Author: Henry Kanapi

The head of Microsoft’s AI efforts believes artificial intelligence will not just reshape work, but force a fundamental rethink of how wealth and value are distributed across society via a universal basic income. In a Bloomberg Television interview, Mustafa Suleyman, co-founder of DeepMind and now head of Microsoft’s AI unit, lays out a long-term vision in which machines eventually outperform humans at most forms of labor, triggering structural changes far beyond the job market. Suleyman says the shift is unavoidable and could arrive faster than many expect, raising hard questions about purpose, displacement and social stability as machines take over…

Jeffrey Gundlach is flagging early warning signs beneath the surface of the AI trade, arguing that credit markets are starting to behave in ways that suggest rising stress among high-flying technology names. In a new video update, the billionaire “Bond King” and DoubleLine Capital founder says he’s seeing signs of unusual dislocations in corporate credit spreads tied to AI-exposed companies. Gundlach highlights Oracle as a key example, noting that its credit performance has sharply diverged from the broader credit default swap index that it typically tracks. “But suddenly Oracle has gotten very, very disconnected from the CDX market broadly. This…

HSBC is urging investors to look beyond today’s AI headlines, saying that the biggest winners of the artificial intelligence boom may not even exist yet. In a new CNBC interview, Joe Rasco, HSBC’s Chief Investment Officer for the Americas, pushes back against the idea that the AI buildout is about convenience tools or short-term hype. Instead, he says the current moment is the early infrastructure phase of a multi-year technological revolution that will ultimately reshape productivity, jobs and corporate profits. “If we’re going to spend trillions building data centers so I can write term papers more quickly, we just wasted…

Scammers impersonating Hollywood star Kevin Costner almost siphoned tens of thousands of dollars from a woman in an AI deepfake scheme. National Australia Bank (NAB) says a woman, identified only as Sue, believed she had formed a legitimate online relationship with the Oscar-winning actor and was preparing to help him move money into Australia. According to NAB, Sue visited a bank’s local branch to open a new account after being told she would receive funds from Costner for a business venture. Banker Angus Murdoch says alarm bells rang immediately when Sue explained the source of the money. “She said she…

President Trump is moving to crush what the White House calls a fast-growing patchwork of state AI rules, seeing it as a direct threat to America’s ability to stay ahead in the AI race. In a new executive order announcement, the White House says the administration will use legal pressure and federal funding leverage to push states away from AI laws it views as inconsistent with national policy priorities. The order directs the Attorney General to establish an “AI Litigation Task Force” aimed at challenging state AI laws the administration describes as anti-innovation, unconstitutional, preempted or otherwise unlawful. It also…

BlackRock CIO Rick Rieder warns that more lower-skilled jobs will disappear in the coming years, and it’s not because of widespread AI deployment. In a new interview on The Meb Faber Show, Rieder lays out a sobering view of what he sees unfolding over the next two to three years as companies fight to protect margins in a slowing growth environment. The BlackRock executive predicts incoming job losses fueled by Corporate America’s appetite to drive productivity gains across everyday business operations. “The lower-skilled jobs are going away. And I think it’s a travesty, and it’s not anybody’s fault. I think…

A Ghanaian socialite is accused of orchestrating an AI romance scam that siphoned millions of dollars from elderly Americans. The U.S. Attorney’s Office for the Northern District of Ohio says Frederick Kumi, also known as Abu Trica, was arrested and charged with conspiracy to commit wire fraud and conspiracy to commit money laundering in connection with an international romance scam fueled by AI. Prosecutors allege that Kumi, who has more than 100,000 Instagram followers, was part of a criminal network that used AI software to generate false identities and sustain emotionally intimate relationships with victims on social media and dating…

Banking giant JPMorgan believes that artificial intelligence is more than just a growth theme, noting it may be the key force holding the global economy together as structural pressures build. In a new episode of the bank’s Alternative Realities podcast, David Lebovitz, global strategist on JPMorgan Asset Management’s Multi-Asset Solutions team, names three powerful themes that will collide in the next 10 to 15 years. “When we look at what’s happening in the world today, we’re seeing economic nationalism continue to rise. So the idea is that governments are focused more on their own backyard than they are on their…

Fundstrat’s Tom Lee warns that the stock market could face a sharp stress test in 2026, before powerful policy backstops set the stage for a strong rebound. In a new CNBC interview, the Fundstrat co-founder says markets are coming off an unusually strong run, with the S&P 500 likely finishing this year around 7,000 after three straight years of roughly 20% gains. But Lee notes that the pace is unlikely to continue uninterrupted. “We’re three years at 20% gains, so I think there’s a deceleration of what the market can do next year.” Lee points to a cluster of political…

Howard Marks is raising a different kind of alarm on artificial intelligence, saying the biggest danger is not mass unemployment but something harder to measure and far more destabilizing to society. In a fresh interview with Bloomberg, the Oaktree Capital co-founder shifts from markets to society, believing that AI could change the nature of work in ways that reach deeper than economics. Marks says his concern stems from the impact of the Internet revolution on society about 25 years ago, when the tech cycle displaced white-collar workers and created new blue-collar roles. He notes that while headline job counts remained…