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09.05.26 - 22:36
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Wall Street Keeps Testing AI Traders, But Most Are Still Underperforming (ZeroHedge)
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Wall Street Keeps Testing AI Traders, But Most Are Still Underperforming
Recent trading competitions suggest large language models are still unreliable portfolio managers, according to Bloomberg.
Tests involving models from OpenAI, Anthropic, Google, and xAI have often delivered underwhelming results: many lost money, traded excessively, and made erratic decisions despite receiving identical prompts. In several cases, models appeared unable to stick to coherent strategies for more than a few trading sessions.
Bloomberg writes that one of the clearest examples came from Alpha Arena, a competition created by startup Nof1. Eight models were each given $10,000 and asked to trade U.S. tech stocks over a two-week period using different strategies, including defensive approaches and leveraged bets. Across four competitions, the models collectively lost roughly a third of their capital, and only six of 32 outcomes ended in profit.
The gap in behavior was striking: xAI's Grok 4.20 made just 158 trades...
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09.05.26 - 16:01
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Companies name AI as top reason for job cuts for second straight month: Analysis (The Hill)
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Companies are increasingly citing artificial intelligence as justification for layoffs, according to a new analysis highlighting growing concerns about AI's impact on the workforce. U.S.-based employers announced 83,387 job cuts in April, a 38 percent increase from March, according to a report released Thursday by Challenger, Gray & Christmas. Layoffs were still down 21 percent......
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09.05.26 - 13:18
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′Peak TV is behind us′: UK developers pivot from building studios to datacentres amid AI boom (The Guardian)
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Ambitious plans are being scaled back – but film and TV industry point to big existing investments in British productionHollywood blockbusters including the eagerly anticipated Beatles biopics and big-budget TV series such as Bridgerton have been keeping the UK's film and TV studio facilities packed.But as the streaming wars recalibrate having passed “peak TV”, a slowdown in the content arms race is prompting property developers to switch to building datacentres amid the AI boom. Continue reading......
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09.05.26 - 12:48
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The fight against AI data centers isn′t just about tech – it′s about democracy | Astra Taylor and Saul Levin (The Guardian)
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Claims of nimbyism are a misunderstanding: the movement is about whether regular people have a say in fundamental decisionsSince the surreal scene at the 2024 presidential inauguration, when a row of big tech titans took their VIP seats and signaled their new alliance with Maga, the Trump administration has rolled out the red carpet for Silicon Valley's AI ambitions and shareholder priorities.Washington has doled out billions in lucrative federal subsidies and contracts to the cash-rich sector, bloating an AI bubble that experts warn may imperil the entire economy while prohibiting any guardrails on the fast-moving technology. Continue reading......
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09.05.26 - 12:36
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How dangerous is Anthropic′s Mythos AI? | Bruce Schneier (The Guardian)
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The system's power is comparable to others – but it still has frightening implications for the future of hackingLast month, Anthropic made a remarkable announcement about its new model, Claude Mythos Preview: it was so good at finding security vulnerabilities in software that the company would not release it to the general public. Instead, it would only be available to a select group of companies to scan and fix their own software.The announcement requires context – but it contained an essential truth. Continue reading......
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09.05.26 - 12:06
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What′s driving the TSMC-Sony AI sensor JV? (Digitimes)
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TSMC and Sony Semiconductor Solutions signed a non-binding memorandum of understanding on May 8 to establish a joint venture developing and manufacturing next-generation AI image sensors, targeting automotive, robotics and advanced smartphone camera markets. The planned venture will be headquartered at Sony's new facility in Kōshi, Kumamoto Prefecture, with Sony holding a majority stake and operational control....
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