News & Updates
The latest news and updates from companies in the WLTH portfolio.
Mirae Asset Shares Fall on SpaceX IPO Allocation Failure
Mirae Asset Securities recovers after initial drop; related stocks decline Shares of Mirae Asset Group affiliates are declining in early trading on the 15th following news that Mirae Asset Securities, which participated in the initial public offering (IPO) of U.S. space company SpaceX, failed to secure even a single share allocation. As of 9:38 a.m. on the same day, Mirae Asset Securities was trading at 53,100 Korean won, up 1.34% (700 Korean won) from the previous trading day. Mirae Asset Securities had initially fallen by over 3% immediately after the market opened, dropping to the 53,000 Korean won range, but later turned upward. Related stocks are also declining. Mirae Asset Life Insurance is down in the 2% range, while Mirae Asset Venture Investment is showing a decline in the 18% range. Earlier, Mirae Asset Securities participated as a domestic underwriter in the subscription for SpaceX's IPO shares. However, it was reported that the company failed to secure the final allocation. Originally, SpaceX had planned to allocate 2,314,815 shares out of the 555,555,555 Class A common shares it sold in this offering to Mirae Asset Securities. However, it was reported that Goldman Sachs, the lead underwriter, completely eliminated the allocation of IPO shares that were initially planned for Mirae Asset Securities and others during the final allocation process.
Anthropic Suspension Controversy
The sudden suspension of Anthropic's newest AI models, Fable 5 and Mythos 5, marks a turning point in the global technology race. Only days after launch, the US government ordered Anthropic to block access to the models for foreign nationals, citing national security concerns. Anthropic responded by disabling the models globally, arguing that selective enforcement was practically impossible. To subscribe please click here
SpaceX soars. Get out while you can, folks!
Much has been made of Elon Musk becoming a trillionaire following SpaceX's trading debut. But how will he handle bringing the secretive company into the glaring light? Days after tipping a bucket on the SpaceX IPO in Crikey, this embarrassed long-term owner of one SpaceX share is happy to acknowledge that the newly minted paper trillionaire Elon Musk has so far proved the sceptics wrong, after SpaceX's surprisingly smooth and strong trading debut on Friday night. But having made so many outlandish promises and predictions in order to extract US$75 billion from public investors, Musk now has to steer the notoriously secretive SpaceX forward in the full glare of public markets exposure -- with quarterly reporting, annual meetings and a daily measurement of the share price.
SpaceX Rings the Bell While Gold Hits Zero
Two numbers stuck with me from this conversation with Doug. SpaceX went public and minted the world's first trillionaire. And the gold miners' sentiment index hit zero -- literally zero, a number Doug says he's never seen. Euphoria on one side of the market, total despair on the other. On SpaceX: the stock opened at $135 and ran past $171, up about 30% on the day. Elon's stake alone was worth roughly $867 billion at the IPO price -- add Tesla and he's well past a trillion. Doug's glad it held, and so am I, because a SpaceX flop would've taken the rest of the market down with it. But neither of us is mistaking the party for health. When IPOs spike like it's 1999, somebody's ringing a bell at the top. We'll see if anyone's listening. (We also spent a minute on how absurd a trillion is. A billion pennies stacked would reach from New York to Palm Beach. A trillion gets you to the moon and back -- twice.) Then the part of the market we actually care about. On January 29 the gold miners' bullish index hit 100. On June 10 it hit zero. Doug's response is the only sane one I can come up with: it can't go lower, so he's buying, not selling. Oil's down there with it -- West Texas around $80, Brent around $84 -- even with Hormuz shut for more than 100 days. What's holding it down is China, which has quietly pulled close to 5 million barrels a day out of its imports. I asked Doug how that's even possible. Neither of us has heard a good answer. On inflation: official CPI ticked up to 4.2%, producer prices hotter still, and Doug's "personal CPI" is worse -- $140 for a simple dinner for three. Kevin Warsh runs his first meeting as Fed chair next week. The question I keep circling back to: who lends the government money for 10 or 30 years at 4-6% when the only exit from the debt is the printing press? The listener questions ranged wide: Costa Rica -- Doug lived there for months and has cooled on it. The place that pioneered the gringo-friendly tropics has gotten expensive and touristy. His pick in Central America today, if forced: maybe Panama. Tokenized gold -- Kinesis, Tether Gold, and others let you spend gold off a debit card backed by audited vault metal. Doug likes the concept -- it makes gold money again -- with one question I share: is it really yours, and can you actually redeem it? Ivanhoe Mines and Ebola -- A deadlier new Ebola strain is in the Congo. Doug's not worried about Ivanhoe; Katanga is effectively cut off from the outbreak zone. Lutnick, stablecoins, and Epstein -- Doug doesn't trust anyone orbiting Trump, and he doesn't think the worst of the files ever sees daylight. Humanoid robots -- Some 200 robot companies in China are racing on cheap EV battery tech. Doug's bet: five years from now we each have one standing behind us, doing what it's told.
Morning Wrap: ASX 200 to rise as S&P 500 climbs on SpaceX debut and US-Iran announce peace deal
Major US benchmarks closed higher and near session highs as Iran peace hopes and SpaceX's debut buoyed risk appetite Strong breadth with all sectors (except Healthcare) higher, Equal-weight S&P 500 (+0.91%) outperformed the cap-weighted benchmark by 41 bps SpaceX's record listing reopens the mega-IPO window, with former Nasdaq chief Robert Greifeld predicting OpenAI and Anthropic could follow with public debuts this year (YF) Chip and AI names were mixed, with pressure on ASML, Super Micro and Marvell, while Schwab strategists noted nearly half of 2026 US earnings growth is concentrated in tech (SCFR) Big stock swings signal choppy markets, driven by AI jitters and major IPOs influencing index movements (WSJ) Global banks limit hedge funds' leveraged bets on SK Hynix and Samsung amid concerns after rally and recent volatility(BBG) US bank stocks hit record high on Iran deal momentum, upcoming IPOs (BBG)
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SpaceX Bars China and Hong Kong Investors From Its Record IPO, Citing US Export Rules
The exclusion ties to ITAR defense rules, and analysts call it a sign of US-China decoupling. SpaceX, Elon Musk's space company, has excluded investors from mainland China and Hong Kong from what is set to be the largest IPO in history -- a rare restriction that several analysts read as a sign that the separation between the U.S. and China is spreading from trade into capital markets. The company is listing today on Nasdaq under the ticker SPCX, priced at $135 a share for a valuation near $1.75 trillion, with lead banks including Goldman Sachs, Morgan Stanley, JPMorgan, Bank of America, and Citi. Underwriters were instructed not to accept orders from investors in mainland China and Hong Kong, including private-banking clients, citing regulatory and compliance risks. The move -- first reported by Bloomberg and Reuters on June 5 as SpaceX began its roadshow, and followed up by the New York Times on June 11 -- is described as the first known instance of investors from those regions being effectively shut out of a major U.S. IPO. What ITAR Is, and Why It Forces the Issue The stated driver is U.S. export control. SpaceX's rockets and satellites fall under the International Traffic in Arms Regulations, or ITAR -- the U.S. rules that govern sensitive defense and aerospace technology and classify items like its Falcon and Starship rockets alongside military hardware. Because ITAR can impose strict compliance obligations and penalties around who gains access to controlled technology and the companies that build it, the underwriters' simplest way to manage that risk is to screen orders by jurisdiction and reject those from mainland China and Hong Kong. Users in those regions trying to reach SpaceX's website have reportedly been met with an "Error 1009" block. The restriction also fits a broader U.S. push, on national-security grounds, to tighten investment and technology transfer to China across advanced sectors including AI, aerospace, and semiconductors. It is worth noting the barrier is not entirely one-directional. Foreign investment is itself tightly restricted or off-limits in China's own space sector, which is closely regulated by the country's military -- so neither country currently grants the other open access to its most sensitive aerospace assets. How Beijing and Chinese Analysts See It From the other side, the curbs have drawn pushback. China Daily, a state-run outlet, reported that Chinese experts called the restrictions "baseless," describing them as a case of "capital decoupling" in which the U.S. is extending national-security concerns from physical technology into the capital markets themselves. Those experts argued the curbs could raise fundraising costs for U.S. companies that lose Asian capital, while urging Chinese firms to take note of the trend without pulling back from global markets. The framing of the moment as "decoupling" is contested and depends heavily on who is describing it; what is not in dispute is that a large pool of Asian capital has been formally locked out of a marquee listing. Why This Looks Like a Template, Not a One-Off The pattern extends beyond SpaceX. OpenAI, which filed confidentially for its own listing this month and is targeting a valuation of up to $1 trillion, is among the strategic-technology firms expected to face similar restrictions on Chinese capital when it reaches public markets; Anthropic, which filed on June 1, sits in a comparable position. Because all three have defense or national-security exposure through government work, observers expect the SpaceX approach -- underwriters screening out Chinese and Hong Kong orders -- to recur. A former White House technology-policy official told the New York Times the move is a clear signal that the U.S.-China split is underway not just in trade, but in technology and capital. The Access Gap Becomes Its Own Market Shut out of direct participation, Chinese investors have been chasing the listing by proxy. Reporting describes a scramble into Chinese aerospace firms and potential SpaceX subcontractors such as satellite-antenna makers, commercial-space ETFs, and offshore brokerage accounts -- and, more strikingly, into crypto-based instruments built to mimic exposure. These products are typically tokenized stakes in special-purpose vehicles, or tokens that simply track a company's value without conferring shares or voting rights. To buy them, many investors first convert renminbi into stablecoins such as USDT, a step that itself runs against Beijing's ban on converting fiat currency into crypto, then purchase the tokens on offshore platforms. The result is that the access gap itself becomes a market opportunity, with intermediaries selling synthetic exposure to the very deal those buyers cannot legally join. For SpaceX, the exclusion is a calculated trade-off rather than an existential one: U.S., European, Japanese, Korean, and other Asian capital remains fully accessible, and the offering has been reported as heavily oversubscribed. But as the first major U.S. listing to draw the line this explicitly -- with OpenAI and Anthropic lined up behind it -- the deal may be remembered less for its record size than for what it signals about how strategic American technology will go public in an era of restricted investment. Frequently Asked Questions Why are Chinese investors barred from the SpaceX IPO? SpaceX's underwriters instructed banks not to accept orders from investors in mainland China and Hong Kong, citing U.S. export-control compliance. Because SpaceX's rockets and satellites fall under the International Traffic in Arms Regulations (ITAR), screening out investors from those jurisdictions is a way to limit the legal risk those defense-technology rules create. What is ITAR? The International Traffic in Arms Regulations are U.S. rules that govern the export and handling of defense and aerospace technology, classifying items such as rockets and certain satellites alongside military hardware. Companies subject to ITAR face strict compliance obligations, which is why SpaceX's banks moved to restrict who could buy into the offering. How big is the SpaceX IPO? SpaceX is listing on Nasdaq under the ticker SPCX at $135 per share, valuing the company near $1.75 trillion and raising roughly $75 billion -- which would make it the largest initial public offering in history, surpassing Saudi Aramco's 2019 record. Some analysts, including Morningstar, have argued the valuation runs well ahead of the company's fundamentals. Are other companies expected to restrict Chinese investors too? Possibly. OpenAI and Anthropic have both filed confidentially for IPOs and, like SpaceX, have national-security exposure through government work. Observers expect that strategic-technology listings of this kind may apply similar underwriter restrictions on Chinese and Hong Kong capital, which is why the SpaceX deal is being viewed as a potential template.
With smooth SpaceX debut, Wall Street sets new template for mega IPOs By Reuters
By Anirban Sen, Nivedita Balu and Saeed Azhar NEW YORK, June 12 (Reuters) - A collective sigh of relief swept across Wall Street after trading for SpaceX's landmark Nasdaq launch went smoothly, setting a new template for the trading firms and exchanges that are bracing for the giant IPOs of OpenAI and Anthropic later this year. SpaceX's record-breaking debut on Friday dwarfed the previous largest flotation on U.S. exchanges by nearly three times. The sheer size of the launch had worried market participants who had lingering bad memories from the disastrous stock market debut of Facebook in 2012. However, trading systems at the banks underwriting the IPO, exchanges, market makers, clearinghouses, and other market infrastructure firms held up to the challenge of processing millions of client orders. "People go back to the Facebook ... days and 'was this going to turn into one of those companies,' but I honestly think the banks in the U.S. did a fantastic job, the SpaceX crew did a fantastic job telling the story when they did their rounds. And as you can see it went extremely smoothly," said Jeff Parks, CEO of Canadian investment firm Stack Capital Group. Nearly a third of Stack's portfolio is SpaceX, in which the company began investing in 2021. He was referring to the turbulence that surrounded Facebook's ill-fated IPO, when technical problems turned a landmark listing into one of Wall Street's most notorious trading fiascos. It left investors and brokers in limbo for hours and ultimately cost market makers hundreds of millions of dollars. According to Citadel Securities, the largest U.S. retail market maker, SpaceX's debut generated the highest retail order activity for an IPO auction ever. A Citadel Securities spokesperson said the firm handled the majority of the retail orders for SpaceX. Morgan Stanley, the so-called "stabilization agent" for the glitzy market debut, had the key role in managing SpaceX's market opening. The bank had to ensure an orderly rollout even as it grappled with unprecedented investor demand. A stabilization agent typically buys up shares in the open market to shore up stocks that witness steep declines on opening day. One of the lead underwriters advising SpaceX, who requested anonymity as the matter is confidential, said the IPO was a monumental event for the exchanges and the banks and crucial to get right. Trading platform Charles Schwab said it has seen well over a million orders in SpaceX in the first few hours of trading, which is a significant figure in comparison to past IPOs, according to a spokesperson for the company. Reuters reported on Thursday that Wall Street traders, brokers and exchanges had been stress-testing their trading systems for several weeks leading up to the blockbuster IPO. SpaceX shares "are not going up in huge blocks, but they're bleeding higher, and a lot of that is due to a little bit more of a boring and softer opening print than a lot of folks expected," said Mike Dickson, head of research & quantitative strategies at Horizon Investments. "I'm a little surprised there's not more volatility, given a lot of the oversubscription headlines." SMOOTH ROLLOUT Past trading debuts for large IPOs have often faced delays because exchanges must match enormous volumes of buy and sell orders before determining an opening price. For SpaceX, the stock started trading shortly before noon on Friday. That was relatively early compared to the recent IPOs of Cerebras Systems and Quantinuum, which opened later in the afternoon on their respective debut days. Barring some issues with early trading on Robinhood on Friday, Wall Street largely skirted the technical glitches that hampered Facebook's rollout in 2012 - much to the relief of Nasdaq, the market makers, and investors. "We all worked really well together. We did a lot of preparation with our banking partners," said Nasdaq CEO Adena Friedman in an interview with CNBC on Friday. "We made sure that we were talking to all of the firms throughout the process of preparing for this, and it came off really flawlessly."
SpaceX IPO: Indians queue up to invest more in US stocks
SpaceX's blockbuster initial public offering has ignited significant interest among Indian investors in US stocks, with trading volumes on platforms like Vested Finance and IndMoney surging by 20-25%. SpaceX raised $75 billion in its IPO at a valuation of over $1.7 trillion. The euphoria around the public listing of Elon Musk's SpaceX has piqued the interest of Indian investors in US stocks, with stockbroking platforms offering international stocks reporting a 20-25% surge in trading volumes. More than a fifth of the trading volumes since SpaceX's listing on Friday were for buying shares of Musk's rocket company, platforms such as Vested Finance and IndMoney said. "About 20% of trading volumes yesterday was just SpaceX, even though it listed mid-way into the US markets," Nikhil Behl, chief executive officer, stocks, at IndMoney, said on Sunday. The participation was broad-based across both new and existing investors, he added. Also Read: Elon Musk recalls SpaceX's journey from mere 10% chance of success to the world's biggest IPO SpaceX raised $75 billion in its initial public offering (IPO) at a valuation of over $1.7 trillion. The company shares opened at $150 per share and at its peak achieved a valuation of more than $2 trillion. Vested said 25% of all the users who traded in international stocks on the platform since late on Friday traded in SpaceX stocks while 15% of the total trading volume was for SpaceX shares. Overall trading volume was up 22%, it said in a statement. While the SpaceX IPO made Musk the world's first trillionaire, the euphoria around it is prompting several Indian investors to consider overseas investments, trade insiders said. Also Read: SpaceX: Five key moments, from first launch to Starship megarocket "A lot of new investors joined these platforms building up to the IPO of this company," a top executive at a domestic broking firm said. "Overall, the number of new investors joining the platform would go up significantly by the end of this month." The platforms are yet to compile their numbers in real terms, but the industry expects the momentum to continue for the entire week as there is a lot of chatter around SpaceX listing among Indian traders who wanted to grab a share of the pie. The enthusiasm in SpaceX is reflective of the larger trend around many AI companies, space-tech firms and other new-generation startups raising billions of dollars and peaking their valuations in the US. Also Read: States challenge Nasdaq, FTSE Russell for fast-tracking SpaceX Companies like Stripe, OpenAI, Anthropic and Databricks are all expected to go public over the next few years, which could drive more investor interest in the coming years, industry insiders feel. As per regulatory norms, Indians are allowed to ship $200,000 out of the country in a year under the liberalised remittance scheme (LRS). According to the Reserve Bank of India, in March 2026, under LRS Indians invested $440 million into global equity and debt investments. This number was up 43% from $306 million in March 2025. This comes at a time when regulations have also become friendly for buying shares of US-listed companies through the Gift City route. Platforms like Vested Finance and IndMoney, through the Global Access Provider (GAP) licence, have set up entities in Gift City, offering international investment opportunities for Indians. Founded in 2015, Mumbai-based Vested specialises in international stocks, exchange-traded funds and private market investments. As of April 2026, Vested said it has facilitated over Rs 25,000 crore in trading volume. Tiger Global and Steadview-backed IndMoney was co-founded in 2018 by Ashish Kashyap who was previously the founder of GoIbibo. Behl of Gurgaon-based IndMoney believes that the enthusiasm has not peaked yet and through the coming week, volumes in international trades will continue to be high.
Trump admin says Anthropic's 'recklessness' triggered export controls on latest AI models
AI giant Anthropic announces the public release of its Claude Fable 5 model, emphasizing new safety measures to prevent misuse. FOX Business' Madison Alworth reports industry leaders acknowledge its superior power compared to existing AI models. A senior Trump administration official tells FOX Business that Anthropic's "recklessness" in responding to issues with the company's latest artificial intelligence release led to export controls. The official says there are ongoing talks about fixing the vulnerabilities with the company's Fable 5, but claims the administration's interactions with Anthropic created a lack of trust. The official believes the experience damaged Anthropic's relationship with the government over its unwillingness to address the concerns. The export controls imposed by the Commerce Department forced the company to pull down its latest release. Anthropic received a letter from the Commerce Department saying its Fable 5 and Mythos 5 models were banned for use by any foreign national "inside or outside the United States," due to national security concerns. A source familiar with calls to Anthropic says the company brushed off the federal government's initial concerns. A source close to the company disputes that, adding it was not presented with any details and never refused to fix issues. ANTHROPIC FILES CONFIDENTIALLY FOR IPO After a flurry of phone calls on Friday, the official familiar with the outreach tells FOX Business the company claimed Anthropic CEO Dario Amodei was at a wellness retreat and could not be reached about the concerns. A source close to Anthropic denies there was a retreat, says the company's executives were not hard to reach and claims they were in touch with the White House within 15 minutes. Still, the senior administration official says Anthropic's reaction to potential issues led to the export controls, adding the government says the company did not take the request to fix issues seriously enough, given the expectations set before the Fable 5 rollout. The feeling within the Commerce Department, Treasury Department, and White House is that Anthropic could have avoided the drastic step of export controls by engaging on a deeper level. Multiple sources say the government made it clear to Anthropic that this release would be the first test case for the new executive order signed regarding AI guardrails. A Washington, D.C., tech policy expert tells FOX Business this is "government messaging 101" - that if a company is leading the conversation on AI safety, then appears reluctant to address any safety concerns, the administration will take a tough stance. AI LEADERS ARGUE SOFTWARE WILL ADAPT - NOT DIE - BUT VALUATIONS ARE STRETCHED Administration officials say the concerns were realized last week when Amazon AI experts were able to orchestrate a "jailbreak" on Fable 5 after it was released on June 9 alongside Mythos 5, the latter of which was only released to a limited group. Anthropic said the cyberattacking abilities of the new models were constrained, but Amazon and five other companies testing the release found a workaround in Fable 5 that opened the full cyber abilities of Anthropic's more advanced model. FOX Business reached out to Amazon for comment. Under its leadership, the Trump administration has taken an all-of-government approach to making sure new AI models meet national security standards. The export controls originated in the Commerce Department, but the Treasury Department is being increasingly looped in due to its knowledge of computer power and markets. A former Trump administration official tells FOX Business that President Donald Trump is business-friendly to a point, adding that if a company is slow to address issues, the president will force it to make the necessary changes. The former administration official expressed concern that the export controls will not be easily removed if Anthropic continues to brush off the issues being raised at the highest levels of government. AMERICA CAN'T COMPETE WITH CHINA IN AI WITHOUT THESE WORKERS, META'S PRESIDENT SAYS In a statement on June 12, Anthropic said, "We reviewed a demonstration of this specific technique being used to identify a small number of previously known, minor vulnerabilities. These vulnerabilities all appear relatively simple, and we have found that other publicly-available models are able to discover them as well without requiring a bypass." A source close to Anthropic says there were no details in the initial call with government officials, just a request to pull down the Fable 5 model within 90 minutes. The source adds that Amodei and other senior staff have been engaged from the beginning, there was no refusal to fix an issue and the company remains eager to resolve any concerns. GET FOX BUSINESS ON THE GO BY CLICKING HERE FOX Business has also learned Anthropic senior technical staff are in Washington, D.C., to meet with White House officials. Another source tells FOX Business virtual meetings have been held every day since the administration's initial outreach about the vulnerabilities.
Indian AI startups confront new risks after Anthropic pulls Fable 5 | Mint
Summary Most Indian AI startups build applications on top of foreign AI models, making them vulnerable to policy shifts and access restrictions. New Delhi: The abrupt withdrawal of Anthropic's advanced artificial intelligence (AI) model Fable 5 has rattled Indian startups that rely on foreign large language models (LLMs), raising concerns that access to critical AI infrastructure could be disrupted by decisions beyond their control. Fable 5 was withdrawn for foreign nationals after the US government directed Anthropic to suspend access to the model, citing national security concerns, although the company disputed the severity of the issue. Industry executives said it was the first known instance of an AI model being subjected to export controls, which had previously been focused on graphic processing units (GPUs) and advanced semiconductor chips. The incident has sharpened concerns among Indian AI startups about their reliance on foreign AI providers, highlighting the risks, founders say, of building businesses around models that can be restricted or withdrawn with little warning. Also Read | The AI price war is here, piling pressure on OpenAI and Anthropic The concern is particularly relevant in India. In February, Irina Ghose, managing director of India at Anthropic, said the country had become Claude's second-largest market globally. "Many founders, and even legacy institutions, are making a critical strategic error by treating AI wrappers as standard SaaS businesses," said Abhivardhan, managing partner at Indic Pacific, a law and policy research firm. Many AI startups build products on top of foundation models such as Anthropic's Claude, OpenAI's GPT and Google's Gemini rather than developing their own models. "In traditional SaaS (software-as-a-service), you own your software. In an API (application programming interface)-dependent wrapper model, you are entirely at the mercy of the model provider. If a provider suddenly changes its policies, degrades performance, or if a model such as Fable 5 faces a sudden usage ban, the dependent business could face immediate disruption, or even collapse," said Abhivardhan. Immediate fallout The disruption was immediate for some users. Suvrankar Datta, group lead at the Centre for Responsible Autonomous Systems in Healthcare (CRASH Lab) and faculty fellow at the Koita Centre for Digital Health, Ashoka University, said his team had planned to evaluate Fable against medical benchmarks it had developed. "We had already evaluated Opus 4.8 (Anthropic's flagship AI model), and we were planning to evaluate Fable against the medical benchmarks we had created. Now, of course, we no longer have access to it. Everything stopped. Our entire plan changed. We are no longer going to build benchmark tables or workflows around Fable. Instead, we're moving back to Opus 4.8 completely," he said. Aryan Grover, founder and chief executive officer (CEO) of VetoAI Technologies, a legal tech startup that builds AI agents for legal professionals, said the restrictions could leave Indian startups at a disadvantage if access to leading models becomes uneven across geographies. "What I envision is that once they sort things out domestically, they'll relaunch it for US nationals while keeping the rest of the world excluded. Since Fable is much better than Opus, it puts my team and me at an inherent disadvantage. There will be teams in the US building with Fable, while teams like ours won't have access to it," he said. Also Read | Spacetech firms dominate first disbursals under ₹1-tn innovation fund Founders say the brief disruption offered a glimpse of what could happen if access to a critical model were cut off for longer periods. "A blessing in disguise around the usage of Fable was, it was banned only after three days. It was only three days this time, but imagine if it had been a month. People would have built workflows around it. They would have assembled teams, assigned budgets, and become dependent on it. The consequences would have been much worse," said Akshat Jain, founder of stealth-mode real estate technology startup Stay. "When even the most safety-conscious AI labs must pull back their advanced systems due to vulnerability and jailbreak risks, it underscores that frontier AI deployment remains fundamentally bound to rigorous, unresolved security challenges. Irrespective of this specific incident, these events serve as a powerful catalyst for a much larger geopolitical shift," said Ganesh Gopalan, CEO and co-founder of Gnani.ai, a voice-first agentic AI startup selected by the IndiaAI Mission to build homegrown LLMs. "The fact that access to elite, centralized AI models can be disrupted overnight due to vulnerability findings or sudden regulatory shifts highlights a glaring vulnerability for businesses and nation-states alike. For security, strategic autonomy and operational continuity, countries and corporations across the world cannot rely solely on third-party, foreign-controlled AI stacks," Gopalan added. Some founders argue that open-source AI models could provide a hedge against sudden restrictions imposed by proprietary AI providers. Models such as Meta's Llama and Alibaba's Qwen can be downloaded and deployed independently, giving companies greater control over their AI infrastructure. Aditya Verma, co-founder and chief growth officer at Astroyogi, believes open source is part of the answer, but not the entire solution. "The whole point of open source is that anyone can use it, so it should be a way out. But the reality is that the most advanced proprietary models are still ahead in several areas. That's why we don't depend on a single model. We route different tasks to different providers and keep switching between them based on what works best. There's no point putting all your dependencies on one large LLM provider," he said. Seeking alternatives The episode is now prompting some startups to reassess how much they rely on any single model provider. "We use all available LLMs, but our philosophy is to build smaller private models so that we do not have to depend entirely on foreign or expensive models. We have been following this approach for the past year. Even though this may be a one-off case in the US, the possibility that it could happen again is something we should think about as a country," said Yatharth Garg, co-founder of NeuralEDGE.in, an AI consulting firm that aims to help businesses become AI native. Also Read | Ather taps govt's ₹1-tn innovation fund to counter rivals' incentive advantage Some founders are also considering reducing their dependence on Anthropic, citing previous scrutiny of the company by US authorities. Earlier this year, the Pentagon reportedly designated the company an "unacceptable supply chain risk." "My team and I are going to have a long discussion about this. One of the things we're exploring is whether we can shift more of our workloads to open-source models and reduce our dependence on Anthropic specifically. Because if this becomes a recurring trend, we need alternatives," said Grover. Beyond Anthropic Industry executives say the larger lesson extends beyond any one model provider. Instead, the episode has renewed debate over India's dependence on foreign AI infrastructure and the need to build more domestic AI capabilities. This is concerning as most Indian AI startups operate at the application layer rather than the infrastructure layer. According to the report 100 Top AI Start-ups in India, released by venture platform Activate, global diaspora network Indiaspora and consulting firm Zinnov, 47% of Indian AI startups operate at the application layer, compared with just 13% at the infrastructure layer. Because application-layer startups build on existing AI models rather than developing their own, many depend on foreign providers for core AI capabilities. The challenge is compounded by a funding gap. In 2025, Indian AI startups raised $860.2 million, compared with $129.1 billion in the US and $1.2 billion in China. "A nation that runs its AI economy on borrowed foundations risks exposure, and this dependency is unhealthy for long-term security. Sovereign capability is beyond just one national LLM. It is a full stack of frontier, small, and vertical models trained on how Indians actually live, work, and speak," said Pranav Pai, managing partner at 3one4 Capital, an early-stage deep-tech venture capital firm.
Use of AI for Iran school bombing doesn't violate Anthropic's 'red lines' - CEO -- RT World News
The use of AI in the US strike on a girls' elementary school in Iran that killed nearly 160 people, mostly children, did not violate Anthropic's 'red lines,' CEO Dario Amodei has said. US forces struck the school in Minab with a Tomahawk missile on the first day of the war on Iran in February. The institution was reportedly targeted based on outdated data used by Palantir's analysis and surveillance software, which incorporates Anthropic's Claude AI. In an interview with Bloomberg published on Wednesday, Amodei was asked whether his firm's AI had played a role in the deadly attack. "We don't know exactly how these models were used... and what you're talking about is a use case that doesn't even violate our red lines," he said. While AI assists the military, "a human made that final call," he added, stressing that Anthropic opposes entirely autonomous weapons and decision-making systems. The US military has admitted to actively using Palantir - named after the elven scrying orbs corrupted by Sauron in Tolkien's 'Lord of the Rings' - to pick targets in the war on Iran. Last month, the Pentagon announced that it had inked deals with top US AI companies, including Google, Amazon Web Services, SpaceX, OpenAI, NVIDIA and Microsoft. Just weeks earlier, Palantir CEO Alex Karp proclaimed a "new era" of AI-enabled US military supremacy. According to Google whistleblower and Palantir insider Zach Vorhies, AI giants' defense of surveillance and the use of AI in warfare is a "catch-22." "It's like, 'hey, look, if we... get very accurate data of your country, then we won't bomb a school for girls,'" he told RT on Thursday, while discussing reports that data secretly harvested from Pokemon Go players over many years was likely used to enhance US military mapping capabilities. "The way that they're framing this in that if they don't have good information, they're just going to have collateral damage," Vorhies said, warning that US AI giants are pushing to be increasingly deregulated in pursuit of a military advantage.
Anthropic pulls its most advanced AI models, including Mythos, after US bars foreign access
ANTHROPIC has disabled access to its most advanced artificial intelligence models, including Mythos, following an unprecedented order by the Trump administration to keep the technology out of the hands of all foreign nationals. The US government told Anthropic to suspend access to the Fable 5 and Mythos 5 models by any foreign national "whether inside or outside the United States," citing national security concerns, the company said in a statement. A US official confirmed the Commerce Department sent the letter. The model developer has since shut off access to both systems to all customers to ensure compliance. Never before has the US government taken such sweeping measures to rein in foreign access to frontier AI models developed by an American company. Both the Trump and Biden administrations have limited access abroad to other consequential technologies such as semiconductors and supercomputers, and some have debated the merits of blocking access to AI models. But restrictions on the software itself have raised constitutional and commercial concerns. Anthropic said it believes the US government issued the order after discovering that it is possible to "jailbreak," or bypass the guardrails, of Fable 5, a recently released version of Mythos that the company blocked from carrying out cybersecurity tasks. "We disagree that the finding of a narrow potential jailbreak should be cause for recalling a commercial model deployed to hundreds of millions of people," Anthropic said in its website post. "If this standard was applied across the industry, we believe it would essentially halt all new model deployments for all frontier model providers." Vulnerabilities in Anthropic's model Researchers at Amazon.com had conducted jailbreak research that revealed some vulnerabilities in Anthropic's model, according to a report in the Wall Street Journal. Amazon and the US government were in contact about the vulnerability before the controls were imposed, according to people familiar with matter who were granted anonymity to discuss sensitive conversations. Amazon CEO Andy Jassy was involved in those exchanges, one of the people said. The Information reported earlier that Jassy raised concerns to senior US officials. An Amazon spokesperson said it is not uncommon for governments to consult with the company on security risks, but declined to share details of any such discussions. The government's move to so widely restrict access to a set of AI models in the name of national security threatens to set a precedent for all major AI model developers including OpenAI, Alphabet's Google and Meta Platforms. Industry leaders such as Nvidia chief executive officer Jensen Huang and OpenAI CEO Sam Altman have in the past encouraged the US government to instead promote worldwide adoption of American AI systems and protect the nation's lead. "For anyone who was naive and perhaps hoping that this leverage wouldn't be exerted, it's a massive wake-up call," Aidan Gomez, the co-founder of Cohere, a Nvidia-backed AI startup, said on Saturday (Jun 13) in an interview. "No one can deny it any more." Anthropic said it received the government order at 5:21 pm New York time on Friday. The end-of-day directive runs counter to earlier statements, as well as an executive order recently signed by US President Donald Trump, which suggested the administration would not pursue a licensing regime for model reviews. Friday's directive also threatens to escalate longstanding tensions between Anthropic and some within the Trump administration. Earlier this year, the AI developer clashed with the US Pentagon over the use of its technology for military and surveillance purposes. The administration declared the company a US supply-chain risk as a result of the blowup and ordered US agencies to phase out the use of its products. Too risky to distribute more widely Privately held Anthropic, which has long positioned itself as a more responsible AI developer, first released its Mythos model in April to a very limited group of companies and institutions, warning that its ability to find cybersecurity vulnerabilities made it too risky to distribute more widely. There were signs that the limited release was working to ease tensions between Anthropic and the Trump administration: In April, the US government was preparing to make a version of Mythos available to major federal agencies, Bloomberg previously reported. Mythos also accelerated the Trump administration's efforts on AI policy, which included the recent executive order that called for voluntary model review. That order explicitly said that nothing in it should be construed as creating a mandatory licensing regime. David Sacks, Trump's former AI czar and current co-chair of the President's Council of Advisers on Science and Technology, said that Anthropic refused to fix a jailbreak of the guardrails in its Fable model. "The Admin's hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release," he wrote in a post on X. "The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn't wanted to comply with safety requests that it previously said were its highest priority." The latest government restriction is colliding with a race among US AI developers to deliver the most advanced AI models and prove to their investors that the technology can turn a profit. Both OpenAI and Anthropic are seeking initial public offerings as soon as in 2026, following SpaceX's own historic IPO. The rush to deliver the most cutting-edge AI models spurred Anthropic itself to post a lengthy blog earlier in June, calling for the creation of a system in which governments and AI developers collectively decide when to slow work on the technology to stave off the risks it may pose. "It would be good for the world to have the option to show or temporarily pause" AI work that may be dangerous, the company said in the post at the time. AI is advancing to the point where the technology can make human work thousands of times more efficient or even replace it, creating a new set of risks, the company said. The European Union's executive arm said that it is assessing Anthropic's statement and is continuing to talk to allies about the potential risks and cybersecurity concerns related to powerful new AI models. The European Commission added that the latest developments underline Europe's need for technological sovereignty. 'As a person in the field, I'm not particularly thrilled to see this," said Cohere's Gomez. "I don't think this is partnerly, I don't think this is the right thing to do for the broader technological alliances that have developed over the course of the past 80 years." BLOOMBERG
SpaceX rockets to $2.1 trillion valuation on stock market debut
SpaceX shares rocketed after Elon Musk kicked off the biggest stock market listing in history, valuing the company at more than $2tn. The rocket company's stock surged by 25pc when it began trading on the Nasdaq in New York after successfully raising $75bn (£56bn) through its initial public offering (IPO). Investors who were able to get hold of stock at the initial $135 price saw the company's shares leap to $169 in opening trading as they floated on public markets for the first time. SpaceX's new valuation on Friday minted Mr Musk, its founder and chief executive, as the world's first trillionaire. Thanks to his SpaceX stock and his shares in electric car business Tesla, Mr Musk's net worth now sits just north of $1tn. As his colleagues rang the opening bell on the Nasdaq on Wall Street, Mr Musk said he had expected the company would fail, making an appearance via video link from the company's Starbase headquarters in Texas. He said: "If people had told me this was going to happen, I was like: man you must be smoking some really good crack - cause I think this company is going to fail. "I gave SpaceX less than a 10pc chance of succeeding at all. In fact I told people this: it is probably going to fail, but, you know, we should give it a try." Demand for SpaceX shares far outstripped supply before its listing, with retail investors alone placing bids for $100bn-worth. British armchair investors secured 2.7 million of the 555 million shares sold before the listing, each valued at $135 - or £100.65 - for a total of £271m. Some analysts have argued that SpaceX is vastly overvalued, with much of its potential tied up in "moonshot" projects such as launching AI data centres into orbit and mining on asteroids that may never succeed. 08:29pm Signing off... Thanks for following our coverage of SpaceX's public float, which has turned Elon Musk into the world's first trillionaire. The listing on the Nasdaq saw SpaceX's share price surge by over 30pc on its first day of trading. SpaceX shares are currently up by almost 23pc, at prices of more than $165 per share. Shares in the rocket making company initially started trading at $135 per share this morning. The public listing has now turned Mr Musk into the world's first trillionaire. 08:15pm US stocks rise as oil prices fall America's leading stock indices all rose on Friday as oil prices fell on easing tensions between the US and Iran. As of Friday afternoon, the S&P 500 was up 0.5pc, the Dow Jones Industrial Average was up 0.8pc and the Nasdaq 100 was up 0.7pc.
Anthropic cuts access to AI models over US 'national security' order
Anthropic said Friday it has suspended access to two powerful AI models, Fable 5 and Mythos 5, to comply with a US national security order. Just three days after publicly launching Fable 5, the company said in a blog post that it received a government directive banning all foreign nationals, even ones who work at Anthropic, from accessing Fable 5 and Mythos 5 over national security concerns. "The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance," it said. The company said it received the letter at 5:21 pm (2121 GMT) Friday. Axios reported that the letter came from US Commerce Secretary Howard Lutnick. The US Commerce officials did not immediately respond to a request from AFP. The firm said that the letter did not state what specifically concerned the government. However, the firm's "understanding is that the government believes it has become aware of a method of bypassing, or 'jailbreaking'" the Fable 5 model such that it could aid hacking. Fable 5, released Tuesday, is a locked-down version of Mythos 5, a cutting-edge AI model that Anthropic has held back from the public amid concerns that it had unprecedented abilities to identify software vulnerabilites -- or holes in code that hackers could exploit Mythos 5 -- the unrestricted model -- has only been released to select companies. The European Union, which gained access to Mythos earlier in June after weeks of talks, said the latest development further underlined "Europe's need for technological sovereignty". "We take note of Anthropic's statement and are assessing," said Thomas Regnier, a spokesman for the European Commission, which this month unveiled measures to slash the 27-nation bloc's dependence on America and Asia for key technologies, including AI. Anthropic said it had reviewed the "jailbreaking" method at the center of the speculation and the hacking opportunities it exposed, but it does not believe Fable 5 gives hackers capabilities that are not already available through other public models. The firm said that none of its security testers had found a "universal jailbreak," or a way to bypass it's safeguards against helping hackers. "We disagree that the finding of a narrow potential jailbreak should be cause for recalling a commercial model deployed to hundreds of millions of people," the company said. "If this standard was applied across the industry, we believe it would essentially halt all new model deployments for all frontier model providers." Anthropic has been locked in a legal standoff with the Trump administration for refusing to allow its technology to potentially be used for mass surveillance and autonomous weapons, leading the Pentagon to cut contracts with the company.
Anthropic shuts down Mythos access after sweeping U.S. order
Add Yahoo as a preferred source to see more of our stories on Google. Anthropic PBC has disabled access to its most advanced artificial intelligence models, including Mythos, following an unprecedented order by the Trump administration to keep the technology out of the hands of all foreign nationals. The U.S. government told Anthropic to suspend access to the Fable 5 and Mythos 5 models by any foreign national "whether inside or outside the United States," citing national security concerns, the company said in a statement. A U.S. official confirmed that the Commerce Department sent the letter. The model developer has since shut off access to both systems to all customers to ensure compliance. Never before has the U.S. government taken such sweeping measures to rein in foreign access to frontier AI models developed by an American company. The Trump and Biden administrations have limited access abroad to other consequential technologies such as semiconductors and supercomputers, and some have debated the merits of blocking access to AI models. But restrictions on the software itself have raised constitutional and commercial concerns. Anthropic said it believes the U.S. government issued the order after discovering that it's possible to "jailbreak," or bypass the guardrails, of Fable 5, a recently released version of Mythos that the company blocked from carrying out cybersecurity tasks. "We disagree that the finding of a narrow potential jailbreak should be cause for recalling a commercial model deployed to hundreds of millions of people," Anthropic said in its website post. "If this standard was applied across the industry, we believe it would essentially halt all new model deployments for all frontier model providers." Researchers at Amazon.com Inc. had conducted jailbreak research that revealed some vulnerabilities in Anthropic's model, according to a report in the Wall Street Journal. Amazon and the U.S. government were in contact about the vulnerability before the controls were imposed, according to people familiar with matter who were granted anonymity to discuss sensitive conversations. Amazon Chief Executive Andy Jassy was involved in those exchanges, one of the people said. The Information reported earlier that Jassy raised concerns to senior U.S. officials. An Amazon spokesperson said it's not uncommon for governments to consult with the company on security risks, but declined to share details of any such discussions. The government's move to so widely restrict access to a set of AI models in the name of national security threatens to set a precedent for all major AI model developers including OpenAI, Alphabet Inc.'s Google and Meta Platforms Inc. Industry leaders such as Nvidia Corp. Chief Executive Officer Jensen Huang and OpenAI CEO Sam Altman have in the past encouraged the US government to instead promote worldwide adoption of American AI systems and protect the nation's lead. "For anyone who was naive and perhaps hoping that this leverage wouldn't be exerted, it's a massive wake-up call," Aidan Gomez, the co-founder of Cohere Inc., a Nvidia Corp.-backed AI startup, said Saturday in an interview. "No one can deny it any more." Anthropic said it received the government order at 5:21 p.m. New York time on Friday. The end-of-day directive runs counter to earlier statements, as well as an executive order recently signed by President Trump, which suggested the administration wouldn't pursue a licensing regime for model reviews. Friday's directive also threatens to escalate long-standing tensions between Anthropic and some within the Trump administration. Earlier this year, the AI developer clashed with the Pentagon over the use of its technology for military and surveillance purposes. The administration declared the company a U.S. supply-chain risk as a result of the blowup and ordered U.S. agencies to phase out the use of its products. Privately held Anthropic, which has long positioned itself as a more responsible AI developer, first released its Mythos model in April to a very limited group of companies and institutions, warning that its ability to find cybersecurity vulnerabilities made it too risky to distribute more widely. There were signs that the limited release was working to ease tensions between Anthropic and the Trump administration: In April, the U.S. government was preparing to make a version of Mythos available to major federal agencies, Bloomberg previously reported. Mythos also accelerated the Trump administration's efforts on AI policy, which included the recent executive order that called for voluntary model review. That order explicitly said that nothing in it should be construed as creating a mandatory licensing regime. David Sacks, Trump's former AI czar and current co-chair of the President's Council of Advisers on Science and Technology, said that Anthropic refused to fix a jailbreak of the guardails in its Fable model. "The Admin's hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release," he wrote in a post on X. "The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn't wanted to comply with safety requests that it previously said were its highest priority." The latest government restriction is colliding with a race among U.S. developers to deliver the most advanced AI models and prove to their investors that the technology can turn a profit. Both OpenAI and Anthropic are seeking initial public offerings as soon as this year, following SpaceX's own historic IPO. The rush to deliver the most cutting-edge AI models spurred Anthropic itself to post a lengthy blog earlier this month, calling for the creation of a system in which governments and AI developers collectively decide when to slow work on the technology to stave off the risks it may pose. "It would be good for the world to have the option to show or temporarily pause" AI work that may be dangerous, the company said in the post at the time. AI is advancing to the point where the technology can make human work thousands of times more efficient or even replace it, creating a new set of risks, the company said. The European Union's executive arm said that it's assessing Anthropic's statement and is continuing to talk to allies about the potential risks and cybersecurity concerns related to powerful new AI models. The European Commission added that the latest developments underline Europe's need for technological sovereignty. '"s a person in the field, I'm not particularly thrilled to see this," said Cohere's Gomez. "I don't think this is partnerly, I don't think this is the right thing to do for the broader technological alliances that have developed over the course of the past 80 years." Eastland and Lowenkron write for Bloomberg. With assistance from Shirin Ghaffary, Yi Wei Wong, Gian Volpicelli, Spencer Soper and Thomas Seal. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times.
SpaceX IPO is a model for Anthropic and OpenAI
SpaceX and lead IPO banker Goldman Sachs began meeting with prospective IPO investors back in January, Axios has learned. Why it matters: This preemptive playbook is likely to be replicated for Anthropic and OpenAI -- both of which plan to go public later this year -- given how smoothly SpaceX stock launched on Friday. Behind the scenes: "There was an incredible focus on educating investors very early, given the breadth and complexity of the company," a source says. "And it also seemed to be announcing major things on a weekly basis -- like the xAI and Cursor acquisitions, or the Anthropic and Google compute deals -- so the dialogue was constant." * One result was that SpaceX didn't meet with any investors this week for the first time, making the book-build run smoother. * Another was early valuation feedback that helped SpaceX get comfortable offering a $135-per-share "take it or leave it" price. Zoom in: Don't be surprised to see both Anthropic and OpenAI also go to market with a set price, rather than launch an auction, although it will remain an exception to the U.S. IPO rule. * Goldman and SpaceX co-lead Morgan Stanley are likely to also run those processes. The bottom line: With less than six months left in 2026, it's likely both Anthropic and OpenAI already are beginning to test public investor waters. AI is moving fast. Axios AI+ keeps you ahead. Sign up free at Axios.com.
Binance Cancels SpaceX IPO Allocations Due To Stock Shortage
Cryptocurrency exchange Binance has canceled a planned allocation of tokenized SpaceX (NASDAQ: $SPCX) stock due to a shortage of available shares. Binance had hoped to provide investors with a tokenized version of SpaceX shares at the initial public offering (IPO) price of $135 U.S. per share. Instead, Binance is having to issue refunds to its customers after failing to secure enough shares to fulfill the orders. More From Cryptoprowl: Binance isn't alone. Other crypto exchanges, including Bybit and Bitget, found themselves in the same situation and unable to deliver on promises of tokenized SpaceX stock. On June 12, Binance canceled its Binance Wallet SPCXx IPO campaign, citing "circumstances outside of our control." SpaceX went public on the Nasdaq (NASDAQ: $NDAQ) exchange at noon on June 12 under the ticker symbol "SPCX." The shares began trading at $150 U.S., 11% above the IPO price. According to media reports, demand for SpaceX stock at the IPO price was unprecedented. By some measures, there were four times as many orders for SpaceX stock as shares available. SpaceX raised $75 billion U.S. from the share sale at a valuation of $1.77 trillion U.S., making it the biggest IPO in history. SpaceX founder Elon Musk saw his net worth jump to $1.05 trillion U.S. due to the IPO, making him history's first trillionaire. Crypto exchanges such as Binance were not alone in being unable to meet customer demand for SpaceX stock. Many traditional brokers set-up lottery systems and share restrictions to cope with the overwhelming demand for SPCX stock. SPCX stock was heading into the close of trading on June 12 with its shares changing hands at $164 U.S. each.
Anthropic shuts down Mythos access after sweeping U.S. order
Anthropic PBC has disabled access to its most advanced artificial intelligence models, including Mythos, following an unprecedented order by the Trump administration to keep the technology out of the hands of all foreign nationals. The U.S. government told Anthropic to suspend access to the Fable 5 and Mythos 5 models by any foreign national "whether inside or outside the United States," citing national security concerns, the company said in a statement. A U.S. official confirmed that the Commerce Department sent the letter. The model developer has since shut off access to both systems to all customers to ensure compliance. Never before has the U.S. government taken such sweeping measures to rein in foreign access to frontier AI models developed by an American company. The Trump and Biden administrations have limited access abroad to other consequential technologies such as semiconductors and supercomputers, and some have debated the merits of blocking access to AI models. But restrictions on the software itself have raised constitutional and commercial concerns. Anthropic said it believes the U.S. government issued the order after discovering that it's possible to "jailbreak," or bypass the guardrails, of Fable 5, a recently released version of Mythos that the company blocked from carrying out cybersecurity tasks. "We disagree that the finding of a narrow potential jailbreak should be cause for recalling a commercial model deployed to hundreds of millions of people," Anthropic said in its website post. "If this standard was applied across the industry, we believe it would essentially halt all new model deployments for all frontier model providers." Researchers at Amazon.com Inc. had conducted jailbreak research that revealed some vulnerabilities in Anthropic's model, according to a report in the Wall Street Journal. Amazon and the U.S. government were in contact about the vulnerability before the controls were imposed, according to people familiar with matter who were granted anonymity to discuss sensitive conversations. Amazon Chief Executive Andy Jassy was involved in those exchanges, one of the people said. The Information reported earlier that Jassy raised concerns to senior U.S. officials. An Amazon spokesperson said it's not uncommon for governments to consult with the company on security risks, but declined to share details of any such discussions. The government's move to so widely restrict access to a set of AI models in the name of national security threatens to set a precedent for all major AI model developers including OpenAI, Alphabet Inc.'s Google and Meta Platforms Inc. Industry leaders such as Nvidia Corp. Chief Executive Officer Jensen Huang and OpenAI CEO Sam Altman have in the past encouraged the US government to instead promote worldwide adoption of American AI systems and protect the nation's lead. "For anyone who was naive and perhaps hoping that this leverage wouldn't be exerted, it's a massive wake-up call," Aidan Gomez, the co-founder of Cohere Inc., a Nvidia Corp.-backed AI startup, said Saturday in an interview. "No one can deny it any more." Anthropic said it received the government order at 5:21 p.m. New York time on Friday. The end-of-day directive runs counter to earlier statements, as well as an executive order recently signed by President Trump, which suggested the administration wouldn't pursue a licensing regime for model reviews. Friday's directive also threatens to escalate long-standing tensions between Anthropic and some within the Trump administration. Earlier this year, the AI developer clashed with the Pentagon over the use of its technology for military and surveillance purposes. The administration declared the company a U.S. supply-chain risk as a result of the blowup and ordered U.S. agencies to phase out the use of its products. Privately held Anthropic, which has long positioned itself as a more responsible AI developer, first released its Mythos model in April to a very limited group of companies and institutions, warning that its ability to find cybersecurity vulnerabilities made it too risky to distribute more widely. There were signs that the limited release was working to ease tensions between Anthropic and the Trump administration: In April, the U.S. government was preparing to make a version of Mythos available to major federal agencies, Bloomberg previously reported. Mythos also accelerated the Trump administration's efforts on AI policy, which included the recent executive order that called for voluntary model review. That order explicitly said that nothing in it should be construed as creating a mandatory licensing regime. David Sacks, Trump's former AI czar and current co-chair of the President's Council of Advisers on Science and Technology, said that Anthropic refused to fix a jailbreak of the guardails in its Fable model. "The Admin's hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release," he wrote in a post on X. "The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn't wanted to comply with safety requests that it previously said were its highest priority." The latest government restriction is colliding with a race among U.S. developers to deliver the most advanced AI models and prove to their investors that the technology can turn a profit. Both OpenAI and Anthropic are seeking initial public offerings as soon as this year, following SpaceX's own historic IPO. The rush to deliver the most cutting-edge AI models spurred Anthropic itself to post a lengthy blog earlier this month, calling for the creation of a system in which governments and AI developers collectively decide when to slow work on the technology to stave off the risks it may pose. "It would be good for the world to have the option to show or temporarily pause" AI work that may be dangerous, the company said in the post at the time. AI is advancing to the point where the technology can make human work thousands of times more efficient or even replace it, creating a new set of risks, the company said. The European Union's executive arm said that it's assessing Anthropic's statement and is continuing to talk to allies about the potential risks and cybersecurity concerns related to powerful new AI models. The European Commission added that the latest developments underline Europe's need for technological sovereignty. '"s a person in the field, I'm not particularly thrilled to see this," said Cohere's Gomez. "I don't think this is partnerly, I don't think this is the right thing to do for the broader technological alliances that have developed over the course of the past 80 years." Eastland and Lowenkron write for Bloomberg. With assistance from Shirin Ghaffary, Yi Wei Wong, Gian Volpicelli, Spencer Soper and Thomas Seal. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times.
Anthropic Shuts Down Mythos Access After Sweeping U.s. Order
Anthropic shuts down Mythos access after sweeping U.S. order - BERITAJA is one of the most discussed topics today. In this article, you will find a clear explanation, key facts, and the latest updates related to this topic, presented in a concise and easy-to-understand way. Read more news on Beritaja. Anthropic PBC has abnormal entree to its about precocious artificial intelligence models, including Mythos, pursuing an unprecedented bid by the Trump management to support the exertion retired of the hands of each overseas nationals. The U.S. authorities told Anthropic to suspend entree to the Fable 5 and Mythos 5 models by immoderate overseas nationalist "whether wrong aliases extracurricular the United States," citing nationalist information concerns, the institution said successful a statement. A U.S. charismatic confirmed that the Commerce Department sent the letter. The exemplary developer has since unopen disconnected entree to some systems to each customers to guarantee compliance. Never earlier has the U.S. authorities taken specified sweeping measures to rein successful overseas entree to frontier AI models developed by an American company. The Trump and Biden administrations person constricted entree overseas to different consequential technologies specified arsenic semiconductors and supercomputers, and immoderate person debated the merits of blocking entree to AI models. But restrictions connected the package itself person raised law and commercialized concerns. Anthropic said it believes the U.S. authorities issued the bid aft discovering that it's imaginable to "jailbreak," aliases bypass the guardrails, of Fable 5, a precocious released type of Mythos that the institution blocked from carrying retired cybersecurity tasks. "We disagree that the uncovering of a constrictive imaginable jailbreak should beryllium origin for recalling a commercialized exemplary deployed to hundreds of millions of people," Anthropic said successful its website post. "If this modular was applied crossed the industry, we judge it would fundamentally halt each caller exemplary deployments for each frontier exemplary providers." Researchers astatine Amazon.com Inc. had conducted jailbreak investigation that revealed immoderate vulnerabilities successful Anthropic's model, according to a study successful the Wall Street Journal. Amazon and the U.S. authorities were successful interaction about the vulnerability earlier the controls were imposed, according to group acquainted pinch matter who were granted anonymity to talk delicate conversations. Amazon Chief Executive Andy Jassy was progressive successful those exchanges, 1 of the group said. The Information reported earlier that Jassy raised concerns to elder U.S. officials. An Amazon spokesperson said it's not uncommon for governments to consult pinch the institution connected information risks, but declined to stock specifications of immoderate specified discussions. The government's move to truthful wide restrict entree to a group of AI models successful the sanction of nationalist information threatens to group a precedent for each awesome AI exemplary developers including OpenAI, Alphabet Inc.'s Google and Meta Platforms Inc. Industry leaders specified arsenic Nvidia Corp. Chief Executive Officer Jensen Huang and OpenAI CEO Sam Altman person successful the past encouraged the US authorities to alternatively beforehand worldwide take of American AI systems and protect the nation's lead. "For anyone who was naive and possibly hoping that this leverage wouldn't beryllium exerted, it's a monolithic wake-up call," Aidan Gomez, the co-founder of Cohere Inc., a Nvidia Corp.-backed AI startup, said Saturday successful an interview. "No 1 could contradict it immoderate more." Anthropic said it received the authorities bid astatine 5:21 p.m. New York clip connected Friday. The end-of-day directive runs antagonistic to earlier statements, arsenic good arsenic an executive bid precocious signed by President Trump, which suggested the management wouldn't prosecute a licensing authorities for exemplary reviews. Friday's directive besides threatens to escalate long-standing tensions betwixt Anthropic and immoderate wrong the Trump administration. Earlier this year, the AI developer fought pinch the Pentagon complete the usage of its exertion for subject and surveillance purposes. The management declared the institution a U.S. supply-chain consequence arsenic a consequence of the blowup and ordered U.S. agencies to shape retired the usage of its products. Privately held Anthropic, which has agelong positioned itself arsenic a much responsible AI developer, first released its Mythos exemplary successful April to a very constricted group of companies and institutions, informing that its expertise to find cybersecurity vulnerabilities made it excessively risky to administer much widely. There were signs that the constricted merchandise was moving to easiness tensions betwixt Anthropic and the Trump administration: In April, the U.S. authorities was preparing to make a type of Mythos disposable to awesome national agencies, Bloomberg antecedently reported. Mythos besides accelerated the Trump administration's efforts connected AI policy, which included the caller executive bid that called for voluntary exemplary review. That bid explicitly said that thing successful it should beryllium construed arsenic creating a mandatory licensing regime. David Sacks, Trump's erstwhile AI czar and existent co-chair of the President's Council of Advisers connected Science and Technology, said that Anthropic refused to hole a jailbreak of the guardails successful its Fable model. "The Admin's dream now is that Anthropic remediates the information issue, the export power is lifted, and Fable goes backmost into wide release," he wrote successful a station connected X. "The Admin wants each of this to hap arsenic soon arsenic possible. It is frankly bewildered that Anthropic hasn't wanted to comply pinch information requests that it antecedently said were its highest priority." The latest authorities regularisation is colliding pinch a title among U.S. developers to present the about precocious AI models and beryllium to their investors that the exertion could move a profit. Both OpenAI and Anthropic are seeking first nationalist offerings arsenic soon arsenic this year, pursuing SpaceX's ain historical IPO. The unreserved to present the about cutting-edge AI models spurred Anthropic itself to station a lengthy blog earlier this month, calling for the creation of a strategy successful which governments and AI developers collectively determine erstwhile to slow activity connected the exertion to stave disconnected the risks it whitethorn pose. "It would beryllium bully for the world to person the action to show aliases temporarily pause" AI activity that whitethorn beryllium dangerous, the institution said successful the station astatine the time. AI is advancing to the constituent wherever the exertion could make quality activity thousands of times much businesslike aliases moreover switch it, creating a caller group of risks, the institution said. The European Union's executive limb said that it's assessing Anthropic's connection and is continuing to talk to friends about the imaginable risks and cybersecurity concerns related to powerful caller AI models. The European Commission added that the latest developments underline Europe's request for technological sovereignty. '"s a personification successful the field, I'm not peculiarly thrilled to spot this," said Cohere's Gomez. "I don't deliberation this is partnerly, I don't deliberation this is the correct point to do for the broader technological alliances that person developed complete the people of the past 80 years."
EchoStar's Spectrum Sales And New SpaceX Stake Reframe Investment Story
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. * EchoStar (NasdaqGS:SATS) has received FCC approval for major spectrum sales to SpaceX and AT&T. * The transactions include cash proceeds and a sizeable equity stake in SpaceX as part of the consideration. * Completion of these deals coincides with SpaceX's historic IPO, which now directly influences EchoStar's asset mix and valuation drivers. EchoStar's stock, NasdaqGS:SATS, closed at $114.08, with very large gains over the past year and past three years, and a strong move over five years. More recently, the shares are down 1.9% over the past week and down 16.9% over the past month, while still up 1.7% year to date, underscoring how quickly sentiment can swing around big corporate changes. The newly confirmed spectrum deals and exposure to a freshly listed SpaceX give EchoStar a different risk and opportunity profile than it had even a few months ago. As you assess the stock, the key questions now center on how management deploys cash from asset sales, how it handles debt, and how it communicates the role of the SpaceX stake in the overall investment story. Wall Street's queuing for one rocket. While SpaceX counts down to its IPO, other companies tied to the new space race are already in orbit. → 20 Compelling Space Companies watchlist · Global Space Race Investing Ideas screener · Scan the sector by valuation on Rocket Lab's valuation page. We've flagged 0 risks for EchoStar. See which could impact your investment. Quick Assessment * ✅ Price vs Analyst Target: At US$114.08, the stock trades about 17% below the US$137.60 analyst target. * ⚖️ Simply Wall St Valuation: Shares are described as trading close to estimated fair value. * ❌ Recent Momentum: The stock has fallen 16.9% over the last 30 days. There's only one way to know the right time to buy, sell or hold EchoStar. Head to Simply Wall St's company report for the latest analysis of EchoStar's Fair Value. Key Considerations * 📊 FCC approval and deal completion shift EchoStar toward more cash and a SpaceX equity stake, which now sit alongside its core pay TV operations. * 📊 It may be useful to monitor how management allocates sale proceeds, updates guidance, and discusses the SpaceX holding in future filings and calls. * ⚠️ The recent 30 day share price decline and new reliance on another listed company can introduce extra sensitivity to sentiment and execution around this pivot. Dig Deeper For the full picture including more risks and rewards, check out the complete EchoStar analysis. Alternatively, you can check out the community page for EchoStar to see how other investors believe this latest news will impact the company's narrative.