News & Updates
The latest news and updates from companies in the WLTH portfolio.
SpaceX hosts analyst meetings ahead of $75 billion IPO
SpaceX is holding three days of closed-door briefings for Wall Street aerospace and technology analysts this week at its Starbase launch facility in Boca Chica, Texas, and its Colossus data center in Memphis, Tennessee, according to a Reuters report from three people familiar with the matter. Tuesday's agenda featured a full-day visit and walkthrough at Starbase, kicking off the series of briefings. Wednesday brings a fresh cohort of analysts tied to institutional money managers -- pension funds and mutual funds among them -- for their own Starbase session. The week wraps up Thursday at the Memphis data center, where participants will get a look at the "Macrohard" project, according to CNBC. Attendees are expected to surrender electronic devices to participate. Roughly a fortnight after the analyst days conclude, a smaller circle of Wall Street analysts will be invited to a dedicated "modeling" session -- a format in which management lays out financial forecasts and operating metrics so analysts can build their own earnings models before trading begins. The clock is ticking for SpaceX CFO Bret Johnsen, who has roughly two months to make the case for a $1.75 trillion valuation -- the figure implied by the $75 billion the company hopes to raise in what would be a record-setting public offering, with a late June market debut in the crosshairs. Ahead of the meetings, certain invited analysts were given access to SpaceX's confidential registration filing, though Reuters reported the document offered only a narrow window into the company's finances. That filing paints a mixed financial picture: cash holdings of roughly $24.7 billion sat alongside liabilities exceeding $50 billion at year-end 2025. Heavy spending on AI infrastructure in the wake of the xAI merger pushed the consolidated bottom line from a $791 million profit on $14.02 billion in revenue in 2024 to a $4.94 billion loss on $18.67 billion in revenue last year. The company's path to a public listing shifted dramatically after Musk folded xAI into SpaceX earlier this year, a transaction that yoked together his rocket operations, Starlink broadband network, X social media platform, and Grok AI chatbot into a single entity. Pricing the combined company has proven unusually difficult, and Reuters reported that at least one major institutional investor has abandoned traditional aerospace and telecom reference points -- Boeing, AT&T -- in favor of AI infrastructure names like Palantir Technologies, GE Vernova, and Vertiv when trying to justify the numbers. Retail participation is a centerpiece of Musk's offering strategy: roughly 30% of shares are earmarked for individual investors, and the deal is being opened to retail buyers across the U.K., E.U., Australia, Canada, Japan, and South Korea. The five lead banks on the transaction are Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs, joined by 16 additional institutions in supporting capacities. SpaceX did not respond to a request for comment.
Whales Circle AAVE Amid Chaos: Is This Another Market Bottom Signal?
Extreme fear surrounds AAVE after exploit-driven outflows, but whale order clusters historically linked to market bottoms are reappearing. AAVE is undergoing one of its most volatile periods in recent history following the April 18 exploit of KelpDAO's rsETH bridge. Attackers used the stolen assets as collateral on Aave V3, borrowing approximately $196 million in wrapped ETH and leaving the protocol with bad debt. In the immediate aftermath, Aave recorded a sharp contraction in deposits, as roughly $8.45 billion exited the platform within 48 hours. The AAVE token has since plunged by 17%, currently trading around the $92 level. Despite these developments, CryptoQuant flagged a major trend emerging from on-chain and market data. The analytics firm stated that Aave's Spot Average Order Size metric, which measures the average size of executed spot trades by dividing total volume by trade count, showed elevated readings within the "Big Whale Orders" category. This was indicative of an increased participation from large investors. Historical data since late 2022 suggests that clusters of such whale activity have consistently aligned with local or wider market bottoms in AAVE's price. These instances were observed during the 2022 bear market lows, mid-2023 consolidation phases, corrections throughout 2024, and again in early 2025. While these patterns do not guarantee immediate reversals, they have typically marked favorable risk-reward zones. As sentiment indicators reflect heightened fear levels similar to those during the 2022 downturn, whale order size has risen again, suggesting potential accumulation. CryptoQuant further added that the outcome remains uncertain but explained that similar conditions previously attracted strategic buying. The firm also said that market participants should monitor the resolution of Aave's Umbrella reserve coverage for the estimated $196 million deficit and whether high whale activity continues within the $85 to $95 range. Zooming out, crypto analyst Duo Nine described the conditions on Aave as highly strained after the exploit, while noting that several core markets reached 100% utilization, which effectively stopped users from withdrawing their funds. Duo Nine explained that large investors quickly pulled billions from the protocol following the rsETH incident linked to KelpDAO, which rapidly drained liquidity across major pools like ETH, USDT, and USDC. As a result, users who did not exit early were left unable to access their assets. The ETH market hit 100% utilization, which not only blocked withdrawals but also limited the protocol's ability to carry out liquidations if prices moved sharply, increasing the risk of additional bad debt. Over time, the same issue spread to stablecoin markets, which ended up leaving more funds locked. According to the market commentator, some users attempted to exit by borrowing against their locked positions and accepting losses, while others used platforms such as Uniswap to sell tokenized assets. Any new liquidity entering the system was quickly removed, often within seconds.
Rachel Reeves's cash ISA shake-up in chaos as uncertainty grows for millions of savers
The source said: "[The Treasury] has done three months of meetings, round tables, and emails [it] still can't decide what to do. It doesn't sound like it's going well." Uncertainty now surrounds major rule changes scheduled to take effect in April 2027, with key aspects of the policy still unresolved. Ms Reeves first announced plans to reduce the cash ISA allowance in last year's Budget, cutting the annual limit from £20,000 to £12,000 for savers under 65. Under the proposals, stocks and shares ISAs would retain the full £20,000 allowance in an effort to encourage greater investment in UK markets. HM Revenue and Customs (HMRC) later confirmed it would introduce measures to prevent savers from bypassing the new limits by holding cash within investment accounts.
Amazon Stock Rises As Anthropic Commits Over $100B to AWS - Amazon.com (NASDAQ:AMZN)
Amazon stock is among today's top performers. What's driving AMZN stock higher? AI Partnership Deepens With $100B AWS Commitment The commitment includes the use of current and future generations of Amazon's Trainium chips, along with tens of millions of Graviton cores, to support the training and deployment of Anthropic's AI models. Anthropic is expected to secure up to 5 gigawatts of compute capacity, including access to upcoming Trainium3 systems. The agreement deepens an existing partnership between the companies, with more than 100,000 customers already running Anthropic's Claude models on AWS. The collaboration also includes expansion into international markets across Asia and Europe to support growing demand. Amazon said it will invest $5 billion in Anthropic immediately, with the potential to invest up to an additional $20 billion tied to certain milestones. This builds on the $8 billion Amazon has previously invested in the company. Anthropic will continue using AWS as its primary cloud provider for mission-critical workloads, leveraging Amazon's infrastructure to scale AI model development and deployment. Amazon Tests Highs as Momentum Runs Hot Amazon is sitting just under its 52-week high ($258.60), which often turns into a "decision zone" where buyers and sellers fight over new highs. The stock is trading 14.2% above its 20-day simple moving average (SMA) and 13.9% above its 100-day SMA, a setup that leans toward a strong short- and intermediate-term uptrend. The relative strength index (RSI), a momentum gauge, is 72.90 (overbought), which can line up with strong demand but also a higher chance of short-term cooling. RSI at 72.90 means momentum is running hot, so pullbacks can show up quickly if buyers pause. Even with that strength, the longer-term moving-average picture still carries baggage from the death cross in March (50-day SMA below the 200-day SMA), which is why follow-through matters near the highs. The 12-month gain of 48.39% shows the longer-term tape has rewarded dip-buying, but it also raises the bar for sustaining upside without consolidation. Key Resistance: $258.50 -- where rallies have recently stalled near the 52-week peak Key Support: $226.50 -- an area where buyers have tended to defend pullbacks Amazon Shares Edge Higher AMZN Price Action: At the time of publication, Amazon shares are trading 2.29% higher at $253.96, according to data from Benzinga Pro. Image via Shutterstock This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.
Prediction market startup Polymarket nabs $400M at $15B valuation from NYSE owner: sources -- TFN
Polymarket is in talks to raise $400 million at a post-money valuation of about $15 billion, according to Bloomberg. Last month, Intercontinental Exchange, which owns the New York Stock Exchange, invested $600 million as part of a larger agreement to commit up to $2 billion. Polymarket is seeking additional strategic investors, and the total round could reach $1 billion. The $15 billion valuation is higher than the $9 billion at the time of ICE's October 2025 investment, but it is still below Kalshi's recent $22 billion valuation. Shayne Coplan founded Polymarket in June 2020 at age 22, building the first version on his own during the New York pandemic lockdown. Coplan, who studied computer science at NYU, reached out to the SEC at 14 and bought Ethereum when it was $0.30 per token. After ICE's first investment in October 2025, Bloomberg reported that ICE had become the world's youngest self-made billionaire. Early backers included Ethereum co-founder Vitalik Buterin, Founders Fund, and Polychain Capital. Polymarket runs on the Polygon blockchain and uses smart contracts to settle trades in USDC. Users can buy YES or NO tokens at real-world events such as elections, sports, economic indicators, and cryptocurrency price movements. The prices change based on the crowd's predictions. Polymarket's main competitor is Kalshi, which raised $1 billion at a $22 billion valuation earlier this year and leads the US market with annual revenues of about $1.5 billion. Analysts say the valuation difference stems from Kalshi's head start in the US, since Polymarket only recently began serving American customers and charging fees. Charles Schwab and Nasdaq are also entering the prediction market space, indicating that the sector is becoming more mainstream. Both Polymarket and Kalshi still face regulatory hurdles, including Nevada's ban on Kalshi and lawsuits from state attorneys general over gambling regulations. Polymarket is thinking about going public. The new funding will help with product development, expansion in the US, and international growth. With support from ICE's network, Polymarket wants to become a real-time information market for institutional clients.
AI-assisted intruders pwned Vercel via OAuth abuse and a pilfered employee account - IT Security News
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Amazon to invest an additional US$5 billion in Anthropic
Anthropic, founded in 2021 by several former employees of OpenAI, is widely expected to conduct an initial public offering as soon as this year. The AI company has been racing to persuade more businesses to pay for its software to help offset the immense cost of developing the technology. The agreement is the latest sign of Anthropic's hunger for the immense processing power necessary to build new versions of Claude. Like OpenAI, Anthropic has inked a series of deals to secure the necessary chips and rented computing power. Anthropic last week said it would enlist Broadcom Inc. to supply chips based on Google's tensor processing units, a rival to Amazon's Trainium line. The collaboration among the three companies will let Anthropic access about 3.5 gigawatts' worth of computing power. Anthropic in October confirmed it would grab as many as 1 million of the specialized AI chips from the Alphabet Inc. unit, a tie-up worth tens of billions of dollars.
Elon Musk expands SpaceX stake as company prepares for listing: Report
The shares are expected to vest in stages as the company's market capitalisation increases in increments of $500 billion, the report added. Elon Musk increased his stake in SpaceX last year by purchasing about $1.4 billion worth of shares from current and former employees, according to a report by The Information. The transaction was carried out through Musk's trust and was disclosed in a draft of the company's confidential IPO prospectus, the report said. The filing also outlined a compensation plan under which Musk could receive 60 million additional shares if SpaceX's valuation rises from about $1.1 trillion to as much as $6.6 trillion. The award is also linked to the company executing plans to build data centres in space aimed at providing computing capacity for artificial intelligence developers. Also read: AI pioneer Yann LeCun challenges Amodei's job loss claims, flags limits of tech expertise The shares are expected to vest in stages as the company's market capitalisation increases in increments of $500 billion, the report added. Reuters could not independently verify the details, and SpaceX did not respond to a request for comment. The company confidentially filed for a public listing in the United States in March. Earlier reports indicated that SpaceX generated around $8 billion in profit last year on revenue estimated between $15 billion and $16 billion. Also read: Fake 'Bixonimania' study shows AI, humans can be misled by fabricated research The proposed IPO structure includes dual-class shares, with Class B shares carrying 10 votes each, while Class A shares offered to public investors would have one vote each, allowing Musk and other insiders to retain control.
How to eliminate operational chaos using smart process engineering
Tired of fragmented systems? Krishna Valluru shows how process engineering fixes operational chaos and ensures your data integrity remains rock solid. While many organizations today tout their digital transformation milestones as the ultimate benchmark of success, a surprising number are quietly struggling with internal operational disorder. This performance gap often arises from a mix of fragmented data, heavy reliance on manual tasks, regulatory pressures, and a lack of transparency. Across various sectors, leadership teams are beginning to realize that disjointed workflows inevitably create two major issues: operational inefficiency and a diminished capacity for data-driven decision-making. It is within this challenging environment that Krishna Valluru has built a reputation as a process engineering expert, dedicated to bringing structure, clarity, and measurable discipline to data-centric operations. His philosophy is built on a simple yet powerful premise: broken workflows are the root cause of broken data, not the other way around. He maintains that refining the underlying process is the most effective strategy for restoring data integrity. "Chaos is rarely accidental," Valluru notes. "It is the result of unexamined assumptions. Process engineering forces organizations to confront those assumptions with data and discipline. When leaders can see clearly, they act decisively. " Operating at the intersection of data architecture and workflow design, Valluru has spearheaded initiatives that turned fragmented reporting environments into unified, reliable systems of insight. A major achievement was his development of a Single Point of Truth (SPOT) framework, which successfully dismantled information silos between departments. By consolidating cross-functional data into a single reporting model, he enhanced visibility for executive leadership and mitigated the inconsistencies that previously hindered decision-making. His influence extends well beyond the creation of dashboards. Valluru designed and implemented a comprehensive library of Standard Operating Procedures (SOPs), establishing consistent workflows that minimized operational variance and clearly defined roles. This documentation not only improved execution consistency but also bolstered audit readiness by mapping data flows and embedding validation controls directly into daily tasks. In one of his most quantifiable projects, a Data Quality Kaizen focused on the claims intake process, Valluru utilized Lean Six Sigma methodologies to drive substantial improvements. Missing data fields in intake submissions dropped by 42 percent, while rework caused by incomplete information fell by 48 percent. Following the implementation of standardized data validation rules, error rates decreased from 18 percent to 7 percent. Intake cycle time improved by 28 percent, dropping from 3.6 days to 2.6 days, and frontline visibility into upstream data rose by 30 percent through the addition of new workflow checkpoints. This effort also resulted in a 25 percent reduction in member callbacks and a 20 percent increase in effective FTE capacity, allowing teams to focus on higher-value tasks. Beyond the raw metrics, Valluru's work has emphasized cultural alignment. He managed resistance to change -- particularly among teams accustomed to manual or siloed workflows -- through collaborative process discovery, root cause analysis, and the use of RACI models to clearly define cross-functional responsibilities. KPIs were developed in partnership with stakeholders using Lean and SMART principles to ensure they were both meaningful and actionable, which boosted long-term accountability and adoption. He also integrated Continuous Process Improvement (CPI) into day-to-day operations, moving away from treating it as a series of disconnected projects. By creating a Community of Practice, he encouraged teams to share insights, validate improvements using statistical control plans, and maintain ownership over evolving documentation. "Data blind spots are silent killers of operational performance," Valluru explains. "If information is not flowing properly, it is usually because the underlying process doesn't reflect how work actually gets done. Fixing the data without fixing the process creates temporary solutions that degrade quickly. " His philosophy highlights a significant industry trend: as companies embrace automation and advanced analytics, the foundational integrity of workflows becomes vital. He warns that over-standardization can lead to rigid systems that struggle with exceptions. Instead, effective process engineering balances discipline with flexibility, ensuring that deviations are visible, deliberate, and serve as learning opportunities. In a business landscape marked by rapid shifts and changing regulatory requirements, Valluru's work demonstrates that operational excellence isn't about imposing strict control, but about designing systems that produce reliable results. By aligning every process step with necessary data elements and building reporting into the execution phase rather than treating it as an afterthought, he has helped ensure that insight becomes a natural outcome of doing the work correctly. "As organizations continue to grapple with digital complexity," Valluru believes the real value of process engineering lies in clarity. "Bringing order to chaos isn't about making work look organized," he says. "It's about making outcomes predictable and trustworthy. When processes evolve with the business, improvement becomes systematic, not reactive. " In an era of advanced technology, the takeaway is increasingly clear: before chasing more data, organizations must ensure the pathways creating that data are sound. Through disciplined process design and measurable improvement, Krishna Valluru's work shows how repairing workflows and eliminating blind spots can restore both strategic vision and operational confidence.
Amazon to invest up to $25 billion in Anthropic; CEO Andy Jassy says: Anthropic's commitment to run its LLMs on AWS Trainium for ...
Amazon has announced its plans to invest up to $25 billion in artificial intelligence startup Anthropic, expanding its partnership to build out AI infrastructure. According to a report by CNBC, the deal includes an immediate $5 billion investment, with up $20 billion more tied to commercial milestones. This comes on top of the $8 billion which Amazon has already invested in Anthropic in recent years. As part of the agreement, Anthropic said that it will spend more than $100 billion on Amazon Web Services (AWS) technologies over the next decade. This also includes the present and future generations of Trainium, Amazon's custom AI chips. Anthropic has secured up to 5 gigawatts of capacity for training and deploying its Claude AI models, with nearly 1 gigawatt of Trainium2 and Trainium3 capacity expected to come online by the end of the year.Amazon CEO Andy Jassy highlighted the significance of the partnership: "Anthropic's commitment to run its large language models on AWS Trainium for the next decade reflects the progress we've made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI."The investment announced by Amazon underscores the race among the major cloud providers to expand AI capacity. In February this year, Amazon said that it expects to spend around $200 billion this year on capital expenditures, mostly on AI infrastructure. The deal comes just two months after Amazon agreed to invest up to $50 billion in OpenAI, Anthropic's chief rival.OpenAI executives have criticized Anthropic for not securing enough compute capacity, but Anthropic CEO Dario Amodei said demand for Claude has surged, straining infrastructure. "Our users tell us Claude is increasingly essential to how they work, and we need to build the infrastructure to keep pace with rapidly growing demand," Amodei said.Founded in 2021 by former OpenAI researchers, Anthropic has quickly become a leading AI company, best known for its Claude family of models. The company has found success with enterprise customers and reported annualised revenue topping $30 billion.Anthropic named AWS its primary cloud provider in 2023 and its primary training partner in 2024, though it has also signed deals with Microsoft, Google, and Broadcom for additional compute capacity. Microsoft previously committed up to $5 billion, while Anthropic pledged $30 billion in Azure usage.
US procurement rules may hinder Anthropic's AI model ranking prospects
US government procurement rules could disadvantage Anthropic in AI model rankings. Anthropic's chances of having the #1 AI model by April 30 sit at YES. The US government's AI procurement rules prioritize domestic systems and penalize firms that don't meet defense requirements, which has direct implications for the AI Model Rankings by End of April market. Traders are pricing in the possibility that Anthropic's ability to secure top spots is compromised, affecting its competitive position and market access. Anthropic's odds of landing the third best AI model by April face similar pressure. The market reflects concerns that the company's refusal to comply with certain procurement terms limits its ability to maintain or improve its model rankings. With 10 days remaining, traders are recalibrating expectations as these policy shifts take effect. Volume in these markets is currently nonexistent, suggesting traders are waiting for clearer signals. Thin markets can move sharply on single large orders, so traders should size positions accordingly. The procurement rules function as a non-kinetic tool in the US-China tech rivalry, accelerating domestic AI integration while restricting adversarial access. For contrarians, buying YES at current low prices could offer substantial returns if Anthropic manages to comply or sidestep the procurement restrictions. A YES share pays $1 if Anthropic achieves the third position, making it a high-payoff bet if the policy impact is overestimated. Watch for announcements from Anthropic or shifts in US government procurement policy. Statements from Dario Amodei or new compliance strategies could move these markets quickly.
Amazon's $25B Anthropic Investment Signals a New AI Arms Race
Amazon is investing $25 billion into Anthropic, signaling a major push into artificial intelligence and intensifying competition with other tech giants in the race to dominate the generative AI market. Both companies have been working together since 2023 to accelerate the adoption of generative AI (Gen AI) across industries, making it easier for customers to build, deploy, and scale the technology. is investing up to US$25 billion in Anthropic, as the AI startup seeks to spend more than $100 billion on Amazon Web Services (AWS) over the next 10 years. The money Amazon has agreed to pour into Anthropic is on top of the $8 billion it has already invested, the technology giant said. "Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it's in such hot demand," said Andy Jassy, CEO of Amazon. Part of the new agreement will include current and future generations of Trainium, Amazon's custom AI chips. Anthropic has confirmed it has secured up to 5 gigawatts of capacity to train and deploy its Claude AI models.
Reeves's cash Isa reforms in chaos
Rachel Reeves's plans to penalise savers who hold cash in investment accounts have stalled despite months of Treasury meetings, The Telegraph understands. In last year's Budget, the Chancellor announced the controversial cut to the cash Isa limit from £20,000 to £12,000 for under-65s from April next year. HMRC said later that it would penalise savers trying to use loopholes to circumvent the limit, including putting cash into stocks and shares Isas. But industry sources told The Telegraph that after months of talks, the Treasury has not made crucial decisions about how the rules on investment accounts would work in practice. HMRC has said that, under the new rules, anyone holding cash in stocks and shares accounts - which will retain the full £20,000 allowance in an effort to boost investment in UK markets - will face a charge. The taxman also said it would not allow "cash-like" investments in the tax-free accounts. Transfers between stocks and shares Isas and Innovative Finance Isas to cash Isas will be banned. However, the Government is yet to explain key aspects of the rule changes, including how interest earned on cash held in stocks and shares Isas will be taxed. Previously, there was a flat 20pc tax charge on cash held in stocks and shares Isas, and some firms in the industry, including Hargreaves Lansdown, have pushed for this to be reintroduced. In March, Treasury forecasts revealed that the reduced allowance would raise an extra £95m in tax over the next five years, as savers move cash to unprotected accounts. Up to £1,000 in interest can be earned on savings per year by a basic-rate taxpayer before they need to pay tax on it. Higher-rate taxpayers have an allowance of £500, and additional-rate taxpayers have no allowance at all. The tax on savings income is set to rise by 2pc from April 2027. Clarity is also needed on which investments will be considered "cash-like", and therefore will not be permitted to be held in the tax-free accounts, or subject to a charge. One source familiar with the process told The Telegraph: "[The Treasury] has done three months of meetings, round tables, and emails... [it] still can't decide what to do." They added: "It doesn't sound like it's going well." Another source said savers "should not be punished with a punitive tax penalty just to help achieve this misguided cash Isa cut." A Treasury source said that both the Treasury and HMRC had been "consulting directly with industry about anti-circumvention rules" ahead of the cash Isa allowance cut, but that the rules had "not yet been set".
SpaceX hosts analyst meetings ahead of $75 billion IPO
SpaceX is holding three days of closed-door briefings for Wall Street aerospace and technology analysts this week at its Starbase launch facility in Boca Chica, Texas, and its Colossus data center in Memphis, Tennessee, according to a Reuters report from three people familiar with the matter. Tuesday's agenda featured a full-day visit and walkthrough at Starbase, kicking off the series of briefings. Wednesday brings a fresh cohort of analysts tied to institutional money managers -- pension funds and mutual funds among them -- for their own Starbase session. The week wraps up Thursday at the Memphis data center, where participants will get a look at the "Macrohard" project, according to CNBC. Attendees are expected to surrender electronic devices to participate. Roughly a fortnight after the analyst days conclude, a smaller circle of Wall Street analysts will be invited to a dedicated "modeling" session -- a format in which management lays out financial forecasts and operating metrics so analysts can build their own earnings models before trading begins. The clock is ticking for SpaceX CFO Bret Johnsen, who has roughly two months to make the case for a $1.75 trillion valuation -- the figure implied by the $75 billion the company hopes to raise in what would be a record-setting public offering, with a late June market debut in the crosshairs. Ahead of the meetings, certain invited analysts were given access to SpaceX's confidential registration filing, though Reuters reported the document offered only a narrow window into the company's finances. That filing paints a mixed financial picture: cash holdings of roughly $24.7 billion sat alongside liabilities exceeding $50 billion at year-end 2025. Heavy spending on AI infrastructure in the wake of the xAI merger pushed the consolidated bottom line from a $791 million profit on $14.02 billion in revenue in 2024 to a $4.94 billion loss on $18.67 billion in revenue last year. The company's path to a public listing shifted dramatically after Musk folded xAI into SpaceX earlier this year, a transaction that yoked together his rocket operations, Starlink broadband network, X $TWTR social media platform, and Grok AI chatbot into a single entity. Pricing the combined company has proven unusually difficult, and Reuters reported that at least one major institutional investor has abandoned traditional aerospace and telecom reference points -- Boeing $BA, AT&T $T -- in favor of AI infrastructure names like Palantir $PLTR Technologies, GE Vernova, and Vertiv when trying to justify the numbers. Retail participation is a centerpiece of Musk's offering strategy: roughly 30% of shares are earmarked for individual investors, and the deal is being opened to retail buyers across the U.K., E.U., Australia, Canada, Japan, and South Korea. The five lead banks on the transaction are Morgan Stanley $MS, Bank of America $BAC, Citigroup $C, JPMorgan $JPM, and Goldman Sachs $GS, joined by 16 additional institutions in supporting capacities. SpaceX did not respond to a request for comment.
The SpaceX IPO is a trillion-dollar gamble on the future of space
It's either a gilded pathway to the stars or a financial black hole. The great SpaceX IPO is looming, allowing outside investors -- including regular Joe Schmoes, or retail investors -- to buy a stake in one of the buzziest and most controversial companies on the planet for the first time. Depending on who you ask, it's either the best investment opportunity you'll see this decade or a fool's errand to rip off credulous Musk fanboys. With valuations of the company going to sky-high levels, over $1 trillion according to some estimates, there's certainly a furor around the potential for rich returns. But is there really any money to be made in space? Let's be clear: There are plenty of companies making money right now by providing space services. From Earth observation satellites to communications to launch services, there already exists a whole ecosystem of companies working in low Earth orbit, providing invaluable services to people on the ground. Where the question gets trickier is when we start to look at the economics of launching humans into space, or sending missions to the Moon or beyond into deep space. These are SpaceX's stated aims -- or at least, the loudly stated aims of Elon Musk, so it's reasonable to assume that's where the company has set its long-term sights. And SpaceX is the dominant force in the space economy right now, so if anyone can make this work, it can. There have been suggestions that there's money to be made in mining asteroids, or extracting rare earth elements from the Moon, or performing drug research in microgravity, but there is vigorous debate among experts over the business cases for these plans. It's essentially just very, very expensive to do anything in space, with costs ballooning due to the price of a ride on a rocket, the extremely high level of reliability and safety needed for any hardware that you launch, the weight constraints, lack of opportunity for maintenance, and the need to secure power and shield from space radiation. That's all without mentioning the astronomically higher costs that come when humans are being launched as well. It's much cheaper to do your work on the ground, whether it's research or resource extraction. In practice, it's unlikely that anything you could dig up from an asteroid, for example, would justify the cost of sending a mission there right now. Take NASA's OSIRIS-REx mission, which traveled to an asteroid to acquire a sample and bring it back to Earth for scientific purposes. It cost over $1 billion and was a decades-long undertaking of tremendous engineering skill and expertise that succeeded -- impressively -- at returning around 120 grams of material. Even in the case where an asteroid is known to be made of potentially valuable metals, even if a mission were purpose-built for the goal of mining and did manage to return and land those metals safely on Earth, trying to flog huge quantities of those metals would likely lessen their value anyway as the market became flooded. Then there is the new crop of up-and-coming space economy ideas, like AI data centers in space or space-based solar power. These are technologies that work on Earth, and could theoretically be made to work in space, with their affordability aided as the price of doing anything in space drops as technologies and markets mature. The justification is that data centers gobble up electricity and water for cooling, using up power and creating pollution, but if they were in space then they could take advantage of plentiful solar energy and cooler ambient temperatures -- though experts warn that the issues of space debris and orbital overcrowding are a risk, and that emissions of infrared radiation could interfere with astronomy. So could a company make money in these enterprises? Potentially. Has any company got a concrete plan for how to do it yet? Nope. Some of the teething problems of space commercialization can be seen in NASA's uncertainty over the future of the International Space Station. Now old and outdated, the ISS will need to be deorbited in the next few years, and the plan was to replace it with a number of different commercial space stations. NASA would financially support the development of these stations, then become a customer of them, sending its astronauts on stints there to perform the same space research the agency has always done. At least, that was the plan. Progress on the commercial space stations was slow, and last month NASA pivoted to an entirely different approach due to a limited budget. The hope had been that private space stations could be funded by space tourism and other commercial ventures, but that source of revenue isn't looking as promising as it once was: Joel Montalbano, acting associate administrator for NASA's Space Operations Mission Directorate, acknowledged that NASA had expected the space tourism market to take off and pump money into the sector, but that had failed to materialize. Now, the fate of humans in space is up in the air. There's a warning there. The promise of money to be made in space tourism "is actually somewhat emblematic of this larger discussion," says Wendy Whitman Cobb of the School of Advanced Air and Space Studies. For all the optimistic projections about the forthcoming space economy, "there's a real question as to whether that market actually materializes or not." First, companies were going to pay to conduct research in microgravity. Then, millionaires were going to save us by booking joy rides into space for fun. Now, we're going to solve the resource-gobbling problems of AI by shoving data centers into space. Some of these ideas could eventually turn a profit, but it's far from clear that any of them will generate enough money to pay the enormous costs of doing anything off Earth. For SpaceX, though, the company doesn't need to make money in any one particular aspect of the space economy. It has its fingers in enough pies, from launch to satellite internet to xAI, that the gamble is on whether at least some of these enterprises will make enough money to cover the rest. "That's part of what this is a bet on as well, which is that the market will come up with more business cases we can't foresee," says Matthew C. Weinzierl, a professor at Harvard Business School. "[SpaceX] have such a dominant position in the sector, that to the extent people believe there's at least a reasonable chance that the pie in space is gonna get really big, SpaceX is going to claim an enormous share of that pie. Because they're creating it in many ways." And to a significant degree, the question of whether there's money to be made in space is a question of timescales. "In a thousand years, do I think there will be a vibrant space economy? Yes, I do. I think we should probably count on that. But that's a long time," says Weinzierl. In the more immediate term, there's not necessarily a business case for space beyond low Earth orbit right now. "Short of some sort of technological or scientific breakthrough, in the next five to 10 years, I'm skeptical," says Whitman Cobb. Government contracts will continue to be a significant if not the primary source of revenue for most space companies, which could bridge the gap between the short- and long-term views of space economics. There are space services that exist now and are in successful use, from launch providers like SpaceX's Falcon 9 rocket to Earth observation services like those from Planet and Vantor (previously Maxar). SpaceX services including the use of Starlink and the Falcon 9 are now deeply intertwined with the US defense sector, to an extent that has some lawmakers concerned, but that offers the company a degree of stability. Whether there's peace or war on Earth, defense contractors stand to make good money. "The national security piece gives you sort of a floor below which it's hard to imagine SpaceX falling," says Weinzierl. For investors, he says, that makes it an appealing choice, especially for those looking to get into the sometimes risky world of space investment: "If you want to be a part of space, [SpaceX] feels in many ways like the safest bet." The importance of government contracts for space companies isn't new, points out Marit Undseth of the Organisation for Economic Co-operation and Development (OECD). But compared to legacy space companies like Boeing, Lockheed Martin, or Northrop Grumman, the difference is the degree to which SpaceX has vertical integration. "What we have now is that SpaceX controls launch, even manufacturing. It has a unique position in the space industry, and even in the space economy," Undseth says. But with this prominent role can come a higher degree of scrutiny: "It's the government's role to ensure that there's competition at all possible levels, and to adjust the advantages of incumbents and first movers." Because that first mover advantage is real and significant. With loose regulation around the use of space, there is a degree of first-come-first-served when it comes to cornering the market on certain orbital positions or parts of the spectrum. SpaceX has a big leg up over competitors from having gotten there first. As for a push for more regulation in the space market, that's "a very touchy subject," Undseth says, and there isn't clear agreement between differing nations, NGOs, or companies on what reasonable regulation would look like. "Everybody understands the need for competition, but it's also very difficult to put that into practice." Then there's a question of how becoming a public company with heavy reliance on defense contracts will affect SpaceX in the long term. The company has built its reputation and success on being willing and able to test, fail, and iterate again, and on not being afraid of controversy or of pouring money into projects like Starship that may never really be financially viable on their own. Will stockholders accept that approach once their own money is on the line? "The defense contractors we have here in the United States have become incredibly risk-averse," says Whitman Cobb. "Can SpaceX retain its unique organizational culture as one that is innovative and focused on the future? ... Are they going to be able to retain what makes them a unique and special company by going public?" It's hard to speculate on the financial future of SpaceX because the company is so opaque from the outside. It says it is making money from Starlink, but how much? How much is Starship costing to develop, and how is it going to make that money back? How reliant is the company on government contracts, and is there really a market for its services that can make it financially independent? No one knows. But the IPO will at least give experts a chance to finally see inside the company's financials. "I personally can't wait for the IPO," says Whitman Cobb. "Not to buy it, but just to get some more insight on what SpaceX looks like as an actual company." So what are the potential investors in SpaceX buying? A meme stock? A piece of the future of the human race? A defense contractor run by an unstable and highly distractible leader? Whatever the truth turns out to be, people who are thinking of putting money into SpaceX presumably know what they are getting into. "Markets can be impatient for quarterly earnings, and they really want you to hit your targets," Weinzierl says. But "anybody buying into SpaceX has to understand that's not the asset they're buying."
Rachel Pleads the Fifth! Plus, Ciara's First Interview, Luke's Campaign Buzz, and 'Summer House: Ozark' Chaos.
It's Rachel's birthday, and we celebrate the only way that feels right: by making her plead the fifth. But first, Chelsea and Rachel get straight into the chaos of Summer House, the drama that refuses to end. Then, they unpack Lisa Hochstein's "eavesdropping" arrest, throw their full support behind Luke Gulbranson's run for Congress, and spill their unfiltered thoughts on those Summer House: Ozark rumors. Host: Rachel Lindsay Guest: Chelsea Stark-Jones Producers: Belle Roman and Ashleigh Smith Social Producer: Sasha Ashall Theme Song: Devon Renaldo Source for all photos: Getty Images
A SpaceX IPO Could Shift Attention Away From Tesla, and Dip Buyers Should Be Ready
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. The big SpaceX IPO is coming, and it could probably become the new, more exciting way to bet on Elon Musk's vision of the future. Once the SpaceX-xAI IPO finally does go live on the public markets, it might make a $1.75-2 trillion splash that shifts the mix of portfolios across the globe. For now, time will tell what the right valuation on the mega-IPO will be, if there's enough hype to move the needle on the AI-savvy space behemoth, and what the implications will be for shares of Tesla (NASDAQ:TSLA | TSLA Price Prediction), which Musk surely isn't forgetting about. While I'm sure the many Musk followers won't forget about Tesla, especially as it becomes more like a robotics titan, with Optimus and Cybercab, and less of an electric vehicle (EV) seller, I do think that it's not out of the ordinary to envision some investors ringing the register with Tesla to have enough dry powder ready to punch a ticket to SpaceX, if not for Starlink and the rocket launches, perhaps for xAI and Elon Musk's take on the AI revolution. The SpaceX-xAI is exciting, but we can't forget about Tesla Indeed, it would probably be nice to see SpaceX absorb Tesla at some point down the line. There's been quite a bit of speculation over such a mega-merger. But, for now, Tesla stock could stay in a bit of a rough patch alongside many of the Magnificent Seven names. And until the Optimus tailwind takes hold, perhaps 2026 could continue to be more of a "breather" year for the stock, as momentum traders look for something that rides more hyper-growth themes. As to whether SpaceX deserves Tesla's spot within the Magnificent Seven remains to be seen. Certainly, Tesla stock has been less than magnificent in recent months after a brief spill into bear market territory. Still, as we learn more about Optimus and the ambitious Terafab project, I do think that the stock might be more deserving of a "free pass" of sorts. Depending on how heated the SpaceX IPO is, I actually think Tesla has what it takes to be just as exciting a growth play, especially once Optimus starts building itself and we enter some sort of recursive production. Production kicks off this summer, and as the robots continue to learn, there's no question that the firm will eventually find itself on the highway to autonomous production. Of course, it's hard to tell what's more exciting, the rise of humanoid robots or space-based AI data centers. Even as SpaceX steals more of the headlines, I think owning both Tesla and SpaceX makes the most sense for the complete Elon Musk package. Perhaps when Optimus is ready to head to the moon or Mars, it'll be time to combine the two Musk entities into one gigantic titan. The bottom line If there's anything the average portfolio lacks, it's probably a profitable space business with a differentiated AI business. While it will be interesting to see how the two $1-trillion-plus Elon Musk titans stack up over the years as the AI boom starts bringing in serious cash flows, I do think that Tesla investors might wish to fasten their seatbelts in case the SpaceX IPO launch causes some big waves. Personally, I think any exaggerated swings tied to a rotation out of Tesla and into SpaceX could be more of an opportunity than a red flag to run for the exits. In the earlier days, SpaceX's gains shouldn't take anything away from Tesla. In fact, in a rational market, the two may very well rise together, especially given Tesla's newly converted stake in the space titan and given the synergies to be had. In short, if Tesla wobbles as SpaceX launches, it might be a chance to buy the former as one waits for the latter to calm.
Anthropic and Amazon Forge Landmark $100 Billion Infrastructure Partnership - FinanceFeeds
In a development that underscores the accelerating scale of the artificial intelligence industry, Anthropic has committed to spending more than $100 billion on Amazon Web Services (AWS) infrastructure over the next decade. This expansive agreement is designed to provide the AI laboratory with the massive computing capacity required to train and deploy its increasingly complex frontier models, including the Claude series. As part of this deepening collaboration, Amazon has immediately injected $5 billion into Anthropic, with provisions for up to $20 billion in additional future funding contingent upon reaching specific commercial milestones. This commitment provides Anthropic with access to 5 gigawatts of specialized computing capacity, leveraging Amazon's custom Trainium and Graviton silicon chips. The deal highlights the escalating costs and resource demands inherent in the global race for artificial intelligence leadership, where securing stable, high-performance data center capacity has become as critical as the primary research and development efforts themselves. The strategic alignment between Anthropic and Amazon reflects a broader trend of vertical integration within the tech sector as leading AI labs seek to insulate themselves from persistent supply chain constraints. With Anthropic's annualized revenue reportedly surging to more than $30 billion, the company is facing intense pressure to scale its infrastructure to meet growing enterprise demand for its coding and design tools. By locking in a decade-long commitment, Anthropic is ensuring a reliable pipeline of computing resources, including several generations of custom Amazon silicon, which are increasingly seen as viable alternatives to standard industry GPUs. For Amazon, this partnership serves a dual purpose: it secures a dominant position as the primary infrastructure partner for a top-tier AI lab while simultaneously validating the competitive performance of its internal semiconductor division. This deal, one of the largest of its kind in tech history, signals that the era of massive, multi-year infrastructure commitments is only just beginning. As both companies look toward the release of more powerful models later this year, the ability to rapidly deploy this massive compute capacity will likely determine which firms maintain their competitive edge in a fast-moving and resource-intensive market. The capital influx not only fortifies Anthropic's operational runway but also forces competitors to reassess their own hardware strategies in an environment where access to specialized silicon is becoming a primary differentiator. As the industry moves beyond the initial hype phase, the focus has shifted toward the brutal reality of capital expenditure, where the sheer volume of investment is now acting as a barrier to entry for smaller players, effectively consolidating the AI research field around those capable of securing multi-billion dollar partnerships.
Vercel Customer Data Breach Highlights CX Risks of "Shadow AI" Tools
Vercel breach indicates how third-party AI tools and compromised credentials can expose customer data and disrupt CX A data security breach at US cloud application company Vercel has prompted urgent customer notifications and drawn attention to the risk that employees using third-AI tools could open additional attack vectors for hackers to steal customer information. Vercel provides developer tools and cloud infrastructure, including the widely used Next.js web development framework for React that it created and maintains. The company issued a bulletin on April 19 stating that it had discovered unauthorized access to certain internal systems and indicated that some customers' accounts were compromised. "Initially we identified a limited subset of customers whose non-sensitive environment variables stored on Vercel (those that decrypt to plaintext) were compromised. We reached out to that subset and recommended an immediate rotation of credentials." The bulletin added the company is investigating "whether and what data was exfiltrated" and will contact customers if it discovers further evidence of their information being compromised. The investigation found that the attacker gained access to Context.ai, a third-party agentic AI tool used by a Vercel employee, which allowed it to take over the employee's Vercel-issued Google Workspace account to breach some Vercel environments and environment variables that were not marked as sensitive. The company fully encrypts variables that are marked as sensitive to prevent them from being read, and the bulletin stated that "we currently do not have evidence that those values were accessed." It turns out that Context.ai's Google Workspace OAuth app was the subject of a broader security compromise, potentially affecting "hundreds of users across many organizations," Vercel warned. The company recommends that Google Workspace Administrators and Google Account owners check for usage of the app immediately. Vercel's CEO, Guillermo Rauch, provided more detail in a post on X, stating: "We believe the attacking group to be highly sophisticated and, I strongly suspect, significantly accelerated by AI. They moved with surprising velocity and in-depth understanding of Vercel." Rauch added that the company analyzed its supply chain to make sure that Next.js, the Turbopack bundler built into Next.js, and its open-source projects remain secure. A subsequent update to the bulletin on April 20, 5:32 PM PST stated: "In collaboration with GitHub, Microsoft, npm, and Socket, our security team has confirmed that no npm packages published by Vercel have been compromised. There is no evidence of tampering, and we believe the supply chain remains safe." Vercel is also working with Google Mandiant and other cybersecurity firms, industry peers, and law enforcement, as well as Context.ai, to understand the full scale of the security compromise. The company recommends that customers enable multi-factor authentication and make use of the sensitive environment variables feature. As compromised credentials can still provide access to production systems, customers need to rotate them before deleting Vercel projects or accounts. Customers should also review their account activity logs and environments for suspicious activity and investigate recent deployments for unexpected or suspicious-looking activity, deleting any that appear to be suspicious, according to the bulletin. Vercel Breach May Indicate Wider Attack on Enterprise Credentials AI chat app developer Theo Browne also warned on X that the breach could extend further: "The method of compromise was likely used to hit multiple companies other than Vercel." Austin Larsen, Principal Threat Analyst at Google Threat Intelligence Group, warned in a LinkedIn post that Vercel users should check whether their systems have been affected. "If your organization relies on their infrastructure, I strongly recommend you start looking into this immediately," Larsen wrote. The hacker claimed to be part of the notorious ShinyHunters group, but Larsen noted that "likely this is an imposter attempting to use an established name to inflate their notoriety." Israeli cybersecurity firm Hudson Rock connected the dots between an infostealer attack on Context.ai and the Vercel breach. "In a February 2026 Lumma stealer infection, a Context.ai employee with sensitive access privileges was compromised. A deep dive into the infected machine's browser history provides a textbook example of how these breaches originate," the firm noted. The user was actively searching for and downloading Roblox game exploits, which are well known for deploying Lumma stealer infections. Hudson Rock traced the single infection in Context.ai's systems to harvested corporate data including Google Workspace credentials, as well as keys and logins for Supabase, Datadog, and Authkit. The records included the [email protected] account, which gave the attacker the leverage needed to escalate privileges, bypass initial security perimeters, and enter Vercel's infrastructure. The compromised user was a core member of the "context-inc" Vercel team with direct access to critical administrative endpoints, according to the security firm. For its part, Context.ai pointed to a security incident involving unauthorized access to its AWS environment that it identified and stopped in March, stating: "At the time, we engaged CrowdStrike, a leading forensic firm, conducted an investigation, and informed a customer we identified as impacted. We also closed the AWS environment, hosting service, and associated resources to fully deprecate the consumer product." Following the notification from Vercel that its systems had been breached, the company found that OAuth tokens belonging to some users of its AI Office Suite were compromised during the incident. The suite allowed consumer users to enable AI agents to perform actions across external applications, facilitated by another third-party service. The statement explained: "One of those tokens was used by the attacker to access Vercel's Google Workspace. Vercel is not a Context customer, but it appears that at least one employee enabled 'allow all' on all requested Google Workspace permissions using their Vercel Google Workspace account." The permissions were intended to enable AI agents to carry out actions in Google Workspace on the user's behalf, such as writing emails or creating documents. Context.ai has since taken down the environment and the AI Office Suite's OAuth application. "We are supporting a subset of AI Office Suite users potentially impacted by a recent security incident that we detected and stopped," the company stated. "This incident does not affect Context's enterprise customers, whose Bedrock deployments run in their own infrastructure." Shadow AI Tools Introduce Hidden CX Risks The infiltration of a Vercel employee's third-party tool, which enabled access to the company's internal systems, highlights the risk to customer data from "shadow AI." As AI tools become embedded in day-to-day workflows, employees using them outside formal procurement and security review processes can inadvertently create hidden vulnerabilities. A compromise originating in a seemingly low-risk tool in customer support, product, and engineering functions can escalate into a security breach or accidental data exposure. That dynamic also complicates accountability and communication, as incidents tied to shadow AI tools can be harder for enterprises to detect and explain. CX teams may be required to respond to customer concerns before there is a clear internal narrative, increasing the risk of inconsistent or incomplete messaging. Browne emphasized the importance of clear communication and a focus on the impact on customers, posting: "Fwiw, I am impressed with how Vercel has handled this incident so far. They're taking it seriously. Notifying affected parties within minutes of identification. Being realistic about what they do and don't know. They're clearly more worried about their customers than their reputation right now and I have a lot of respect for that." "There's also a bunch of third parties they could throw under the bus but they are fully focused on fixing the issues instead." Hudson Rock, however, did not hold back in pointing the finger: "Hudson Rock obtained this compromised credential data over a month ago. Had this infostealer infection been identified and the exposed credentials revoked immediately, this entire supply-chain attack could have been completely prevented." The incident emphasizes "the critical importance of rapid detection and quick remediation of infostealer credentials before threat actors have the opportunity to operationalize the stolen access," the firm added. AI-Powered Cyber Attacks Raise Stakes for CX Resilience With Rauch noting that the attack on Vercel appeared to have been accelerated by the hacker using AI, Browne also warned that the prevalence of such cyber attacks will continue to rise as AI models become more capable of exploiting security vulnerabilities. "Incidents like this are never easy. We're going to start seeing more and more of them as LLMs get more powerful. IMO, they're doing this right." As this incident indicates, the growing presence of shadow AI in enterprise environments and the use of AI agents to perform actions autonomously expands the attack surface in ways that are likely to surface in the customer experience first, rather than backend systems. Enterprises increasingly need to ensure they incorporate AI governance into their CX risk management, setting policies around tool usage, access controls, and integration boundaries to help ensure customer-facing experiences remain stable and trustworthy.
German central bank chief calls for wide access to Anthropic's Mythos
German central bank chief Joachim Nagel called on Tuesday for all institutions to have access to Anthropic's artificial intelligence model Mythos to keep the playing field even and to avoid it being misused. The Bundesbank head said banking authorities must act to prevent the misuse of Anthropic's most advanced AI model to date, as it opens the door to new and sophisticated cyber risks. "Mythos is an AI model that appears capable of quickly identifying and exploiting security vulnerabilities in financial institutions' software," Nagel said in a speech. Mythos has sparked fears across the banking industry that it could be misused to exploit legacy IT system vulnerabilities. "This AI model seems to be a double-edged sword, since it could be used not only to improve digital security systems, but also to leverage their vulnerabilities for malicious purposes," Nagel said at an event in Rome. The capabilities of Mythos to code at a high level have given it a potentially unprecedented ability to identify cybersecurity vulnerabilities, experts say, prompting greater scrutiny from regulators globally. Also Read | US security agency is using Anthropic's Mythos despite blacklist: Report Anthropic has rolled out a preview of Mythos to a select number of companies and some organisations that build or maintain critical software infrastructure, prompting calls for wider access to the technology. "All relevant institutions should have access to such technology to avoid competitive distortions," Nagel said. Its advanced coding and autonomous capabilities could dramatically accelerate sophisticated cyberattacks, particularly in sectors such as banking that rely on complex, interconnected and often decades-old technology systems, experts have said. While debuting Mythos, Anthropic said the model's ability to find software flaws at scale could, if misused, pose serious risks to economies, public safety and national security. Story continues below this ad In broader comments on AI, Nagel challenged the notion it could help lower inflation, the core focus of central banks. Also Read | Mythos a serious threat but more will follow, Barclays CEO says He said AI increases investment demand, could raise incomes and push up electricity prices, all of which may increase inflationary pressures. Moreover, the use of algorithms may facilitate the setting of prices above competitive levels, Nagel warned. "There is evidence that AI algorithms are able to consistently learn to charge excessive prices, without communicating with one another," he said. Story continues below this ad "From a central banking perspective, this uncertainty calls for particular vigilance," Nagel added.
