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Wall Street CEOs reportedly “summoned” to DC by Scott Bessent and Jay Powell to discuss AI cyber risks after Anthropic’s warning

Top officials are worried about left-tail cybersecurity risks from new AI tools, and are making sure the most important American bankers are taking the threat seriously.

The most powerful Americans in finance held an “urgent meeting” this week to discuss cybersecurity risks linked to new, powerful AI models — in particular, Anthropic’s Mythos.

Bloomberg reports that US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell “summoned” the leaders of the biggest US banks — all of which are considered systemically important — to DC on Tuesday “to make sure banks are aware of possible future risks” and ensure that they “are taking precautions to defend their systems,” citing people familiar with the matter.

On Wednesday, Anthropic announced that it was releasing a version of its Mythos model to a select group of companies in an initiative called “Project Glasswing.” The hope is that these firms will get a head start on shoring up their defenses before malicious actors have the chance to strike with these new tools.

“AI models have reached a level of coding capability where they can surpass all but the most skilled humans at finding and exploiting software vulnerabilities,” warned Anthropic, which said it’s “found thousands of high-severity vulnerabilities, including some in every major operating system and web browser.”

Separately, OpenAI is also reportedly concerned that an upcoming cybersecurity tool of its own is too dangerous to be released publicly, and has similarly allowed a small group of its partners to test it out.

The CEOs of Citi, Morgan Stanley, Bank of America, Wells Fargo, and Goldman Sachs were said to be in attendance for this meeting at the Treasury Department. Jamie Dimon, CEO of JPMorgan (whose bank is a part of Project Glasswing), couldn’t make it.

Throughout 2026, we’ve discussed how the AI theme has become much more zero-sum in the stock market. For instance, AI demand has been helping memory and optics stocks, but fears of disruption have pushed software stocks down to multiyear lows.

The high degree of attention being paid to AI-fueled cybersecurity risks by top officials, with the same being demanded from their private sector counterparts, suggests that a similar lens may be appropriate to judge AI’s impact on the economy. That is, the potential for productivity benefits may need to be balanced against left-tail risks, particularly as agents are scaled and empowered to execute increasing workloads across companies.

That little sigh of relief you hear over in the corner is the private credit industry, grateful that these cybersecurity concerns mean there will be one less question asked about their own travails during banks’ quarterly conference calls when earnings season kicks off next week.

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Ross Stores surges as Q1 results beat expectations, full-year guidance raised

Ross shares are rising after the company delivered strong Q1 results, with sales topping Wall Street’s projections.

The stock soared 6.3% just after the open.

Key numbers:

  • Earnings per share of $2.02 vs. $1.47 year over year (estimate: $1.72).

  • Sales of $6.01 billion, up 21% year over year (estimate: $5.61 billion).

  • Comparable sales growth of 17% (estimate: 8.58%).

CEO Jim Conroy attributed the results to better traffic in stores. “Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in‑store experience are resonating with shoppers.”

The company also noted that transaction volume grew across all key demographics, including “income levels, ethnicities, and age groups, including younger customers.” Sales were also likely buoyed by standard seasonal tailwinds, including consumer spending from tax refunds.

Backed by the strong quarter, the company lifted its full-year targets. Ross now projects same-store sales growth of 6% to 7%, up from the prior forecast of 3% to 4%, topping Wall Street’s estimate of 4.64%. It boosted its annual EPS guidance to a range of $7.50 to $7.74, versus the prior outlook of $7.02 to $7.36.

Ross Stores has been one of the retail sector’s standout performers this year, rising around 20% year to date as of Thursday’s close.

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Imax surges on report it’s approached entertainment companies for a sale

Imax is on pace for its best trading day since 2021 following a Wall Street Journal report that it’s exploring a sale. Shares are up more than 15% in premarket trading on Friday.

The premium screen company has reportedly approached entertainment companies for a deal, though talks are early and may not come to fruition. Imax has been boosted in recent years by its higher ticket prices — a K-shaped trend in movie theaters — and last year accounted for more than 5% of domestic box office sales.

Theatrical release windows have become a large debate in Hollywood this year, amid the bidding war between Paramount and Netflix for Warner Bros. Discovery. It’s unclear if an entertainment buyer would favor its own films for Imax over a rival’s.

In the first quarter, Imax booked $81.4 million in sales, beating Wall Street expectations but down about 6.5% from last year, when China’s “Ne Zha 2” smashed records.

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AMD rises as CEO forecasts massive 5-year CPU demand growth

AMD’s shares are rising in premarket trading after CEO Lisa Su delivered an optimistic demand forecast, predicting that the global market for CPUs will grow by more than 35% annually over the next five years, according to Nikkei Asia.

About six months ago or 12 months ago, nobody was talking about CPU shortages,” Su said at an event in Taipei. But as [AI] inferencing and agentic AI have really started to ramp up, the CPU market [will] continue to grow very much. Over the next five years, we see the CPU market growing at over 35% each year, and this is an area where were seeing very strong demand.

The comments come as the computing demands of AI agents (in particular, the so-called orchestration of tasks) increase the need for CPUs in running models.

AMD also said this week it plans to invest more than $10 billion into Taiwan’s AI ecosystem alongside supply chain partners as it ramps production capacity for next-generation AI infrastructure. This investment will support the manufacturing ramp of AMDs sixth-generation EPYC CPUs, code-named Venice.

Su added that CPU supply is now “tight” as inference demand accelerates, while bottlenecks are emerging across memory, power availability, and advanced packaging.

AMD shares have climbed sharply this year amid broader enthusiasm around AI infrastructure spending. The stock has risen more than 100% year to date. During AMDs last earnings call, management told investors it now sees the server CPU total addressable market reaching $120 billion or more by 2030, according to Yahoo Finance.

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