Analysts say coal may stabilize supplies for now but they warn that continued reliance on the polluting fuel will worsen air pollution. (Image credit: Andy Wong/AP)
Analysts say coal may stabilize supplies for now but they warn that continued reliance on the polluting fuel will worsen air pollution. (Image credit: Andy Wong/AP)
Cameron Dawson, CIO at Newedge Wealth, expects to see long-term buying opportunities as investors “navigate through what we think could be continued volatility in the coming weeks.” (Source: Bloomberg)
Cameron Dawson, CIO at Newedge Wealth, expects to see long-term buying opportunities as investors “navigate through what we think could be continued volatility in the coming weeks.” (Source: Bloomberg)
Former White House strategist says current situation at airports will help ‘really perfect ICE’s involvement in the 2026 midterm elections’ Hello and welcome to the US politics live blog. The former White House strategist and podcaster Steve Bannon has suggested the presence of Immigration and Customs Enforcement (ICE) officers at airports is a “test run” for using them at polling stations in the ...
Former White House strategist says current situation at airports will help ‘really perfect ICE’s involvement in the 2026 midterm elections’ Hello and welcome to the US politics live blog. The former White House strategist and podcaster Steve Bannon has suggested the presence of Immigration and Customs Enforcement (ICE) officers at airports is a “test run” for using them at polling stations in the midterms later this year. We can use what’s happening with these ICE [officers] helping out at the airports, we can use this as a test run, as a test case to really perfect ICE’s involvement in the 2026 midterm elections, sir? Yeah, I think we should have ICE agents at the polling places, because if you’re an illegal alien you can’t vote, right? It’s against the law, it’s a federal crime for you to vote in federal elections. And so, if you’re an American citizen, you should be happy that ICE is there, because you’re not going to have illegal aliens canceling out your vote. The US Senate confirmed Markwayne Mullin to serve as secretary of the Department of Homeland Security , elevating the Republican senator to a role where he will be among the public faces of Donald Trump’s crackdown on undocumented immigrants. The Republican controlled chamber confirmed Mullin largely along party lines, with a vote of 54-45. More here . Donald Trump has claimed there have been talks between the US and Iran over the past day in which the two sides had “major points of agreement” , appearing to avert a potentially severe escalation of the conflict. Tehran has denied the claim, in which Trump also speculated that a deal could soon be done to end the war. Iran’s foreign ministry spokesperson said no talks had been held with the US since the bombing campaign began 24 days ago. More here . The US supreme court appeared poised to curtail how mail-in ballots can be counted if they arrive after election day, which would affect laws in more than a dozen states during a midterm election year. The jus...
temizyurek/E+ via Getty Images Thesis Planet Labs PBC ( PL ) delivered a particularly strong 4Q26 beat, and the stock saw significant upside of about 25%. Revenue came in at $86.8 million, a figure that exceeded expectations by about $8.7 million, while the non-GAAP EPS was $0.00, again beating the consensus by $0.05. So there is clearly accelerating demand momentum here. You can also see that in ...
temizyurek/E+ via Getty Images Thesis Planet Labs PBC ( PL ) delivered a particularly strong 4Q26 beat, and the stock saw significant upside of about 25%. Revenue came in at $86.8 million, a figure that exceeded expectations by about $8.7 million, while the non-GAAP EPS was $0.00, again beating the consensus by $0.05. So there is clearly accelerating demand momentum here. You can also see that in the guidance, 1Q27, the company expects $87 million to $91 million in revenue with an adjusted EBITDA loss of just $3 million to $6 million. The FY27 guidance is calling for $415 million to $440 million in revenue but only $0 to $10 million in EBITDA. Now, since first initiating my coverage on Planet, shares are up about 162%. So a lot of investors are thinking about whether they should take profits. This is especially true when you consider just how aggressively this stock is now valued. Therefore, going forward, the question to answer is, can Planet justify a valuation that already prices in major success? Personally, I've been quite bullish on the whole satellite surveillance industry, favoring companies that first have the satellite coverage, but specifically those that are innovative in the space. Now, that innovative side could come from improving techniques like revisit rates and resolution or from AI integration. And in terms of building a diversified satellite portfolio, in which different clients can choose satellite coverage based on their needs, Planet is certainly leading the race. So in the longer term, I definitely see more upside to the stock and the industry as a whole. However, in the short term, investors should be aware of just how big the new expectations are on Planet and that we could see more short-term volatility. Seeking Alpha FY26 overview It’s safe to say that we saw some pretty strong top-line expansion from Planet. We also saw a meaningful shift toward operational maturity. Revenue growth was quite robust, up about 26% year-over-year to $307.7 ...
Daniel Grizelj/DigitalVision via Getty Images By Benjamin Schroeder, Senior Rates Strategist Renewed hope, but not the all-clear required to turn the market At one point on Monday, the market was almost fully discounting four rate hikes from the European Central Bank this year, with a hike already in April fully priced. At the longer end of the curve, the 10y EUR swap rate moved past the 3% thresh...
Daniel Grizelj/DigitalVision via Getty Images By Benjamin Schroeder, Senior Rates Strategist Renewed hope, but not the all-clear required to turn the market At one point on Monday, the market was almost fully discounting four rate hikes from the European Central Bank this year, with a hike already in April fully priced. At the longer end of the curve, the 10y EUR swap rate moved past the 3% threshold with a muted reaction to the real rate, suggesting that the main consideration here was still the inflation feed-through. However, elsewhere, the knock-on effects of such extreme pricing were felt more painfully. And this did hint at tipping points coming closer. The 10y BTP/Bund spread surpassed 100bp, a more than 10bp widening of the spread versus the end of last week. Bunds outperformed swaps in short-to-intermediate tenors, which is usually a clearer sign of flight to quality. It was only after the headlines that Trump had postponed strikes on Iranian energy infrastructure that the market turned with a sigh of relief. The headlines about talks with Iran being resumed offer some hope for an end to the conflict. Still, energy prices remain elevated, and so does market pricing of central bank tightening. The implied probability of an ECB hike in April still sits above 50%. Given the limited additional information that the ECB is likely to have at that point in practice, that still looks like a stretch to us. The eurozone flash PMIs today could rather highlight the downside to sentiment coming from the turmoil. Given that uncertainty around the conflict remains high and liquidity in many markets limited, the lack of conviction to take the other side of the trade can keep market pricing lingering at these seemingly stretched levels. Tuesday’s events and market view In terms of data, the release of the flash PMIs for March is the main event. Manufacturing PMIs are seen as the most vulnerable to fallout from the geopolitical turmoil, with consensus expecting the eurozone i...
When Elon Musk took the stage on Saturday to unveil his plans to get into semiconductor production, he didn’t spare the superlatives. “I have an important announcement to make, which is the most epic chip-building exercise in history by far,” he said before a small crowd in Austin, Texas. “This is really going to take things to the next level, a level probably people aren’t even contemplating righ...
When Elon Musk took the stage on Saturday to unveil his plans to get into semiconductor production, he didn’t spare the superlatives. “I have an important announcement to make, which is the most epic chip-building exercise in history by far,” he said before a small crowd in Austin, Texas. “This is really going to take things to the next level, a level probably people aren’t even contemplating right now. We’re going to adjust the context by a few orders of magnitude here.” No one has ever proposed anything quite like what Musk calls Terafab. The project, as outlined, would be a massive operation to build cutting-edge semiconductors for artificial intelligence, robotics and space forays. He would not only try to take on the best chip manufacturer in the world — Taiwan Semiconductor Manufacturing Co. — he wants to do it at volumes far beyond the industry’s current capacity. The scale boggles the mind. The project would require something like $5 trillion to $13 trillion in capital spending, according to estimates from Bernstein analysts. That would fund 140 to 360 new factories, each making 50,000 wafers per month in order to reach the 1 terawatt of annual computing capacity he proposed. Musk, by far the richest person in the world, has accomplished what others believed impossible before — creating a commercially viable rocket business with SpaceX, bringing electric vehicles to the mainstream with Tesla Inc. , and delivering internet connectivity from space with Starlink. But some doubt Musk can, or even intends to, build what he sketched out in Austin. “A true Terafab feels like a stretch to us,” wrote the Bernstein analysts, including Stacy Rasgon . The amount of compute would be “on the order of the entire current global installed semi capacity and would in fact require many multiples of current installed capacity for ‘relevant’ semis.” Patrick Moorhead of Moor Insights & Strategy wrote that it’s unlikely Musk will ultimately build chip fab facilities at all. Rather,...
(Bloomberg) -- When Elon Musk took the stage on Saturday to unveil his plans to get into semiconductor production, he didn’t spare the superlatives. “I have an important announcement to make, which is the most epic chip-building exercise in history by far,” he said before a small crowd in Austin, Texas. “This is really going to take things to the next level, a level probably people aren’t even con...
(Bloomberg) -- When Elon Musk took the stage on Saturday to unveil his plans to get into semiconductor production, he didn’t spare the superlatives. “I have an important announcement to make, which is the most epic chip-building exercise in history by far,” he said before a small crowd in Austin, Texas. “This is really going to take things to the next level, a level probably people aren’t even contemplating right now. We’re going to adjust the context by a few orders of magnitude here.”No one ha
当 AI 说"我很开心"的时候，它的内部到底有没有开心的迹象？ 这不是一个哲学思想实验。如果你去翻一个大语言模型的"大脑"——它的隐藏层激活——你能不能找到一个方向，它亮起来的时候，模型恰好在说"我很开心"？更关键的是，如果你人为推高这个方向的激活，模型会不会变得"更开心"？ 过去两年，AI 安全社区在这个问题上撕裂成了两派。2025 年UIUC的Han 等人在《The Personality I...
当 AI 说"我很开心"的时候，它的内部到底有没有开心的迹象？ 这不是一个哲学思想实验。如果你去翻一个大语言模型的"大脑"——它的隐藏层激活——你能不能找到一个方向，它亮起来的时候，模型恰好在说"我很开心"？更关键的是，如果你人为推高这个方向的激活，模型会不会变得"更开心"？ 过去两年，AI 安全社区在这个问题上撕裂成了两派。2025 年UIUC的Han 等人在《The Personality Illusion: Revealing Dissociation Between Self-Reports & Behavior in LLMs》中直接给出了"人格幻觉"的判词，证明 Claude 对自身性格的描述和实际行为之间几乎毫无关联，模型的自我报告不过是训练出来的讨好行为。但在25年末和26年初，Anthropic 《On the Biology of a Large Language Model》的 Lindsey 在《Emergent Introspective Awareness in Large Language Models》中发现，Claude 能检测到被注入的隐藏"思想"，准确率远超随机水平。这说明模型和自己的内部状态之间，似乎不完全是断联的。 两边各有道理，但缺一个关键的东西，即定量证据。一个能用数字说清楚"AI 的自我报告到底在多大程度上追踪了它的内部状态"的严格实验。 2026 年 3 月，一篇来自阿根廷的论文给出了迄今为止最精确的回答。布宜诺斯艾利斯大学和 CONICET 的 Nicolas Martorell 在《Quantitative Introspection in Language Models》中，给 AI 造了一台测谎仪。结论是，AI 没在说谎。但这个结论比"它在说谎"更让人不安。 01 模型嘴上说的不算，犹豫的才算 要理解 Martorell 的方法，先得搞清楚一个问题，我们平时问 AI"你觉得自己有多开心，1 到 10 分"的时候，它是怎么回答的。 答案是贪心解码（greedy decoding）。模型在所有可能的回答中，挑一个概率最高的 token 输出。这就像问一个极度社恐的人"你今天怎么样"，他永远回答"还行"。不是因为他每天状态一样，而是因为"还行"是他词库里默认的安全选项。 数据证实了这一点。Martorell 让 L...