70 strangers just trained a 72B parameter AI model over the regular internet. No data centre. No whitelist. No central coordinator.
Covenant 72B @tplr_ai on $TAO Bittensor Subnet 3.
Largest permissionless decentralised pretraining run in history.
Our internal data shows Claude is accelerating AI development—a possible path to recursive self-improvement, or AI autonomously building a more capable successor.
It’s happening faster than we thought, and the implications deserve greater attention. https://t.co/OVVPJO7VQx
BREAKING: April CPI inflation rises to 3.8%, its highest level since May 2023.
Core CPI inflation also rose to 2.8%, above expectations of 2.7%.
We are now experiencing post-pandemic inflation levels amid surging oil prices.
Odds of Fed rate HIKES are surging.
We’ve agreed to a partnership with @SpaceX that will substantially increase our compute capacity.
This, along with our other recent compute deals, means that we’ve been able to increase our usage limits for Claude Code and the Claude API.
UAE leaves OPEC after 59 years. Timed for Hormuz closure to minimise market impact. Production could nearly double without quota constraints.
When founding members of 60 year institutions exit during wars, they're positioning for a post-institutional world.
$CL $XAUUSD
BREAKING: The UAE announces it will be leaving OPEC effective May 1st.
This will officially end the UAE's 59-year membership in the organization.
The Iran War is redefining the global energy industry forever.
Introducing Claude Opus 4.7, our most capable Opus model yet.
It handles long-running tasks with more rigor, follows instructions more precisely, and verifies its own outputs before reporting back.
You can hand off your hardest work with less supervision.
🇭🇺 🧵HUGE! Magyar Péter RESPONDS to the 27 Demands of the European Union!
"Only 4 of those 27 conditions will be fulfilled!"
•Strengthening anti-corruption measures
•Restoring independence to investigative authorities/ judicial system.
•Restoring press freedom (government funds will stop)
•Restoring freedom in the academic environment.
Everything Else will be Protected!
Magyar Péter communicates the fact, that the policies of no income tax for mothers and pensions will NOT be changed. He also states he doesn't plan to increase income taxes.
Magyar wants to keep the southern border fence, and REJECTS the EU Migration and Asylum Pact.
He states his priority is to reinstate the Druzhba pipeline's operation as its the key to Hungary's economy.
He also OUTLINES Ukraine, will NOT enter the EU unless they come to an agreement of suitable rights for ethnic Hungarians in Transcarpathia, including restoring the linguistic, educational, and cultural rights.
Magyar states any money sent from the EU to Ukraine, Hungary will opt out of. He also plans to conduct a referendum on Ukraine's accession into the EU.
The rights, programs and support for ethnic Hungarians is also to be continued and NOT abandoned.
He also states he will DEFEND Hungary's interests and is NOT a federalist.
Overall, it is increasingly looking like not a lot will change. Alot of Orbán's international allies have also congratulated him already.
I'm increasingly getting the idea that the EU and the NGOs have no idea who they placed into power. They made a huge compromise with Hungary's patriots just to win the elections in Hungary.
I'm also seeing a tendency that his anti-Orbán but mainly anti-Fidesz position is largely just cinema. To show to the West and the leftists that voted him that there will be a 'change' in the country.
The leftists also made a huge compromise because they don't constitute any political party in the Hungarian Parliament anymore.
The actual leadership around Magyar is dominated by centre-right, technocratic, and ex-fidesz pragmatists — not hardcore leftists or green activists.
The parliamentary group of the Tisza party is mixed but centre-right dominated. It is not evenly split left/right. The left/green element is visible but secondary. They were more present in the voter base over actual elected MPs.
The faction is built around Magyar’s centre-right inner circle. The left-liberal baggage exists but is mostly in the voter coalition and lower ranks.
Overall, I would say this is good news. Although I would be still cautious especially of their status in the EPP, but it may be true that we just elected one patriot with another. Let's also NOT forget Fidesz and Orbán were in the EPP until 2021.
One is for certain, Hungary will NO longer block or veto Ukraine's weapons or money from the EU, and we will be in this regard be "re-accepted by NATO".
So good luck, for the rest of the European Union because we held out for 4 years.
Now, you don't have Hungary to blame for all your pro-Ukraine goals and the risks of a larger war is looming even greater in Europe.
The ceasefire lasted 5 days.
Peace talks failed. The US is now blockading Hormuz itself. Strikes back on the table. Infrastructure threats resumed.
$WTI +10%. $SPX -1%. $GLD ETFs are bleeding $12B.
Day 44 of the Iran War.
Ceasefire less than 24 hours old and already fracturing. Lebanon excluded. Hormuz tolled in yuan. Gulf states under missile alerts.
Dalio: “We are in a world war that isn’t going to end anytime soon.”
Islamabad Friday determines if it holds.
$SPX $XAUUSD $CL
1/ Five weeks of war. Two chokepoints threatened. A Truth Social ultimatum. Then, a Pakistan-brokered ceasefire before the deadline.
Oil dropped 14% in one session. Largest single-day decline since 1991. $SPX futures +2.5%. Nikkei +4.9%.
5/ The structural picture hasn't changed. GDP at 0.7%. Core PCE at 3.1%. Fed still trapped. Gold at ~$4,800 as the war premium fades, but JPM $6,300 target unchanged. Central banks still accumulating.
Two weeks is a window for relief, but not a peace deal yet...
1/ Five weeks of war. Two chokepoints threatened. A Truth Social ultimatum. Then, a Pakistan-brokered ceasefire before the deadline.
Oil dropped 14% in one session. Largest single-day decline since 1991. $SPX futures +2.5%. Nikkei +4.9%.
4/ Seasonal tailwind: April is historically the strongest month for global equities. MSCI World positive 75% of the time, averaging +2.0%. If the ceasefire holds through talks, seasonality and de-escalation compound.
$SPX $XAUUSD $CL
Hello, Moon. It’s great to be back.
Here’s a taste of what the Artemis II astronauts photographed during their flight around the Moon. Check out more photos from the mission: https://t.co/rzM1P0QbOl
Hormuz and Bab al-Mandeb... That's ~32% of global seaborne trade under threat simultaneously.
The last time two major chokepoints were disrupted at once was the 1973 embargo.
$150 oil could be likely if both close.
$CL $XAUUSD
BREAKING: Iran officially threatens to close the Bab al-Mandeb Strait "if the situation gets out of control," per Reuters.
Details include:
1. Iran says the "entire region and Saudi Arabia will fall into darkness" if the US attacks Iran's power plants
2. The IRGC said it would not hesitate to retaliate if the US targets civilian facilities
3. The Bab al-Mandeb Strait currently accounts for ~12% of global seaborn trade
4. If Bab al-Mandeb is shut, we believe $150/barrel oil is a possibility
Trump's deadline is now less than 10 hours away.
Liftoff.
The Artemis II mission launched from @NASAKennedy at 6:35pm ET (2235 UTC), propelling four astronauts on a journey around the Moon.
Artemis II will pave the way for future Moon landings, as well as the next giant leap — astronauts on Mars.
Posted this last week. 70 strangers trained a 72B model over commodity internet. No data centre. No whitelist.
@chamath: “pretty crazy technical accomplishment” to Jensen Huang on @theallinpod is signal. Decentralised AI is crossing from crypto-native to mainstream.
$TAO $NVDA
On the @theallinpod this week, @chamath asked @nvidia CEO Jensen Huang about decentralized AI training, calling our Covenant-72B run "a pretty crazy technical accomplishment."
One correction: it's 72 billion parameters, not four. Trained permissionlessly across 70+ contributors on commodity internet. The largest model ever pre-trained on fully decentralized infrastructure.
Jensen's answer is worth hearing too.