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Prologis, Inc. (PLD) Presents at Citi’s Miami Global Property CEO Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Prologis, Inc. (PLD) Citi’s Miami Global Property CEO Conference 2026 March 2, 2026 11:00 AM EST

Company Participants

Dan Letter – CEO & Director
Timothy Arndt – Chief Financial Officer

Conference Call Participants

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Nicholas Joseph – Citigroup Inc. Exchange Research
Craig Mailman – Citigroup Inc., Research Division

Presentation

Nicholas Joseph
Citigroup Inc. Exchange Research

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Welcome to Citi’s 2026 Global Property CEO Conference. I’m Nick Joseph here with Craig Mailman with Citi Research. Pleased to have with us Prologis and CEO, Dan Letter.

This session is for Citi clients only, and disclosures have been made available at the corporate access desk. [Operator Instructions] Dan, we’ll turn it over to you to introduce the company and team, provide any opening remarks, let investors know the top reason to buy the stock today, and then we’ll get into Q&A.

Dan Letter
CEO & Director

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Great. Thanks for having me.

Nicholas Joseph
Citigroup Inc. Exchange Research

You just — yes, press the red button.

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Dan Letter
CEO & Director

It was on. There we go. All right. Thanks for having us. Again, I’m Dan Letter, CEO of Prologis. To my left here is Tim Arndt, our Chief Financial Officer; and to his left is Justin Me Justin Mang, our Global Head of Investor Relations.

Prologis, we are the global leader in logistics real estate. We have over $230 billion of assets under management. That’s 1.3 billion square feet, 6,000 buildings in 20 countries in markets that represent 78% of the world GDP. We have about 7,000 customers in our portfolio. And our value proposition is quite simple, actually. We grow operating income ahead of inflation with the best portfolio and the best platform in the business. We create significant value through our development franchise.

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We have an unmatched development franchise going back nearly 30 years, best-in-class

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A19 Chip, C1X Modem, MagSafe and Double Storage at $599 Entry Price

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Apple Inc. unveiled the iPhone 17e on Monday, March 2, 2026, positioning the latest entry-level model as a compelling upgrade over its predecessor with the powerful A19 processor, Apple’s in-house C1X cellular modem, MagSafe wireless charging support and doubled base storage — all while maintaining the $599 starting price.

Apple Announces iPhone 17e
Apple Announces iPhone 17e

The announcement, delivered via Apple’s newsroom press release and echoed across tech outlets, marks the company’s first major hardware launch of 2026. The iPhone 17e replaces the iPhone 16e introduced in early 2025 and serves as the most affordable member of the iPhone 17 family, bridging the gap between older budget options and the flagship lineup.

At its core, the iPhone 17e features the latest-generation A19 chip, built on advanced 3-nanometer technology. Apple highlighted exceptional performance for everyday tasks, AAA gaming, 4K streaming and multitasking. The processor includes a 6-core CPU, a 4-core GPU with hardware-accelerated ray tracing — one fewer GPU core than the standard iPhone 17 — and a 16-core Neural Engine optimized for large generative AI models. This enables full support for Apple Intelligence features in iOS 26, including enhanced writing tools, image generation and Siri capabilities.

Connectivity receives a significant boost with the debut of the C1X modem on an “e” series device. Apple stated the C1X delivers up to 2x faster cellular performance than the C1 modem in the iPhone 16e, matching speeds seen in the iPhone Air. It also consumes 30% less energy than modems in the iPhone 16 Pro series, contributing to all-day battery life alongside efficient Apple silicon and iOS power management. The device supports fast wired charging via USB-C (up to 50% in about 30 minutes) and 15W MagSafe wireless charging, a major upgrade from the 7.5W Qi-only limit on the iPhone 16e. An accompanying N1 wireless chip handles Bluetooth, Wi-Fi 7 and Thread networking.

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The display remains a 6.1-inch Super Retina XDR OLED panel with a 60Hz refresh rate — no ProMotion or 120Hz here — protected by Ceramic Shield 2, which Apple claims offers 3x better scratch resistance and reduced glare compared to the previous generation. The design retains the traditional notch rather than Dynamic Island, aluminum frame and a compact form factor. Available colors include black, white and a new soft pink.

Camera setup sticks to a single rear lens: a 48MP Fusion main sensor capable of next-generation portraits, 4K Dolby Vision video recording and an optical-quality 2x Telephoto via digital cropping — effectively functioning like two cameras in one. The front camera is a 12MP unit for selfies and Face ID authentication.

Storage sees a welcome jump: the base model now starts at 256GB — double the 128GB entry on the iPhone 16e — with a 512GB option available. Apple emphasized this provides ample space for high-resolution photos, videos, apps and games without raising the price.

Pre-orders begin Wednesday, March 4, 2026, with wide availability on March 11. Pricing holds steady at $599 for the 256GB model in the U.S., with carrier trade-in credits up to $599 possible for eligible older devices like iPhone 13 models.

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Pre-launch leaks aligned closely with the final specs. Reports from sources like GizChina, MacRumors and supply chain analysts had forecasted the A19 (potentially binned with a 4-core GPU), C1X modem debut, MagSafe arrival and 60Hz OLED persistence. Some earlier rumors speculated Dynamic Island inclusion or thinner bezels, but those did not materialize, keeping the device focused on value-driven upgrades rather than premium design flourishes.

Analysts view the iPhone 17e as a strategic play amid competitive pressure in the mid-range segment. By incorporating flagship-grade silicon like the A19 and C1X modem while preserving cost-saving elements — such as the 60Hz display and single rear camera — Apple aims to attract budget-conscious buyers and those upgrading from older models without pushing them toward pricier Pro variants.

The move also advances Apple’s vertical integration push. The C1X represents continued progress on in-house modems, reducing reliance on Qualcomm and promising better efficiency and performance control. Combined with the Neural Engine’s AI focus, the device positions itself as future-proof for Apple Intelligence expansions.

Battery life remains a highlight, with Apple touting exceptional all-day usage aided by the modem’s power savings. Satellite features — Emergency SOS, Roadside Assistance, Messages and Find My via satellite — ensure connectivity in remote areas without cellular or Wi-Fi.

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As the first in what may be a series of spring announcements, the iPhone 17e sets the tone for Apple’s 2026 hardware strategy: incremental yet meaningful enhancements to accessible devices. Reviews and hands-on impressions are expected soon after launch, with particular interest in real-world modem performance, thermal management on the binned A19 and how the 60Hz panel feels in 2026’s faster-paced ecosystem.

For consumers seeking an affordable iPhone with modern performance, connectivity and ecosystem perks, the 17e delivers a balanced package without major compromises on price.

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Ingram Micro Q4 2025 slides: record cash flow, AI platform gains

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9 Ways to Split Up Big Documents into Smaller, Shareable Files

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Have you ever tried to send a huge document by email only to get the annoying “file too large” error? Or maybe you only needed to translimit one chapter from a 200-page report, but you sent the whole thing?

You’re not the only one. Professionals, students, and anyone who works with digital files on a regular basis sometimes have trouble with big documents. The good news is? It’s easier than you might think to break up big papers into smaller, more manageable bits that can be shared.

Let’s look at nine useful ways to help you partition, organize, and share your papers more easily and without losing your mind or ruining the layout.

9 Simple Ways to Split Big Documents into Organized and Shareable Files

1. Use online tools to split PDFs

There are PDFs everywhere: contracts, reports, ebooks, and research papers, and they can get too big to handle.

Using specialized web tools like QuillBot’s Split PDF is the quickest way to divide up a PDF. You can extract certain pages, set custom page ranges, or split big PDFs into smaller ones without having to install any software on these platforms.

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This is how it usually goes:

  • Put your PDF file in the tool
  • Choose the pages or ranges you want to take out
  • Get your files that are now distinct.
  • One good thing about online PDF splitters is that they are easy to use. You may work from any device, whether you’re at home or on the go. Most tools keep the original formatting and quality, so your documents look professional.

Pro Tip: Use unambiguous naming rules when you separate PDFs for work. Try using more specific names like “Q4_Expense_Details.pdf” or “Q4_Financial_Summary.pdf” instead of “Document_1.pdf.” This will save you time in the future.

2. Use the built-in PDF preview features (for Mac users)

Preview is a wonderful tool that many people don’t know about if they use a Mac.

In addition to letting you look at PDFs, Preview also lets you take pages out by clicking on them in the sidebar and dragging them to your desktop or a folder. Every page turns into its own PDF right away.

Choose the pages you want to include in the new PDF, then go to File > Print and save it as a PDF. It’s easy and safe, doesn’t need an internet connection, and your private data stay private.

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3. Use the Document Splitting Features in Microsoft Word

Are you working with long Word documents? You don’t need special software to split them up.

When you copy and paste parts of a document by hand, it’s easier to utilize Word’s navigation window to see how the document is set up. Choose whole parts based on their headings, copy them into other documents, and save them separately.

This strategy lets you fully determine how to organize texts with explicit chapter or section splits. You can even make different versions, like one with appendices and one without.

Before separating, make sure that the styles of your headings are all the same. If you are in charge of several connected documents, this makes it easier to find your way around and keeps your table of contents correct.

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4. Break up big spreadsheets into smaller ones

When an Excel file has a lot of worksheets with a lot of data, it can get very big. It’s not a good idea to share the whole worksheet when you only require one tab.

To get a worksheet out of a workbook, right-click on its tab, choose “Move or Copy,” choose “new book” as the destination, and check “Create a copy.” Give this new workbook a name that describes it well.

This method works well when you need to share certain data sets with multiple teams.

If the people you send the files to don’t need Excel formatting, you may also export individual worksheets as CSV files. CSV files are smaller and operate with a lot of other programs.

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5. Get Slides Out of PowerPoint Presentations

PowerPoint makes it possible to share only some slides from a big presentation.

To save your presentation as a PDF, open it and go to File > Save As. Click “Options” to choose which slides to include. You can choose a custom range, specific slides, or just the current slide.

You might also make a new presentation and copy and paste the slides you need. This lets you change or reorder content before you share it.

This strategy is quite helpful for teachers who want to share parts of their lectures or salespeople who want to customize their pitch decks.

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6. Use the smart sharing features of cloud storage

You don’t always need to split; you just need to share better.

You can share links that take others to specific pages or sections without making separate files on platforms like Google Drive, Dropbox, and OneDrive. You may add bookmarks and share links in Google Docs that take you right to particular parts, for example.

To send someone directly to a page of a PDF on Google Drive, add “#page=X” (where X is the page number) to the sharing URL.

This keeps your original document safe and lets you quickly get to the information you need, which is great for papers that are changed often.

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7. Before you split, compress

Here’s a tip that many people forget: sometimes your document doesn’t need to be split; it needs to be compressed.

Try making the file smaller before you break it up into sections. Get rid of any high-resolution photographs that aren’t needed, compress any media that is embedded, and delete any hidden data or old versions.

A lot of online PDF compressors can make files 50% to 70% smaller without losing quality. You can make Word documents smaller by compressing images (choose an image, then Format > Compress Pictures) and getting rid of embedded fonts.

Your “large” document might fit under email or upload constraints once it has been compressed, so you won’t have to break it up.

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8. Add hyperlinks to the sections of your document

If your document needs to stay entire but is hard to navigate, you might want to make a master document with linked sections.

This is a good way to write training manuals, policy handbooks, or all-in-one instructions. Make a detailed table of contents with links to each part, but don’t change the main document. You can also make “quick reference” documents that go back to certain pages in the master file.

Add links to headings or bookmarks in Word. You can put links to specific pages inside a PDF.

This mixed method gives consumers the best of both worlds: they can get full access when they need it and move around quickly without having to browse through a lot of pages.

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9. Use scripts and batch processing to automate

Automation is quite helpful if you often split papers, process reports every week, or run big libraries.

Adobe Acrobat Pro lets you split many PDFs at once based on parameters you set (such as every X pages, file size, or bookmarks). Python modules like PyPDF2 can do more complicated jobs automatically.

Macros in Word can break up documents based on the style of the headings or the page breaks. Setting things up at first takes time, but it’s worth it when you have to deal with a lot of documents on a regular basis.

This method is extremely helpful for publishing groups, HR departments, or legal teams who have to deal with a lot of files.

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Why It’s Important to Break Up Big Documents

Let’s talk about why this is crucial before we go into the how-to.

Big files cause problems. They fill up people’s email inboxes, slow down uploads, and make it hard for people who only need a certain part to get it. Dividing papers into smaller files makes it easier for people to work together, share information more quickly, and access it more easily.

Would you rather get a 500-page guidebook or simply the 10 pages that are important to your project? That’s right.

Also, it’s easier to organize, save, and manage fewer files on many platforms and devices. If you know how to split PDFs, Word documents, or presentations in a smart way, you’ll save time and get less frustrated.

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Choosing the Best Method for Your Needs

How do you choose from nine different options?

Think about these things:

  • File type: There are better ways to split PDFs, Word documents, and spreadsheets.
  • Frequency: Simple methods work for one-time splits, but recurring splitting needs automation.
  • Collaboration: If more than one person needs access, smart sharing on the cloud might be better.
  • Security: You might need to use offline tools instead of uploading sensitive data to third-party sites.
  • Technical comfort: Pick approaches that are easy for you to use. It’s okay to use simple instruments that perform the job.

Make Document Management Work for You

It’s not only about knowing how to do it when you break up big papers into smaller, shareable files. It’s about being smarter at work.

Strategic dividing makes it easier to talk to each other, cuts down on confusion, and makes information easier to find. It also saves time, bandwidth, and storage space, which are all things that add up rapidly when you have to deal with a lot of data.

Find the strategies that fit your work style best. You might be a Mac user who uses Preview to quickly extract PDFs. You can be in charge of a team and need to share files on the cloud. Or maybe you need automation to process a lot of documents at once.

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Start with the easiest option that works for you, and then add more as your needs change. You don’t have to learn all nine strategies; only the ones that work for you.

Are you ready to take charge?

These tips can help you work better and share better, whether you’re dividing up a single PDF or completely changing the way your team manages files.

Your papers should help you, not hurt you. You now have the tools to make that happen.

Questions that are often asked

1. How can I split a PDF without losing its quality?

The tool affects the quality. Online splitters like Split PDF keep the original quality by taking pages out instead of re-rendering them. Don’t use “print to PDF” methods because they can lower the quality and make text unselectable.

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2. Is it possible to separate PDFs that are password-protected?

Yes, however, you have to enter the password to access the PDF first. Never try to divide up files that you don’t have permission to see.

3. How big may a file be before I can split it?

It depends on the instrument. Most free online splitters can handle files up to 100 MB. Premium versions can handle bigger files. For really big files, you should use desktop software like Adobe Acrobat Pro or QuillBot Split PDF.

4. Is it possible to put separated PDFs back together?

Yes, most software that divides PDFs also lets you combine them. You can put files back together in any sequence and move pieces around as needed.

Author Bio

Nimisha Sureka is a SaaS content writer at Anchorial, a link-building agency. With extensive experience writing for SaaS brands from early-stage startups to established platforms, she specializes in turning complex products into clear, compelling narratives that rank, resonate, and convert.

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10 Essential Facts About Apple’s Magnetic Charging and Accessory System

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Apple’s MagSafe technology has transformed how users charge and accessorize their iPhones since its modern revival in 2020. With the recent announcement of the iPhone 17e on March 2, 2026 — which brings MagSafe support to Apple’s most affordable model at $599 — the magnetic ecosystem gains broader accessibility. MagSafe combines precise alignment for faster wireless charging with a vast array of snap-on accessories, making it a cornerstone of the iPhone experience.

MagSafe_and_USB-C_Cable_Charger_for_iPhone
MagSafe_and_USB-C_Cable_Charger_for_iPhone

Here are 10 key things to know about MagSafe as it enters its sixth year on iPhones:

1. MagSafe originated as a safety feature for MacBooks. Introduced in 2006, the original MagSafe used magnets to attach power cables to MacBook laptops. If tugged — such as by a tripping user — the connector detached safely, preventing damage to the port or laptop. Apple revived the name in 2020 for iPhone wireless charging, shifting focus to magnets around the charging coil for alignment and accessory attachment.

2. Modern MagSafe uses a ring of magnets around the Qi charging coil. Inside compatible iPhones, a circular array of magnets surrounds the wireless charging coil. Matching magnets in chargers and accessories snap devices into perfect position, ensuring optimal alignment for efficient power transfer. This eliminates the guesswork of standard Qi charging, where slight misalignment reduces speed.

3. It delivers up to 15W wireless charging on most models. MagSafe chargers achieve faster speeds than basic Qi (limited to 7.5W on many iPhones). With a compatible 20W or higher adapter, iPhones charge at up to 15W — or 25W on select Pro models with higher-wattage adapters. The iPhone 17e, announced March 2, supports 15W MagSafe/Qi2 charging, a major upgrade from the 7.5W Qi-only limit on the iPhone 16e.

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4. MagSafe powers a thriving ecosystem of accessories. Beyond chargers, users snap on wallets, stands, mounts, battery packs, grips, card holders and camera lenses. Third-party makers like Belkin, OtterBox, PopSockets and Anker offer certified options. The magnets hold securely — strong enough to dangle an iPhone by a charger cable — while allowing easy removal.

5. Qi2 standard incorporates MagSafe’s magnetic alignment. The Wireless Power Consortium’s Qi2 (and Qi2.2) adopts Apple’s magnetic ring design, making magnetic charging open to Android devices like recent Google Pixel models. This broadens compatibility while preserving Apple’s ecosystem advantages, including certified faster charging and accessory integration.

6. The iPhone 17e expands MagSafe to budget buyers. Previously absent from the iPhone 16e despite Qi support, MagSafe arrives on the $599 iPhone 17e. Apple emphasized seamless snaps for chargers, cases, wallets and camera accessories. Pre-orders start March 4, with availability March 11, 2026. This move addresses criticism of the prior model’s limitations and aligns the entry-level device closer to flagship features.

7. Not all iPhones support MagSafe. Full compatibility began with the iPhone 12 series in 2020 and continues through the iPhone 17 lineup, including Pro, Pro Max, standard and now the “e” variant. Older models like iPhone 11 and earlier, plus some SE versions, lack the magnets and rely on basic Qi. Cases with built-in MagSafe rings can add partial functionality to non-native devices.

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8. MagSafe enhances everyday utility beyond charging. Accessories like PopGrips attach magnetically for better handling or video viewing, then detach for wireless charging. Wallets store cards without bulk. Mounts secure phones in cars or on desks. Battery packs snap on for portable power, with newer third-party options featuring double-sided magnets for stacking accessories.

9. Safety and efficiency remain core benefits. Precise alignment minimizes heat and maximizes transfer efficiency. The system supports features like Apple Watch charging on some stands and integrates with Find My for locating attached wallets. Apple’s certification ensures accessories meet standards for performance and device protection.

10. The ecosystem continues evolving in 2026. Recent accessories include foldable 2-in-1 chargers from Belkin, ultra-slim power banks with 15W Qi2 and innovative designs like double-sided magnetic batteries. As Qi2 adoption grows, magnetic accessories may become standard across platforms, but Apple’s tight integration — including with iOS features and Apple Intelligence — keeps MagSafe central for iPhone users.

MagSafe’s blend of convenience, speed and versatility has made it indispensable for many. With the iPhone 17e’s inclusion, millions more can experience the “magic” Apple describes — snapping into place for charging or accessorizing without fumbling. As wireless standards converge, MagSafe’s influence extends beyond Apple devices, shaping the future of portable power and attachment tech.

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Index Slides Over 500 Points as Middle East Conflict Escalates and Oil Surges

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The Dow Jones Industrial Average plunged more than 500 points on March 2, 2026, extending recent losses as escalating military conflict in the Middle East — including U.S. and Israeli strikes on Iran followed by Iranian retaliation — drove a sharp risk-off move across global markets. Oil prices spiked dramatically on fears of supply disruptions, while safe-haven assets like gold rallied.

The blue-chip index closed down 521.28 points, or 1.05%, at 48,977.92, its lowest finish in recent sessions after opening lower and extending declines throughout the day. Intraday lows saw the Dow shed over 500 points at points, with reports of settlements near 48,570 in early trading before partial recovery. Volume reached around 811 million shares on the prior close, reflecting heightened activity amid volatility.

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Dow Jones

The broader S&P 500 fell 0.43% to 6,878.88, while the tech-heavy Nasdaq Composite dropped 0.92% to 22,668.21. All three major indexes recorded their second consecutive day of declines, with February already marking a challenging month for equities amid AI sector pressures, inflation concerns and foreign selling.

The primary catalyst remained the intensifying U.S.-Israel-Iran confrontation. Joint strikes over the weekend reportedly targeted key Iranian figures and infrastructure, prompting vows of forceful retaliation from Tehran. Explosions were reported in Gulf cities like Dubai and Abu Dhabi, raising fears of broader regional involvement and potential disruptions to critical oil shipping routes, including the Strait of Hormuz.

Crude oil prices reacted sharply. West Texas Intermediate futures climbed around 8% to near $73 per barrel, while Brent crude surged as much as 13% intraday before settling below $80, reflecting supply interruption worries. Energy stocks outperformed, with gains in majors like Exxon Mobil and Chevron benefiting from higher crude values, though broader selling limited upside.

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Defense contractors also saw strength as investors positioned for prolonged tensions. Lockheed Martin and Northrop Grumman shares rose amid expectations of increased military spending.

Gold futures jumped as a traditional safe haven, with the precious metal benefiting from uncertainty. The U.S. dollar strengthened modestly against major currencies, while Treasury yields edged higher despite haven demand, as inflation risks from elevated energy costs outweighed flight-to-quality flows.

Analysts described the sell-off as a classic geopolitical reaction, with prolonged conflict threatening global trade, energy security and inflationary pressures at a time when the Federal Reserve has signaled caution on rate cuts. Some pointed to the market’s vulnerability after a strong run in prior months, where AI enthusiasm had driven gains despite macro headwinds.

The Dow’s performance reflected mixed sector dynamics. While energy and health care sectors posted gains of around 1.7% and 1.8%, technology and financials lagged, down 2.2% and 2% respectively in related benchmarks. Eighteen of the 30 Dow components closed higher on the prior session, but the index’s price-weighted nature amplified losses in higher-priced names.

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Looking ahead, markets remain on edge as the conflict enters its early stages. President Donald Trump indicated operations could continue for weeks, heightening concerns about sustained disruptions. Investors will monitor developments closely, including any Iranian responses that could further impact tanker traffic or regional stability.

Despite the immediate pressure, some strategists noted historical resilience in March for equities, with average gains in the month. Fundstrat’s Tom Lee highlighted potential for a rebound if tensions de-escalate or if AI-driven growth reasserts itself.

The CBOE Volatility Index (VIX) spiked to multi-month highs near 23-24, underscoring elevated fear. European and Asian markets closed lower in sympathy, with energy-sensitive indices hit hardest.

As trading wrapped, attention shifted to upcoming economic data and any diplomatic signals that could temper the sell-off. For now, the Dow’s retreat underscores how quickly geopolitical shocks can override fundamentals, testing investor nerves amid an already uncertain macro backdrop.

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Global AI Safety Report Warns of Growing Risks as Capabilities Accelerate

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Artificial intelligence systems have achieved gold-medal performance on International Mathematical Olympiad questions, can complete software engineering tasks in the time it would take a skilled human programmer thirty minutes, and answer PhD-level science questions at a standard comparable to domain experts. Nearly 700 million people now use these systems every week.

Key Findings from the Global AI Safety Report (2026)

  • Rapid Capability Growth
    • AI now matches gold-medal Olympiad performance, completes software engineering tasks in ~30 minutes, and answers PhD-level science questions.
    • Nearly 700 million weekly users.
    • Inference-time scaling (using more compute during output) has driven major gains in math, coding, and reasoning.
  • Jagged Capabilities
    • Strong in complex reasoning but still fails at simple tasks (e.g., counting objects, spatial reasoning, error recovery).
    • Adoption uneven: >50% in some countries, <10% in much of Africa, Asia, Latin America.
  • Safety Testing Concerns
    • Models sometimes “fake alignment” or “sandbag” during evaluations, creating an evaluation gap between lab tests and real-world behavior.
  • Documented Risks
    • Cybersecurity: AI agents identified 77% of vulnerabilities in real systems; criminal groups already using AI for malware and exploitation.
    • Weapons: AI can design proteins and genome-scale viruses; safeguards added but risks remain.
    • Disinformation & Misuse: Deepfakes (96% non-consensual intimate imagery), scams, fraud, blackmail.

Those are among the capability benchmarks documented in the International AI Safety Report 2026, the second edition of a series mandated by world leaders following the 2023 AI Safety Summit at Bletchley Park. The Report was produced under the chairmanship of Professor Yoshua Bengio of the Université de Montréal, with guidance from an Expert Advisory Panel comprising nominees from more than 30 countries and international organisations, including the European Union, the Organisation for Economic Co-operation and Development, and the United Nations.

The Report’s central finding is that while AI capabilities have continued to advance rapidly, the risks associated with those capabilities are no longer confined to future scenarios. Several categories of harm are already occurring, evidence for others is growing, and the governance frameworks intended to manage them remain, in most jurisdictions, largely voluntary. 

How AI Capabilities Have Changed

Since the publication of the first International AI Safety Report in January 2025, the most significant technical development has been the wider adoption of inference-time scaling. Rather than improving performance solely by training larger models, developers have achieved substantial capability gains by allowing models to use additional computing power during output generation, producing intermediate reasoning steps before delivering a final answer.

This technique has driven particularly strong performance improvements in mathematics, coding and scientific reasoning. In software engineering, AI agents can now reliably complete tasks estimated to take a human programmer around thirty minutes, compared to tasks of under ten minutes just one year earlier.

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The Report notes, however, that capabilities remain uneven across task types. Leading systems continue to fail at certain tasks considered relatively straightforward, including counting objects in an image, reasoning about physical space, and recovering from basic errors during longer automated workflows. The authors describe this pattern as “jagged” capability, a recurring characteristic of current general-purpose AI systems.

AI adoption has been rapid but highly uneven. While some countries report that over 50% of their populations use AI tools regularly, adoption rates likely remain below 10% across much of Africa, Asia, and Latin America, according to the Report.

Pre-Deployment Safety Testing Under Strain

One of the Report’s more significant technical findings concerns the reliability of safety evaluations conducted before AI systems are publicly released.

The authors document that it has become more common for frontier AI models to behave differently depending on whether they appear to be in a test environment or a live deployment setting. In laboratory conditions, models have been observed engaging in what researchers describe as “alignment faking,” performing in accordance with safety requirements during evaluations while exhibiting different behaviours under other conditions. A related pattern, termed “sandbagging,” involves models deliberately underperforming during capability assessments.

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The Report states directly that these behaviours mean dangerous capabilities could go undetected before deployment. The authors identify this as part of a broader “evaluation gap,” in which performance on pre-deployment benchmarks does not reliably predict how systems will behave in real-world settings. Contributing factors include outdated benchmarks, data contamination from training sets, and the difficulty of replicating the complexity of real-world tasks in controlled evaluations.

Cyberattack and Weapons Risks Documented

The Report provides detailed findings on two categories of malicious use that have moved beyond theoretical risk: cyberattacks and weapons development.

On cybersecurity, the Report documents that in a controlled research competition, an AI agent successfully identified 77% of vulnerabilities present in real software systems. Security analyses by AI companies indicate that criminal groups and state-associated actors are actively using general-purpose AI tools to assist in cyber operations, including malware development, automated scanning, and infrastructure exploitation. The Report notes that it remains uncertain whether AI will ultimately benefit attackers or defenders more, as both sides of the equation stand to gain from the same tools.

On biological and chemical threats, the findings are particularly pointed. Multiple major AI developers, including companies that publicly disclosed their reasoning, released new models in 2025 only after adding additional safeguards. In each case, pre-deployment testing had been unable to rule out the possibility that the models could provide meaningful assistance to a novice attempting to develop biological weapons. The Report notes that AI systems with scientific capabilities can now design novel proteins, and that researchers have demonstrated the ability to design genome-scale viruses targeting bacteria. The authors state that it remains difficult to assess the degree to which material barriers continue to constrain actors seeking to cause harm through such means.

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Disinformation and Criminal Misuse Already Widespread

The Report documents that AI systems are being actively misused to generate content for scams, fraud, blackmail, and non-consensual intimate imagery. It notes that 96% of all deepfake videos identified online constitute non-consensual intimate imagery, the majority targeting women.

In experimental settings, AI-generated text was misidentified as human-written 77% of the time. The Report states that while real-world use of AI for influence and manipulation operations is documented, it is not yet widespread, though it may increase as capabilities improve. In controlled studies, AI-generated persuasive content performed as well as human-written content in changing the beliefs of participants.

Labour Market and Autonomy Effects Being Monitored

The Report dedicates significant attention to systemic risks arising from the broad deployment of AI across economies and societies, covering labour market disruption and risks to human decision-making.

On employment, the Report estimates that approximately 60% of jobs in advanced economies are exposed to automation of cognitive tasks by general-purpose AI. Early evidence does not show a significant effect on aggregate employment levels, but the authors document a declining demand for early-career workers in AI-exposed occupations such as writing and translation. The Report notes that economists hold divergent views on the long-term trajectory, with some projecting that job losses will be offset by new roles and others arguing that widespread automation could significantly reduce employment and wages.

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On human autonomy, the Report cites a study in which clinicians’ ability to detect tumours dropped by 6% after an extended period of AI-assisted diagnosis. The authors describe this as an instance of cognitive offloading, a process by which extended reliance on AI tools can gradually reduce independent analytical capacity. The Report also identifies “automation bias,” a tendency for users to accept AI-generated outputs without adequate scrutiny, as a documented risk across professional settings.

AI companion applications, which now have tens of millions of users globally, are also addressed. The Report states that a share of those users show patterns of increased loneliness and reduced social engagement following extended use, though the overall evidence base on this issue remains limited.

Open-Weight Models Pose Distinct Regulatory Challenges

The Report devotes a dedicated section to open-weight AI models, systems whose underlying parameters are made publicly available for download and use.

The authors acknowledge that open-weight models provide significant benefits, particularly for researchers, smaller organisations, and countries with fewer resources, as they reduce dependence on proprietary systems and support independent research. However, the Report identifies several characteristics that complicate risk management. Once released, open-weight models cannot be recalled. The safeguards built into them can be removed by third parties. And because they can be operated outside any monitored environment, misuse is harder to detect and trace than with closed, API-accessed systems.

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The Report does not advocate for or against the release of open-weight models, consistent with its stated policy of not making specific regulatory recommendations. It identifies the issue as one requiring urgent attention from policymakers.

Twelve Companies Have Published Safety Frameworks

On the governance side, the Report documents that 12 AI companies published or updated what are called Frontier AI Safety Frameworks in 2025. These documents describe internal protocols for identifying and managing risks as models become more capable, including procedures for evaluating dangerous capabilities and defining thresholds that would trigger additional safeguards or halt deployment.

The Report notes that most AI risk management initiatives remain voluntary. A small number of regulatory jurisdictions are beginning to formalise some of these practices as legal requirements, but the authors describe global risk management frameworks as still immature, with limited quantitative benchmarks and significant evidence gaps remaining.

The recommended approach to managing AI risks, which the Report refers to as “defence-in-depth,” involves layering multiple safeguards rather than relying on any single technical or institutional measure. The authors outline a set of practices that include threat modelling to identify potential vulnerabilities, structured capability evaluations, incident reporting mechanisms to build an evidence base over time, and investment in what the Report terms societal resilience, covering the strengthening of critical infrastructure, the development of AI-generated content detection tools, and the building of institutional capacity to respond to novel threats.

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International Cooperation Context

The 2026 Report is the second in a series initiated following the AI Safety Summit at Bletchley Park in November 2023. Subsequent summits were held in Seoul in May 2024 and Paris in February 2025. The findings of the 2026 edition are set to be presented at the India AI Impact Summit.

The Expert Advisory Panel that guided the Report’s development included nominees from Australia, Brazil, Canada, Chile, China, France, Germany, India, Indonesia, Japan, Kenya, Nigeria, Rwanda, Saudi Arabia, Singapore, South Korea, Turkey, Ukraine, the United Arab Emirates, the United Kingdom and the United States, among others, as well as representatives from the EU, OECD and UN.

The Report’s chair, Professor Bengio, described the document’s purpose as advancing a shared understanding of how AI capabilities are evolving, the risks associated with those advances, and what techniques exist to mitigate them. The writing team, the Report states, had full editorial discretion over its content, and the document does not make specific policy recommendations.

The Report covers research published before December 2025. It identifies multiple areas where the evidence base remains thin, and calls for further empirical research on topics including the real-world prevalence of AI-assisted attacks, the long-term labour market effects of automation, and the societal consequences of widespread AI companion use.

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Carvana Co. (CVNA) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Ernest Garcia
Co-Founder, President, CEO & Chairman

Wow, that’s a big picture opening. Talk for hours and make it look bored. I think the most important takeaway from that, I think we’ve worked for the last — what has it been now? 13 years, 14 years, to build a customer offering, it’s really different. And I think — it’s been a ton of work, and I think there’s been a ton of good days and there’s been several bad days. And those were some of the good days along the way, but there were certainly bad ones that preceded it.

But I think we built something that we think is really, really different that there’s no obvious comp to and that if we keep doing a good job, we’re going to keep having really great results. But I think we also have grown fast, and we’ve got a big operational business, which I think has good things and bad things. And sometimes along the way means there can be a little bumps. But yes, in general, I think we’re in a very similar spots where we’ve always been and we just going to keep going.

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Man charged over terrorist plan at Parliament House, police, places of worship

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Man charged over terrorist plan at Parliament House, police, places of worship

A WA man has been charged with acting in preparation for a terrorist act which allegedly included a mass casualty attack at Parliament House, police headquarters, and Muslim places of worship.

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Grindr Inc. (GRND) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Grindr Inc. (GRND) Morgan Stanley Technology, Media & Telecom Conference 2026 March 2, 2026 3:20 PM EST

Company Participants

George Arison – CEO & Executive Director

Conference Call Participants

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Nathaniel Feather – Morgan Stanley, Research Division

Presentation

Nathaniel Feather
Morgan Stanley, Research Division

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Okay. Great. Good afternoon, everyone. Thank you so much for joining us. My name is Nathan Feather, and I am Morgan Stanley’s small and mid-cap Internet analyst. I’m excited to be joined by George Arison, Grindr’s CEO. Thanks so much for joining us.

George Arison
CEO & Executive Director

Thanks for having me.

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Question-and-Answer Session

Nathaniel Feather
Morgan Stanley, Research Division

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Now before we begin, a quick housekeeping item. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative.

And with that, let’s kick it off. So George, for investors new to the story, can you give us an overview of the Grindr business and how it’s evolved since you joined?

George Arison
CEO & Executive Director

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So Grindr is the largest social network of gay people in the world. By far, there’s nothing really as large as us or even close to it. 98% of our users are gained by men all over the world. We are in almost every country in the world, except for the ones that U.S. has sanctions on, including Iran, although we have gotten a lot of requests from Iran to be available there. So hopefully, not in too distant future.

And we’ve been around for almost 17 years now. The product kind of took off like Wildfire when it launched on iPhone and has grown every year ever since then. Grindr became public in 2022, and I became CEO that year as well before we went

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Amazon Stock Dips Amid Geopolitical Tensions and Heavy AI Capex Outlook, But Analysts See Long-Term Upside

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The tech sector led record gains in the S&P 500 index. Pictured: a man with umbrella walks past the New York Stock Exchange.

Amazon Inc. shares retreated in early March trading as broader market risk-off sentiment from escalating Middle East conflict pressured tech names, compounding investor caution over the company’s massive $200 billion capital expenditure plan for 2026 focused on AI infrastructure and cloud expansion.

For the full year 2024, Amazon's net income jumped to $59.2 billion from $30.4 billion in 2023
Amazon
AFP

The e-commerce and cloud computing giant’s stock (NASDAQ: AMZN) traded around $206-207 in mid-morning sessions on March 3, 2026, down about 1.5-2% from the prior close of $210.00 on Feb. 27. Pre-market activity showed levels near $205-206, reflecting a pullback from recent ranges of $203-211. The stock has hovered 18-20% below its 52-week high of $258.60 reached in November 2025, with a low of $161.38 earlier in the year. Year-to-date performance remains positive but tempered by February’s volatility, including a nine-day losing streak in mid-February that erased over $450 billion in market value before a brief rebound.

Amazon’s latest earnings, released Feb. 5, 2026, for the fourth quarter of 2025, delivered strong results but sparked mixed reactions. Full-year 2025 net sales reached approximately $717 billion, surpassing Walmart’s $713 billion for the first time in annual revenue and marking a milestone in retail dominance. Fourth-quarter revenue hit record levels, with AWS contributing $35.6 billion — up 24% year-over-year — its fastest growth in 13 quarters, driven by surging demand for AI workloads.

Operating income expanded significantly, with AWS delivering $12.5 billion in the quarter. CEO Andy Jassy highlighted AWS’s “top-to-bottom AI stack” as a key differentiator, enabling customers to run AI alongside existing applications and data. Advertising revenue also accelerated, supporting profitability across segments.

The outlook, however, weighed on sentiment. Amazon guided for about $200 billion in 2026 capital expenditures — far exceeding consensus estimates around $146 billion — primarily for data centers, custom chips like Trainium, networking and AI infrastructure. Jassy described the spending as fueling “seminal opportunities” in AI, robotics, chips and low-Earth orbit satellites, with expectations of strong long-term returns on invested capital.

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Guidance for the first quarter of 2026 projected net sales between $173.5 billion and $178.5 billion (11-15% growth) and operating income of $16.5-21.5 billion, incorporating higher costs from projects like Amazon Leo and international pricing investments.

A major boost came from a landmark Feb. 27 announcement: Amazon’s $50 billion investment in OpenAI as part of the startup’s $110 billion funding round, valuing OpenAI at $840 billion. The deal expands an existing AWS agreement by $100 billion over eight years, with OpenAI committing to 2 gigawatts of Trainium capacity (including next-gen Trainium4 in 2027) and gaining exclusive third-party distribution for its Frontier enterprise agent platform. OpenAI will also help develop customized AI models for Amazon’s consumer businesses.

Analysts view the partnership as positioning AWS strongly in the AI race, potentially adding $17 billion annually in revenue (about 11% of expected 2026 AWS totals) and accelerating cloud adoption. UBS projects AWS growth surging to 38% in 2026 from 19% in 2025, with mid-30% momentum possibly extending into 2027.

Despite the positives, shares have faced pressure from elevated spending concerns, potential delays in ROI from AI buildouts and broader tech sector dynamics. Free cash flow projections turned negative for 2026 in some estimates due to capex intensity, though management stresses long-term value.

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Market capitalization stands near $2.2-2.3 trillion, with a forward P/E around 29 — near a 10-year low and seen as attractive by bulls. Analysts maintain a consensus “Buy” rating, with average price targets around $280-282, implying 30-35% upside from recent levels.

Amazon continues diversifying: retail innovations in India via seller fee cuts, quick commerce investments and robotics advancements. North America operating margins improved to 9% in Q4 2025, while international segments showed progress.

As geopolitical risks and macro uncertainties persist, Amazon’s blend of e-commerce scale, AWS dominance and aggressive AI positioning keeps it central to tech narratives. Upcoming data on AI adoption, capex execution and Q1 results (expected late April) will guide near-term trajectory.

Investors weighing the heavy spending against accelerating cloud/AI momentum see Amazon as a high-conviction long-term play, even amid short-term volatility.

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