on the program. Derek Burleton: Thank you. Good to be here. Greg Bonnell: All right. People are picking up newspapers. They're picking up their phones. They're seeing the headline that Canada is in a technical recession. And then they're hearing that, perhaps, there's some nuance to that. Let's talk about the health of the economy beyond the headline and what's actually happening. Derek Burleton: Yeah. It's weak. We had the GDP data for the first quarter last week, and if you squinted your eyes, you'd see a very small negative in the quarter. That meant two straight quarters of declining activity. We had -1% in the fourth quarter. As soon as I saw that, I said, OK, this was going to lead to a lot of headlines about a so-called two-quarter-in-a-row technical recession. Economists look at it very differently. I think our bar on what is considered a recession or not, a recession is definitely higher. You need more conditions to be met than just two straight quarters, particularly when the declines are very shallow, like the -0.1% annualized, which could be revised away. So I think the way I look at it is the economy, when we went into the early part of this year, the first quarter, we knew it was going to be a tough environment for growth. We had something like 1% growth forecast for this year, which is not a big growth cushion. It wouldn't take a lot to go wrong to tip it closer to stagnation, maybe even a mild recession. And, in fact, we're in that kind of ...
Apple just announced watchOS 27, the next version of its Apple Watch operating system, introducing support for Siri AI, a redesigned "dynamic" app grid, and improvements to health and fitness tracking. The watchOS 27 update will be available "this fall," according to Apple, though support is notably limited - the new OS will only be available for Apple Watch Series 10 models or newer, including th...
Apple just announced watchOS 27, the next version of its Apple Watch operating system, introducing support for Siri AI, a redesigned "dynamic" app grid, and improvements to health and fitness tracking. The watchOS 27 update will be available "this fall," according to Apple, though support is notably limited - the new OS will only be available for Apple Watch Series 10 models or newer, including the Ultra 2 , Ultra 3 , and SE 3 . The biggest update coming to supported Apple Watch models is Siri AI - the next-generation of Apple's virtual assistant, powered by Apple Intelligence. This comes with a new, dedicated Siri app that "brings together al … Read the full story at The Verge.