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A 7,000-word "doomsday" thought experiment from Citrini Research helped trigger an 800-point drop in the Dow, "painting a dark portrait of a future in which technological change inspires a race to the bottom in white-collar knowledge work," reports the Wall Street Journal. From the report: Concerns of hyperscalers overspending are out. Worries of software-industry disruption don't go far enough. The "global intelligence crisis" is about to hit. The new, broader question: What if AI is so bullish for the economy that it is actually bearish? "For the entirety of modern economic history, human intelligence has been the scarce input," Citrini wrote in a post it described as a scenario dated June 2028, not a prediction. "We are now experiencing the unwind of that premium." Many of Monday's moves roughly aligned with the situation outlined by Citrini, in which fast-advancing AI tools allow spending cuts across industries, sparking mass white-collar unemployment and in turn leading to financial contagion. Software firms DataDog, CrowdStrike and Zscaler each plunged more than 9%. International Business Machines' 13% decline was its worst one-day performance since 2000. American Express, KKR and Blackstone -- all name-checked by Citrini -- tumbled. That anxiety, coupled with renewed uncertainty about trade policy from Washington, weighed down major indexes Monday. The Dow Jones Industrial Average led declines, falling 1.7%, or 822 points. The S&P 500 shed 1%, while the Nasdaq composite retreated 1.1%. [...] Monday's market swings extended a run of AI-linked volatility. A small research outfit that has garnered a huge Substack following for macro and thematic stock research, Citrini said in its new post that software firms, payment processors and other companies formed "one long daisy chain of correlated bets on white-collar productivity growth" that AI is poised to disrupt. [...] Shares in DoorDash also veered 6.6% lower Monday after Citrini's Substack note called the delivery app a "poster child" for how new tools would upend companies that monetize interpersonal friction. In the research firm's scenario, AI agents would help both drivers and customers navigate food deliveries at much lower costs.

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An anonymous reader quotes a report from the Financial Times: Officials working with Donald Trump's "Board of Peace" are exploring setting up a stablecoin for Gaza as part of efforts to reshape the devastated Palestinian enclave's economy, according to five people familiar with the discussions. The talks around introducing a stablecoin -- a type of cryptocurrency whose value is pegged to a mainstream currency, such as the US dollar -- are at a preliminary stage, and many details of how one could be introduced in Gaza remain to be determined. But officials have discussed the idea as part of their plan for the future of the enclave, where economic activity collapsed during Israel's two-year war with Hamas and the traditional banking and payments system has been severely impaired. A person familiar with the project said the stablecoin was expected to be tied to the US dollar, with the hope that Gulf Arab and Palestinian companies with expertise in the field of digital currencies will help spearhead the effort. "This will not be a 'Gaza Coin' or a new Palestinian currency, but a means to allow Gazans to transact digitally," the person said. Work on the idea is being led by Liran Tancman, an Israeli tech entrepreneur and former reservist who is now working as an unpaid adviser to Trump's "Board of Peace," the US-led body tasked with rebuilding Gaza, according to two people familiar with the matter. [...] According to the person familiar with the project, the "Board of Peace" and NCAG will decide on the stablecoin's regulatory framework and access, although "nothing definitive" has yet been finalized. Speaking at a meeting of the "Board of Peace" in Washington last week, Tancman said the NCAG was working on building "a secure digital backbone, an open platform enabling e-payments, financial services, e-learning, and healthcare with user control over data", but did not elaborate.

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Big Blue has been saying this itself since 2013

IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code tools can accelerate refactoring of apps written in the ancient COBOL language.…

OpenAI has formed a multi-year "Frontier Alliance" with four consulting heavyweights to accelerate enterprise adoption of its no-code AI agent platform, OpenAI Frontier. TechCrunch reports: The alliance includes multi-year partnerships between OpenAI and four major consulting firms, Boston Consulting Group (BCG), McKinsey, Accenture and Capgemini, to sell its enterprise products. OpenAI's Forward Deployed Engineering team will work with the consulting giants to help them implement OpenAI's enterprise-focused technologies like OpenAI Frontier into customers' tech stacks. The company launched OpenAI Frontier in early February. The no-code open software allows users to build, deploy, and manage AI agents both built on OpenAI's AI models and beyond. OpenAI argues in its latest announcement that consultants are the right avenue to get enterprises on board. "AI alone does not drive transformation. It must be linked to strategy, built into redesigned processes, and adopted at scale with aligned incentives and culture to deliver sustained outcomes," BCG CEO Christoph Schweizer said in OpenAI's blog post. "Our expanded partnership combines OpenAI's Frontier platform with BCG's deep industry, functional, and tech expertise and BCG X's build-and-scale capabilities to drive measurable impact with safeguards from day one."

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'This is a warning. We know you live right here'

Two US residents have sued several Homeland Security agencies and officials, including Secretary Kristi Noem, for allegedly using surveillance tools to harass them, branding them as "domestic terrorists," and even showing up at their homes based on license-plate recognition. …

Panasonic is handing over the manufacturing, marketing, and sales of its TVs to Shenzhen-based Skyworth, effectively exiting in-house TV production. Ars Technica reports: Skyworth is a Shenzhen-headquartered TV brand. The company claims to be "a top three global provider of the Android TV platform." In July, research firm Omdia reported that Skyworth was one of the top-five TV brands by sales revenue in Q1 2025; however, Skyworth hasn't been able to maintain that position regularly. Panasonic made its announcement at a "launch event," FlatpanelsHD reported today. During the event, a Panasonic representative reportedly said: "Under the agreement the new partner will lead sales, marketing, and logistics across the region, while Panasonic provide expertise and quality assurance to uphold its renowned audiovisual standards with full joint development on top-end OLED models." Panasonic also said that it will provide support "for all Panasonic TVs sold up to March 2026 and all those available from April." Skyworth-made Panasonic TVs will be sold in the US and Europe. In the latter geography, the companies are aiming for double-digit market share. [...] The news means there's virtually no TV production happening in Japan anymore, as other Japanese companies, like Sharp, Toshiba, Hitachi, and Pioneer, have already exited TV production. Earlier this year, Sony announced that it was ceding control of its TV hardware business to TCL.

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An anonymous reader quotes a report from Reuters: Researchers at ASML Holding say they have found a way to boost the power of the light source in a key chip making machine to turn out up to 50% more chips by decade's end, to help retain the Dutch company's edge over emerging U.S. and Chinese rivals. ASML is the world's only maker of commercial extreme ultraviolet lithography (EUV) machines, a critical tool for chipmakers such as TSMC, Intel and others in producing advanced computing chips. "It's not a parlor trick or something like this, where we demonstrate for a very short time that it can work," Michael Purvis, ASML's lead technologist for its EUV source light, said in an interview. "It's a system that can produce 1,000 watts under all the same requirements that you could see at a customer," he added, speaking at the company's California facilities near San Diego. [...] With the technological advance revealed on Monday, which is being reported here for the first time, ASML aims to outdistance any would-be rivals by improving the most technologically challenging aspect of the machines. This is the quest to generate EUV light with the right power and properties to turn out chips at high volume. The company's researchers have found a way to boost the power of the EUV light source to 1,000 watts from 600 watts now. The chief advantage is that greater power translates into the ability to make more chips every hour, helping to lower the cost of each. Chips are printed similar to a photograph, where the EUV light is shone on a silicon wafer coated with special chemicals called a photoresist. With a more powerful EUV light source, chip factories need shorter exposure times. "We'd like to make sure that our customers can keep on using EUV at a much lower cost," Teun van Gogh, executive vice president for the NXE line of EUV machines at ASML, told Reuters. Van Gogh said customers should be able to process about 330 silicon wafers an hour on each machine by the end of the decade, up from 220 now. Depending on the size of a chip, each wafer can hold anywhere from scores to thousands of the devices. ASML got the power boost by doubling down on an approach that already places its machines among the most complex inventions of humans. To produce light with a wavelength of 13.5 nanometers, ASML's machine shoots a stream of molten droplets of tin through a chamber, where a massive carbon dioxide laser heats them into plasma. This is a superheated state of matter in which the tin droplets become hotter than the sun and emit EUV light, to be collected by precision optic equipment supplied by Germany's Carl Zeiss AG and fed into the machine to print chips. The key advancements in Monday's disclosure involved doubling the number of tin drops to about 100,000 every second, and shaping them into plasma using two smaller laser bursts, as opposed to today's machines that use a single shaping burst. [...] ASML believes the techniques it used to hit 1,000 watts will unlock continued advances in the future, Purvis said, adding, "We see a reasonably clear path toward 1,500 watts, and no fundamental reason why we couldn't get to 2,000 watts."

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What do Taylor Swift and Drake’s release days have to do with road deaths? More than you’d think

Who doesn’t like streaming music while driving? Unfortunately, new research suggests that when major albums drop and streaming spikes, traffic fatalities rise too.…

IBM shares plunged nearly 13% on Monday after Anthropic published a blog post arguing that its Claude Code tool could automate much of the complex analysis work involved in modernizing COBOL, the decades-old programming language that still underpins an estimated 95% of ATM transactions in the United States and runs on the kind of mainframe systems IBM has sold for generations. Anthropic said the shrinking pool of developers who understand COBOL had long made modernization cost-prohibitive, and that AI could now flip that equation by mapping dependencies and documenting workflows across thousands of lines of legacy code. The sell-off deepened a rough 2026 for IBM, whose shares are now down more than 22% year to date.

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Company tries to curb strain by banning customer accounts for 'malicious' usage

Google customers paying $250 per month for AI Ultra subscriptions and less extravagant spenders have been surprised to find their accounts suspended for using the company's Antigravity agent development app and Gemini services with third-party agent tools like OpenClaw and OpenCode.…

Nv-based integrated graphics for Wintel box also in the works

Your next laptop may have Nvidia inside – not in the form of a GPU, but as a system on a chip, complete with CPU. Team Green could be chipping away at Intel's marketshare and giving people Arm-based systems that compete with Apple's MacBook line.…

Not the first of its kind

ai-pocalypse Anthropic sent the infosec community into a tizzy on Friday when it rolled out Claude Code Security, a new feature that scans codebases for vulnerabilities and suggests patches to fix the issues.…

Linus Torvalds has pondered his professional mortality in a self-deprecating post to mark the release of the first release candidate for version 7.0 of the Linux kernel. From a report: "You all know the drill by now: two weeks have passed, and the kernel merge window is closed," he wrote in the post announcing Linux 7.0 rc1. "We have a new major number purely because I'm easily confused and not good with big numbers." Torvalds pointed out that the numbers he applies to new kernel releases are essentially meaningless. "We haven't done releases based on features (or on "stable vs unstable") for a long, long time now. So that new major number does *not* mean that we have some big new exciting feature, or that we're somehow leaving old interfaces behind. It's the usual "solid progress" marker, nothing more.â He then reiterated his plan to end each series of kernels to end at x.19, before the next release becomes y.0 -- a process that takes about 3.5 years -- and then pondered what happens when the next version of Linux reaches a number he finds uncomfortable. "I don't have a solid plan for when the major number itself gets big," he admitted, "by that time, I expect that we'll have somebody more competent in charge who isn't afraid of numbers past the teens. So I'm not going to worry about it."

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Despite AI's progress in building complex software, the ubiquitous PDF remains something of a grand challenge -- a format Adobe developed in the early 1990s to preserve the precise visual appearance of documents. PDFs consist of character codes, coordinates, and rendering instructions rather than logically ordered text, and even state-of-the-art models asked to extract information from them will summarize instead, confuse footnotes with body text, or outright hallucinate contents, The Verge writes. Companies like Reducto are now tackling the problem by segmenting pages into components -- headers, tables, charts -- before routing each to specialized parsing models, an approach borrowed from computer vision techniques used in self-driving vehicles. Researchers at Hugging Face recently found roughly 1.3 billion PDFs sitting in Common Crawl alone, and the Allen Institute for AI has noted that PDFs could provide trillions of novel, high-quality training tokens from government reports, textbooks, and academic papers -- the kind of data AI developers are increasingly desperate for.

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U.S. artificial-intelligence startup Anthropic said three Chinese AI companies set up more than 24,000 fraudulent accounts with its Claude AI model to help their own systems catch up. From a report: The three companies -- DeepSeek, Moonshot AI and MiniMax -- prompted Claude more than 16 million times, siphoning information from Anthropic's system to train and improve their own products, Anthropic said in a blog post Monday. Earlier this month, an Anthropic rival, OpenAI, sent a memo to House lawmakers accusing DeepSeek of using the same tactic, called distillation, to mimic OpenAI's products. Anthropic said distillation had legitimate uses -- companies use it to build smaller versions of their own products, for example -- but it could also be used to build competitive products "in a fraction of the time, and at a fraction of the cost." The scale of the different companies' distillation activity varied. DeepSeek engaged in 150,000 interactions with Claude, whereas Moonshot and MiniMax had more than 3.4 million and 13 million, respectively, Anthropic said.

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Russinovich and Hanselman say firms must train juniors to fix agent mistakes – not replace them with prompts

Microsoft Azure CTO Mark Russinovich and VP of Developer Community Scott Hanselman have written a paper arguing that senior software engineers must mentor junior developers to prevent AI coding agents from hollowing out the profession's future skills base.…

Project ditches Swift and translates C++ with LLM assistance

The independent Ladybird web browser project is changing course on its choice of programming languages, with LLM-based coding assistants helping to evaluate the shift.…

The first fiber-optic cable ever laid across an ocean -- TAT-8, a nearly 6,000-kilometer line between the United States, United Kingdom, and France that carried its first traffic on December 14, 1988 -- is now being pulled off the Atlantic seabed after more than two decades of sitting dormant, bound for recycling in South Africa. Subsea Environmental Services, one of only three companies in the world whose entire business is cable recovery and recycling, began the operation last year using its new diesel-electric vessel, the MV Maasvliet, and had already brought 1,012 kilometers of the cable to the Portuguese port of Leixoes by August. TAT-8, short for Trans-Atlantic Telephone 8, was built by AT&T, British Telecom, and France Telecom, and hit full capacity within just 18 months of going live. A fault too expensive to repair took it out of service in 2002. The recovered cable is being shipped to Mertech Marine in South Africa, where it will be broken down into steel, copper, and two types of polyethylene -- all commercially valuable, especially the high-quality copper at a time when the International Energy Agency projects global shortages within a decade.

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Sending humans around the Moon in February, er, March - now April 2026, maybe

The quest to return to the Moon has hit another snag. NASA is delaying Artemis II again, as interrupted helium flow to the rocket’s upper stage forces a rollback to the Vehicle Assembly Building (VAB) and wipes out the March launch window.…

An anonymous reader shares a report: PayPal, the digital payments pioneer, is attracting takeover interest from potential buyers after a stock slide wiped out almost half of its value, according to people familiar with the matter. The San Jose, California-based company has fielded meetings with banks amid unsolicited interest from suitors, the people said. At least one large rival is looking at the whole company, while some other suitors are only interested in certain PayPal assets, the people said, asking not to be identified because the information is private. Buyer interest in PayPal is still at a preliminary stage and may not lead to a transaction, the people cautioned. Founded in the late 1990s, PayPal was an early mover in the world of digital payments. But the company now finds itself in a rut with its customers increasingly turning to alternative ways to pay for things. PayPal's shares have fallen around 46% in New York trading over the last 12 months, giving the company a market value of about $38.4 billion.

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