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Canada’s tech sector saw momentum this week, with announcements spanning venture capital and quantum computing, as well as global policy leadership news out of the G7 summit.

Axl on a mission to retain Canadian innovation

On Tuesday (June 17), Axl, a newly founded Canadian venture studio, announced plans to help launch 50 artificial intelligence (AI) companies in Canada over the next five years, supported by a C$15 million fund led by co-founder Daniel Wigdor, a computer science professor at the University of Toronto.

The venture’s other founders are Tovi Grossman, another University of Toronto professor, entrepreneur Ray Sharma and former Telus (TSX:T,NYSE:TU) executive David Sharma. Mining magnate Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Smart Technologies co-founder David Martin are also investors.

According to Wigdor, Axl will tackle practical business problems and connect them with promising academic research in a bid to keep Canadian innovation at home. “The social contract academics believe we have with society is that we invent these technologies and inspire people,” he told the Globe and Mail on Tuesday. “The tragedy is that the foundational technologies we’re inventing in Canada are not accruing capital for Canada.’

Wigdor pointed to his own career as a cautionary tale, explaining that the iPhone’s multi-touch interface was presaged by research he conducted in the early 2000s for his University of Toronto thesis, which itself built on concepts pioneered by University of Toronto professor Bill Buxton in the 1980s.

Other University of Toronto AI breakthroughs fueled the international rise of figures like Geoffrey Hinton, OpenAI co-founder Ilya Sutskever and xAI’s Jimmy Ba, all of whom took their expertise to US-based companies.

Carney talks tech leadership at G7 summit

Initiatives like Axl’s signal a proactive approach to Canada’s challenge of retaining tech talent and capitalizing on its world-class research; however, its success will hinge on broader public support.

Prime Minister Mark Carney has signaled that fostering tech innovation at home is a priority. He told G7 leaders that driving the digital transition, led by AI and quantum computing, would be one of his top goals at the summit.

Quantum technology was reportedly discussed at length during the two day meeting, which took place in Kananaskis, Alberta. In addition, a joint statement from members released by the prime minister’s office indicates that Canada will launch the G7 GovAI Grand Challenge and host a series of Rapid Solution Labs “to develop innovative and scalable solutions to the barriers we face in adopting AI in the public sector.”

That emphasis echoes longstanding concerns from the research community.

A 2024 letter acquired by the Logic and sent to then-innovation minister François-Philippe Champagne by the Quantum Advisory Council cites the significant sums that other countries have invested in quantum technology.

“The cost of inaction is tremendous,” the group wrote at the time, pointing to Canada’s history of “inventing core technologies,” but letting other countries “grow industries around our inventions.”

The council proposed a C$1 billion program that would mirror the Quantum Benchmarking Initiative (QBI), which fosters domestic quantum computing in the US. The QBI has selected 18 companies for its first phase, including three from Canada; firms that demonstrate the ability to build a functional quantum computer by 2033 will be eligible to receive up to US$316 million, making it a potential “kingmaker” program.

The second phase of the program is set to launch in August 2025. While no relocation demands have been made, concerns exist that later-stage QBI terms could force Canadian winners to the US.

The Quantum Advisory Council said its proposed program would be run by the National Research Council, which would independently assess firms to accelerate the development of competitive domestic quantum companies.

It would build on a C$360 million national quantum strategy announced in April 2021.

The council’s recommendations include increased grants for scientific and social science research into quantum technologies, and a new federal clusters program to foster regional quantum ecosystems encompassing research, development and training, alongside ethical and secure use. It also calls for significant investment in quantum-safe software certification and the development of other security systems.

In a speech at the Quantum Now conference in Montreal on Thursday (June 19), Canada’s AI minister, Evan Solomon, emphasized the need to protect Canada’s talent pipeline. “We cannot allow short-term funding opportunities to hollow out our domestic capabilities or transfer generations of Canadian innovation outside our borders,” he said.

Earlier this month, the minister said he would move away from “over-indexing on warnings and regulation” and instead focus on finding ways to unleash the economic potential of AI. The ongoing collaboration between government initiatives and private ventures will be key to unlocking Canada’s full potential in the new digital era.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

President Donald Trump will be engaging in numerous foreign policy discussions this upcoming week at a NATO summit, where more than just Ukraine will be the focus of conversations between foreign leaders. 

A senior Trump official told the Wall Street Journal Sunday that the president still intends to attend the summit that will be held in The Hague, starting Wednesday. He will depart for the Netherlands on Tuesday and arrive late in the evening the same day. 

It is a slight schedule change from his originally planned departure date of Monday, per previous reports.

Trump was expected to attend a state dinner between foreign leaders on Tuesday evening, but it is unclear whether he will still attend due to the late-Tuesday arrival time. The White House did not respond to Fox News Digital’s requests for additional information about the president’s schedule.

The schedule change comes after the president recently abruptly left the G7 economic summit in Canada to attend to the ongoing situation in the Middle East that tamped up Saturday.

The summit between foreign leaders will likely include conversations about Trump’s recent decision to involve the United States in Israel’s campaign in the Middle East. 

Ukrainian President Volodymyr Zelenskyy is expected to be in attendance as well, with leaders expected to discuss ongoing assistance to Ukraine amid its ongoing war with Russia. However, Ukraine’s crisis is not expected to be the central issue of concern, with global tensions in Iran likely to take a major chunk of the summit’s attention. 

Leaders are also expected to discuss NATO Secretary-General Mark Rutte’s proposal that each member country contribute at least 5% of their gross domestic product to defense spending. The idea, framed as a Trump win, has been rejected by Spain, while others have taken issue with the speed at which the move to increase NATO-member defense spending has taken.

The summit will end Wednesday and Trump will depart back to Washington thereafter. There will be heavy security and protesters have already taken to the streets in protest of the upcoming summit.

This post appeared first on FOX NEWS

With President Donald Trump’s extraordinary decision to attack three of the key/critical Iranian nuclear sites, two questions emerge: First, how will the Iranian populace react to the decision? Second, will this hurt or help the chances for regime change?

Of course, we will not get answers to these questions immediately. But I think it’s fair to say that history, in the not-so-distant past, offers an instructive guide to what could well happen. 

While it is challenging at this point to answer these questions with a high degree of certainty, there is one historical analogy which I was deeply involved in that may provide insights.

More than 24 years ago, while working in the Bill Clinton administration, I was one of the principal actors advising the State Department on the situation in Serbia. There, I led on-the-ground efforts to demonstrate to the Serbian opposition that President Slobodan Milosevic could be beaten.

At the time, many in both the U.S. and Serbia thought that nearly 80-days of NATO bombings and the 1999 Kosovo war had produced a rally around the flag effect in favor of Milosevic.

And yet, the polls I conducted conclusively demonstrated the opposite. 

The data revealed that, despite efforts by the regime to portray Milosevic as strong and popular, he was extremely weak, with a 70% unfavorable rating.

As was acknowledged in the Washington Post at the time, the strategic guidance I provided based on those polls led to the development of a campaign that soon toppled a regime few thought was quite so vulnerable.

There are striking parallels between Milosevic’s downfall and the situation the Khamenei regime finds itself in today.

In both, there are some who feel that foreign airstrikes would strengthen nationalist sentiment in favor of a regime that prioritizes projecting an aura of popularity despite being incredibly disliked by its citizens. 

Further, in Serbia, we found that there was pervasive anger towards the government, particularly over the poor state of the economy. In Iran, there is similar – if not even more intense – dissatisfaction with the regime’s chronic mishandling of economic and national policy.

To be sure, polling data from inside Iran is limited, although Stasis, a firm which specializes in conducting methodologically-sound surveys in the country, released a poll last October that is telling.

They found that nearly 8-in-10 (78%) Iranians feel that the government’s policies are to blame for the country’s economic struggles.

Additionally, in a country of 90 million, where roughly 60% are under the age of 30, the same poll shows that more than three-quarters (77%) of Iranians believe that ‘Iranian youth do not see prosperity for their future in Iran.’

All of this is to say that like Milosevic’s regime, the Iranian government appears to have strong popular support, but underneath the surface, is extremely weak and vulnerable.

For many, the idea that Israel – and especially Prime Minister Benjamin Netanyahu – could bring about regime change in Iran is hard to take seriously. 

But, a more detailed examination of the current situation, as well as Iran’s own recent history, supports the notion that Netanyahu could be more accurate than not.

Consider the history: Since 2009, there have been 10 nationwide protest movements, with millions of Iranians taking to the streets against the government.

And while there was a wide range of causes for those protests – from blatant election fraud to the most recent demonstrations set off by the killing of Mahsa Amini – they all underscore widespread opposition to the current regime. 

In that same vein, much like I saw in Serbia, the large number of protests and their various causes reveal a significantly large opposition that, under the right conditions, can effectively mobilize and pressure the regime. 

To that end, whereas we had to actively organize those movements in Serbia, those conditions are already evident in Iran, and on a much greater scale.

Aside from the bleak future facing Iran’s youth, the regime’s oppressive laws towards its nearly 44 million female citizens have turned virtually one-half of the population into second-class citizens with little to lose from rising up, as hundreds of thousands did during the 2022 Mahsa Amini protests. 

Underscoring just how deep the hatred is towards the regime, Iran International has reported receiving letters expressing personal thanks to Netanyahu, and the Jerusalem Post reported than an Iranian source told them, ‘This war has greatly strengthened and revived new optimism’ among Iranians for regime change.

The Post’s source inside Iran continued, saying that ‘conversations around the capital city (Tehran) are focused on the final days of the regime and that they brought it on themselves.’

Outside of Iran, the debate has already begun.

On one side are leaders such as Israeli Prime Minister Benjamin Netanyahu, as well as journalists like former National Security Advisor John Bolton, and Yorktown Institute President Seth Cropsey.

Those men have argued – Bolton and Cropsey in the Wall Street Journal, and Netanyahu speaking to Fox News’ Bret Baier and in other forums – that this is the most opportune moment for regime change in Iran since the revolution in 1979.

Given the deep reservoir of anti-regime sentiment among the Iranian people, the argument goes, the best course of action is that Israel’s destruction of the regime’s military and symbols of power will give Iranians the courage to rise up, united, against the government.

On the other side of the debate are those such as French President Emmanuel Macron. Haunted by failed regime change efforts in Iraq and Libya, Macron cast doubt on the possibility for success in pursuing regime change, saying it would ‘result in chaos.’

Some have also argued that Israel’s actions could create a ‘rally around the flag’ effect and spark nationalism among the Iranian people.

To be clear, while both sides have legitimate arguments, based off my experience in Serbia, I believe that Netanyahu and those on his side have a much stronger case.

The Iranian government is weaker than ever before after Israel destroyed virtually its entire chain of command and remains in total control of Iranian skies.

Likewise, unlike Libya and Iraq, Iran has a well-organized opposition, with a much more established sense of national unity than either Iraq or Libya ever had.

Taken together, there is strong evidence underpinning Israel’s belief that the Iranian regime could fall, especially given Israel’s extreme caution in only targeting symbols of the regime in order to avoid stoking nationalism.

Of course, there are risks in encouraging regime change, and it’s not at all guaranteed that the next regime is the one the West wants. It could very well result in a more extreme government led by remnants of the Revolutionary Guard hard-liners.

However, it is a mistake of similar magnitude to dismiss this chance out of hand. History has shown that when an oppressed people, angry at their government, find their confidence and are supported – even only by air power – the outcome need not be chaos, or the survival of the current government. 

It has, and could again, result in genuine regime change.

In both cases of Iran and Serbia there was widespread bombing of the country and indeed the civilians, with collateral damage on the civilian population. In the Serbian case all of the net results was that it strengthened the resolve of the Serbian people to rid themselves of an authoritarian dictator – Milosevic. And in the Iranian case, if history is any guide, it will weaken an already fragile regime and hopefully provide an outlet for the millions of Iranians who want a greater measure of freedom and peace in their lives.

This post appeared first on FOX NEWS

The White House Office of Science and Technology on Monday directed federal agencies to implement ‘gold standard science’ principles to depoliticize science and restore public trust, Fox News Digital has learned.

White House Office of Science and Technology Policy Director Michael Kratsios sent guidance to federal research agencies Monday morning, incorporating President Donald Trump’s executive order on ‘Restoring Gold Standard Science.’

Fox News Digital exclusively obtained the guidance sent to federal agencies.

President Trump, in May, signed an executive order to restore ‘Gold Standard Science’ as the cornerstone of federal scientific research.

‘Gold Standard Science’ is ‘reproducible, transparent and falsifiable,’ according to the order. 

It is also ‘subject to unbiased peer review; clear about errors and uncertainties; skeptical of assumptions; collaborative and interdisciplinary; accepting of negative results as positive outcomes; and free from conflicts of interest.’ 

The executive order reinstated ‘the scientific integrity policies’ of the first Trump administration and ‘ensures that science is no longer manipulated or misused to justify political ends.’ 

‘President Trump’s Gold Standard Science EO will transform the conduct and management of federal science, from research design to public communication, in order to strengthen scientific inquiry, rebuild public trust, and ensure the U.S. continues to be the global leader in rigorous, evidence-based science,’ Kratsios told Fox News Digital. ‘But federal agencies are only one part of our nation’s research ecosystem.’

Kratsios added, ‘American universities, scientific journals, industry and philanthropic leaders all have a crucial role in improving the overall quality of research, and we encourage this executive action to serve as a model for the entire scientific enterprise.’

Kratsios sent the memo to federal agencies Monday morning to provide guidance to federal departments and agencies on implementing gold standard science ‘in the conduct and management of all aspects of their scientific activities, from research design to public communication.’

‘By adopting these standards, agencies will strengthen scientific inquiry, rebuild public trust, and ensure the United States continues as the global leader in rigorous, evidence-based science,’ the memo states.

Kratsios said that ‘Gold Standard Science’ represents a ‘commitment to the highest standards of scientific integrity, defined by nine core tenets: reproducible; transparent; communicative of error and uncertainty; collaborative and interdisciplinary; skeptical of its findings and assumptions; structured for falsifiability of hypotheses; subject to unbiased peer review; accepting of negative results as positive outcomes; and without conflicts of interest.’

‘These tenets ensure that federally-supported research and research used in federal decision-making is transparent, rigorous, and impactful, enabling federal decisions to be informed by the most credible, reliable, and impartial scientific evidence available,’ Kratsios wrote in the guidance.

But ‘Gold Standard Science’ is not limited to science, Kratsios said, saying that it is critical for tackling complex challenges in energy innovation and national security as well.

‘In an age of rapid technological progress and heightened public scrutiny, federally-funded and federally-performed science, and its use in Federal decision-making, must be beyond reproach,’ he wrote.

As for conducting science ‘without conflicts of interest,’ Kratsios said it is imperative to ensure that ‘research is designed, executed, reviewed, and reported free from financial, personal, or institutional influences that could bias outcomes or undermine objectivity.’

‘This approach is important for generating trustworthy and credible new knowledge, as it upholds scientific integrity, fosters public confidence, and ensures that results reflect evidence rather than external agendas,’ the memo states. ‘Maintaining freedom from conflicts of interest requires researchers, reviewers, and managers to disclose all relevant affiliations, funding sources, and relationships relevant to the science conducted, adhering to stringent ethical standards supported by strong institutional oversight, transparent reporting systems, and independent expert review mechanisms.’

Kratsios said agencies must ‘prioritize conducting and managing scientific research free from conflicts of interest to advance unbiased science,’ and must ‘require disclosure of all relevant conflicts of interest by researchers, reviewers, and agency officials involved in the funding or performance of Federal research.’

‘These efforts include requiring comprehensive, standardized disclosure of all financial, personal, or institutional interests in research proposals, publications, peer and merit reviews, and data repositories, with clear and standardized protocols to identify, mitigate, and manage potential biases,’ the memo states. ‘Agencies should mandate the use of independent oversight approaches and enforce strict conflict-of-interest policies.’

Agencies have 60 days to outline ‘Gold Standard Science’ implementation plans, including plans for training and resources to ensure agency personnel understand the new policy, and the use of artificial intelligence-driven tools when practical.

After Trump signed the May executive order to restore gold standard science, a senior White House official said there had been a decline in ‘disruptive research’ and investments in biomedical research, along with ‘serious cases’ of fraud and misconduct and the inability to reproduce scientific methods for the purpose of restoring public trust.

The official also blamed policy responses to the COVID-19 pandemic and ‘woke DEI initiatives’ for endangering the public’s trust in government scientists.

Now-retired National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci was repeatedly denounced for flip-flopping and obfuscating during his time engineering the federal response to COVID-19, leading many, particularly on the right, to disregard and dismiss the legitimacy of federal health authorities outright.

That order cites the fact the Biden administration included political edits from teachers’ unions in school-reopening guidance, instead of leading with any scientific evidence.

Meanwhile, in an exclusive interview with Fox News Digital in April, Kratsios echoed Trump, saying the U.S. is in the ‘golden age’ and that this special moment in time is ‘underpinned by unbelievable science and technology.’

This post appeared first on FOX NEWS

All eyes will be on the United States Senate this week as we endeavor to pass the shared Republican agenda of American strength, security, and prosperity.

With the Republican reconciliation bill, we have the opportunity to deliver. It is one that doesn’t come around often, and our country stands to benefit greatly by Republicans seizing this moment and getting this bill across the finish line.

In large part, this bill is the culmination of President Trump’s campaign promises and the promises that Republican senators have made to our voters. Chief among them is keeping the American people safe through strong border security and a military strong enough to deter threats and conflicts around the world before they begin. 

President Trump has achieved remarkable success in ending the Biden border crisis and removing the criminal illegal aliens that President Biden let walk into our country – but it hasn’t been cheap, and the administration has told us that resources are running out. This bill will fully fund the border wall and President Trump’s successful policies for the entirety of his presidency, removing any possibility that Democrats will hold those resources hostage to try to increase other government spending.

This same principle also applies to defense funding. Recent conflicts around the world should make clear the need to have a modern and lethal fighting force that can keep the American people safe. This means smart, generational investments like President Trump’s Golden Dome for America to defend against advanced drones, missiles, and hypersonics, as well as prioritizing building new ships and unmanned vehicles.

A nation cannot prosper unless it is secure, and with our borders and defense capabilities bolstered, the next key pillar of this bill is creating prosperity in America.

We do this through permanently extending President Trump’s signature achievement in his first term, the 2017 Tax Cuts and Jobs Act (TCJA). The American people are facing a hefty $4 trillion tax increase at the end of the year, the largest in American history. If we fail to act, the average family of four making the median income in the United States will face a $1,700 tax increase. Not only does this bill prevent that tax increase, it makes the TCJA’s low rates permanent – meaning Democrats can never again try to use a pending expiration as leverage for advancing wasteful government spending. 

The bill locks in the TCJA’s small business provisions for all time, which is crucial for economic growth, and it also delivers on President Trump’s tax promises: No tax on tips, no tax on overtime, relief from Social Security taxes for seniors, and no tax on interest for vehicles made in the United States.

In the wake of the Biden administration and Democrats exploding the growth of government spending on programs like Medicaid, we will make commonsense reforms to return to a fiscally sustainable path. That means kicking illegal immigrants off of health programs and introducing work requirements that even 50% of Democrats agree with – all to ensure that programs like Medicaid are strengthened and able to deliver for the American citizens the programs were designed to benefit.

Senators have worked to develop this bill for well over a year now. Now it is time to act. Border resources are drying up. National security needs have never been more apparent. And with each passing day, we move closer to reaching both our nation’s debt limit and the largest-ever tax increase on the American people. 

 Senators return to Washington today and we will remain here until this bill is passed. We know that Democrats will fearmonger and misrepresent our efforts, and we expect them to drag this debate long into the night with unrelated issues. However, I am confident we will get this bill across the finish line.

 On the Fourth of July, Americans celebrate our freedoms and the work of previous generations to keep this great American experiment going. By placing this historic bill on the president’s desk by the Fourth of July, Republicans will be ensuring that future generations of Americans can live in safety and prosperity.

This post appeared first on FOX NEWS

The House Republican campaign committee is taking aim at congressional Democrats whom they charge are ‘pushing the largest tax hike in generations.’

As part of their aggressive messaging following the passage last month of the GOP’s landmark spending and tax cut bill – dubbed by President Donald Trump as his ‘big, beautiful bill’ – the National Republican Congressional Committee (NRCC) is launching ads on Monday against 25 House Democrats who likely face challenging re-elections in the 2026 midterms.

‘Democrats jacked up inflation, making life more expensive for all of us. We need help. Now, they’re pushing the largest tax hike in generations,’ charges the narrator in the digital ads, which were shared first with Fox News.

The narrator argues that the Democrats being targeted in the ads are ‘completely out of touch’ and urges viewers of the spots to tell the Democratic lawmakers to keep their ‘hands off your hard-earned money.’

The bill passed the House of Representatives last month by just one vote, along partisan lines. And Trump is pushing for a July 4 deadline for the measure to pass through Congress and land on his desk at the White House.

The GOP-crafted measure is stuffed full of Trump’s campaign trail promises and second-term priorities on tax cuts, immigration, defense, energy and the debt limit. It includes extending his signature 2017 tax cuts, which are set to sunset this year without action by Congress – and eliminating taxes on tips and overtime pay. 

But the measure, if signed into law, would likely even further fuel the nation’s massive budget deficit. The national debt currently sits at $36,215,397,741,847.76 as of June 18, according to FOX Business’ National Debt Tracker. 

The spots, backed by a modest ad buy, are targeting California Democrats Josh Harder (9th District), Adam Gray (13th), George Whitesides (27th), Derek Tran (45th) and Dave Min (47th), and Florida’s Darren Soto (9th) and Jared Moskowitz (23rd).

Also included are Reps. Frank Mrvan (1st) of Indiana, Jared Golden (2nd) of Maine, Kristen McDonald Rivet (8th) of Michigan, Don Davis (1st) of North Carolina, Nellie Pou (9th) of New Jersey, Gabe Vasquez (2nd) of New Mexico, Dina Titus (1st), and Susie Lee (3rd), and Steven Horsford (4th) of Nevada.

The NRCC ads also take aim at Reps. Tom Suozzi (3rd), Laura Gillen (4th) and Josh Riley (19th) of New York, Marcy Kaptur (9th) and Emilia Sykes (13th) of Ohio, Henry Cuellar (28th) and Vicente Gonzalez (34th) of Texas, Eugene Vindman (7th) of Virginia, and Marie Gluesenkamp Perez (3rd) of Washington state.

Democrats are working to win back control of the House in next year’s midterms, as the GOP defends its razor-thin majority in the chamber.

‘Out of touch House Democrats lit the fire of inflation and tried to slap Americans with the biggest tax hike in decades, all to fund their radical agenda. Voters won’t forget this betrayal – not now, not next November,’ NRCC spokesman Mike Marinella claimed.

A memo last month by the NRCC encouraged House Republicans to make the tax cuts a priority as they defended their votes on the tax and spending bill, and to take aim at Democrats for pushing to raise taxes on average Americans.

The memo highlighted that the bill ‘prevents tax increases to put more money in every American’s pocket.’

As Democrats attack the bill, they’re highlighting the GOP’s proposed restructuring of Medicaid – the nearly 60-year-old federal program that provides health coverage to roughly 71 million low-income Americans.

The changes to Medicaid, as well as cuts to food stamps, another one of the nation’s major safety net programs, were drafted in part as an offset to pay for extending Trump’s 2017 tax cuts. The measure includes a slew of new rules and regulations, including work requirements for many of those seeking Medicaid coverage.

Democrats have relentlessly attacked Republicans over what they say will be ‘huge cuts’ to Medicaid if the bill becomes law.

But the NRCC pushes back, saying in its memo that it is ‘protecting Medicaid by removing illegal immigrants and eliminating fraud.’

This post appeared first on FOX NEWS

U.S. stocks are on the cusp of a very impressive breakout to all-time highs, but are still missing one key ingredient. They need help in the form of a semiconductors ($DJUSSC) breakout of its own. When the DJUSSC reached its all-time high on June 20, 2024, one year ago, a nasty bearish engulfing candle printed on extremely heavy volume, I wrote an article, “The Semiconductors Have Topped; Look Elsewhere for Opportunities”. Simply put, it was buyers’ exhaustion”. I looked for a 20% drop in the index, providing this chart at the time:

There’s now been a lengthy period of sideways consolidation on the semiconductors as you can see from this updated chart as that 20% drop immediately occurred:

Semiconductor leadership has been held firmly in check by the overhead price resistance just below 22000. Until that resistance is cleared, the QQQ has a lid on it.

Let’s keep in mind that the QQQ, an ETF that tracks the NASDAQ 100 index, can be broken down into its top 2 industry groups, as follows:

  • Semiconductors ($DJUSSC): 21.65%
  • Software ($DJUSSW): 19.11%

More than 40% of the QQQ is comprised of semiconductors and software. Here’s what the longer-term, 5-year software chart looks like:

Software’s relative strength is powerful and we’ve recently seen an absolute price breakout – an awesome combo. On a 5-year weekly chart of semis, it’s quite apparent that when the semiconductors break out, they carry the NASDAQ 100 on their shoulders higher and we’re close to a breakout now:

We just saw a relative strength breakout on the DJUSSC, there’s only one thing missing – that absolute breakout and it’s coming fairly soon, in my opinion.

Market Outlook

A big part of what happens over the next 6-12 months will be highly dependent on the two industry groups above. There are over 100 industry groups and this may be oversimplifying stocks a bit, but make no mistake about it. Higher growth prospects and lower interest rates can result in flying PE ratios and these two groups are home to companies that can expand their businesses very rapidly.

Market Manipulation

I’ve discussed the role of market makers and their manipulation of the stock market many times over the past several years and there’s no doubt in my mind we were just exposed to another massive dose of it in the first half of 2025. At EarningsBeats.com, however, we’ve become experts at spotting it and pointing it out. I discussed the importance of being in cash back in late January and in February before the massive Wall Street ripoff started and I also wrote about the importance of getting back in early. Remember my article in the second week of April, “The Bottom is Here or Rapidly Approaching”? These are real-time articles, folks. You need to see the tops and bottoms before they occur. It does little good to talk about it now. We don’t get a “do over.”

Or do we?

What do I mean by that? Well, we’ll have plenty more chances to spot tops and bottoms in the future, but you need to learn from this year’s mistakes RIGHT NOW. Don’t let these big-money, Wall Street crooks do it to you again. We have one MASSIVE advantage on our side vs. these big Wall Street firms. We can enter and exit stocks in seconds. It takes them days and weeks.

If you want to be better-positioned to see this nonsense AHEAD OF TIME the next time it comes around, I’d suggest that you join me on Saturday, June 28th at 10:00am ET for a 100% free event, “Trading The Truth: How Market Manipulation Creates Opportunity”. CLICK HERE to register and learn more about the event! This is a MUST-ATTEND event and seating is limited. Be sure to save your seat and learn how to protect your hard-earned money for the rest of your financial future!

Happy trading!

Tom

This week, Microsoft (NASDAQ:MSFT) and OpenAI’s once tight alliance showed signs of strain, while Meta Platforms (NASDAQ:META) continued to source artificial intelligence (AI) talent from rival companies.

Meanwhile, SoftBank’s (TSE:9434) CEO is considering a new chip and robotics venture in Arizona, and Google (NASDAQ:GOOGL) is looking to bring AI solutions to American cities.

Read on to dive deeper into this week’s top tech stories.

1. OpenAI and Microsoft partnership faces tension

Microsoft and OpenAI’s once-close partnership is reportedly entering a tense period of renegotiation as OpenAI restructures into a public-benefit company and seeks more autonomy.

According to sources for The Information, recent negotiations have centered on reducing Microsoft’s long-term revenue share in exchange for a 33 percent stake in the newly formed entity. Additionally, OpenAI would like to limit Microsoft’s access to future models such as Windsurf, which OpenAI acquired in May.

The company has competitive concerns with Microsoft’s GitHub Copilot, according to the people.

Tensions have risen enough that some OpenAI executives are even weighing antitrust action against Microsoft, according to sources for the Wall Street Journal. In a joint statement, both companies maintained they want to continue working together; however, the Financial Times reported on Wednesday (June 18) that if they can’t reach an agreement, Microsoft is prepared to walk away and rely on its existing contract with the startup, which extends until 2030.

2. SoftBank floats trillion-dollar robotics hub in Arizona

SoftBank is reportedly interested in a trillion-dollar infrastructure project and has reached out to Taiwan Semiconductor Manufacturing Company (NYSE:TSM) as a potential collaborative partner.

Sources for Bloomberg revealed on Friday (June 20) that SoftBank founder Masayoshi Son has approached the Taiwanese chipmaker to play a “prominent role” in a manufacturing park in Arizona codenamed “Project Crystal Land,” which may serve as a major production facility for AI-powered industrial robots.

The sources said SoftBank has also approached Samsung Electronics (KRX:005930) and other companies with the idea. SoftBank officials have reportedly engaged in discussions with federal and state government officials, including US Secretary of Commerce Howard Lutnick, to explore potential tax incentives for companies onshoring high-tech manufacturing.

In other semiconductor news, Texas Instruments (NASDAQ:TXN) said on Wednesday that it will spend more than US$60 billion building seven new semiconductor facilities across the US. Meanwhile, Amazon (NASDAQ:AMZN) announced over the weekend that it will invest AU$20 billion to expand data center infrastructure in Australia by 2029.

3. Intel reportedly planning sizeable layoffs

Intel (NASDAQ:INTC) is reportedly set to implement substantial layoffs, impacting 15 to 20 percent of its factory workforce, according to an internal memo distributed on Saturday (June 14) and obtained by the Oregonian.

This move comes amidst continuing efforts to overhaul a company lagging behind its peers.

For some time, Intel’s offerings have struggled to compete effectively against those of key rivals in the highly competitive market of AI products and chip divisions. In a concerted effort to address this gap and reinvigorate its innovation pipeline, Intel has also been actively recruiting top-tier engineering talent.

On Wednesday, Intel expanded its sales and engineering leadership team to include experienced professionals from Cadence Design Systems (NASDAQ:CDNS), Apple (NASDAQ:AAPL) and Google.

These strategic hires are intended to inject fresh perspectives and expertise into crucial engineering departments, directly contributing to the company’s ambitious plans to develop more competitive and advanced AI solutions.

4. Google partners with Conference of Mayors for city AI strategies

On Friday, Google announced that it has partnered with the US Conference of Mayors to help speed the adoption of city-wide AI strategies. With the announcement, the company released a playbook titled A Roadmap for America’s Mayor that provides a framework for city leaders to develop and host an “AI Adoption Workshop,’ which would be structured to help cities identify and explore how AI can support specific needs, drawing on experiences from other communities.

The roadmap suggests cities conduct a general survey to tailor workshop content by gathering information on current AI usage, as well as concerns and ideas for AI applications. Various approaches are suggested for drafting the strategy document, including a dedicated working group, an appointed lead drafter, a hybrid model or engaging external expertise, with a recommended deadline of four to six weeks post-workshop for the first draft.

5. Meta hires top AI talent

Sources for the Information indicated on Wednesday that Meta CEO Mark Zuckerberg is bringing Daniel Gross, CEO of Ilya Sutskever’s startup Safe Superintelligence, and former GitHub CEO Nat Friedman onboard.

According to the report, Gross and Friedman will both join Meta, with Gross leaving his startup to focus on AI products at Meta and Friedman taking on a broader role. Both are expected to work directly with Zuckerberg and Scale AI CEO Alexandr Wang, who signed a US$14.3 billion deal to join Meta last week.

In exchange, Meta will get a stake in NFDG, the venture capital firm co-owned by Gross and Friedman that has backed companies such as Coinbase Global (NASDAQ:COIN), Figma, CoreWeave (NASDAQ:CRWV), Perplexity and Character.ai.

On the most recent episode of his brother’s “Uncapped” podcast, OpenAI CEO Sam Altman said that Meta has also offered signing bonuses as high as US$100 million and large compensation packages to OpenAI employees.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Gold was on the decline this week, closing just below US$3,370 per ounce, after tensions in the Middle East pushed it past the US$3,430 level toward the end of last week.

All eyes were on the US Federal Reserve, which in a widely expected move left interest rates unchanged on Wednesday (June 18) following its two day meeting. The central bank cut rates in December 2024, but has kept them steady for its last four gatherings.

US President Donald Trump wasn’t pleased, calling Powell ‘too late’ in a Thursday (June 19) post on Truth Social. While speculation that Trump will fire Powell has died down, the president did recently say he intends to announce his next pick for the Fed leader position ‘very soon.’

Of course, Fed meetings are never just about rate decisions — experts often look to Powell’s post-meeting commentary to read between the lines of what’s said (and not said).

Tariffs were definitely in focus this time around, with Powell emphasizing that it’s still soon to tell how much of an impact they will have and how the Fed should react.

‘We have to learn more about tariffs. I don’t know what the right way for us to react will be. I think it’s hard to know with any confidence how we should react until we see the size of the effects’ — Jerome Powell, US Federal Reserve

Chris Temple of the National Investor, who offered another perspective on Powell’s comments.

He noted that while Powell didn’t say the Fed is going to abandon its 2 percent inflation target, it may be leaning in that direction. This is what he said:

The consensus still — although it was extremely close — is barely still for two 25 basis point rate cuts in the balance of 2025. Whether we get them or not, who knows, (but) that’s the current snapshot, which may well change. But that’s against a backdrop of admitting for the second SEP, summary of economic projections … in a row that inflation is going to continue to move back higher — that we’ve seen the best numbers for inflation — at the same time that GDP slows a bit.

So okay, you just told us that your favored inflation number, which is a lot of smoke and mirrors to begin with, is going to go back up to north of 3 percent, which is what they said yesterday. And yet you still — the consensus is you’re going to lower interest rates twice in 2025? So he did everything but come right out and admit that the 2 percent inflation target isn’t going to be reached.

Stay tuned to our YouTube channel for the full interview with Temple.

Bullet briefing — Silver hits 13 year high, SPUT raising US$200 million

Is silver’s price rise real?

Gold has stolen the precious metals spotlight in 2025, but this month silver is shining.

The white metal has been on the rise since the beginning of June, and this week it broke the US$37 per ounce mark for the first time in 13 years.

While silver is known to lag behind gold before playing catch up, it’s also known for its volatility. Its move has created excitement, but market participants are also wary of a correction.

When asked what factors are driving silver, Peter Krauth of Silver Stock Investor he said he sees a ‘perfect storm’ emerging. Here’s how he explained it:

You’ve got the macroeconomic picture that is I think certainly bullish for silver, like it is for gold and a lot of the other commodities. But I think at the same time you’ve got the market kind of coming to terms with the fact that silver is in a deficit, (and) it’s unlikely to be able to rectify that deficit for several years — in fact, the Silver Institute thinks we’re going to see record deficits at some point over the next five years.

And silver supply is unable to grow. We saw a peak 10 years ago in mined silver, and overall silver supply is essentially flat.

So flat supply, growing demand — demand that’s nearly 20 percent above supply — and our ability to meet those deficits is shrinking because we’re tapping into these aboveground stockpiles that have shrunk by about 800 million ounces in the last four years, which is the equivalent of an entire year’s mine supply. So it’s the perfect storm, it’s really all coming together. And I think that the market’s realizing that.

But does that necessarily mean silver is ready for a big breakout? Krauth has a target of US$40 by the end of 2025, but said silver could potentially go 10 percent above that.

For his part, Jeffrey Christian of CPM Group attributes the silver price boost to increased demand from investors, especially when it comes to exchange-traded funds and wholesale products.

He’s projecting a bumpier path forward for the metal:

You also have — the last time I looked it was like 490 million ounces of open interest in the July Comex futures contract. And that’s two weeks from first delivery. So most of the people (who) have those shorts – those are hedges of their physical inventories. They keep those hedges in place, but they roll them forward. So they’ll be buying back their Julys and selling September futures to keep that hedge in place with the next active futures contract. That buying back of the Julys could push silver prices higher.

So if you really want to talk granular prices, we wouldn’t be surprised to see the price of silver fall to US$33, US$34 an ounce, and go up to US$40 an ounce and then back to US$33 an ounce over the next four weeks.

Click the links above to watch the interviews with Krauth and Christian.

SPUT raising US$200 million

The uranium spot price made moves this week after the Sprott Physical Uranium Trust (TSX:U.U,OTCQX:SRUUF) announced a US$100 million bought-deal financing on Monday (June 16).

It was bumped up to US$200 million the same day due to strong demand.

Spot uranium has been in a consolidation phase since hitting triple-digit levels in early 2024, creating frustration among those who are waiting for the industry’s strong long-term fundamentals to be better expressed. This week’s move past US$75 per pound has helped reinvigorate investors.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Co-sponsors of the War Powers Resolution, Reps. Ro Khanna, D-Calif, and Thomas Massie, R-Ky., were quick to criticize President Donald Trump for greenlighting attacks on three nuclear sites in Iran Saturday night. 

‘This is not constitutional,’ Massie said, responding to Trump’s Truth Social post announcing the strikes on Fordow, Natanz and Isfahan in Iran. 

The bipartisan War Powers Resolution was introduced in the House of Representatives this week as strikes between Israel and Iran raged on, and the world stood by to see if Trump would strike. 

Sources familiar told Fox News Digital that both House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., were briefed on the strikes ahead of time. 

‘Trump struck Iran without any authorization of Congress. We need to immediately return to DC and vote on @RepThomasMassie and my War Powers Resolution to prevent America from being dragged into another endless Middle East war,’ Khanna said. 

This week, lawmakers sounded off on the unconstitutionality of Trump striking Iran without congressional approval. Congress has the sole power to declare war under Article I of the Constitution

The War Powers Resolution seeks to ‘remove United States Armed Forces from unauthorized hostilities in the Islamic State of Iran’ and directs Trump to ‘terminate’ the deployment of American troops against Iran without an ‘authorized declaration of war or specific authorization for use of military forces against Iran.’

As Trump announced his strikes against Iran – without congressional approval – Khanna said representatives should return to Capitol Hill to prevent further escalation.

And in the upper chamber, Sen. Tim Kaine, D-Va., introduced his own war powers resolution ahead of the bipartisan duo in the House. While the resolution had been gaining steam with his colleagues, momentum could be stalled due to the strikes. His resolution is privileged, meaning that lawmakers will have to consider it. The earliest it could be voted on is Friday.

Kaine argued in a statement that ‘the American public is overwhelmingly opposed to the U.S. waging war on Iran.’

‘And the Israeli Foreign Minister admitted yesterday that Israeli bombing had set the Iranian nuclear program back ‘at least 2 or 3 years,” he said. ‘So, what made Trump recklessly decide to rush and bomb today? Horrible judgment. I will push for all senators to vote on whether they are for this third idiotic Middle East war.’

This week on Capitol Hill, Massie, the conservative fiscal hawk who refused to sign onto Trump’s ‘big, beautiful bill,’ built an unlikely bipartisan coalition of lawmakers resisting the U.S.’ involvement in the Middle East conflict. 

‘This is not our war. But if it were, Congress must decide such matters according to our Constitution,’ Massie said. 

Massie, whom Trump threatened to primary during the House GOP megabill negotiations, invited ‘all members of Congress to cosponsor this resolution.’ By Tuesday night, the bipartisan bill had picked up 27 cosponsors, including progressive ‘Squad’ members Reps. Alexandria Ocasio-Cortez and Ilhan Omar.

Across the political aisle, Rep. Marjorie Taylor Greene, R-Ga., signaled her support, writing that Americans want an affordable cost of living, safe communities and quality education ‘not going into another foreign war.’

‘This is not our fight,’ Greene doubled down on Saturday night, before Trump’s Truth Social announcement. 

The bill’s original co-sponsors also include progressive Democrat Reps.Pramila Jayapal, Summer Lee, Ayanna Pressley and Rashida Tlaib, who called it unconstitutional for ‘Trump to go to war without a vote in Congress.’

White House Press Secretary Karoline Leavitt said Thursday that Trump would make his decision about whether to bomb Iran within two weeks. 

‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter,’ Trump said Saturday night. 

Israel launched preemptive strikes on Iran’s nuclear facilities and military leaders last week, which the Islamic Republic considered a ‘declaration of war.’ Strikes between Israel and Iran have raged on since, as Trump said he was considering whether to sign off on U.S. strikes against Iran. 

The Jewish State targeted Iran’s nuclear capabilities after months of failed negotiations in the region and heightened concern over Iran developing nuclear weapons. 

But Ali Bahreini, Iran’s ambassador to Geneva, said Iran ‘will continue to produce the enriched uranium as far as we need for peaceful purposes,’ as Israel, and now the U.S., have issued strikes against Iran’s nuclear capabilities. 

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