NEW YORK — Xanadu Quantum Technologies Limited shares rocketed more than 54 percent in midday trading Wednesday, surging to around $22.68 as investors piled into the newly public photonic quantum computing company amid a sector-wide rally triggered by Nvidia Corp.’s launch of open-source AI models designed to accelerate quantum research and development.

At approximately 12:29 p.m. EDT on April 15, 2026, XNDU stock had climbed $8.07, or 54.42 percent, from Tuesday’s close of $14.83 on heavy volume exceeding 4.5 million shares — far above recent averages. The Canadian company’s market capitalization swelled toward $7.9 billion intraday, reflecting explosive enthusiasm for quantum plays just weeks after its March 27 Nasdaq and TSX debut via a $302 million de-SPAC transaction with Crane Harbor Acquisition Corp.

The catalyst came from Nvidia’s announcement of a new family of open-source AI models, including Ising, explicitly built to speed advances in quantum computing. The move signaled growing integration between classical AI infrastructure and quantum technologies, lifting the entire sector. Xanadu, D-Wave Quantum, IonQ, Rigetti Computing and others posted double-digit gains, with XNDU leading the charge as one of the freshest pure-play names available to retail and institutional investors.

Xanadu specializes in photonic quantum computing, an approach that uses particles of light rather than superconducting circuits or trapped ions. This room-temperature technology promises easier scaling and compatibility with existing fiber-optic networks, potentially giving it an edge in building fault-tolerant systems. The company’s flagship software platform, PennyLane, has become a popular open-source tool for quantum machine learning and hybrid quantum-classical algorithms, with average monthly downloads growing 161 percent to about 160,000 in 2025.

Fiscal 2025 results released April 9 showed revenue of $4.6 million, up 188 percent from $1.6 million the prior year, driven by expanded customer contracts and services. The company posted a net loss of $70.7 million, widening from $46 million as it ramped research and development and incurred costs tied to the public listing. Cash stood at $16.2 million at year-end 2025, but the de-SPAC injected substantial fresh capital to fund hardware scaling and commercialization efforts.

CEO Dr. Christian Weedbrook highlighted technical milestones in the earnings release. Xanadu introduced Aurora, described as the world’s first modular, networked photonic quantum computer with real-time error correction. Researchers demonstrated 12 logical Gottesman-Kitaev-Preskill (GKP) qubits with error correction, published in the journal Nature. Optical loss was reduced by 60 percent during the year, a 20-fold improvement over three years, addressing a key barrier to scalable photonic systems.

The company advanced in government programs, reaching Stage B of DARPA’s Quantum Benchmarking Initiative for up to $15 million and earning selection for Canada’s Quantum Champions Program with up to CAD $23 million. Negotiations continue for up to CAD $390 million under Project OPTIMISM to build domestic semiconductor and photonic manufacturing infrastructure in Ontario.

Xanadu opened a $10 million photonic packaging facility and forged new partnerships with entities including the U.S. Air Force Research Laboratory, Mitsubishi Chemical, Rolls-Royce, AMD, Lockheed Martin and others. PennyLane integrations with tools from AMD, NVIDIA’s cuQuantum and the Munich Quantum Toolkit continue expanding its software ecosystem, allowing researchers to simulate and optimize quantum algorithms on classical GPUs before deploying on actual hardware.

Wall Street coverage remains limited in the stock’s early public life, but the broader quantum sector commands attention as investors hunt for exposure to technologies that could eventually crack encryption, accelerate drug discovery, optimize logistics and enhance AI capabilities. Analysts note Xanadu’s photonic approach differentiates it from superconducting leaders like IBM or ion-trap players like IonQ, while PennyLane provides a software moat that reaches developers worldwide.

Yet risks abound. Xanadu remains pre-revenue at commercial scale, with significant operating losses and heavy dependence on continued government and private funding. Quantum computing as an industry faces formidable technical hurdles on the path to fault tolerance, with useful, large-scale machines likely still years away. Competition is intense, and execution on manufacturing scale-up will prove critical.

The stock’s 52-week range stretches from a low near $6.97 to an intraday high approaching $25 on Wednesday, underscoring extreme volatility typical of early-stage deep-tech names. Short interest and retail enthusiasm, amplified by social media chatter around quantum and AI convergence, have fueled sharp moves since the March debut, when shares popped 15 percent on the first trading day.

For investors debating positions in 2026, Xanadu represents a high-risk, high-reward bet on the quantum revolution. Bulls point to the $302 million war chest, strong technical progress, PennyLane’s growing adoption and potential government backing as foundations for long-term value. The Nvidia-driven sector tailwind adds near-term momentum, with some models projecting substantial upside if Xanadu hits roadmap targets such as hundreds of logical qubits by the end of the decade.

Skeptics caution that current valuations embed aggressive assumptions about commercialization timelines. With minimal revenue and ongoing cash burn, dilution risks remain if additional capital is needed. Broader economic conditions, regulatory shifts around quantum technologies and geopolitical competition — particularly with China’s quantum ambitions — could influence sentiment.

Next catalysts include updates on Project OPTIMISM funding, further PennyLane releases, hardware demonstrations and any partnerships leveraging the new Nvidia quantum AI tools. The company’s road map targets meaningful progress toward fault-tolerant systems in the 2029-2030 timeframe, aligning with industry forecasts that the quantum computing market could exceed $11 billion by 2030.

As a newly listed name, Xanadu offers pure-play exposure to photonic quantum hardware and software at a time when AI leaders like Nvidia are explicitly bridging the two fields. Its Toronto headquarters and Canadian government ties add a North American diversification angle within a sector often dominated by U.S. players.

Retail traders have driven much of the recent volume, drawn by the narrative of quantum supremacy potentially disrupting everything from cybersecurity to materials science. Institutional interest appears to be building, though many funds remain on the sidelines pending clearer commercial traction.

At current levels near $22.68, the stock trades at a significant premium to its recent post-IPO range, reflecting both sector excitement and the inherent speculation in frontier technologies. Short-term momentum traders may ride the Nvidia wave, while longer-term believers focus on execution milestones and the eventual transition from research prototypes to revenue-generating systems.

Xanadu’s story blends cutting-edge science with the classic challenges of bringing transformative technology to market. Its photonic platform, open software strategy and fresh public capital position it as a notable contender in the quantum race. Whether Wednesday’s surge marks the start of sustained momentum or another volatile chapter will depend on delivering against ambitious technical and commercial goals in the quarters ahead.

The broader quantum sector continues to capture imagination as AI’s limits push interest toward complementary computing paradigms. For Xanadu, the Nvidia boost provides validation and visibility at a pivotal moment. Investors will watch closely for signs that the company’s hardware-software combination can translate scientific breakthroughs into real-world advantage in an increasingly competitive field.

He died today, according to a post on his LinkedIn page attributed to his spokeswoman, Kylie Wong. John Ninia, a partner at Mobius Investments, said he died in Singapore.

In more than 30 years with Franklin Templeton Investments, officially Franklin Resources Inc., Mobius became an evangelist for money-making opportunities in Africa, Asia, Eastern Europe and Latin America. In a crowd of investing advisers, he was distinctive in part for his impeccably shaved head, which inspired the nickname Bald Eagle.

Hired in 1987 by John Templeton, a pioneer in leading American investors to companies abroad, Mobius started one of the first mutual funds dedicated to rapidly developing new markets. He oversaw the Templeton Emerging Markets Group until 2016, was lead manager of its flagship Templeton Emerging Markets Investment Trust until 2015 and retired in January 2018.

From 1989 until his retirement, the closed-end fund returned 13.4% a year on average, according to Morningstar Direct. From 2001, when the MSCI Emerging Markets Index was introduced, the Templeton fund beat that benchmark by 1.9% a year on average, according to Morningstar.

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“Mark Mobius is to emerging market investing what Colonel Sanders is to fried chicken,” Peter Douglas, a principal at the Singapore chapter of the Chartered Alternative Investment Analyst Association, said when Mobius stepped aside as portfolio manager. “He is the icon of the industry and has been the global cheerleader of emerging markets.”
Partly based in Singapore, Mobius traveled 250 to 300 days a year in a Gulfstream IV private jet, visiting factories and distributors in remote corners of the globe to identify investment opportunities. He correctly predicted the start of a bull market that began in 2009, snapped up bargains during the Asian financial crisis after Thailand floated its currency in 1997 and bought Russian stocks as panic selling took hold in Russia in 1998. He was also one of the first institutional investors to identify Africa as a promising frontier market, setting up the Templeton Africa Fund in 2012.

‘Kicking the Tires’

“I believe in getting out and kicking the tires,” he wrote in 2015. “I would rather see with my own eyes what’s happening in a company or country. Lies can be as revealing as truth, if you know what the cues are.”

Just last month, via his Substack column, he shared his thoughts on the war in Iran and its impact on equity markets.

Mobius founded London-based Mobius Capital Partners in 2018 and oversaw actively managed funds investing in emerging market equities. He left there in late 2023 but continued to seek out investing opportunities, setting up a new venture in Dubai, where he had lived for three years.

Franklin Resources Inc. was founded in 1947 and is based in San-Mateo, California. It acquired John Templeton’s investment firm — Templeton, Galbraith & Hansberger Ltd. — in 1992 to create Franklin Templeton Investments.

Joseph Bernhard Mark Mobius was born on Aug. 17, 1936, in Bellmore, on New York’s Long Island. His German father, Paul Mobius, was a ship’s cook and baker. His mother, the former Maria Louisa Colon, was Puerto Rican. With his two brothers, Hans and Paul, Mobius grew up with German and Spanish spoken at home.

In 1955, Mobius received a scholarship to study dramatic arts at Boston University and worked as a pianist in a nightclub to help pay for his education. He earned a bachelor’s degree in fine arts and a master’s in communications.

Studied in Kyoto

He successfully applied for a scholarship to learn Japanese culture and the Japanese language in Kyoto, triggering his desire to live and work in Asia. After earning a Ph.D. in political science and economics from Massachusetts Institute of Technology, in 1964, he took a job with International Research Associates, conducting surveys and other consumer research in Thailand and Korea for a year each.

He ended up in Hong Kong, where he started his own industrial research consulting firm. One project — a report on the Hong Kong stock market — was his entre into securities analysis. His Yul Brynner hairstyle, as he described it, was conceived at this time after a fire in his apartment damaged his hair and he shaved the rest off, according to his 1997 memoir.

He was hired by Vickers Da Costa, a UK stock brokerage, to start a Taiwanese fund management company, International Investment Trust. He traveled to the Bahamas to present investment opportunities to Templeton, who in 1986 asked if he would be interested in running an emerging markets fund. The following year they raised $100 million in capital, listed their fund on the New York Stock Exchange and opened a small office in Hong Kong for Mobius and two Chinese analysts. They began investing in six places: Hong Kong, Philippines, Singapore, Malaysia, Mexico and Thailand.

“You must remember, in those days, most countries did not welcome foreign investment,” Mobius recalled in a 2022 interview with Barry Ritholz for Bloomberg’s Masters in Business podcast series. “They were also either socialist or communist like China and Russia. Eastern Europe was out of the question, of course. So we had only six markets in which to invest, and then we started expanding. Gradually, markets opened up. And eventually we were investing in something like 70 different countries around the world.”

1987 Crash

After losing a third of his fund’s value in the October 1987 stock market crash during his first year with Templeton, Mobius diversified to other markets including Argentina, Mexico, Indonesia and Russia.

Mobius wrote more than a dozen books on investing and economics, including The Investor’s Guide to Emerging Markets (1994) and Passport to Profits (1999). He shared rules and aphorisms including, “If you see the light at the and of the tunnel, it’s too late to buy.”

In 1999, he was tapped to serve on the World Bank’s Global Corporate Governance Forum as a co-chairman of a task force on investor responsibility.

Mobius never married. In Passport to Profits, he wrote that there were costs and benefits to being a “full-time nomad — an endangered species I’ve long admired for their fierce independence, their refusal to abide by conventional norms, their desperate desire for freedom.”

“Though some people probably pity me for having no home, no family, no domestic life to speak of,” he wrote, “my somewhat eccentric lifestyle offers untold opportunities for variety, stimulation and creativity.”

NEW YORK — Facebook Messenger’s standalone website messenger.com stopped functioning for messaging on April 16, 2026, as Meta Platforms Inc. completed a long-planned consolidation that forces desktop users to switch to Facebook’s integrated messaging interface at facebook.com/messages.

The change, first announced in February 2026, took effect Thursday, leaving many desktop users confused when they tried to access the familiar dedicated site and found themselves automatically redirected. Mobile apps for iOS and Android continue operating normally, but the web-only experience has ended, marking the latest step in Meta’s effort to streamline its messaging ecosystem and cut costs on separate desktop platforms.

Meta’s official help page clearly states the transition: starting April 2026, messenger.com is no longer available for messaging. Users attempting to visit the site are redirected to facebook.com/messages, where conversations sync seamlessly. The standalone Messenger desktop apps for Windows and Mac, already discontinued earlier, followed the same fate. For those who accessed Messenger without a linked Facebook account, web access is now unavailable, and they must rely on the mobile app to continue chats.

The move has sparked widespread frustration among users who preferred the clean, distraction-free interface of messenger.com. On social media and forums like Reddit, complaints poured in Thursday morning from people who opened their browsers expecting quick access to messages only to be funneled into the full Facebook experience. Many reported that the redirect works but feels slower or cluttered with news feed elements and ads.

Downdetector and similar monitoring sites showed a spike in reports Thursday, with users noting problems accessing Messenger on Chrome and other browsers. Some described the service as “deadsies in Chrome but OK on phone,” while others simply saw the shutdown as the final nail in the coffin for the independent web version. Meta’s business status page and developer tools reported no widespread outages for the Messenger Platform itself, confirming the issue is intentional rather than a technical failure.

The decision fits Meta’s broader strategy of unifying its apps and reducing maintenance overhead. Last year the company phased out standalone Messenger desktop applications, already pushing users toward the Facebook web interface. By eliminating messenger.com, Meta simplifies its infrastructure while encouraging deeper integration within the main Facebook platform. Executives have emphasized that core messaging features — sending texts, voice notes, video calls, group chats and disappearing messages — remain fully intact across supported channels.

For most users the transition should be painless. Conversations, media and chat history sync automatically. Users can restore older chats using a PIN code on any device. The mobile apps, which handle the vast majority of Messenger traffic, are completely unaffected and continue receiving updates with new features such as improved AI-powered replies and enhanced end-to-end encryption options.

Still, the change hits certain groups harder. Power users who relied on messenger.com for work or personal separation from their Facebook feeds now face a less streamlined experience. People without Facebook accounts — a shrinking but notable segment — lose web access entirely and must download or continue using the mobile app. Business users who integrated Messenger into workflows or browser extensions may need to update bookmarks and scripts pointing to the old domain.

Industry analysts view the shutdown as part of Meta’s ongoing efficiency drive under CEO Mark Zuckerberg. The company has faced pressure to control costs while investing heavily in artificial intelligence, the metaverse and advertising tools. Consolidating messaging reduces server overhead and development resources previously split across separate web properties. Similar moves have occurred with Instagram and WhatsApp features migrating toward unified experiences.

User reaction has been mixed but vocal. On Threads, X and Facebook groups, some welcomed the simplification, noting they already used facebook.com/messages without issues. Others expressed annoyance at losing a dedicated space, joking that Meta is slowly erasing the boundaries between its apps. Tech reviewers noted that while the functional impact is minimal for most, the symbolic loss of an independent Messenger web presence feels like another step toward tighter platform control.

Meta has not provided detailed statistics on how many users relied exclusively on messenger.com, but the volume of pre-shutdown discussions on Reddit and tech forums suggests millions accessed it regularly for quick desktop messaging. The company rolled out in-app and browser notifications months in advance, giving users time to adjust habits or export data if needed.

For those still encountering problems Thursday, basic troubleshooting steps include clearing browser cache and cookies, trying a different browser or device, or simply using the mobile app as a temporary bridge. Meta’s help center offers guides for restoring chats and managing notifications after the switch. Business and developer users should check Meta’s status page for any API-related impacts, though the core Messenger Platform shows no known issues.

The shutdown arrives amid broader questions about Meta’s messaging strategy. With WhatsApp dominating international markets and Instagram DMs overlapping heavily with Messenger, the company continues experimenting with cross-app interoperability while maintaining separate identities. Future updates may bring even tighter integration, potentially including shared inboxes or unified notifications across Facebook, Instagram and Messenger.

As of midday April 16, 2026, the majority of users appear to have adapted quickly. Redirects function smoothly for most, and mobile usage remains stable. Any residual spikes on outage trackers likely stem from confusion rather than service failures. Meta has not commented publicly beyond its existing help documentation, a sign the company views the change as routine maintenance rather than a major disruption.

For longtime Messenger fans the day marks the quiet end of an era. Launched as a standalone app in 2011 and spun into its own web presence, Messenger once symbolized Facebook’s ambition to own communication beyond the blue social network. Today it operates more as a feature set embedded across Meta’s family of apps, reflecting a mature platform focused on efficiency over separate branding.

Travelers, remote workers and anyone who preferred keeping messaging separate from scrolling feeds will feel the shift most acutely. Many have already migrated workflows to WhatsApp, Signal or iMessage, while others simply accept the new reality and bookmark facebook.com/messages.

Meta’s larger ecosystem remains robust. Billions of messages flow daily across its platforms with strong encryption and reliability. The company continues investing in spam detection, parental controls and AI features designed to make conversations safer and more useful.

As the dust settles on messenger.com’s final day, the episode serves as a reminder of how quickly digital habits evolve. What felt like a permanent fixture for desktop users has now joined the list of phased-out products in tech’s relentless march toward consolidation. Mobile remains king, and Facebook’s messaging hub stands ready to absorb the traffic.

Users who encounter persistent issues can visit Meta’s help center or contact support through the app. For the vast majority, however, the change is seamless: open Facebook, click Messages, and continue exactly where you left off. The conversations haven’t disappeared — they’ve simply found a new home in the heart of the world’s largest social network.

Whether this consolidation improves the experience or frustrates dedicated users will play out in the coming weeks. For now, Messenger lives on, just not quite as independently as it once did. The standalone web chapter has closed, but billions of daily chats continue uninterrupted across phones and the redirected desktop interface.

More than 5,000 Graco infant car seats sold through Target, Walmart and other major retailers are being recalled in the United States after the company and federal regulators warned of an injury risk tied to the seat base.

The recall applies to Graco SnugRide Turn & Slide car seats sold in the United States from January 2026 through March 2026 at Amazon, Babylist, Target, Walmart and on Graco’s website.

“At Graco, the safety of children and the trust of parents and caregivers are at the heart of everything we do,” Graco said in a statement announcing the voluntary recall on Monday. 

“We know parents rely on Graco products every day, and we understand this may create frustration and disruption for families,” the statement continued. “We are working quickly to support affected families and will provide a replacement product at no cost.”

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Graco has announced a voluntary recall of select SnugRide Turn & Slide products sold at major retailers including Amazon, Target, and Walmart between January 2026 and March 2026. The company stated the recall was initiated after a structural issu (Graco)

This recall was “due to a structural issue identified during a post-production laboratory test,” according to Graco.

According to a Department of Transportation recall report, 5,126 units are potentially involved. The report warns of “increased risk of injury.”

“A properly seated carrier may detach from the convenience base under certain crash conditions,” the DOT defect description for the Rearfacing Infant Seat reads. “The base locking hooks may allow the carrier to detach.”

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The recall impacts as many as 5,126 infant car seats. (Graco)

The recall applies only to select SnugRide Turn & Slide models, including some infant car seats, bases and Modes Nest travel systems with the matching car seat. Graco said no other rotating car seats are affected, including EasyTurn and Turn2Me, and no other SnugRide models are included.

Consumers are being told to stop using the seat with the base, though Graco said the seat can still be used without the base if installed with the vehicle seat belt and according to product instructions.

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The company is offering free replacement products, including infant seats, toddler seats or, for base-only purchases, a replacement base.

Graco said affected owners should check the model number on the base label, upload a photo of the white label and complete the company’s recall registration form.

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Customers should not return the product to stores, according to Graco.

Thom Tillis, an influential Republican senator on the committee which oversees nominations for the Federal Reserve chair, has threatened to block Warsh’s confirmation. If Warsh is not confirmed before Powell’s term expires, he plans to stay on temporarily in the post.