Money versus Monetary Policy

OpenAI Misses Revenue, User Targets As CFO Fears $1.5 Trillion In Commitments Can't Be Paid Earlier today, when previewing this week's earnings by the Mag 7 which account for over $10 trillion in market cap set to report Q1 results after the close on Wednesday, Goldman's Delta-One head Rich Privorotsky said that "Equities are being driven by one thing…AI spend", and warned that "it's hard not to respect the strength of the AI bid, but the velocity has been extreme. The upside surprise vs expectations has almost entirely come from AI...

IRGC Seizes Ship With Witkoff-Kushner Team En Route To Pakistan; US Sanctions Chinese Refinery, Iran Shadow Fleet Summary IRGC seizes a ship it says 'collaborated with US' in provocative move ahead of Pakistan talks; Iran FM preparing written proposal for US side. President Trump is sending two envoys - Steve Witkoff and Jared Jushner - for talks with Iran in Pakistan, CNN reported, while Tehran sounded a more pessimistic tone on the prospects of further negotiations US hits Iran 'shadow fleet' with new sanctions, also takes aim at Chinese 'teapot' oil refinery. Third US...

UAE To Move 50% Of Government Services To AI By 2028 Finally a practical use of AI. In a world swimming in debt and overrun by government bloat and corruption, Dubai is taking a big step into the future. On Thursday, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President of the UAE and Ruler of Dubai, announced that in two years, 50% of UAE's government sectors, services, and operations will run on Agentic AI, arguably the best use of the new technology yet.  The new "government model" was launched under the directive of...