🚨BREAKING: 🇺🇸Sen. Bernie Sanders unveils bill that would BAN superintelligent AI worldwide.
The “Ban Artificial Superintelligence Act” would permanently ban its development and deployment in the US.
It would also pause advanced AI development until a new Department of AI sets safety rules.
The bill would direct the US to work with other countries to prevent its development elsewhere.
THURSDAY | Join @JapanChair for a discussion with leading experts on opportunities for the United States and Japan to play a leadership role in addressing pressing economic and security challenges.
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German 🇩🇪 Chancellor Merz has admitted that his CDU party suffered a massive loss with only 5% of the vote in Mecklenburg-Vorpommern.
The AfD surged with 37% of the vote and the CDU secured merely 5.5%
In a different election, Die Linke (the communists) won in Berlin, which is the capital of Germany.
Chancellor Merz's personal approval rating has fallen to just 10% nationally. But he refuses to resign. He will likely need to be kicked out by his own CDU party members.
🇺🇸🇨🇳 JUST IN: Sam Altman says Trump and Xi would "get the Nobel Peace Prize" if they agree on AI safety standards.
"Even if just the US and China could agree on some shared standards and testing, I think that'd be a wonderful accomplishment."
🩸EXACTLY one year ago today, Oracle closed 36% higher after touching an all-time intraday high of $345.72.
Tonight it reports earnings at $156, down 55% and needing a 121% rally to get back.
From $345 to $114 in less than 11 months, a 67% wipeout that erased roughly $600 BILLION in market value at the July low.
The stock briefly rebounded to $248 in June before falling 54% in just 57 days back to $114.
Yet Oracle's key growth metrics moved in the opposite direction.
- Record Q4 revenue of $19.2 BILLION, up 21%
- Cloud infrastructure surged 93% to $5.8 BILLION
- Backlog hit $638 BILLION, up 363% year-over-year
So why is the stock collapsing?
Free cash flow went NEGATIVE $23.7 BILLION in fiscal 2026.
Oracle raised $43 BILLION in debt to fund its AI infrastructure buildout.
It plans to raise another $40 BILLION through debt and equity in fiscal 2027.
Tonight's earnings will show whether Oracle met its guidance for total cloud growth of 58-64%.
The $638 BILLION backlog is there, the question is how quickly it translates into revenue and cash flow.
🚨UPDATE: White House crypto adviser Patrick Witt says PROGRESS has been made on all outstanding disagreements.
Talks CONTINUE on ethics provisions, stablecoin rewards and yields ahead of an expected September 15 Senate procedural vote.
Senator Cynthia Lummis says Democrats helped her write the bill.
“Now they need to vote for the bill they built,” Lummis said.
🚨HUGE: 12 European nations announce plans to restrict trade with Israeli settlements in the occupied West Bank.
The measures target trade with the settlements, rather than all trade with Israel, per Euronews.
The group includes Britain, France, Denmark, Finland, Iceland, Ireland, Norway, Poland, Portugal, Spain and Sweden.
The UK plans to ban imports of settlement goods.
The countries also condemned Israeli tenders for around 1,200 homes in a settlement area, warning the expansion threatens a two-state solution.
Israel responded by ordering the closure of the British consulate in Jerusalem and barring entry to 12 British nationals.