Tuesday, June 16, 2026

"GE Vernova, nVent best positioned for 800VDC technology, says Barclays" (GEV; NVT)

Lifted in toto from The Fly via TipRanks, June 9:

Barclays says the emergence of 800VDC technology in data centers seems to be “on the cusp” of commercial product launches. The technology’s emergence could be “quite disruptive,” particularly from 2028 onwards, the analyst tells investors in a research note. Barclays says Vertiv (VRT) has one of the broadest data center electrical equipment portfolios of any company globally, the highest data center percentage of sales in its coverage, and the highest percent of total sales accruing from data centers. There is still “substantial upside potential” to Street sales estimates for Vertiv and other data center suppliers for 2027 and 2028, the firm contends. 

However, Barclays believes the company and other data center suppliers could see a “sharp deceleration in growth” in 2029 and 2030 as the data center capacity additions may be levelling out by then. It assumes minimal impact from 800VDC in 2026 and 2027, saying penetration rates will likely be very low still. However, the impact increases sharply from 2028 onwards, according to Barclays. The biggest winner from higher voltages in the data center IT room could be GE Vernova (GEV), followed by nVent Electric (NVT), the firm predicts.  

https://www.thefly.com/home 

Previously: 

March 27 - Opportunity: "Data Centers Are Transitioning From AC to DC 800-volt DC power delivery: will enable next-gen AI data centers"
Change equals opportunity.

May 28 - Powering Data Centers: "Inside the 800VDC Revolution"

"Here's Where Electricity Prices Jumped The Most In America"

From/via ZeroHedge, June 5:

Electricity prices are becoming one of the fastest-rising household expenses in parts of America.

Using data from the U.S. Energy Information Administration (EIA), this map, via Visual Capitalist's Dorothy Neufeld, shows how residential electricity prices changed across all 50 states over the past year.

https://cms.zerohedge.com/s3/files/inline-images/Electricity-Price-Growth_Site-1.jpg?itok=IkXqkrjq 

The differences are striking. Washington D.C. saw electricity prices surge 23% year over year, over two times the national average increase of 10%, while several states in the West saw little change or outright declines.

Much of the pressure is being driven by rising grid investment costs and growing electricity demand, including from AI-related data center expansion in some regions....

***** 

....Electricity prices climbed significantly across much of America over the past year, but the increases varied significantly by region.

Several Mid-Atlantic and Northeastern states recorded some of the nation’s largest increases. Washington D.C. saw prices rise 23%, while New Jersey and New Hampshire both posted gains of 18%. Maryland followed at 17%.

For households in the hardest-hit states, electricity bills are becoming a larger budget concern. Unlike many consumer purchases, electricity is a recurring necessity, meaning even moderate price increases can quickly add up over a year.

Why Utility Costs Are Climbing Nationwide

Electricity prices are rising as America’s power grid faces growing strain from aging infrastructure and surging demand.

Utilities are investing billions into grid upgrades, transmission networks, and wildfire prevention projects, while electricity demand is accelerating due to AI data centers, population growth, and the shift toward electric vehicles and electric heating systems.

AI-related data center growth is becoming a major source of new electricity demand. In Maryland, for example, Amazon Web Services recently expanded its data center operations as utilities across the region race to keep up with rising power needs.....

....MUCH MORE 

Capital Markets: "The Dollar Holds above JPY160 after BOJ Hikes, Aussie is Firmer after RBA Stands Pat"

From Marc to Market:

Investors are still in the dark over the precise details of the memorandum of understanding between the US and Iran, but they apparently are sufficiently comfortable to take July WTI to a new two-month low, with August Brent at three-month lows.  Softer oil prices are helping ease interest rates, and peripheral European benchmark 10-year yields are at three-month lows. The 10-year US Treasury yield has fallen a dozen basis points since Monday, June 8. Most G10 and emerging market currencies are firmer today.

As widely expected, the Bank of Japan hiked its overnight rate to 1% and would stop tapering its bond purchase next April, stabilizing them around JPY2 trillion (~$12.5 bln) month.
The market leans toward another hike late this year. The dollar has held above JPY160 so far today. The Reserve Bank of Australia kept its policy rate steady at 4.35%. The market has around a 50% chance of another hike discounted in the fourth quarter. Chile’s central bank meets late today and is expected maintain its 4.5% overnight target rate....

....MUCH MORE  

"Meta launches $115M program to train workers to build AI data centers, then offers them a job" (META)

Despite the huge infrastructure spend,* Meta is at risk of being left behind by the two hyperscalers that seem to know what they want from AI, Google and Amazon.

In effect, unless Zuckerberg gets it together, he risks the Metaverse fiasco all over again.

From People Magazine, June 9:

"At Meta, we see this as an incredible opportunity for these American heroes to power America's future," the tech giant said 

NEED TO KNOW

  • Meta announced the launch of America's Workforce Academy, a free program that trains workers to construct AI data centers
  • Louisiana, Ohio, Indiana and Texas will serve as this year's pilot locations
  • The initiative comes as development of data centers is rapidly expanding across the country

Amid the controversy surrounding AI data centers, Meta, the parent company of Facebook and Instagram, is now looking to train future workers to build them under a new initiative that ultimately promises jobs.

Amid the controversy surrounding AI data centers, Meta, the parent company of Facebook and Instagram, is now looking to train future workers to build them under a new initiative that ultimately promises jobs.

Partnering with the National Urban League, the Associated Builders and Contractors, CBRE and others, the tech giant announced the launch of America's Workforce Academy on Monday, June 8.

About $115 million has been invested in the program's first year with Louisiana, Ohio, Indiana and Texas as the 2026 pilot locations, Meta said.

“The United States labor market needs hundreds of thousands of fiber technicians, welders, plumbers, electricians and other skilled trade workers,” the company said. “At Meta, we see this as an incredible opportunity for these American heroes to power America's future.”

Meta said that America's Workforce Academy program is free and open to “qualified veterans, recent graduates, career changers and other new entrants to the trades from all 50 states,” adding that no prior experience is required. 

The company said that it is funding all costs associated with the program, “with its operating partner administering the program to provide candidates with tuition, airfare, lodging, and a daily stipend during training.”

The program lasts five weeks, and a Meta data center construction job is guaranteed upon completion, Meta said, The Wall Street Journal reported....

....MORE 
*TheNextWeb, May 19:

Meta’s $200 billion Hyperion data centre in Louisiana is the most expensive private infrastructure project in American history  

"Biosphere lands Pentagon funding to build portable “protein from air” bioreactors"

Gimme that nitrogen.

From AgFunderNews, May 5

Biosphere—a California-based startup developing UV-sterilized bioreactors it claims can slash biomanufacturing costs—has won a grant from the US Dept of Defense (DoD) totaling $9 million over 3.5 years to fund the development of portable bioreactors producing protein via gas fermentation.

The move reflects a strategic focus on biomanufacturing at the DoD, which is exploring distributed production across multiple scales from skid-sized units to larger facilities for food, materials, and therapeutics in “contested” environments where securing supplies via normal channels is challenging.

This initiative will culminate in a prototype capable of continuous operation with UV sterilization protocols, water and media recycling systems, and downstream processing, says the firm, which was founded in 2022 by materials scientist Brian Heligman PhD and molecular biologist Arye Lipman.

While Biosphere’s core business is providing bioreactor tech to the fermentation industry enabling firms to ditch costly and complex steam-in-place sterilization systems, it has recently acquired IP from a distressed gas fermentation company making “protein from air” that it will deploy in the DoD project, Heligman tells AgFunderNews.

“We made a strategic acquisition that we will be announcing in the near future, but our focus is on making robust hardware systems that can reliably operate in automated ways with streamlined maintenance and operations.”

UV sterilization

For aseptic production biomanufacturing, bioreactors are typically sterilized between batches using capex-intensive steam-in-place sterilization systems characterized by a vast array of pipes and valves, boilers, and a lot of water.

By killing contaminants with UV light instead, firms can reduce capex and maintenance costs, speed up the sterilization process, and develop smaller, more productive bioreactors unconstrained by steam sterilization protocols, says Heligman.

To date, Biosphere has validated the tech at benchtop-scale, advanced pilot scale clean in place systems, and is now working on a 20,000-L demo scale facility, he explains.

Gas fermentation: not for the faint-hearted

The DoD contract around gas fermentation—using gases instead of sugars as feedstocks for microbes—creates room to experiment with more exotic bioreactor designs that would be harder to fund in purely commercial settings, says Heligman.

While gas fermentation technology is best-known for making fuel and chemicals (LanzaTechPhase Biolabs, and Again), it is also being used by several firms (CalystaCirceSolmeyeaAir ProteinSolar FoodsUnibioJooules) as a platform for food and feed production. LanzaTech is also moving into food and feed, having honed its tech for ethanol and specialty chemical production.

Using gases instead of sugars to feed microbes can lower input costs and allow for longer campaigns (because there is less risk of contamination), and potentially leverage waste or byproduct gases....

....MUCH MORE 

When it all started going downhill for Sweden

From The Register, February 29, 2008:

Swedes demand return of heraldic lion's todger
Nordic Battlegroup emasculated 

Disgruntled Swedish heraldists are demanding the Nordic Battlegroup reconsider a decision to emasculate their crest's lion which has seen the rampant beast relieved of his todger.

For those of you not up to speed on the shock case of the leonine penis outrage, the unit's commander - Karl Engelbrektsson - last December ordered the chop "having read UN Security Council Resolution 1325 on women, peace and security", according to The Local.

In a decidedly non-military act of political correctness, Engelbrektsson decided he "did not consider the male appendage an appropriate symbol for his troops to wear into battle" since female civilians were often at the receiving end of sexual abuse in the world's war zones.

https://image.theregister.com/207495.webp?imageId=207495&width=1412&height=678&format=webp 

Accordingly, the offending member (see pre and post-op pic), was given its marching orders.

This has not gone down at all well with staff at the National Archives....

....MORE 

Monday, June 15, 2026

Microsoft's Satya Nadella: "I’ve been thinking a lot about the future of the firm in an AI-driven economy."

 From Mr. Nadella's personal blog, SN Notebook, June 14:

A frontier without an ecosystem is not stable 

I’ve been thinking a lot about the future of the firm in an AI-driven economy.

This transition is different than any previous platform shift. In the past, we used digital systems to enhance human capital. This is the first time we can create a real cognitive loop between people and digital systems. That is a mind-bender, because it changes how we even conceptualize work inside an enterprise.

What is at stake is not some digital tool or system and its use, but how organizations continue to learn, build IP, differentiate, and thrive in a world where AI models can continuously absorb the expertise of humans and organizations and commoditize it.

Every company is going to have to build what I think of as human capital and token capital. Human capital comprises the knowledge, judgment, relationships, ingenuity, and pattern recognition of its people, while token capital is the firm’s AI capability it builds and owns.

Importantly, human capital does not become less valuable as token capital grows. It only becomes more valuable! I believe human agency will be the driver of token capital growth. Humans will set ambitious goals, connect dots across domains, build relationships, and recognize patterns that matter most. Without human direction, you have compute running in circles.

This means the real opportunity is not in picking the best model but instead in building a learning loop on top of models where human capital and token capital compound. You can offload a task, or even a job, but you can never offload your learning. The future of the firm is the ability to compound that learning across people and AI.

This requires a new architectural approach where every business is able to build agentic systems that improve over time, while still retaining control over their IP. A company should be able to switch out a “generalist” model without losing the “company veteran” expertise built into their learning system. This is the key “test” of your control and sovereignty in the era ahead.

Companies need to turn their workflows, domain knowledge, and accumulated judgment into AI systems that improve with each use. Private evals should capture whether a model is actually improving against outcomes that matter to the business (not just external benchmarks!). Private reinforcement learning environments should let models grow stronger on real traces from inside the organization. Its knowledge base makes institutional memory queryable and use of tokens more efficient.

This loop becomes the new IP of the firm. I think of it as a hill climbing machine. And unlike most assets, it compounds. Every improved workflow generates better training signal, which accelerates the accumulation of tacit knowledge unique to the firm. The companies that build this early will have an advantage that is hard to replicate, regardless of any new individual model capability.

The last thing any of us want is a world where every company across every sector is ceding value to a few models that eat everything they see. If all the value is accrued by only a few models, the political economy will simply not tolerate it. There is no societal permission for an AI future that hollows out entire industries.

Think about what happened in the first phase of globalization where entire industrial economies were hollowed out by outsourcing. The GDP numbers looked fine on the surface, but the displacement was real and the consequences are still being felt. Let us not bring that dynamic into the AI era, with a small number of AI systems capturing all the economic returns, while entire industries find their knowledge commoditized right out from underneath them....

....MUCH MORE

I take this essay to a direct shot at Anthropic and MSFT's erstwhile frenemy, OpenAI.

And maybe tangentially, at the economists who were so gung-ho on globalization and those who were reaping the rewards thereof. 

"China's industrial output growth quickens in May but retail sales and investment contract"

Who will buy?

Lifted in toto from Reuters, June 16:

China's industrial output rose ‌4.5% in May from a year earlier, picking up from 4.1% ​growth recorded in ​April, data from the National ⁠Bureau of Statistics (NBS) ​showed on Tuesday. 
The reading beat ​expectations of a 4.3% increase in a Reuters poll.
Retail sales, a ​key gauge of ​consumption, shrank 0.6% last month, reversing April's 0.2% rise ‌and below the estimated ⁠0%. It marked the first monthly fall since December 2022. 
Fixed-asset ​investment fell 4.1% in ​the ⁠first five months of 2026, following ​a 1.6% contraction ​in ⁠the January-April period. Economists had expected a 2% ⁠fall.
Singapore's Business Times leads with the retail sales angle:
 
China’s retail sales fall in May amid weak domestic demand, first decline in over 3 years 
The data shows two-speed economy with stellar exports but worsening domestic demand

China’s economy showed increasing unevenness in May, with retail sales falling for the first time in over three years while industrial output picked up pace.

Industrial output rose 4.5 per cent in May from a year earlier, picking up from the 4.1 per cent growth recorded in April, data from the National Bureau of Statistics (NBS) showed on Tuesday (Jun 16). The reading beat expectations of a 4.3 per cent increase in a Reuters poll.

A surge in global AI investment has helped the world’s biggest manufacturer offset the export hit many had expected from the Middle East turmoil, but a 19.4 per cent export gain has yet to filter through to domestic consumption....

...That fragility was evident in the auto sector. A downturn in domestic car sales extended into an eighth consecutive month in May, underscoring softening demand in the world’s largest auto market, where pressure is likely to persist through the rest of the year.... 

....MUCH MORE 

"How AI changes relative value in the academic knowledge economy"

From Lynne Kiesling's Knowledge Problem substack (Economics of organizations, regulation, and information. Technology, electricity, transactive energy, plus some market epistemology and 18th century political economy.), April 2:

AI, Price Theory, and the Future of Economics Research 

Source: ChatGPT upon reading this article

Economists spend their lives studying how people respond when circumstances change. It would be odd if we failed to apply the same logic to ourselves.

Artificial intelligence is not just another research tool. It is a technology shock to the academic knowledge economy. It lowers the cost of some inputs into research, raises the relative value of others, and begins to change what the profession rewards. That shift matters not only for how economists work, but also for which skills and forms of judgment are likely to become more valuable.

The old equilibrium
For the past several decades, economics has been shaped by a particular methodological equilibrium. The profession rewarded scholars who could assemble large datasets, digitize new sources of information, and use increasingly sophisticated econometric tools to extract credible causal estimates. This development improved economics in important ways by imposing discipline, raising standards of evidence, and moving the field away from loose speculation untethered from the world.

But tradeoffs are everywhere, including in research methods.

While also raising standards, the causal-inference era changed the kind of questions economists asked. Because credible identification strategies usually require narrow treatments, clean variation, tractable settings, and measurable outcomes, the profession gradually tilted toward questions that fit the available empirical machinery. The result has been a great deal of technically impressive work, but also, too often, a narrowing of intellectual ambition. Economics became more a field of data analysis and less a field of deeper inquiry into institutions, governance, organizational form, and the structure of human choice.

AI may now disrupt that equilibrium.

A growing number of economists have begun thinking seriously about what AI means for research. Anton Korinek has traced the progression from AI assistance on research micro-tasks to semi-autonomous agents that can work across multi-step workflows (JEL 2023, JEL 2025). Matthew Kahn emphasizes the fall in the fixed costs of pursuing ideas, Kevin Munger the rising importance of evaluation when production becomes cheap, and others have begun to map the broader consequences (for example, Alex Kustov, Scott Cunningham, and Chris Blattman’s Claude Blattman). I agree with much of that discussion. But the best way to understand what is happening is through price theory.

 A shock to relative prices...

....MUCH MORE 

May 9, 2011:

"Hayek’s birthday, Hayek’s week, Hayek’s century"
 
From Knowledge Problem:
Yesterday was F.A. Hayek’s 112th birthday, and as Hayek’s work inspired the name of this blog, and continues to inspire my work every day, I encourage you all to celebrate this anniversary by reading (or re-reading, I hope!) his seminal Use of Knowledge in Society (1945):
The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The economic problem of society is thus not merely a problem of how to allocate “given” resources—if “given” is taken to mean given to a single mind which deliberately solves the problem set by these “data.” It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.
Knowledge problem, indeed....MORE

I think our earliest link to Lynne was October 2009:

Transmission: "Economics for Tres Amigas" (AMSC; PNM)
As a follow-up to "Power Hub: Tres Amigas and the Future of Clean Energy" we have links to two Knowledge Problem posts. A bit wonky but good insight into whether AMSC scores off the proposal...

Reminder: "Big Tech profits are being inflated by stakes in private startups"

We saw this most egregiously with SoftBank.*

From Yahoo Finance, May 4:

The quality of Big Tech earnings may not matter much right now as everyone gets swept up into the AI boom.

But at some point — and this may come sooner than you think — investors will be questioning how strong Big Tech earnings really are. Currently, they're being boosted by rising valuations of stakes in private, smaller tech players. 

Talk about circularity in investing!

The numbers: "The hyperscalers' earnings growth this quarter was boosted by an unusually large contribution from equity stakes in private companies," Goldman Sachs strategist Ben Snider pointed out in a new note.

Alphabet (GOOG, GOOGL) and Amazon (AMZN) generated "other income" totaling $53 billion in the first quarter. This accounted for nearly 60% of those two companies' income in the quarter — and 34% of the total $155 billion in income this quarter across the five largest hyperscalers. This represents the group's largest collective share of earnings attributable to "other income" in at least a decade, Snider said.

Of this $53 billion in "other income," $49 billion was explicitly due to equity stakes in private companies.

Amazon, for example, holds a significant minority stake in Anthropic (ANTH.PVT), estimated at 15% to 20% of the startup.

Following its October 2025 restructuring, Microsoft (MSFT) holds a roughly 27% equity stake in OpenAI's for-profit business....

....MORE
*
If interested see:

February 12 - "Where Will SoftBank Get The Money To Fund Their Commitment To OpenAI?"

By writing-up their stake in OpenAI, naturellement.

May 13 - "SoftBank profit more than triples to $12 billion on OpenAI stake gains"

June 8 - "SoftBank’s Attempt to Get $6 Billion OpenAI Margin Loan Stalls"

El Niño: Hurricane Group At Colorado State University Lowers Expectations For Hurricanes; Named Storms And Landfalls

From the cat bond/ILS/re/insurance mavens at Artemis, June 10: 

CSU lowers Atlantic hurricane forecast for 2026, landfall probabilities also reduced

The Colorado State University (CSU) tropical meteorology team has issued the first update to its seasonal forecast for the 2026 Atlantic hurricane season, now calling for slightly less activity in terms of named storms and hurricanes and giving reduced probabilities of landfall in key regions, citing the increased likelihood of a moderate to strong El Niño as a primary factor.

At its June forecast update, the Colorado State University (CSU) tropical meteorology team has updated the numbers to call for 11 named tropical storms, 5 hurricanes and 2 major hurricanes this 2026 season.

That’s a reduction from the 13 named storms, 6 hurricanes and 2 major hurricanes it had called for back in April, when its first seasonal forecast was made.

In addition, the team’s forecast for Accumulated Cyclone Energy (ACE) for the 2026 hurricane season had been lowered to an Index value of 70 in the June update, from 90 at the April forecast.

The CSU team cites, “The increased likelihood of a moderate to strong El Niño as a primary factor for the prediction of 11 named storms (e.g., tropical storms and hurricanes), of which they anticipate five to become hurricanes and two to become major hurricanes (Category 3+ on the Saffir-Simpson Hurricane Wind Scale).

“These numbers are below the long-term seasonal average of 14, seven and three, respectively. For reference, the April forecast called for 13, six and two, respectively.”....

....MUCH MORE 

Capital Markets: "Investors Don't Wait for Details to Celebrate US-Iran Agreement"

From Marc Chandler at Bannockburn Global Froex, June 15:

The prospect of a deal between the US and Iran has bolstered risk-taking appetites today, even though the details are the agreement are not clear and Washington and Tehran seem to have different interpretations of what has been agreed.  Brent and WTI are near two-month lows. Stocks and bonds have rallied. The dollar has been sold and the PBOC set the dollar’s fix at a new three-year low.

At the end of last week, the US government ordered Anthropic to remove complete access to its new Fable 5 and Mythos new AI. The implications continue to be discussed. The US also added several large Chinese companies, including Alibaba, Baidu, and BYD to list of companies with alleged military ties. The most immediate implications are to restrict Pentagon procurement, but Beijing argues it is in violation of the recent agreement between Trump and Xi. Lastly, we note that Swiss voters rejected the referendum to cap the country’s population at 10 mln 55% to 45%. Still, the referendum does not appear to resolve the immigration issue....

....MUCH MORE   

"Samsung reportedly building brain chips for Elon Musk’s Neuralink"

From Samsung fanbois, Sammy Fans, June 15:

Samsung Foundry division has reportedly started R&D work on chips for the next-generation Neuralink brain implant. This is the first time Samsung has landed an order from the Musk-backed neurotechnology company.

The project carries the internal codename “O1”. Samsung is developing a 4-nanometer process to manufacture what would be Neuralink’s fourth-generation implant chips, reports Hankyung (via SemiconductorsX).

Sources say the work is already underway inside Samsung’s foundry operation. Winning Neuralink isn’t just a contract; it’s a signal. Samsung is planting a flag in biotech silicon before most foundries have even thought to look....

....MORE 

There was also some news on another of Mr. Musk's ventures last week. 

"Schneider Electric and Foxconn partner on AI data centers"

From Techzine, June 15:

Schneider Electric and Foxconn are partnering to develop infrastructure for AI data centers. The two companies aim to develop joint solutions designed to accelerate the construction and deployment of AI capacity. The first products resulting from the collaboration are set to go into production later this year.

The partnership brings together two distinct parts of the AI supply chain. Foxconn is one of the world’s largest electronics manufacturers and supplies hardware for AI systems, among other things. Schneider Electric focuses on power supply, cooling, and energy management in data centers.

The announcement comes at a time when demand for AI infrastructure continues to grow. The emergence of larger AI models and increasingly powerful computing clusters means that data centers not only need more computing power but also require greater investments in power supply and cooling.

Reference designs for AI facilities 
According to the companies, they will jointly develop reference architectures for AI data centers. This will involve exploring standard designs that can be applied globally. The partners are also investigating modular power and cooling systems and techniques to better align energy consumption with the load in AI environments.

Foxconn CEO Young Liu states that the rapid development of AI requires new ways to design and deliver infrastructure. By combining Foxconn’s production capacity and AI expertise with Schneider Electric’s power supply expertise, customers should be able to deploy AI capacity more quickly.

Energy Becomes a Limiting Factor 
For Schneider Electric, the focus is primarily on the increasing energy demands of AI systems. CEO Olivier Blum points out that the growth of AI directly drives demand for power and cooling. According to him, the link between IT infrastructure and energy management is therefore becoming increasingly important for operators of AI data centers....

....MORE

Schneider has been making some noteworthy moves this year:

April 17 -"6 Stocks That Can Benefit From the Massive Amount of Water That AI Data Centers Need"  

May 7 - FrenchTech: France's Schneider Electric In The News 

May 25 - French infrastructure Co., "Schneider Electric expects its India data-centre business to outgrow the rest of the company"

Sunday, June 14, 2026

"What’s new in biology: June 2026"

From The Works In Progress Newsletter, June 12:

The most effective weight-loss drug so far, cancer breakthroughs, gene editing for cholesterol, ancestral CRISPR systems, and more. 

We’ve been writing regular round ups for a little while now, but so much has happened recently that this month’s post feels like it contains a year’s worth of breakthroughs. So pour yourself something cool, get cosy, and enjoy!

First, everything new in cancer. In our round up last month, we shared the news of daraxonrasib, the new breakthrough drug that roughly doubles survival in late-stage pancreatic cancer, which has long been considered untreatable.

This past week, however, there were results from many more major cancer trials presented at the American Society of Clinical Oncology conference (ASCO 2026), and we wanted to share some highlights.1

One presentation showed 7 year results for lorlatinib, a precision drug for metastatic lung cancers: specifically, a type (ALK-positive) that’s common in non-smokers. You rarely see a survival curve like it. 55 percent of patients were still progression-free after 7 years, versus just 3 percent on the older drug crizotinib....

....MUCH MORE  

Most Recently from Works in Progress:

"OpenAI Considers Drastic Price Cuts, Anticipating War for Users With Anthropic"

From Financial News London, June 10:

The company might lower prices for tokens, the central unit for gauging AI costs, though the discussions are still in flux 

OpenAI is considering drastically lowering the prices it charges users as it seeks to win customers from its rival Anthropic.

The company is weighing significant cuts to what it charges for tokens, the unit of measurement artificial-intelligence firms use to bill for their products, according to people familiar with the matter. The move would be in anticipation of similar cuts the company expects at Anthropic, the people said.

Business executives have begun to balk at the high prices for AI usage. OpenAI Chief Executive Sam Altman said at a recent event that costs had become “a huge issue.”

“I think we’ll have a lot of ways we can help people get more value for less spend,” he said.

Drastic price cuts could potentially erode the profit margins of both companies, which already lose billions of dollars because of the enormous cost for computing resources needed for AI systems to process queries and carry out tasks.

OpenAI is trying to catch up with its younger rival in the race to win enterprise customers that are paying large amounts of money for AI tools that can improve workplace productivity. Anthropic’s revenue recently surged after its coding tool Claude Code went viral among software engineers, and the five-year-old startup surpassed OpenAI’s valuation for the first time. OpenAI has since made its own coding tool Codex a focus of the company....

....MUCH MORE 

Look Back In Anger: Masking And The SARS-CoV-2 Virus

The first half of the headline is the title of a 1958 play.

For our purposes it would more accurately be "Look Back In Rage" as the....well, let's get to the link before I...

From, of all places, Outkick, February 24, 2026:

Pro-Maskers Accidentally Admit Masks Don't Work, Debunking Anthony Fauci And Years Of Mandates 

It's obvious to anyone who paid even the slightest amount of attention to COVID outcomes that masks do not work. The evidence against masking is overwhelming, from the decades of studies that confirmed masks did not stop respiratory infections, to years of universal masking failing to stop or even moderately slow the spread of the virus during the pandemic. 

But there are a committed few, like Japanese soldiers continuing to fight years after the end of World War II, who are pushing for universal permanent masking. 

RELATED: Data From 2020 On Mask Usage Provides Yet Another Example Showing Masks Don't Work

For those who claim to follow science, their decision to ignore the evidence against masking is humiliating denialism. Akin to arguing against gravity or that the earth revolves around the sun. But in a remarkable feat of self-humiliation, some of the endless maskers wrote a lengthy letter to the World Health Organization that accidentally undermined the entire public health profession, their argument, and their religious leader, Anthony Fauci

https://images.outkick.com/static.outkick.com/www.outkick.com/content/uploads/2023/08/1336/752/GettyImages-1304108087.jpeg?ve=1&tl=1 

Forever Maskers Accidentally Admit Masks Don't Work
In a new letter to the WHO head, Tedros Adhanom Ghebreyesus, several mask fanatics, in an effort to promote the use of N95 respirators, claim that surgical masks do not "provide adequate protection against flu-like illnesses including COVID," according to The Guardian. The letter says that there is "no rational justification remaining for prioritizing or using" surgical masks, because they provide "inadequate protection against airborne pathogens."

Hilariously, one of the organizers of the letter, Professor Adam Finkel of the University of Michigan School of Public Health, also debunked one of the most popular pro-masking arguments. Anyone who argues against masking on social media has come across someone responding, "Well, if masks don't work, why do doctors wear them?" Ignoring, of course, that not all doctors wear masks, only surgeons do. 

But Finkel specifically highlights that those masks were never supposed to stop viruses or respiratory infections, but were "invented to stop doctors and nurses from sneezing into the guts and the hearts of patients."

Finkel went further, saying that surgical masks are to respirators as typewriters were to computers. Those masks, he continued, are "obsolete." 

So the forever maskers now admit that cloth or surgical masks do not stop airborne viruses. They admit that surgeons do not wear masks to stop respiratory viruses, and that wearing lower-grade masks, the exact type worn by the vast majority of the world for years on end to stop COVID, could not have possibly stopped COVID. Incredible. All the masking we did was never going to work, because surgical masks don't work. According to people pushing for permanent masking. 

And for reference, here's how disastrous this is for Fauci and all the advocacy he did in favor of cloth masking. 

In 2020, Fauci told the American Medical Association that "We need, as a nation, to show a degree of consistency of everybody following public-health recommendations on wearing masks or other face coverings...The goal should be universal wearing of masks." Masks or face coverings, he said. The exact type that his followers now acknowledge doesn't work. 

In April of that year, he told PBS that it doesn't matter what type of mask you wear, it just needs to be some type of "facial covering" in order to stop COVID.

"We want to make sure that this issue of having a broader community approach towards putting on a facial covering doesn't, in fact, get in the way of the primary purpose of masks... That's why what we're talking about are things that may not necessarily need to be a classical mask, but could be some sort of facial covering."

In that same interview, he said, "we’re talking about cloth or fabric masks," when recommending which type people buy. Then, of course, as masks were failing everywhere, he turned to recommending double masking, saying to layer surgical and cloth masks.

"If you have a physical covering with one layer, you put another layer on, it just makes common sense that it likely would be more effective," he said, defying science with one of the dumbest, most indefensible remarks from a public health expert in the history of the United States....

....MUCH MORE 

Anyone who had sixth grade biology knew how small a virus is and how ridiculous the idea of masks that were intended to stop spit bubbles, stopping a virus was, and they knew it in real-time, January/February 2020. Actually you didn't even need sixth grade biology. The outro from an earlier Outkick article, August 2022's "YouTube Now Allows Users to Say Masks Didn’t Stop COVID Spread":

It wasn't just the "experts". There was a whole tribe of twitteratti passing that misinformation around.

And then there was the smart-ass eight-year-old who asked "If I can smell a fart through the mask does that mean it's working or not?"

Go away kid, you bother me.

Combined with the quarantining of the healthy and this: "Six Years Ago: The Moment Millions Of People Lost Their Faith In Science" and...I'd better stop now.

"Is Jeff Bezos’ New Startup An Even Bigger Idea than Amazon? He Tells CNBC it Will Drive ‘Civilizational Wealth.’"

From 24/7 Wall Street, June 11:

Quick Read

  • Bezos co-founded Prometheus to compress the invention-to-manufacturing timeline, arguing it targets a larger market than Amazon (AMZN) by accelerating civilizational wealth creation.

  • Prometheus is private with no public shares, but semiconductor beneficiaries like Lam Research (LRCX) and KLA (KLAC) sit closest to the AI infrastructure boom it depends on.

  • Bezos calls an 'artificial general engineer' a decades-old dream that only became achievable recently, with Prometheus quietly building toward it since late 2024.

Jeff Bezos sat down with CNBC on June 11, 2026, to make the case that his next act could become even bigger than Amazon. As co-founder and co-CEO of Prometheus, Bezos is pitching a thesis that tries to answer one question: What actually makes societies rich? 

His answer is invention. "What drives the wealth of nations? What drives civilizational wealth? And the answer is invention," Bezos said. That framing is the philosophical foundation of Prometheus, a physical AI company aiming to compress the timeline between idea and manufactured object.

The Plow, the Steam Engine, and Now Software
Bezos reached deep into history to argue that breakthroughs in tools translate into broad-based prosperity. "6,000 years ago, somebody invented the plow, and we all got wealthier. Much later, somebody invented the steam engine, and we all got wealthier. These things drive productivity," he told CNBC. He argues that durable wealth comes from inventions that lift the productivity ceiling for everyone, not just the inventor.

Prometheus wants to be the next entry in that lineage. Bezos described the company's purpose this way: "Our goal at Prometheus, what we're working on, is building a set of tools that accelerate that invention loop. How long does it take to improve something? How long does it take from idea to actually manufacturing, to seeing it at rate and have a useful object?"

Time-to-market is the key variable they're looking to shrink. If a software platform can shave years off the path from concept to scaled production, the compounding effect across industries could be enormous....

....MUCH MORE 

On June 12th 24/7 Wall Street posted a follow-up that had the labor/jobs question in the headline: "Jeff Bezos’ New Venture Just Raised $12 Billion. He’s Betting AI Will Create a Physical Labor Shortage.

All of which echoes our old pal Stanley Jevons on coal usage: 

The outro from March 25's "Memory: "Google Breakthrough Spurs Chip Selloff Despite Analyst Doubt" (GOOG)": 

As noted exiting from January 2025's "ASML CEO Says DeepSeek’s Emergence Is ‘Good News’ for AI": 

Time was when even mentioning Jevons was anachronistic/borderline fuddy-duddy, e.g.

And he's brought his paradox.

And going back to 2009 because Jevons, like myself, tried to figure out a way to make some money off of Herschel's sunspot observations but (like myself) couldn't. Backlinks in April 2020's "Sunspots and Agricultural Production (William Herschel does a driveby)": including his (Jevons') 1879 submission to the journal Nature.

And back to Bezos, our June 11 post on the fundraising has a few of our backlinks on Prometheus:

"Bezos’ AI startup Prometheus raises $12B at $41B valuation, and the CEOs explain what they’re doing"

Saturday, June 13, 2026

"Westinghouse Goes For Broke"

Sometimes you just have to do it.

From Delancey Place, May 12:

Today's selection-- from Empires of Light by Jill Jonnes. George Westinghouse, chief competitor to Thomas Edison, made a bold gamble for the 1893 World Fair: 

“On Monday, May 16, George Westinghouse and Charles Terry arrived at the World's Fair's offices in the Rookery, a Burnham building on LaSalle Street, where almost two dozen men had assembled. Some were already nervously smoking cigars. Chief Burnham and the other members of the Committee on Grounds and Buildings were installed at a long table, where sat the sealed iron bid box. Sitting in other chairs were Captain Eugene Griffin, a second vice president for General Electric, and the firm's two local managers. 

Once Westinghouse and Terry were also seated, all waited expectantly as the bid box was unlocked and unsealed. Cigar smoke drifted about amid the low whispering. The final electrical joust was about to begin. Once again there were only two bids. General Electric's was read aloud first. Their new DC-only bid was $577,485, their new AC-only bid $480,694. As every man sitting in that Rookery office was well aware, these new General Electric bids were a shameless one-third the company's original $1,720,000 bid. There were various murmurings and men glancing at one another. Then, as the new Westinghouse bids were taken up to be read, silence descended, only the street noises filtering through. Westinghouse's bid for a combination of DC and AC was $499,559. The GE men squirmed and looked unhappy. Westinghouse was undercutting the trust. 

Westinghouse's AC offer for all ninety-two thousand lights was $399,000, $80,000 below the trust's best bid. Daniel H. Burnham, fair construction director and a forceful man of definite opinions, said promptly that the contract should go to Westinghouse. But the other committee members balked. One later memoir claimed that some were 'stockholders in the General Electric Company' still determined to see Coffin prevail. The committee retreated to a locked office. Hour after hour passed. The lights in the nearby buildings had gone dark. At 7:00 P.M., when the janitors began cleaning the halls and offices, the exhausted committee men agreed to reconvene the next morning. As they all left, Westinghouse said to a Daily Interocean reporter, 'There is not much money in the work at the figures I have made, but the advertisement will be a valuable one and I want it.' 

“And so, Tuesday morning, as the lovely spring weather held, the joust resumed at the Rookery. Captain Griffin of GE sulkily insisted that George Westinghouse could not possibly carry out the contract, because, reported the Chicago Tribune, 'his patents...were involved in litigation. [GE] had injunction proceedings instituted against the use of the lamp which Mr. Westinghouse proposed to furnish.' Westinghouse laughed affably, responding, 'There wasn't the slightest question about his ability to furnish the lamps desired.' Another fair director complained in exasperation to the Daily Interocean, 'For many years the Edison Company contented itself with flooding the country with circulars trying to ridicule the Westinghouse system. One morning it suddenly awoke to find it had a competitor. Now it says that if the contract is given to Westinghouse an injunction will head him off.... One moment's thought will show how great a bluff is made.'....

....MUCH MORE 

"Information overload is nothing new"

 From The Economist's 1843 Magazine, June 21, 2018:

Overflowing inboxes, endlessly topped up by incoming emails. Constant alerts, notifications and text messages on your smartphone and computer. Infinitely scrolling streams of social-media posts. Access to all the music ever recorded, whenever you want it. And a deluge of high-quality television, with new series released every day on Netflix, Amazon Prime and elsewhere. The bounty of the internet is a marvellous thing, but the ever-expanding array of material can leave you feeling overwhelmed, constantly interrupted, unable to concentrate or worried that you are missing out or falling behind. No wonder some people are quitting social media, observing “digital sabbaths” when they unplug from the internet for a day, or buying old-fashioned mobile phones in an effort to avoid being swamped.

This phenomenon may seem quintessentially modern, but it dates back centuries, as Ann Blair of Harvard University observes in “Too Much to Know”, a history of information overload. Half a millennium ago, the printing press was to blame. “Is there anywhere on Earth exempt from these swarms of new books?” moaned Erasmus in 1525. New titles were appearing in such abundance, thousands every year. How could anyone figure out which ones were worth reading? Overwhelmed scholars across Europe worried that good ideas were being lost amid the deluge. Francisco Sanchez, a Spanish philosopher, complained in 1581 that 10m years was not long enough to read all the books in existence. The German polymath Gottfried Wilhelm Leibniz grumbled in 1680 of “that horrible mass of books which keeps on growing”.

The solution was to develop a new set of mechanisms to classify and retrieve information. One example was the introduction, in the late 17th century, of scholarly journals that included book reviews, helpfully filtering and summarising (and in some cases excerpting) notable titles. The editor of one French journal noted in 1688 that reviews could act as a remedy for the “flood and overflow of books”. Another response was to expand the traditional canon of trusted authorities on particular topics, an idea dating back to antiquity, into more detailed bibliographies, or lists of recommended titles. And the centuries-old practice of prefacing longer works with a “list of headings” was refined and developed in two directions to help readers find passages of interest within individual books. Printed books, unlike manuscripts copied by hand, had fixed pagination. This allowed for detailed tables of contents, with page numbers, and indexes ranking subject headings alphabetically.

The development and adoption of these new tools took some time, and was not without controversy. As early as 1691, book reviewers were being accused of not having read the works under consideration. And writers fretted that jumping directly to particular passages meant that readers would fail to appreciate texts fully. Jonathan Swift complained in 1704 of people “who pretend to understand a book, by scouting through the index”, a trick he condemned as “index learning”. Some 18th-century authors even refused to allow their books to be indexed, to force people to read them all the way through. Fewer people worry about information overload from books these days. We accept that nobody can read everything. What were once clever new navigational tools now seem simple and obvious....

....MORE 

Closely related, information storage and retrieval:

Could You Use A Second Brain? "The Filing Cabinet: A Vertical History of Information"

***

Information Infrastructure: The Filing Cabinet
I admit it. I get a bit obsessive with information storage and retrieval. As noted in an April 2020 post:

"The FBI built a fake town to train agents for cyberattacks. It has a hospital, a power company, and 200 servers."

From The Next Web, June 13:

The 22,000 square-foot Kinetic Cyber Range in Huntsville simulates ransomware attacks on live systems as US cybercrime losses hit a record $20.9 billion 

https://media.thenextweb.com/2026/06/fbi-kinetic-cyber-range-replica-town-cyberattacks.avif 

TL;DR

The FBI built a 22,000 sq ft replica town to train agents on live cyberattacks. It has a hospital, houses, and 200 servers. 1,400 students trained since Feb 2025.

The FBI has revealed a 22,000 square-foot replica town on its Huntsville, Alabama, campus built to train law enforcement in simulating and investigating real-world cyberattacks. The Kinetic Cyber Range opened in February 2025 and has trained more than 1,400 students, including FBI personnel and partners from other federal and local agencies.

The facility features fully furnished houses, a hotel, a gas station and grocery store, a courthouse, a hospital, and a power company. It has roads and traffic lights. Every building is wired with functioning devices and systems that behave as they would in a real US community, while preventing any simulated attacks from escaping the facility.

The range includes a data centre with more than 200 physical servers, some running Windows, some Linux, reflecting the corporate environments investigators encounter during breach responses and search warrants. “They’re cold, they’re cramped, they’re noisy, they’re dark, they’re miserable,” said Dave Beachboard, the range’s programme manager, describing the conditions investigators need to train for....

....MUCH MORE 

Huntsville is home to NASA's Marshall Space Flight Center, hence the Saturn V Mart. 

Possibly related, May 18's "UN leads call to prepare ‘for when digital systems fail’

I see headlines like that and wonder if they know something that I should know.
And then I think "Nah, it's probably nothing."...
***
With the outro:

If interested see also "The WEF - Carnegie Endowment Cyber Threats Report" wherein the suggestion is made that the thing to do in anticipation of cyberattacks is merge the major banks, their regulators, and law enforcement into one entity.

And related:

"Japan Airlines to launch lunar transport service, allowing items to be preserved for the future"

I guess that will make the New York to Singapore flight that Singapore Airlines runs only the second longest commercial flight.

From Singapore's Straits Times, May 27:

https://cassette.sphdigital.com.sg/image/straitstimes/03087c03244c9125145d44c4b381af80a4cad7c644a3e24519a201dd5d444357 

Using ispace landers, Mobius Ark will carry regional specialties and products 
representative of local businesses to the Moon’s surface. PHOTO: ISPACE_INC/X

Japan Airlines (JAL) will launch a service to transport containers to the moon, the firm announced on May 26.

JAL will sell partitioned spaces within the containers to businesses and local governments, enabling them to pack and transport products, such as regional specialities, they wish to preserve for future generations.

This will be the world’s first lunar transport service operated by an airline, according to JAL. For the inaugural shipment, the company plans to load a special container onto a lunar lander to be launched in 2028 by the Tokyo-based start-up ispace....

....MUCH MORE 

"US Releases Information On Biolabs In Over 30 Countries, Including Ukraine"

 From Radio Free Europe/Radio Liberty, June 12:

The director of US National Intelligence (DNI) has released evidence that her office says shows "longstanding" United States government funding for more than 120 biolabs in over 30 countries where research on biological pathogens, some dangerous, is conducted.

"These biolabs include labs in Ukraine, which may be at risk of compromise due to the ongoing Russia-Ukraine war," the DNI's office said in a statement on June 12.

"For example, the Intelligence Community previously warned that a US-funded biolab in Ukraine likely housed dangerous pathogens and remained vulnerable to longstanding threats of Russian attack, seizure, or damage," it added.

The unusual move by Tulsi Gabbard came just days before her departure as DNI, which oversees an intergovernmental office set up to coordinate information sharing among the sprawling US intelligence community. It wasn't immediately clear why Gabbard was releasing the information. Nor was it clear that it contained anything new or revelatory.

For years, under something called the Cooperative Threat Reduction program, the US government has funded efforts to safeguard Cold War-era research programs -- mainly rooted in Soviet programs that developed biological and chemical warfare technologies.

Some of the holdover Soviet facilities were located in Kyiv, in Tbilisi, and other places around the former Soviet Union....

....MUCH MORE 

Here is https://www.dni.gov/files/BIOLAB_Slides.pdf 

We've gone from instant and complete denial that the labs existed to "the research was perfectly ordinary to safeguard public health." Or, "American funding was to make the biolabs more secure. That's all."

There is so much more to come. 

If interested see also:

May 20 - "U.S. probing whether Chinese companies cut production of shipping containers before COVID pandemic"

June 2 -  Flashback: China Began Hoarding Personal Protective Equipment Months Before The Covid-19 Pandemic Was Declared

As noted introducing May 28's "For the Public, Covid Is No Longer a Mystery":
Over the next six months there will be a lot of information coming out regarding coronavirus, Covid-19 and the responses thereto. A lot. 

"What it costs to deploy 1GW of Nvidia Vera Rubin infrastructure?" (a lot)

From Investing.com, June 12:

A Bernstein report estimates that building 1 gigawatt of AI data center capacity using Nvidia’s upcoming Vera Rubin architecture could cost roughly $47 billion [sic], highlighting the growing capital intensity of next-generation AI infrastructure. 

The report estimates a typical Vera Rubin NVL72 rack will cost about $9.1 million, above the widely cited $8 million figure. 

Analysts attributed the difference primarily to higher expected memory costs, particularly High-Bandwidth Memory (HBM), which they expect to become significantly more expensive by the time Rubin systems are deployed at scale in 2027.

Memory and storage are projected to account for roughly $3.2 million per rack, while GPUs remain the largest cost component at around $4 million. Networking infrastructure is expected to contribute another $1.2 million, with cooling and power delivery costs estimated at roughly $150,000 each.

Based on a rack power rating of 220 kilowatts and an estimated 3,557 racks per gigawatt, the report calculates rack-related costs of about $32 billion per gigawatt. 

Adding approximately $15 billion in physical infrastructure expenses brings the total AI data center capital expenditure to around $47 billion per gigawatt.

Despite rising costs, analysts see substantial gains in computing performance. 

The Vera Rubin NVL72 architecture is expected to deliver 2,520 FP8 petaflops per rack, compared with 720 petaflops for Nvidia’s Blackwell generation, implying significant improvements in compute capacity per dollar invested.

The report also argues that hardware depreciation, rather than operating expenses, increasingly drives data center economics. 

At an electricity cost of $0.15 per kilowatt-hour, running 1 gigawatt of AI data center capacity would cost roughly $1.3 billion annually in power, compared with about $7.9 billion in annual depreciation expenses under a six-year hardware life cycle....

....MORE 

Liquidity: "China's central bank to conduct 600-bln-yuan outright reverse repo operation"

Lifted in toto from Xinhua, June 12: 

BEIJING, June 12 (Xinhua) -- The People's Bank of China, the country's central bank, announced on Friday that it will conduct a 600-billion-yuan (about 88 billion U.S. dollars) outright reverse repo operation on Monday to maintain ample liquidity in the banking system.

The operation will have a fixed quantity and be carried out through interest-rate bidding, with winning bids determined at various price levels. It will have a tenor of six months, or 183 days, according to the central bank.

A total of 600 billion yuan of six-month outright reverse repos will mature in June. This implies that the central bank's upcoming operation constitutes a rollover of the same amount, ending three consecutive months of reduced volume operations.

Outright reverse repo operations, a tool the central bank introduced in October 2024 to manage liquidity in the national banking system, are conducted each month with a tenor of no more than one year.

"OpenAI under investigation by group of state attorneys general, source says"

From Reuters, June 12:

A coalition of U.S. state attorneys general has opened a sweeping ​investigation into OpenAI, a source familiar with the matter said ‌on Friday.
 
The ChatGPT maker was served on Friday with a subpoena seeking documents related to a wide range of its activities and the impact on users, including ​advertising, user engagement and retention, and the handling of consumer and ​health data, the source said.
 
The subpoena, sent by New York's ⁠attorney general, also seeks information on activities related to minors and ​seniors, deep learning models and internal company policies, the source added.
 
The probe ​represents the latest legal challenge for IPO-bound OpenAI, which is being sued by Florida for allegedly misrepresenting the safety of its ChatGPT platform.
The source declined to be identified while ​discussing the investigation, which has not been publicly announced.
 
An OpenAI spokesperson ​said: "AI is a new and powerful technology, and we work every day to safely ‌bring ⁠its benefits to people in a responsible way. We take the concerns raised by state attorneys general seriously and intend to engage constructively with their offices." 
The Wall Street Journal first reported the probe on Friday....
....MORE 
 
Possibly putting at risk:
 
Sanders: Give public 50 percent stake in AI companies 

Sen. Bernie Sanders (I-Vt.) on Monday said that he will soon introduce a bill proposing to give the public a 50 percent stake in large artificial intelligence (AI) companies. 

In a nearly seven-minute video message, the progressive senator said that he will introduce the AI Sovereign Wealth Fund Act “in the coming weeks.” He said that the legislation would give the public “a direct ownership stake” in the country’s largest AI companies via a one-time, 50 percent tax on their stocks.

“It would do two extremely critical things,” Sanders said of his legislation. “First, it would give the American people a direct role in determining the future of this technology. No longer would the future of AI be dictated by a handful of Big Tech oligarchs, while the rest of the world sits back and watches them do what they want.

“Secondly, it would guarantee that the trillions of dollars potentially generated by AI are used to improve the lives of all of us — not simply to make the richest people on Earth even richer.”...

....MUCH MORE at The Hill