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More Americans than ever oppose the TikTok ban, as it’s pushed back once again

On Friday, President Trump granted a 75-day extension for TikTok’s divest-or-ban deadline, giving parent company ByteDance until mid-June to find a new owner in the US — the second delay since the Supreme Court unanimously upheld the law in January, as tariffs complicate the picture.

In a Truth Social post announcing the extension, the president said he hoped to continue negotiating the deal with China, acknowledging the nation was “not very happy” with his new trade policies. The two countries had apparently been close to a deal that would have spun off the app’s American operations into a new company, majority-owned by US investors, but it reportedly fell through after Chinese officials objected to the new 34% tariff hike.

Public opposition to the TikTok ban is rising
Sherwood News

Meanwhile, the public opposition to banning the app used by 170 million Americans has only been growing in the years since it was first proposed. Per a survey released by Pew Research Center in March, just 34% of US adults now support the ban, down from 50% in March 2023. Over the same period, more Americans have grown to oppose the breakup, climbing to 32% in the latest survey.

In a Truth Social post announcing the extension, the president said he hoped to continue negotiating the deal with China, acknowledging the nation was “not very happy” with his new trade policies. The two countries had apparently been close to a deal that would have spun off the app’s American operations into a new company, majority-owned by US investors, but it reportedly fell through after Chinese officials objected to the new 34% tariff hike.

Public opposition to the TikTok ban is rising
Sherwood News

Meanwhile, the public opposition to banning the app used by 170 million Americans has only been growing in the years since it was first proposed. Per a survey released by Pew Research Center in March, just 34% of US adults now support the ban, down from 50% in March 2023. Over the same period, more Americans have grown to oppose the breakup, climbing to 32% in the latest survey.

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FT: Meta considering “tens of billions” in new capital to fund AI

Just days after Google announced a monster $85 billion upsized equity raise, the extremely profitable Meta is seeking to sell “tens of billions of dollars” in stock, according to a new report from the Financial Times.

Meta is planning on spending between $125 billion and $145 billion on AI capital expenditure this year alone.

Shares dropped more than 5% on the news.

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FT: Anthropic staff helping the NSA use Mythos for offensive cyberattacks

Anthropic’s Mythos AI model was deemed too dangerous to release to the public, with the company citing its ability to orchestrate novel cyberattacks.

And that’s just what the National Security Agency is doing, with the help of Anthropic staff embedded at the agency, according to a report from the Financial Times.

Only a small number of companies and US allies have been given access to the advanced model, which means America’s adversaries have not had the chance to shore up their defenses against the AI model’s new offensive capabilities.

The arrangement is especially unusual as the Pentagon has deemed Anthropic’s AI a national security supply chain risk — effectively blacklisting it for defense work — in response to the company’s refusal to allow its technology to be used for any legal application, which could include autonomous killing or mass surveillance. Anthropic is currently suing the US government to fight the determination.

Only a small number of companies and US allies have been given access to the advanced model, which means America’s adversaries have not had the chance to shore up their defenses against the AI model’s new offensive capabilities.

The arrangement is especially unusual as the Pentagon has deemed Anthropic’s AI a national security supply chain risk — effectively blacklisting it for defense work — in response to the company’s refusal to allow its technology to be used for any legal application, which could include autonomous killing or mass surveillance. Anthropic is currently suing the US government to fight the determination.

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Longtime Tesla bear JPMorgan upgraded Tesla and raised its price target to $475 from $145

For more than a decade, JPMorgan was Wall Streets most stubborn Tesla skeptic, anchored by auto analyst Ryan Brinkman’s strict focus on traditional car fundamentals and near-term delivery numbers.

But JPM recently handed coverage of the stock to a new analyst, Rajat Gupta, who is throwing that playbook out the window. In a note Friday, the firm upgraded Tesla to neutral from underweight and raised its price target 228% to $475 from $145. (The analyst consensus on FactSet is $403.) Instead of focusing on the company’s struggling vehicle business, the new analyst is orienting himself more toward Tesla’s idea of the future, now modeling Tesla’s physical AI and robotaxi fleets all the way out to the year 2040.

Here are the main reasons for the capitulation:

  • Looking past the car lot: Gupta argues that Tesla is at the forefront of physical AI, entering uncharted TAMs” and therefore deserves the benefit of the doubt to be valued on LT earnings potential rather than near-term speed bumps.

  • Unmatched vertical integration: Teslas control over everything from battery cells to custom silicon gives it a massive moat. JPM notes this starting point advantage is unmatched at an industrial level scale” and “still somewhat under-appreciated and misunderstood.

  • The AWS flywheel effect: Deploying Optimus robots inside its own factories should not only lower COGS for the base automotive business, but more importantly, help validate the product at an industrial scale.” Gupta called it “a classic flywheel effect, somewhat analogous to AWS and Kiva at AMZN.

For Tesla bulls who have argued for years that this is an AI company and not a carmaker, JPM’s sudden $3.9 trillion valuation model is the ultimate validation.

skynet terminator

Anthropic ponders self-improving AI

Anthropic says Claude already writes 80% of its code. A new post asks what happens when the models can improve themselves — and whether anyone could stop them.

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