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United Bancorp director John Hoopingarner buys $13,899 in stock
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LARRY KUDLOW: For Both Reagan and Trump on the Economy and a Nuclear Axis of Evil, Trust but Always Verify
So here we are again at the Reagan Library, Simi Valley, California. It is a fabulous, fabulous place.
Meanwhile, my first job in politics was the deputy budget director for the Gipper. And to be honest, what I learned during that time in his first term, I’m not sure my political and economic views have really changed much over the past 46 years.
President Reagan believed in peace through strength. Trump believes in peace through strength. Reagan believed in low taxes to promote growth. Trump believes in low taxes to promote growth.
They were both staunch advocates of a very light government regulatory touch on the economy, and both men were against unfair trading practices that damaged working Americans.
Here’s Reagan on peace through strength, in October 1980: “Peace is made by the fact of strength, economic, military and strategic. We must build peace upon strength. There is no other way.”
Wait a minute. There’s even more. Here’s Reagan on trust but verify, in 1987, in remarks with Mikhail Gorbachev:
“We have listened to the wisdom in an old Russian maxim. And I’m sure you’re familiar with it, Mr. General Secretary, though my pronunciation may give you difficulty. The maxim is: Dovorey no provorey — trust, but verify.”
Gorbachev replied: “You repeat that at every meeting,” which met with laughter. “I like it,” Reagan replied.
I like it, too. I like it very much. Now, four or five decades later, I also worked for President Trump in his first term as one of his economic advisers. So feature what Mr. Trump said on Iran yesterday, on this whole trust but verify saga.
A reporter asked: “Mr. President, how would you characterize the current state of the talks with Iran? I guess if it were a football field, what yard line would you be on?”
Mr. Trump replied: “Well, I think we’re doing very well. They are starting to give us the things that they have to give us, and if they do, that’s great. And if they won’t, then the man on my left is going to finish him off.”
That being War Secretary Pete Hegseth on his left, I’d say that’s a pretty good version of, trust, but verify. Anyway, the ceasefire news today just seems to me to be an extension of Trumpian diplomacy, as Reagan also believed in diplomacy.
Yet as Reagan would never give in to Gorbachev on producing space based defense in those days called Star Wars, Mr. Trump will never give in to the radical Iranian Islamic regime regarding an end to nuclear weaponry of all kinds and an end to state sponsored terrorism and justice.
Reagan would never make a bad deal. So also, I believe Mr. Trump will never make a bad deal. So on taxes and economic growth and an end to nuclear terrorism, the two men nearly 40 years apart, faced similar challenges, and both emphasized the need to trust but verify.
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(VIDEO) Former CIA Official Charged with Stealing $40 Million in Gold Bars from Agency
WASHINGTON — A former senior CIA official has been arrested and charged with stealing more than $40 million in gold bars from the spy agency and concealing them in his Virginia home, federal prosecutors said Thursday in a case that has raised serious questions about internal controls and background vetting at one of the nation’s most sensitive institutions.
David J. Rush, described in court documents as a former Senior Executive Service employee with top-secret clearance, faces charges of theft of public funds. Authorities say he also falsified his educational and military background, including claiming degrees he never earned and receiving nearly $77,000 in improper military leave pay after his honorable discharge from the Navy in 2015.
The FBI executed a search warrant at Rush’s residence on May 18 and seized approximately 303 gold bars, each weighing about one kilogram, along with roughly $2 million in cash and 35 luxury watches, many of them Rolex brand. The estimated value of the gold alone exceeds $40 million based on current market prices.
Rush allegedly made multiple requests for gold and foreign currency between November and March, claiming the funds were needed for “work-related expenses,” according to an FBI affidavit filed in U.S. District Court for the Eastern District of Virginia. A subsequent search of his government office found only a portion of the requested currency, prompting the agency to realize large amounts were missing.
CIA and FBI officials issued a joint statement confirming the arrest on May 19 following an internal CIA investigation. “After a CIA internal investigation identified potential violations of the law, CIA Director John Ratcliffe referred the information to the FBI for a law enforcement investigation,” the statement said. “The FBI is working closely with our partners at the CIA and the Department of Justice as we continue to investigate this matter fully.”
Rush’s attorney, Jessica N. Carmichael, declined to comment on the allegations. Rush waived his right to a preliminary hearing and is being held by the U.S. Marshals Service. A detention hearing is scheduled for June 5.
Questions Over Background Checks and Oversight
The case has sparked concern about how Rush was able to rise to a senior position within the CIA while allegedly falsifying key parts of his background. According to the affidavit, Rush claimed a bachelor’s degree from Clemson University and a master’s from Rensselaer Polytechnic Institute. FBI investigators found no record of him attending either institution. He also falsely claimed to be a U.S. Navy pilot.
The incident has prompted internal reviews at the agency regarding vetting procedures for employees handling sensitive assets. A former U.S. official familiar with the matter said Rush worked in the CIA’s Directorate of Science and Technology, which develops advanced tools for espionage operations. That directorate often deals with classified budgets and equipment that require strict oversight.
The scale of the alleged theft — involving hundreds of kilograms of physical gold — has surprised even seasoned intelligence veterans. Gold bars are sometimes used in covert operations for their portability and universal value, but strict accounting protocols are supposed to prevent misuse.
Broader Implications for Intelligence Community
The arrest comes at a sensitive time for the U.S. intelligence community, which has faced increased scrutiny over security and financial controls. The case highlights vulnerabilities in how agencies manage high-value assets, particularly those intended for classified operations where transparency is limited for national security reasons.
Experts say the episode could lead to tighter oversight of discretionary funds and physical assets across the intelligence community. Congressional intelligence committees are expected to seek briefings on the matter in coming weeks.
The CIA has not commented on specific internal controls related to Rush but emphasized in its joint statement with the FBI that it takes such allegations seriously and acts swiftly when potential violations are identified.
Rush’s Career and Alleged Deception
Rush joined the CIA around 2009 and rose through the ranks to a senior executive position. The affidavit alleges he continued claiming active military reserve status long after his 2015 discharge, allowing him to receive improper compensation.
The combination of alleged financial theft and background falsification paints a picture of long-term deception. Prosecutors say Rush’s actions compromised not only agency resources but also the trust essential to intelligence work.
The case is being prosecuted by the U.S. Attorney’s Office for the Eastern District of Virginia, a jurisdiction that frequently handles national security matters due to its proximity to Washington and the Pentagon.
Public and Expert Reaction
News of the arrest has drawn widespread attention, with some commentators expressing shock that such a large-scale theft could occur within the CIA. Others have pointed to the case as evidence of the need for stronger whistleblower protections and internal auditing mechanisms.
Intelligence community veterans stressed that while this appears to be an isolated incident, it underscores the importance of rigorous, ongoing vetting for personnel with access to sensitive materials and funds.
The gold bars and luxury items seized suggest a level of personal enrichment that stands in stark contrast to the agency’s mission. The presence of Rolex watches adds a particularly conspicuous element to the allegations.
As the case proceeds, prosecutors will likely seek to trace any additional assets or expenditures by Rush that could indicate how the stolen funds were used. Defense attorneys may challenge the handling of evidence or question the agency’s internal processes.
For now, the arrest represents a significant embarrassment for the CIA at a time when the agency is navigating complex global challenges. The swift referral to the FBI and public acknowledgment of the investigation signal an effort to demonstrate accountability.
The incident is expected to fuel broader discussions about transparency and oversight within U.S. intelligence agencies. While much of their work must remain classified, cases involving potential criminal conduct often require a balance between secrecy and public trust.
Rush’s next court appearance on June 5 will provide additional details as the legal process unfolds. Authorities have not released a full timeline of when the alleged thefts occurred or how long the scheme may have gone undetected.
The case serves as a reminder of the human element in even the most sophisticated security organizations. As investigations continue, both the CIA and Congress will likely examine what systemic changes might prevent similar breaches in the future.
Business
AI and Compute Infrastructure: Shaping ASEAN’s Digital Foundation
ASEAN is transforming from a digital consumer to a digital infrastructure hub, crucial for AI and compute ecosystems. Geopolitical shifts and rising demand for data centers drive regional competitiveness, with significant foreign investments.
ASEAN at an AI Inflection Point
ASEAN is navigating a significant transition from being a region of digital consumption to one of digital infrastructure formation. As global supply chains reconfigure, the ASEAN-6 economies are positioning themselves as critical nodes in the global artificial intelligence (AI) and compute ecosystem. This shift is driven by the recognition of computing infrastructure not merely as a utility, but as a strategic asset essential for national competitiveness and economic resilience.
The region’s evolution is occurring against a backdrop of geopolitical diversification, often described as the China Plus One strategy, where multinational enterprises seek to diversify their production and digital footprints.
Consequently, ASEAN is witnessing a structural reconfiguration where data centres, semiconductor manufacturing, and connectivity networks are converging to form a regional digital backbone. This infrastructure is foundational to the region’s digital economy, which is projected to reach $2 trillion by 2030, supported by frameworks such as the ASEAN Digital Economy Framework Agreement (DEFA). The trajectory suggests a move toward deeper integration into global value chains, specifically in high-value segments like semiconductor packaging and hyperscale data processing.
The Surge in Compute Demand
Demand for compute capacity within ASEAN is being driven by a confluence of enterprise modernization, public sector digitalization, and the proliferation of latency-sensitive applications, such as real-time AI inference, online gaming, and digital payments and financial trading.
Enterprise adoption of AI is accelerating, with businesses increasingly migrating workloads to the cloud to leverage data analytics and generative AI capabilities.
The consumption patterns are distinct across the region. In financial hubs like Singapore, demand is characterized by high-performance computing required for fintech and advanced AI modeling. In emerging digital markets like Indonesia, Vietnam and Philipines, demand is propelled by consumer internet usage, e-commerce platforms, and a young demographic driving data generation. Furthermore, the rollout of 5G networks across the region is catalyzing the need for edge computing to support Internet of Things (IoT) applications and real-time processing.
Public sector initiatives are also significant demand drivers. Governments are digitizing services, as seen in Singapore’s Smart Nation initiatives and Indonesia’s 100 Smart Cities program, necessitating robust domestic compute capabilities. Consequently, the region is facing a requirement to expand data centre capacity significantly. The Asia-Pacific (APAC) region is projected to account for 34% of global operational capacity for data centres by 2028, with ASEAN contributing 51% of the pipeline in key APAC markets.
Data Centres as Strategic Infrastructure
The six largest ASEAN economies – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam – are rapidly positioning themselves as the next global hubs for data centre development, with power demand for data centres set to quadruple from 2.6 GW to 10.7 GW between 2025 and 2035, accounting for 3-4% of peak demand by 2035.
The deployment of data centres across ASEAN-6 reflects a divergence in strategy and resource availability.
Singapore remains the region’s primary hub, hosting significant capacity. However, land and energy constraints have led to a more selective approval process for new facilities, emphasizing high energy efficiency and sustainability standards.
This constraint in Singapore has generated spillover effects, benefiting neighboring markets. Malaysia, particularly the Johor region, has emerged as a major beneficiary, attracting hyperscale investments due to its proximity to Singapore and lower land and power costs. Malaysia has the biggest data centre project pipeline in Southeast Asia, accounting for 3.4 GW, or 60%, of all proposed projects across the region.
Indonesia continues to expand its capacity, primarily in Greater Jakarta and Batam, with a focus on serving its massive domestic market.
Thailand has seen a marked increase in investment activity. The Board of Investment (BOI) reported a 67% surge in investment applications in 2025, largely driven by data centre and cloud service projects valued at approximately US$ 24 billion.
The Philippines is also pursuing hyperscale ambitions, though it faces challenges regarding high electricity costs and grid reliability issues.
Vietnam is experiencing growth driven by data localization regulations, though it must navigate infrastructure upgrades to support larger facilities. While the country presently has the smallest projected data centre capacity in the region, it has set an ambitious target to place among the top 50 globally in the ICT Development Index and to become the third-largest digital economy in ASEAN by 2030.
Hyperscalers Major Contributors to FDI in ASEAN
Chart 2: ASEAN – Top five industries by announced greenfield investment, 2023 and 2024 (Billions of dollars)
Source: ASEAN Investment Report 2025
According to analysis in the ASEAN Investment Report 2025, announced greenfield investment in electronics and electrical equipment increased by 15% to US$31 billion, reflecting sustained momentum in semiconductors and printed circuit boards.
Meanwhile, greenfield investment in the information and communication sector rose 43% to US$30 billion, driven by accelerating demand for data centres, cloud infrastructure, data processing, and broader digital activities.
Foreign Direct Investment (FDI) in digital infrastructure has surged, with global hyperscalers establishing cloud regions to secure market share and comply with data sovereignty requirements. Amazon Web Services (AWS), Google, and Microsoft have committed multi-billion-dollar investments across Thailand, Malaysia, and Indonesia. For instance, AWS launched a region in Malaysia in 2024 with a substantial investment pledge, and Google launched a new cloud region in Thailand, a key milestone in their $1 billion investment in the country’s digital infrastructure.
As latency becomes a critical performance metric for AI and IoT applications, infrastructure is also moving closer to the user. Edge computing is gaining traction, particularly in archipelagic markets like Indonesia and the Philippines where centralized data centres cannot efficiently serve all remote populations.
The expansion of 5G networks across the region is a primary driver, necessitating localized data centres to handle the influx of mobile data traffic and enable real-time processing. Telcos are playing a pivotal role here; for example, SK Telecom has partnered to develop AI data centres in the region, starting with Vietnam, signaling a convergence of telecommunications and compute infrastructure.
Semiconductor Manufacturing Accelerates
The symbiotic relationship between compute infrastructure and semiconductor manufacturing is becoming a central theme in ASEAN industrial policy.
Malaysia, already a global hub for semiconductor packaging and testing, has introduced a National Semiconductor Strategy to move up the value chain into integrated circuit design and advanced packaging. This aligns with the friendshoring trend, where global firms diversify supply chains to politically stable regions.
Vietnam is aggressively pursuing semiconductor capability, aiming to train 50,000 engineers by 2030 and attracting investments from major players for packaging and testing facilities, such as Intel, Samsung, and Amkor.
Singapore continues to lead in advanced manufacturing and wafer fabrication, serving as a high-value anchor for the region’s semiconductor ecosystem. The city-state currently accounts for 5% of global wafer fabrication capacity, 20% of semiconductor equipment production, and 10% of total semiconductor output.
Indonesia primarily participates in the back end (assembly, testing, and packaging) and materials segments of the semiconductor global value chain. The country hosts back-end manufacturing facilities for several major Integrated Device Manufacturers (IDMs). Companies with an IDM presence in Indonesia include Infineon Technologies, Renesas, Rohm, Sanken Electric, and Toshiba.
The Philippines and Thailand are also integrated into this hardware supply chain, primarily in assembly and testing. The region’s collective capacity is vital for the AI hardware supply chain, as AI applications drive demand for specialized chips and high-performance computing hardware. This integration allows ASEAN to function not just as a user of compute power, but as a critical producer of the underlying hardware.
The Role of Software Ecosystems & Sovereign AI
While infrastructure creates the foundation, the software ecosystem defines utilization. Singapore has advanced its National AI Strategy 2.0, focusing on becoming a global centre for responsible AI thought leadership and deployment. Indonesia has also articulated a National AI Strategy to guide adoption in healthcare and bureaucracy.
The startup ecosystem is responding to these signals. In 2024, Singapore hosted approximately 44% of the region’s Generative AI startups, according to a survey of 250 GenAI-native startups surveyed by GenAI Fund, followed by Vietnam at 27%, indicating a concentration of development talent. However, a talent gap persists. While infrastructure can be built relatively quickly, the human capital required to develop and manage AI systems is slower to accumulate.
The ASEAN Responsible AI Roadmap attempts to address governance and skills at a regional level, promoting ethical standards and harmonized regulations to foster a trusted environment for AI development.
Singapore
NAIS 2.0: S$1B investment for AI computing & talent; “AI for the Public Good” focus
Model AI Governance Framework & AI Verify: responsible AI testing toolkit
Green Computing Funding Initiative: S$30M for energy-efficient software R&D
RIE 2025 Plan: S$13.6B (2021–2025) for semiconductor R&D and innovation
Manufacturing 2030: embeds semiconductor plans for high-value manufacturing
Green Data Centre Roadmap: DC-CFA process; targets PUE ≤1.3 and green energy
Digital Connectivity Blueprint: sustainable growth standards; aims to double submarine cable landings
Malaysia
AI Untuk Rakyat: national program to increase AI literacy among citizens
NIMP 2030: focuses on tech adoption and digitalization across industries
Malaysia National AI Office (NAIO): aims to accelerate the nation’s AI adoption, promote innovation, and ensure the ethical development of AI.
National Semiconductor Strategy (NSS): RM25B (~US$ 5.3B) fiscal support; three-phase plan: Building Foundations → Moving to the Frontier → Innovating at the Frontier
Golden Pass: specialized tax incentives for front-end manufacturing and IC design
Digital Ecosystem Acceleration (DESAC): incentive scheme for data centres adopting green technology
Green Lane Pathway (TNB): expedited electricity supply; reduces power infrastructure lead times
Vietnam
National Digital Transformation Programme: targets top 50 ICT ranking by 2030; drives demand for compute and AI infrastructure
National Strategy (Decision No. 1018/QD-TTg): 2030–2050 roadmap using “C = SET + 1” formula(Chips, Specialized, Electronics, Talent, +Vietnam)
Law on Digital Technology Industry (eff. 2026): preferential CIT rates (10% for 15 yrs; up to 37 yrs for large projects); land rent exemptions
Investment Support Fund (Decree 182/2024): cash grants; up to 50% of R&D costs covered
100% Foreign Ownership: Law on Telecommunications 2023 allows full foreign ownership in data centre services
National Digital Transformation Programme: targets top 50 ICT, driving compute infrastructure demand
Thailand
AI for All Thais: initiative to train 1 million citizens in AI skills
Digital Technology Foresight 2035: addresses blockchain, AI, and data privacy trends
National Semiconductor Board (est. 2025): chaired by Prime Minister; steers national strategy
BOI Advanced Electronics Incentives: 10-yr tax exemption for front-end wafer fab; 8-yr for advanced IC & PCB machinery
BOI Incentive Schemes (revised 2025): tiered structure: High-Efficiency DCs (8-yr CIT exemption);
Other DCs (5-yr); criteria based on PUE and water usage
Indonesia
National AI Strategy 2020–2045: guides public service digitization and regulatory frameworks
Making Indonesia 4.0: prioritizes AI, automation, and IoT in manufacturing
Downstreaming Industry Strategy (2023–2040): domestic processing of silica & nickel to support semiconductor, EV battery, and solar panel manufacturing
Special Economic Zones (SEZs): e.g. Nongsa Digital Park: up to 20-yr tax holidays, 100% foreign ownership, streamlined permitting for data centres and cloud
Philippines
National AI Strategy Roadmap 2.0: positions country as centre of excellence in AI R&D
Center for AI Research (CAIR): new institution supporting the AI Strategy
Green Lanes (Executive Order): expedited permits and licenses for strategic semiconductor investments
CREATE MORE Bill: enhanced incentives addressing power costs for energy-intensive industries
Administrative Order No. 31: advisory council to enhance global competitiveness of the semiconductor industry
Strategic Investment Priority Plan (SIPP): classifies data centres as strategic investments eligible for tax incentives
Digital Cities 2025: expands digital infrastructure and IT-BPM capacity beyond Metro Manila
Regionally, the ASEAN Digital Economy Framework Agreement (DEFA) aims to harmonize digital trade rules, potentially doubling the regional digital economy by 2030 by reducing fragmentation and facilitating cross-border data flows.
Structural Constraints & Risks
Despite the capital inflows, structural constraints pose significant risks to the realization of ASEAN’s digital backbone. Power availability is the most acute constraint. The energy intensity of AI workloads threatens to overwhelm grid capacity in specific locales. For instance, data centre power demand in Malaysia is expected to rise sharply, potentially straining national power reserves if grid upgrades do not keep pace.
Sustainability is a collateral risk. The cooling requirements for data centres place pressure on water resources, and the carbon footprint of expanded compute capacity challenges national decarbonization goals. Regulatory fragmentation remains a hurdle; disparate data privacy laws and localization requirements across the ten member states create compliance costs that can deter regional scaling.
Furthermore, the talent war is intensifying. A shortage of skilled engineers and AI specialists is evident across Vietnam, Thailand, and Indonesia, potentially creating a ceiling on how fast the digital economy can expand. There is also a risk of infrastructure overbuild in specific sub-markets if speculative investments outpace actual tenant demand, a phenomenon observed in previous infrastructure cycles.
Conclusion: Building a Regional Digital Backbone
ASEAN-6 is transitioning from a digital consumption market to a strategic production hub for the global AI economy. Supply chain diversification and enterprise demand have attracted large-scale investments from hyperscalers and semiconductor firms, positioning the region as a key node in global digital infrastructure.
Growth is complementary, not uniform. Singapore anchors high-value R&D, financing, and chip design, while Malaysia, Vietnam, and Thailand scale packaging, testing, and hyperscale data hosting. This division of labor enables ASEAN to offer an integrated, end-to-end digital supply chain.
However, there are structural constraints. AI-driven energy demand is pressuring grids and decarbonization targets, requiring accelerated renewable deployment and grid upgrades. At the same time, engineering talent shortages remain a binding bottleneck.
ASEAN’s long-term competitiveness will hinge on aligning national industrial strategies with regional integration. As initiatives like the ASEAN Digital Economy Framework Agreement (DEFA) progress, regulatory harmonization and infrastructure interoperability will determine whether the region evolves into a cohesive and resilient digital ecosystem.
Source : AI & Compute Infrastructure: Building ASEAN’s Digital Backbone
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Personalis: Initiating Coverage Of Cancer Testing Biotech With A Buy Rating (NASDAQ:PSNL)
Edmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth.
The group is for both novice and experienced biotech investors. It provides catalysts to look out for and buy and sell ratings. It also provides product sales and forecasts for all the Big Pharmas, forecasting, integrated financial statements, discounted cash flow analysis and market by market analysis. Learn more.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PSNL over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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US stocks today: S&P 500 and Nasdaq hit record closing highs as US and Iran agree to extend ceasefire
The news was first reported by Axios, which said that negotiations on Iran’s nuclear program would be held during the truce period, but that the plan still needed the approval of President Donald Trump.
“Traders are on a hair trigger with the back-and-forth on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces may not abate as fast as markets want,” said Jamie Cox, managing partner at Harris Financial Group. Economic data showed U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the Iran war. Meanwhile, U.S. GDP for the first quarter was revised lower to a 1.6% annualized increase, with momentum expected to slow this quarter.
According to preliminary data, the S&P 500 gained 43.50 points, or 0.58%, to end at 7,563.71 points, while the Nasdaq Composite gained 239.79 points, or 0.91%, to 26,917.47. The Dow Jones Industrial Average rose 24.11 points, or 0.04%, to 50,666.29. The S&P 500 healthcare index posted strong gains. Eli Lilly advanced after CVS Health said it would restore the drugmaker’s weight-loss injection, Zepbound, to its coverage and add its newly approved obesity pill Foundayo.
Tech shares also moved higher. Microsoft gained after news website the Information reported that the company would release a new coding model next week.
Marvell Technology rose after UBS raised its target price to $230 from $195.
The company’s shares have more than doubled so far this year.Snowflake shares soared after the data analytics firm lifted its annual product revenue forecast and announced a five-year AI infrastructure deal worth $6 billion with Amazon Web Services.
Peers Datadog and MongoDB also climbed.
Renewed confidence in AI and earnings growth momentum have underscored the recent rally despite the Middle East tensions, which have increased inflationary expectations.
“Markets continue to look through these risks because the global economy and corporate earnings remain relatively resilient,” said Jitania Kandhari, deputy CIO, solutions and multi-assets, at Morgan Stanley Investment Management.
“Geopolitical instability could ultimately accelerate spending in areas tied to AI, including cybersecurity, defense technology, energy infrastructure and supply-chain resiliency, reinforcing the long-term investment case.”
While the S&P 500 is trading at roughly 21 to 22 times forward earnings versus a trailing 10-year average of 19.7 times, investors are less concerned because earnings expectations are rising faster than stock prices, Kandhari said. Among other movers, Dollar Tree climbed after the discount retailer lifted its full-year profit forecast, while Best Buy also rose after the electronics vendor forecast second-quarter sales above estimates. Drone companies rose after the Wall Street Journal reported that the Trump administration was in talks to fund drone firms. Shares of Unusual Machines surged.
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How Irish Live Casino Gaming Is Reshaping Online Gambling in Ireland
For years, online gambling carried a peculiar contradiction. It promised the thrill of the casino, yet often felt about as lively as filling out a tax form at midnight.
The spinning roulette wheels were digital animations in an Irish live casino. The blackjack dealers existed only as lines of code hidden behind polished interfaces. Efficient? Certainly. Exciting? Well… that depended on how vivid one’s imagination happened to be after two coffees and a losing streak.
Today, the Irish live casino market is no longer a niche curiosity tucked away inside online betting platforms. It has become one of the driving forces behind the transformation of online gambling itself. Real dealers, live-streamed tables, instant interaction, and immersive gameplay have turned what was once a solitary digital pastime into something far closer to the pulse of a physical casino floor — minus the sticky carpets and the man loudly explaining roulette “systems” to strangers.
The Technology That Made Online Gambling Feel Human Again
A decade ago, online casinos were efficient in the way airport terminals are efficient: clean, functional, and almost entirely devoid of soul. The games worked, the graphics flashed, the bets processed instantly — yet something essential was missing. Most platforms relied completely on random number generators, systems built to ensure fairness but incapable of reproducing the nervous electricity that gives gambling its peculiar appeal. Because a casino has never been just a place where money changes hands. It is theatre disguised as mathematics. The slow spin of a roulette wheel, the dealer’s pause before turning a card, the quiet tension around a table moments before someone wins big or loses badly — those details matter far more than the software underneath them. They’ve always traded in atmosphere: the pause before the cards are revealed, the noise of a crowded table, the peculiar tension that hangs in the air when a roulette wheel slows to its final click. Watching that happen in real time has a kind of gravity to it. An algorithm, however efficient, rarely captures that feeling.
Live dealer technology changed that equation with remarkable speed.
Modern platforms now use proper HD streams, a bunch of different camera angles, live chat boxes, and studios built to look exactly like high-end casinos. When you actually see a human dealer turning over the cards or spinning that wheel, something clicks mentally. It stops feeling like a cheap computer game and starts feeling real—kind of like the massive difference between playing an album on your phone versus actually standing in a packed gig feeling the bass hit your chest.
Punters in Ireland, especially the younger crowd who grew up on streaming and interactive apps, have absolutely jumped on this. Even if an automated game is completely secure, it just doesn’t give you that same gut feeling of fairness that seeing real cards does.
It’s actually pretty funny when you think about it: the more advanced the tech gets, the harder it tries to copy old-school human contact. After spending years trying to automate absolutely everything, tech has basically done a full U-turn just to bring back the basic suspense of a live card draw and a dealer talking to you.
Mobile Play Basically Put the Casino in Everyone’s Pocket
None of this boom would’ve happened without smartphones, full stop. Phones have completely shifted how Irish people gamble, turning these live dealer sites into portable entertainment you can pull up just about anywhere.
Going to a real casino used to be a whole event. You had to plan it out, travel down there, and spend hours under bright lights paying for overpriced drinks. Live casinos completely flip that. They sit in this handy sweet spot where you get the high-end vibe without any of the hassle. You can jump onto a blackjack table while chilling on the couch, sitting on the train, or just waiting around for your food to be ready at the takeaway.
Punters here just expect total flexibility nowadays, and the big betting sites are well aware of it. They’ve spent ages tweaking these live setups specifically for mobile use, so the video feeds don’t constantly freeze up and the buttons actually work the exact second your finger hits the glass.
Honestly, with 5G sorted across most of the country now, the speeds are unreal. There’s basically zero delay or annoying buffering, meaning everything happens right before your eyes in real time. That lack of lag is everything when it comes to making the game feel like the real deal. It used to be that hitting the casino required a proper road trip, but now? It’s just a tiny app sitting right next to your WhatsApp icon.
The Social Buzz That Old-School Online Casinos Totally Missed
The main reason these live games have taken off the way they have is actually pretty obvious: having a punt has always been a social thing.
The older digital casino games used to feel incredibly lonely. Just sitting there clicking a mouse while staring at a quiet, lifeless screen completely missed the raw energy of an actual casino floor. Live dealer setups finally bring back that missing chatter, the random table banter, and the feeling that you’re actually sharing a room with other people.
You can drop messages straight to the dealers via the chat, and plenty of tables let you talk to the other players as well. Tech-wise, adding a chat box sounds like a minor update, but mentally it changes the entire vibe. People are social animals, plain and simple. We want to complain or celebrate with someone else when money is on the line. Especially when we’re losing it, to be honest.
For the Irish crowd, the big draw is mixing the craic of a night out with placing a bet. The dealer behind the screen basically turns into a referee, host, and proper entertainer all rolled into one. When you get a genuinely good dealer, they know exactly how to dial up the tension, drop a decent joke, and keep a rhythm going that cold computer code just can’t pull off. Half the time, it honestly feels more like watching a live show than doing any standard betting.
Look at the rest of the internet right now, and this matches what everyone is doing anyway. We are all naturally gravitating toward stuff where we can actually join in—think spamming Twitch chats, jumping into massive multiplayer games, or listening to live podcasts—instead of just staring blankly at a video. Live casinos basically just slide perfectly right into that exact same modern digital habit.
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Lululemon Stock Rises on Peace Deal With Founder
Lululemon Athletica and company founder Chip Wilson are burying the hatchet.
They have reached a deal that will allow Wilson to name two new directors to the company’s board after its annual meeting in June. The company also agreed to add a third director with product and brand expertise in apparel to the board by Oct. 1.
In exchange, Wilson, who owns 8.7% of Lululemon’s shares, will agree to stop criticizing the company for 18 months.
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Queanbeyan Woman Claims $60 Million Powerball Jackpot After Last-Minute Number Change
SYDNEY — A woman from Queanbeyan in New South Wales became an instant multi-millionaire on Thursday night after winning the entire $60 million Powerball jackpot in draw 1567, thanks to a spontaneous decision to change one number on her ticket just before purchase.

The winning numbers were 5, 10, 12, 16, 26, 30, 34 with Powerball 11. The NSW woman was the sole Division One winner, taking home a total prize of $60,638,678.35 after her PowerHit entry also secured multiple Division Two prizes. She matched all seven main numbers plus the Powerball, becoming one of Australia’s biggest lottery winners this year.
The winner, who wished to remain anonymous beyond her location, was watching the women’s State of Origin when she received the life-changing call from The Lott. “Oh my god! Holy crap!” she exclaimed upon learning she was the only Division One winner. “I’m just sitting here watching the women’s State of Origin.”
In a remarkable twist, the woman revealed she almost didn’t win. She had initially selected numbers via a quick pick but decided at the last moment to make a change. “I actually changed one of the numbers on the PowerHit,” she said. “I did a fast select on the ticket, but then thought I had too many numbers in the 30s. I had 33 and 34, so I took out 33 and made it 5. How insane is that!”
Up until Thursday night, the winner had been carrying a mortgage. “Up until 10 minutes ago, I had a mortgage,” she told lottery officials. She plans to continue working, at least part-time, while focusing on sharing her windfall with family. “I’m still young enough to enjoy this, share it with the family and make sure everyone’s comfortable for the rest of my life.”
The Division Two winners each took home shares of $33,614.65, with several collecting just over $1 million depending on the number of correct entries.
Powerball’s History of Life-Changing Wins
Powerball, Australia’s biggest jackpotting lottery game, has been creating millionaires since its first draw on May 23, 1996. In the 30 years since, 587 Division One winners have collectively taken home more than $8.97 billion. So far in 2026, eight Division One winners across the country have shared more than $205 million, with four from New South Wales, three from Victoria and one from Western Australia.
The largest Powerball prize awarded this year prior to Thursday’s draw was $80 million. The game’s format, which requires matching seven numbers from 1 to 35 plus a Powerball from 1 to 20, creates massive jackpots that regularly roll over and capture national attention.
Matt Hart, a spokesman for The Lott, highlighted the game’s enduring popularity. “From offering a $1 million jackpot in 1996 to today’s era of blockbuster draws, Powerball has kept Australia on the edge of its seat for 30 years with sky-high dreams, blockbuster jackpots and life-changing wins,” he said. “For millions of Australians, Powerball has ignited countless hopes and dreams, and delivered some truly life-changing moments.”
The Odds and Psychology of Lottery Wins
The odds of winning Division One in Powerball are approximately one in 134 million, making Thursday’s result an extraordinarily rare event. Lottery experts note that while the vast majority of players never win significant prizes, the occasional massive jackpot creates powerful aspirational stories that drive continued participation.
Behavioral psychologists say last-minute changes like the winner’s decision to swap 33 for 5 are common among regular players. Many describe a sudden “gut feeling” or small adjustment that they believe alters their chances, even though each draw is completely random and independent.
The winner’s story also reflects a common pattern among major lottery victors — an initial decision to keep working, at least part-time, while adjusting to sudden wealth. Financial advisers often recommend this approach to maintain structure and avoid the pitfalls that can accompany rapid lifestyle changes.
Responsible Gambling and Community Impact
Lottery operators emphasize responsible play. While stories like Thursday’s create excitement, officials remind players that the vast majority of tickets do not win major prizes. The Lott encourages setting spending limits and viewing lottery participation as entertainment rather than an investment strategy.
For the Queanbeyan winner, the windfall represents an opportunity to secure her family’s future. She has not yet detailed specific plans beyond helping relatives and reducing work hours, but her measured response suggests a thoughtful approach to sudden wealth.
Major lottery wins often have ripple effects in local communities. Winners frequently support family members, local charities and small businesses. In regional areas like Queanbeyan, such windfalls can provide economic boosts through spending and investment.
Record-Breaking Year for Australian Lotteries
2026 has already proven exceptional for Australian lottery players. Multiple seven- and eight-figure wins across Powerball and other games have kept the nation’s attention on the possibility of life-changing prizes. The combination of large jackpots and human-interest stories continues to drive strong ticket sales nationwide.
As Australia’s lottery landscape evolves with digital innovation and expanded prize pools, stories like the Queanbeyan woman’s serve as powerful reminders of the game’s potential impact. While the odds remain long, the dream of a sudden windfall continues to captivate millions each week.
The winner has time to decide her next steps as lottery officials assist with financial planning and privacy arrangements. For now, she joins a select group of Australians whose lives were transformed by a single ticket and one instinctive number change.
Thursday’s draw continues Powerball’s reputation for delivering drama and fortune. From its humble beginnings three decades ago to today’s multi-million-dollar jackpots, the game remains a fixture in Australian culture, offering hope and excitement to players across the country.
Business
Costco (COST) Q3 2026 earnings
People load their car after shopping at a Costco Wholesale store on March 21, 2026, in Bayonne, New Jersey.
Gary Hershorn | Corbis News | Getty Images
Costco Wholesale on Thursday reported an increase in net sales for its fiscal third quarter, beating Wall Street revenue expectations for the period.
The company reported net sales of $69.15 billion, up 11.6% from last year. It said adjusted comparable sales were up 6.6% for the quarter, with digital sales up nearly 21%.
Shares of the company were largely unchanged in extended trading.
Here’s how Costco performed in the period ended May 10 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $4.93 vs. $4.93 expected
- Revenue: $70.53 billion vs. $69.81 billion expected
For the three-month period, Costco reported net income of $2.19 billion, or $4.93 per share, compared with $1.9 billion, or $4.28 per share, the year prior. Revenue rose to $70.53 billion from $63.2 billion in the year-ago period.
Costco said it saw paid memberships grow 4.1% for the quarter, along with a 37% increase in traffic on its website and app. Its top sales categories included pharmacy, home furnishings and gold and jewelry.
Costco has been at the forefront of a tariff dispute with the Trump administration after a Supreme Court decision invalidated some of President Donald Trump’s levies on foreign imports. The retailer previously said it would lower its prices if it received tariff refunds following the Supreme Court decision.
Analysts had previously expected the company to see higher demand at the onset of the war in the Middle East because of its cheaper gas prices and value offerings that appeal to a more cost-conscious consumer.
This story is developing. Please check back for updates.
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