Bill Pulte, Federal Housing Finance Agency director, speaks on CNBC, Jan. 8, 2026. CNBC President Donald Trump on Wednesday doubled down on his choice of Bill Pulte as acting director of national intelligence, despite bipartisan pushback on the pick that could result in the lapse this week of a foreign surveillance program with major national security implications. Earlier this month Trump tapped ...
Bill Pulte, Federal Housing Finance Agency director, speaks on CNBC, Jan. 8, 2026. CNBC President Donald Trump on Wednesday doubled down on his choice of Bill Pulte as acting director of national intelligence, despite bipartisan pushback on the pick that could result in the lapse this week of a foreign surveillance program with major national security implications. Earlier this month Trump tapped Pulte , who leads the Federal Housing Finance Agency and has used his perch to launch a series of probes into several of the president's political opponents over allegations of mortgage-related wrongdoing. The move drew swift criticism from both sides of the aisle and calls for Trump to ditch his choice of Pulte or quickly find a permanent replacement for the role. It also increased the odds that Section 702 of the Foreign Intelligence Surveillance Act , which allows the government to collect the communications of people outside the U.S., including when they are interacting with Americans, would expire at the end of the week as Democrats vowed to withhold their support. Read more CNBC politics coverage Trump family got about $500M from crypto venture — but investors saw steep losses Trump repeats claims that Iran deal is only 'days' away, despite recent strikes USDA Secretary Rollins calls Texas ag chief 'unserious' amid screwworm threat Trump nominates Todd Blanche for attorney general amid controversy over DOJ fund But Trump was apparently unfazed, attacking Democrats in a post on TruthSocial and calling for a short-term extension of the program. "Just like they did on Border Funding, the Radical Left Dumocrats are trying to take our National Security hostage because of unrelated issues. They should stop playing politics with the safety of our Great Country," Trump posted. In the post, Trump said he is looking for a permanent DNI nominee, but in the meantime Pulte would take over on June 19. Trump said he'd asked Pulte "to execute the immediate and needed downsizing of th...
da-kuk/E+ via Getty Images Three months ago, GPUs were all the rage, and the idea that CPUs could challenge GPUs when it comes to AI budgets was unfathomable. The shift in this perception is evident not only in management commentary, but also in CPU design companies and OEMs raising forecasts that are now 2X+ higher, as many of the largest players have stated they did not foresee the magnitude of ...
da-kuk/E+ via Getty Images Three months ago, GPUs were all the rage, and the idea that CPUs could challenge GPUs when it comes to AI budgets was unfathomable. The shift in this perception is evident not only in management commentary, but also in CPU design companies and OEMs raising forecasts that are now 2X+ higher, as many of the largest players have stated they did not foresee the magnitude of the surge in CPU demand from agentic AI. In just six months, Advanced Micro Devices ( AMD ) has issued a massive increase to its server CPU market forecast, nearly doubling its expected CAGR to 35%—estimating that the market will eclipse $120 billion by 2030. Arm Holdings ( ARM ) made a similar announcement in March, projecting that the total addressable market (TAM) for data center CPUs will grow to over $100 billion by its fiscal year 2031 (roughly calendar year 2030). This would represent a more than 4X increase over its current TAM estimate of $24 billion, equating to a 33% CAGR. An important shift is driving these forecasts as the AI market transitions away from chatbots, which saw a CPU-to-GPU ratio that was heavily weighted toward GPUs from 2023-2025. As we move into agentic AI, an Intel ( INTC ) and Georgia Tech paper has stated that “tool-dominated agentic AI workloads are significantly bottle-necked" with CPUs consuming up to 88% of the end-to-end latency. The paper further concludes that “with better quality GPUs, the bottleneck can swiftly shift more towards CPUs.” What Intel and Georgia Tech are referring to, is that to scale agentic AI efficiently, CPU orchestration capacity will need to catch up to GPU reasoning capacity to minimize latency and prevent GPU underutilization. The answer to this problem is increasing the CPU-to-GPU ratio in AI clusters to keep token costs down. Below, I break down why CPUs are positioned to take a larger share of AI cluster bill of materials (BOM) and the explosion in demand we are already seeing. I examine server CPU forecasts ...
da-kuk/E+ via Getty Images Three months ago, GPUs were all the rage, and the idea that CPUs could challenge GPUs when it comes to AI budgets was unfathomable. The shift in this perception is evident not only in management commentary, but also in CPU design companies and OEMs raising forecasts that are now 2X+ higher, as many of the largest players have stated they did not foresee the magnitude of ...
da-kuk/E+ via Getty Images Three months ago, GPUs were all the rage, and the idea that CPUs could challenge GPUs when it comes to AI budgets was unfathomable. The shift in this perception is evident not only in management commentary, but also in CPU design companies and OEMs raising forecasts that are now 2X+ higher, as many of the largest players have stated they did not foresee the magnitude of the surge in CPU demand from agentic AI. In just six months, Advanced Micro Devices ( AMD ) has issued a massive increase to its server CPU market forecast, nearly doubling its expected CAGR to 35%—estimating that the market will eclipse $120 billion by 2030. Arm Holdings ( ARM ) made a similar announcement in March, projecting that the total addressable market (TAM) for data center CPUs will grow to over $100 billion by its fiscal year 2031 (roughly calendar year 2030). This would represent a more than 4X increase over its current TAM estimate of $24 billion, equating to a 33% CAGR. An important shift is driving these forecasts as the AI market transitions away from chatbots, which saw a CPU-to-GPU ratio that was heavily weighted toward GPUs from 2023-2025. As we move into agentic AI, an Intel ( INTC ) and Georgia Tech paper has stated that “tool-dominated agentic AI workloads are significantly bottle-necked" with CPUs consuming up to 88% of the end-to-end latency. The paper further concludes that “with better quality GPUs, the bottleneck can swiftly shift more towards CPUs.” What Intel and Georgia Tech are referring to, is that to scale agentic AI efficiently, CPU orchestration capacity will need to catch up to GPU reasoning capacity to minimize latency and prevent GPU underutilization. The answer to this problem is increasing the CPU-to-GPU ratio in AI clusters to keep token costs down. Below, I break down why CPUs are positioned to take a larger share of AI cluster bill of materials (BOM) and the explosion in demand we are already seeing. I examine server CPU forecasts ...
Volkswagen (ETR:VOW3) reaffirmed its sustainability targets and outlined new circular economy initiatives during its eighth sustainability conference, with executives saying ESG remains embedded in the company’s broader strategy despite a more difficult economic backdrop. Dirk Voeste, who presented
Volkswagen (ETR:VOW3) reaffirmed its sustainability targets and outlined new circular economy initiatives during its eighth sustainability conference, with executives saying ESG remains embedded in the company’s broader strategy despite a more difficult economic backdrop. Dirk Voeste, who presented
Bond traders maintained bets that the Federal Reserve will raise interest rates by the end of the year, even after a soft US core inflation reading eased pressure on Chairman Kevin Warsh to act sooner. Sree Kochugovindan, Senior Research Economist at Aberdeen, discusses the path forward for the Fed, as well as what's in store for other central banks. (Source: Bloomberg)
Bond traders maintained bets that the Federal Reserve will raise interest rates by the end of the year, even after a soft US core inflation reading eased pressure on Chairman Kevin Warsh to act sooner. Sree Kochugovindan, Senior Research Economist at Aberdeen, discusses the path forward for the Fed, as well as what's in store for other central banks. (Source: Bloomberg)
JHVEPhoto/iStock Editorial via Getty Images Preamble I last wrote about The Kraft Heinz Company ( KHC ) in February of 2025 ( The Kraft Heinz Company: Value Play Or A Value Trap ). At that time of writing, the shares were trading at $29.22. In the 15 months since that article was written, the share price has since crashed by 22.21% to $22.73 as of close on June 3, 2026. Analyst's Fair Value Estima...
JHVEPhoto/iStock Editorial via Getty Images Preamble I last wrote about The Kraft Heinz Company ( KHC ) in February of 2025 ( The Kraft Heinz Company: Value Play Or A Value Trap ). At that time of writing, the shares were trading at $29.22. In the 15 months since that article was written, the share price has since crashed by 22.21% to $22.73 as of close on June 3, 2026. Analyst's Fair Value Estimate as of Feb 2025 15 months ago, I valued KHC shares at $25.31 and thought that KHC was expensive then; the current share price is clearly under my previous valuation, but is it cheaper ? Could the share price have bottomed? Are there catalysts in play? Has KHC turned into a compelling value buy, or would KHC continue to be a HOLD (i.e. do not buy)? Some Context Before We Dive In In his first earnings call as CEO, newly appointed CEO Steven Cahillane listed the strengths of the business: 1. Stable of iconic brands,2. Strong balance sheet, and 3. Robust free cash flow. He also acknowledged the challenges KHC faces from market share loses, organic sales decline, weakening customer opting for cheaper brands, worsening industry trends as the consumers' negative perception of ultra-processed foods deepens, 100-basis point reduction due to reductions in SNAP, and geopolitical challenges creating additional input cost headwinds that pressure margins. These concerns are not Kraft Heinz specific. They have impacted the entire packaged food industry. Scanning Kraft Heinz's peer group in the Packaged Food and Meat industry players like General Mills, Inc. ( GIS ), The Campbell Company ( CPB ), Conagra Brands, Inc. ( CAG ), and Hormel Foods Corporation ( HRL ) and The J.M. Smucker Company ( SJM ), both of these last two are ones I covered the articles published here for HRL and here for SJM , it is clear that they share similar headwinds (more on this in a little bit). Seeking Alpha Peer Comparison (Total Returns) In the past 10 years, all these companies posted negative total returns,...
Stranger Things actor makes first public comments about his ex’s revealing hit album which tracks the dissolution of a relationship David Harbour has spoken about his ex Lily Allen ’s tell-all album West End Girl for the first time in a new interview. The Stranger Things actor, who is on the Emmys trail for HBO crime drama DTF St Louis, separated from the singer in early 2025 after they married in...
Stranger Things actor makes first public comments about his ex’s revealing hit album which tracks the dissolution of a relationship David Harbour has spoken about his ex Lily Allen ’s tell-all album West End Girl for the first time in a new interview. The Stranger Things actor, who is on the Emmys trail for HBO crime drama DTF St Louis, separated from the singer in early 2025 after they married in 2020. The couple filed for divorce months after their separation. Continue reading...
Readers respond to an article by George Monbiot on the companies cashing in on unregulated children’s homes in England Regarding George Monbiot’s article ( Horrific, unregulated, and very profitable. The companies making cash from England’s children in care, 5 June ), several years ago, as a newly elected councillor, I was shocked by the high cost of placing children in private residential care. W...
Readers respond to an article by George Monbiot on the companies cashing in on unregulated children’s homes in England Regarding George Monbiot’s article ( Horrific, unregulated, and very profitable. The companies making cash from England’s children in care, 5 June ), several years ago, as a newly elected councillor, I was shocked by the high cost of placing children in private residential care. When I discussed this with friends and family, their reaction was largely one of disbelief that this had been allowed to persist. This situation highlights a widespread “robber baron” mentality that has been allowed to develop under the guise of the presumed efficiency of the private sector. Too often, this has become an opportunity for significant profit extraction from the delivery of crucial public services. As highlighted in Monbiot’s article, the adoption of such a model in the care of some of society’s most vulnerable is especially distressing and underscores the need for prompt policy reform. However, this is not a recent development, and substantive action from the government has yet to materialise. Continue reading...
If the UN has no need of Germany’s voice or influence, it may have no need of its large funding contribution either, writes Michael Pfeiffer Germany has failed, for the first time, in its bid for a non-permanent seat on the United Nations security council ( ‘Embarrassing’: pressure on Merz after Germany’s failure to win UN security council seat, 4 June ). In New York, the federal republic was defe...
If the UN has no need of Germany’s voice or influence, it may have no need of its large funding contribution either, writes Michael Pfeiffer Germany has failed, for the first time, in its bid for a non-permanent seat on the United Nations security council ( ‘Embarrassing’: pressure on Merz after Germany’s failure to win UN security council seat, 4 June ). In New York, the federal republic was defeated by Austria and Portugal – and by a clear margin. Did the countries that withheld their votes from Germany pause for even a moment to consider the consequences? Did they ask themselves whether it was wise to subject the second‑largest contributor to the UN – responsible for 5.27% of all state contributions – to such a public rebuff? Evidently not. Otherwise Germany would hardly have been so demonstratively humiliated. Continue reading...
Prof Kathy Willis responds to research showing that the poorest areas in the country face the deepest cuts to green spaces The new research covered in your report ( England’s poorest areas face deepest cuts to green space under planning law changes, report finds, 4 June ) highlights the stark inequalities that exist across England when it comes to accessing nature-rich places and unlocking the man...
Prof Kathy Willis responds to research showing that the poorest areas in the country face the deepest cuts to green spaces The new research covered in your report ( England’s poorest areas face deepest cuts to green space under planning law changes, report finds, 4 June ) highlights the stark inequalities that exist across England when it comes to accessing nature-rich places and unlocking the many health, wellbeing and economic benefits that they can provide. In short, the research has found that if you live in the poorest places in England, you are likely to have less or no access to nature. This is set to get worse because of government policy changes. Continue reading...
Dr Penelope Jackson , Sue Lewis and Fiona Willan respond to an article and letters on art overload I read with interest your article ( The hill I will die on: Let me tell you the one big problem with art galleries. There’s too much art, 30 May ) and the follow-up letters ( 5 June ) full of advice from readers. Everyone will have an opinion on how to visit an art gallery. Clearly, trying not to vie...
Dr Penelope Jackson , Sue Lewis and Fiona Willan respond to an article and letters on art overload I read with interest your article ( The hill I will die on: Let me tell you the one big problem with art galleries. There’s too much art, 30 May ) and the follow-up letters ( 5 June ) full of advice from readers. Everyone will have an opinion on how to visit an art gallery. Clearly, trying not to view everything on show is key here. But what people have failed to grasp is that if galleries don’t show a vast amount of their collection, they are criticised. For example, the National Gallery in London hangs about 40% of its collection, which is more than others such as Tate Britain, which has a tiny fraction on show at any given time. And the National Portrait Gallery would struggle to hang its entire collection . Galleries and museums are caught between a rock and hard place. They try to show as much as is logistically possible, but that doesn’t mean visitors have to eyeball each one. We should, however, be grateful that these cultural institutions collect and try to showcase as much as possible, for we don’t all like the same things. Dr Penelope Jackson Tauranga, New Zealand Continue reading...
AMD fires back at Nvidia, claiming 256-core Zen 6 'Venice' CPU beats Vera by 3.3x in rack-level performance — company shares first estimated EPYC Venice benchmarks Tom's Hardware
AMD fires back at Nvidia, claiming 256-core Zen 6 'Venice' CPU beats Vera by 3.3x in rack-level performance — company shares first estimated EPYC Venice benchmarks Tom's Hardware
There's something interesting going on in the stock market. The S&P 500 is hitting record high after record high, but of the 500 companies in the index, only about 20 are actually trading at their own all-time highs. The high-flying AI-linked megacaps -- companies like Nvidia , Microsoft , and Meta -- are pushing the index higher while hundreds of individual stocks from less flashy parts of the ec...
There's something interesting going on in the stock market. The S&P 500 is hitting record high after record high, but of the 500 companies in the index, only about 20 are actually trading at their own all-time highs. The high-flying AI-linked megacaps -- companies like Nvidia , Microsoft , and Meta -- are pushing the index higher while hundreds of individual stocks from less flashy parts of the economy are falling behind. I think it's a perfect time to diversify and broaden your exposure away from these AI names into more value-driven stocks. That's why, for my money, the smartest Vanguard exchange-traded fund at the moment is the Vanguard Value ETF (NYSEMKT: VTV) . Continue reading
Number Of US Home Sellers Hits Highest Level In 6 Years In May: Report Authored by Rob Sabo via The Epoch Times, Homebuyers held more leverage over sellers in May, with sellers outpacing prospective buyers in 35 of the nation’s 50 most populous metropolitan markets, according to a June 9 report from real estate brokerage Redfin . The number of sellers reached its highest level since 2020. Home sel...
Number Of US Home Sellers Hits Highest Level In 6 Years In May: Report Authored by Rob Sabo via The Epoch Times, Homebuyers held more leverage over sellers in May, with sellers outpacing prospective buyers in 35 of the nation’s 50 most populous metropolitan markets, according to a June 9 report from real estate brokerage Redfin . The number of sellers reached its highest level since 2020. Home sellers outnumbered buyers by nearly 47 percent for the month, up slightly from 46.4 percent in April, but retreating slightly from the peak of 49.5 percent in December 2025, Redfin researchers said. The numbers are in stark contrast to 2021, when there were 36.4 percent fewer sellers than buyers as mortgage rates under 3 percent sparked a buying frenzy. A typical buyer’s market has 10 percent more sellers than buyers, which gives prospective buyers greater negotiating power since there are an abundance of homes from which to choose. “While the gap between homebuyers and sellers has narrowed slightly since the end of last year, house hunters still have far more negotiating power and less pressure to make rushed decisions,” Redfin senior economist Asad Khan said. “Buyers in most of the country can be selective and ask for concessions, while sellers still need to price competitively to stand out.” There were more than 1.48 million sellers in May, up by 0.4 percent from the previous month and the highest number of home listings since 2020, Redfin noted. On the other side of the equation, just 1.01 million buyers were looking for new residences. Sellers entered the market in greater numbers in April in part due to a slight easing in mortgage rates, but buying demand compressed in May as mortgage rates crept higher, Redfin noted. The average 30-year fixed-rate mortgage for the week ending June 4 was 6.48 percent, Freddie Mac reported. At the end of May, however, that rate hit a year-high at 6.53 percent. Existing home sales increased by 3.2 percent in May, while total for-sale inve...
SparshFoto/iStock via Getty Images Even if the Strait of Hormuz happens to get back to normal in a month or two, the senior executives of the major oil companies involved in the Middle East are telling everyone that it will be a while before infrastructure is repaired. However, as I am writing this, I am wondering how long the latest ceasefire will hold. Ever since a ceasefire has been declared, f...
SparshFoto/iStock via Getty Images Even if the Strait of Hormuz happens to get back to normal in a month or two, the senior executives of the major oil companies involved in the Middle East are telling everyone that it will be a while before infrastructure is repaired. However, as I am writing this, I am wondering how long the latest ceasefire will hold. Ever since a ceasefire has been declared, fighting has broken out time and again. Should that fighting escalate during the “ceasefire,” there could be even more infrastructure damage before the whole thing settles down. I, personally, am with the camp that this Middle East problem will be like the problems before it and not be resolved easily. We have a lot of military victories that are not translating into a winning position when it comes to the Strait of Hormuz. It seems to me that it is far more likely that we did not come up with a comprehensive plan to solve the problem while considering all the possible complications before we undertook action against Iran. That actually fits with the United States foreign policy history. The specifics would be a general failure to understand how low on the list of priorities the suffering of the Iranian people is. Initially, there was talk of a regime change. Despite a long list of military victories, there is now no talk of regime change. That alone tells me that it will take a long time to settle the situation. We have killed a lot of leaders. But the basic organization would appear to still be in power. Combine that with the failure to deal with the Strait of Hormuz situation upfront (which might well have meant soldiers and an invasion of Iran), and you have a few steps backward despite the military victories. Oil Prices As a result, I see oil prices floating in the $100 range for about 3 years. I think it will take about a year to settle the Strait of Hormuz situation if we insist on diplomacy (even with a blockade). Thereafter, it is going to take roughly (very approxi...