American computer scientist and software engineer, Google DeepMind chief scientist
Economists and AI researchers warn that AI could drive a transformation larger than the Industrial Revolution within a decade, bringing risks like job displacement but also rising living standards. The Stanford-led letter urges governments and industry to build incentives, guardrails, and institutions to steer AI so it complements humans.
Moonshot has released Kimi K3, an open-weight model that independent tests say matches frontier performance and has prompted investor selling in chip stocks. Tech figures and regulators are trading accusations about distillation and national security, while industry voices argue the alarm is exaggerated.
Global stocks have rallied this month after officials reported progress in talks to reopen the Strait of Hormuz, and a string of strong corporate earnings has bolstered investor sentiment. Treasuries and oil prices have fallen as traders pare back expectations for near-term Fed hikes; strategists warn valuations and one-off earnings boosts limit further upside.
Fed dissenters argue inflation remains too high and supply shocks persist; they advocate a series of small rate increases to curb inflation, while the majority holds rates steady. The coming months will test whether this hawkish push gains traction.
Google has reorganised its AI leadership: Demis Hassabis has stepped back from day-to-day running of DeepMind to become its chair and Alphabet chief scientist, and Koray Kavukcuoglu has been promoted to senior vice-president to run Google DeepMind. Several senior engineers, including Jeff Dean and Sanjay Ghemawat, have left to launch a new startup; Alphabet shares have fallen.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.