Individual Economists

Israel Lifts Restrictions At Jerusalem Holy Sites, Ben Gurion Airport Fully Reopened, Normalcy Returns

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Israel Lifts Restrictions At Jerusalem Holy Sites, Ben Gurion Airport Fully Reopened, Normalcy Returns

Israeli cities have suffered heavy bombardment under Iranian and Hezbollah missiles over the past many weeks going back to the start of Trump's Operation Epic Fury on February 28, but the start of the fragile Iran ceasefire has seen the bombs halted, at least for now.

A sense of normalcy is finally returning across Israeli society, after millions of citizens have on a daily basis had to scramble to get to bomb shelters. Emergency restrictions have been lifted across most parts of the country, and even holy sites in Jerusalem are being opened back up, after Israeli authorities starting last month severely restricted access.

Near the Church of the Holy Sepulchre, Jerusalem. Shutterstock

Jerusalem police on Thursday announced the removal of all restrictions and deployed hundreds of officers and volunteers across the city.

Access to Christian, Jewish, and Muslim holy sites was either fully prohibited or limited to small groups, amid the prior daily barrage of Iranian missile and drone attacks.

The Al-Aqsa Mosque compound has been reopened too. It had remained closed for much of Ramadan and the Eid al-Fitr holiday, which was somewhat unprecedented in recent history. This created immense tensions between Palestinian Muslims and Israeli security forces.

Roman Catholics and Western Christians were severely limited during last weekend's Easter observances at the Church Of The Holy Sepulchre in Jerusalem's Old City.

However, the Iran ceasefire and reopening coincides with upcoming Orthodox Christian Easter (Pascha) celebrations on Sunday.

Typically tens of thousands of Christian pilgrims from Russia, Greece, Eastern Europe and elsewhere descend on Jerusalem ahead of Orthodox Holy week, however, travel difficulties and the threat of renewed war have had a chilling effect, and much fewer are expected to attend.

Israeli police may still move to limit gatherings, and typically they set up barricades in various parts of the Old City in and around the Christian quarter in the name of imposing greater security.

Still, there's a sense of optimism, but Israeli raids in Lebanon have kept things unpredictable. Iran has been warning against ongoing Israeli strikes on Beirut and elsewhere, and so the war could be renewed at any moment.

Tyler Durden Thu, 04/09/2026 - 18:00

ChatGPT Accused Of Aiding Florida State Mass Shooter

Zero Hedge -

ChatGPT Accused Of Aiding Florida State Mass Shooter

Authored by Steve Watson via modernity.news,

Big Tech’s leading AI faces growing accusations of enabling violence rather than preventing it.

Attorneys representing the family of Robert Morales, killed in the April 17, 2025, Florida State University shooting, announced plans to sue OpenAI and ChatGPT. The law firm Brooks, LeBoeuf, Foster, Gwartney and Hobbs stated the suspected gunman, Phoenix Ikner, was in “constant communication” with the chatbot leading up to the attack.

Ikner opened fire outside the FSU student union, killing Morales, a 57-year-old Aramark worker and father, and Tiru Chabba, 45, a vendor from South Carolina. Six others were wounded. Court records list more than 270 images of ChatGPT conversations as exhibits.

The firm declared: “We have reason to believe that ChatGPT may have advised the shooter how to commit these heinous crimes. We will therefore file suit against ChatGPT, and its ownership structure, very soon, and will seek to hold them accountable for the untimely and senseless death of our client, Mr. Morales.”

Recent coverage also notes newly released chat logs where Ikner reportedly asked ChatGPT about school shootings and the busiest times on campus.

One post referenced details such as the chatbot informing him the Student Union was busiest between 11:30am and 1:30pm, with the shooting occurring at 11:57am.

The New York Post reported the claims in detail.

OpenAI responded by saying they identified an account believed to be associated with the suspect after the shooting, proactively shared information with law enforcement, and cooperated fully. They claim to build ChatGPT to respond safely and continue improving safeguards.

Yet the body count linked to such interactions keeps rising, while the company’s selective enforcement and post-incident cooperation fail to reassure victims’ families preparing legal action.

This incident follows another high-profile case. In February 2026, Canadian trans shooter Jesse Van Rootselaar carried out a deadly attack at Tumbler Ridge Secondary School.

OpenAI employees were alarmed by his disturbing ChatGPT messages and discussed alerting authorities, but the company chose not to notify police beforehand, instead banning the account.

They only contacted law enforcement after the shooting. A family has already sued OpenAI over that incident as well.

These developments echo earlier warnings. ChatGPT once provided detailed suicide instructions and drug-and-alcohol guidance when prompted as a fake 13-year-old.

Studies have found that as many as one in four teens now rely on AI therapy bots for mental health support, raising questions about vulnerable users interacting with systems that appear inconsistent on harm prevention.

ChatGPT’s selective ideological programming has also been repeatedly called into question. For example, it once refused a hypothetical request to quietly utter a racial slur even to save a billion white people.

Americans expect technology that upholds safety and individual responsibility, not systems that lecture on ethics while allegedly guiding violence. The mounting lawsuits and documented failures demand accountability from OpenAI and scrutiny of the priorities embedded in its models. Until Big Tech prioritizes preventing real-world harm over narrative control, these tragedies risk becoming a grim pattern rather than isolated failures.

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Tyler Durden Thu, 04/09/2026 - 17:40

Massachusetts Governor Uses Donut Holes To Explain The State Energy Crisis She Caused

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Massachusetts Governor Uses Donut Holes To Explain The State Energy Crisis She Caused

The Democrat tendency to talk down to their constituencies as if they are children has become a mainstay of American political discourse in the past several years.  This behavior is rooted in a simmering arrogance among the political class, but it also tends to expose their lack of understanding when it comes to some of the more basic economic and industrial concepts. 

In other words, Democrats treat people as if people are dumb because they are, in fact, dumb.

Maura Healey, the Governor of Massachusetts, has been in office since 2023. A Democrat, she boasts of being the first woman and first "openly LGBT" person elected to the position.  Her administration's focus is dedicated to climate change issues, which plays a large part in the reasons why MA is currently facing record high power prices and an overall energy crisis. 

As Attorney General and Governor, Healey has pursued a lawsuit against Exxon for "not disclosing" climate risks caused by their products to investors and consumers through marketing campaigns.  Of course, there are no "climate risks" caused by Exxon's products.  Why would they disclose a risk that doesn't exist?

In November 2024, Healey signed "Clean Energy" legislation which includes reforms to prevent natural gas expansion by limiting gas utility investments that conflict with climate change mandates. This disrupts the creation of new fossil fuel infrastructure in an attempt to "phase down" public reliance on gas and redirect focus toward green energy. Critics argue that these policies hinder gas reliability and raise long-term costs for citizens of MA.  

Since Healey took office, gas heating prices in MA have risen by 35%-50% and electricity prices are listed among top five most expensive states in the US.  Massachusetts already had high energy rates before Healey, but they surged after her climate change policies were implemented. 

 

Green energy, as everyone knows, is far less efficient than oil, gas or coal (20% to 60% less efficient depending on the source).  State programs that prioritize green tech while suppressing carbon based energy usually result in higher prices for everyone while also creating a bottleneck and shortages during weather related disasters or global supply chain disruptions. 

When Healey holds up donut holes as a representation of Massachusetts' limited energy resources, what she doesn't mention is that, unlike donut holes, not all energy sources are the same.  Wind power or solar power is far less reliable and efficient compared to natural gas.  Electric vehicles often still rely on power generated by coal and natural gas.  Around 75% of MA's energy output comes from natural gas because it is by far the most reliable and affordable source. 

Healey's solution for storage (green tech, batteries, etc.) is far less practical and far more expensive.  Natural gas storage is vastly superior in terms of cost and energy output.  Massachusetts doesn't have below ground storage for gas, but relying on storage in other states is still cheaper than the billions of dollars they would need to build battery-based storage in MA.  

The Governor then, of course, goes on to blame Donald Trump's opposition to green tech development as the cause of higher prices.  Keep in mind, prices exploded in MA well before Trump took office in 2025.  Furthermore, Trump's criticisms are completely reasonable.

First, climate change theories are a sham.  There is no concrete evidence of a causation relationship between carbon, human industry and global warming.  None.  In fact, the atmospheric carbon record for the past 400 million years doesn't match the temperature record in the slightest. 

And, temperatures today are far cooler than they have been in the past. That is to say, we are nowhere near record high temperatures for the Earth.  Climate scientists make these claims based on records that only go back around 140 years, which is an extremely narrow time window.

Meaning, the pursuit of green tech in the name of saving the planet is pointless, and it's causing economic suffering for the citizenry.  Green energy might one day be efficient enough to supply ample power to the world, but for now it has hobbled legitimate energy production.  Today, most financial resources should be put into oil, coal, gas and perhaps nuclear (nuclear plants take 6-10 years to build, plus another 5 years for approval). 

Climate obsessed Democrats like Healey are the primary cause of high energy prices in blue states.  It is undeniable.     

Tyler Durden Thu, 04/09/2026 - 17:20

FCC Set To Vote on Easing Satellite Power Rules, Boosting SpaceX's Starlink

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FCC Set To Vote on Easing Satellite Power Rules, Boosting SpaceX's Starlink

Authored by Kimberly Hayek via The Epoch Times (emphasis ours),

The Federal Communications Commission (FCC) announced Wednesday it will vote on an order to revamp satellite spectrum-sharing rules that would benefit low-Earth orbit broadband providers - and SpaceX stands to gain the most.

The SpaceX Falcon 9 rocket carrying Starlink satellites is seen over Sebastian Inlet after launching from Cape Canaveral, Fla., on Feb. 26, 2025. Sam Wolfe/Reuters

“By discarding last century’s satellite regulations, we could see billions of dollars in benefits for the American economy and broadband speeds many times faster than what is available today,” FCC Chairman Brendan Carr said in a statement.

“This overdue rethinking of space spectrum sharing rules will bring greater competition to the broadband marketplace and reduce the number of satellites needed to serve a given area.”

The vote on April 30 could reshape how tens of millions of Americans, particularly those in rural communities, connect to the internet from space.

The proposed order would raise the power levels that low-earth orbit (LEO) operators are permitted to use in frequency bands shared with incumbent geostationary orbit systems. For SpaceX, whose Starlink network already spans more than 10,000 satellites, the change would mean substantially faster and more reliable service.

Not everyone is on board. Geostationary operators, including Viasat, SES, and DIRECTV, have opposed the move, arguing that allowing Starlink to transmit at higher power would cause damaging interference to their own networks.

In a filing submitted Tuesday, DIRECTV told the agency that SpaceX’s interference studies contain “significant unresolved questions.”

SpaceX has dismissed those concerns as a defense of the status quo. 

“The question of whether the [equivalent power flux density] framework harms consumers by unnecessarily constraining [LEO] services has been definitively resolved: it does,” SpaceX wrote last month. The company added that the current rules unfairly favor what it called outdated satellite systems while leaving rural users underserved.

The FCC appeared to agree. The agency said in its release that “government-imposed overprotection of GSO systems has meant that American households and businesses—most critically in rural and remote areas—do not receive the fastest space-based broadband American innovation has available.”

The international power limits at the center of the dispute were established in the 1990s and were designed to shield geostationary satellites from interference caused by lower-orbiting constellations. At the time, LEO broadband networks like Starlink did not yet exist.

The FCC took an early step toward reform in January, when it approved 7,500 additional second-generation Starlink satellites and granted SpaceX a temporary waiver from the power restrictions while the agency’s broader rulemaking proceeded.

SpaceX has argued that the existing Equivalent Power Flux Density (EPFD) limits rely on obsolete computer models that fail to account for modern beamforming and interference-mitigation technologies now standard in newer satellite systems.

As of March, Starlink’s constellation comprised more than 10,020 satellites in low Earth orbit, accounting for roughly 65 percent of all active satellites worldwide, with more than 10 million subscribers reported as of February.

A formal vote on the new power rules would mark the most consequential shift in satellite spectrum policy in a generation.

Tyler Durden Thu, 04/09/2026 - 17:00

Beijing Cries Foul Over Chinese Scientist's Death Following Alleged US Interrogation - Feds Tight-Lipped

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Beijing Cries Foul Over Chinese Scientist's Death Following Alleged US Interrogation - Feds Tight-Lipped

China is accusing U.S. federal authorities of "hostile questioning" by US law enforcement following the death of a groundbreaking Chinese semiconductor researcher who fell to his death inside a University of Michigan building last month, while American law enforcement and university officials remain tight-lipped about any federal involvement.

Danhao Wang, an assistant research scientist in the University of Michigan’s College of Engineering, died after falling from an upper level inside the George G. Brown Building on the Ann Arbor campus around 11 p.m. on March 19. University police responded to the scene and pronounced him dead. The incident is being investigated as a possible act of self-harm, with no indication of foul play or any ongoing threat to the campus community.

GG Brown Building Addition (Architect Magazine)

Chinese officials, including the embassy in Washington and the consulate in Chicago, have strongly linked Wang’s death to what they describe as “unwarranted” interrogation by U.S. law enforcement just before the incident. Beijing has lodged multiple “solemn representations,” accusing the U.S. of overstating national security concerns, engaging in political manipulation, and subjecting Chinese scholars to discriminatory practices that create a “chilling effect” on academic exchanges.

The Chinese Foreign Ministry and embassy spokespeople have publicly demanded a full investigation, a “responsible explanation” to Wang’s family, and an end to such alleged harassment. The embassy confirmed Wang died by suicide and has been assisting his family.

U.S. authorities have offered no confirmation or denial of any questioning. The FBI’s Detroit field office cited its longstanding policy of neither confirming nor denying investigations involving specific individuals. University police and administrators have released only basic details about the fall while the case remains active.

Wang had worked in Prof. Zetian Mi’s lab since 2022, focusing on wide-bandgap III-nitride semiconductor materials and devices. His research centered on emerging wurtzite ferroelectric nitrides — advanced materials with unique polarization properties that could revolutionize electronics.

Groundbreaking Research

Wang’s most significant contribution was as co-first author on a landmark 2025 paper in Nature titled “Electric-field-induced domain walls in wurtzite ferroelectrics.” The work solved a long-standing puzzle: why these ferroelectric nitrides remain stable despite extreme polarization discontinuities that should theoretically tear the crystal apart.

Using transmission electron microscopy and density functional theory, the team discovered that when an electric field reverses polarization, “domain walls” form at the interfaces. These walls feature a unique buckled hexagonal atomic arrangement - never observed before - where dangling bonds with negatively charged electrons precisely compensate the positive charge buildup, stabilizing the material.

Critically, these domain walls also create highly conductive pathways - roughly 100 times more charge carriers than in standard gallium nitride transistors. The conductivity is electrically tunable: it can be turned on/off, moved, or adjusted in strength using the same field that controls polarization.

The breakthrough has sweeping implications for the semiconductor industry:

  • Ultra-low-power computing and AI: Ferroelectric field-effect transistors (FeFETs) could integrate non-volatile memory and logic in the same material, slashing energy use in AI chips, edge devices, and data centers.
  • High-power and high-frequency electronics: Domain-wall transistors promise superior performance in RF devices, power amplifiers, and next-generation power electronics.
  • Neuromorphic and memory tech: The materials support brain-like synaptic behavior and energy-efficient non-volatile memory.
  • Broader applications: Sensors, MEMS devices, quantum photonics, and hybrid optoelectronic systems all stand to benefit from the tunable ferroelectric properties.

University of Michigan Engineering Dean Karen Thole called Wang “a promising and brilliant young mind” whose work represented a landmark advance in uncovering the switching and charge compensation mechanisms of these emerging nitrides.

Tyler Durden Thu, 04/09/2026 - 16:40

The Economic Destruction Of Trump's War Goes Far Beyond High Gas Prices

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The Economic Destruction Of Trump's War Goes Far Beyond High Gas Prices

Authored by Connor O'Keeffe via the Mises Institute,

For the past six weeks, as this US-Israeli war with Iran has played out, the economic impact of the conflict has gotten a lot of attention. And rightfully so.

As anyone who’s consumed any news about this war knows well by now, the Strait of Hormuz is a major energy chokepoint, the Iranian government did exactly what they said they were going to do if Trump and Netanyahu ordered this attack and started blocking ships tied in any way to the government’s attacking them from passing through the Strait, and the US, Israeli, or really any other government have not been able to do anything about it.

However, throughout all of this, most of the discourse about the economic impacts of the war has focused on the rising prices drivers are facing at the gas pump. That isn’t surprising, as gas prices are an early cost that impact consumers directly.

But the emphasis on pain at the pump threatens to badly understate the economic damage of this war. And it helps feed the false impression that, if this new attempt at a ceasefire holds and the war ends somewhat quickly, gas prices will fall back down as fast as they rose, and then all the global economic turmoil the world’s been worrying about will be avoided.

It won’t. A lot of economic pain has already been locked in by this war. But to really understand it, it’s necessary to keep a few important economic truths at the front of our minds.

First is the fact that the entire purpose of the economy is to produce goods and services that consumers value enough to pay for. All of the production happening anywhere in the economy is geared towards that end.

That’s relatively straightforward with the production of consumer goods. A commercial brewer, for example, chooses to produce specific beers because they think consumers will value those beers enough to pay more money than the brewer spent producing them, making it a profitable production.

But it’s also true for all the production that is not directly tied to a finished consumer good—which is, in fact, most of the production happening in the economy. Businesses produce capital goods like industrial stainless-steel mixing tanks, rubber tractor tires, plastic packaging, or the ingredients of fertilizer because there’s demand for those goods from other businesses that produce later-stage goods and, ultimately, consumer goods.

So, returning to the brewing example, all the production that results in that finished bottle of beer doesn’t begin with the brewer. It requires grain that is planted, grown, harvested, and transported to the brewery. It also requires fermenters, Brite tanks, mash tuns, and canning or bottling systems—all of which need to be produced with other capital goods like stainless steel, which itself requires other capital goods like iron ore.

Every consumer good can be viewed as the end of a long chain of production stretching all the way back to the cultivation of raw materials like iron or timber, or the creation of basic components like resins or plastics. Economists call those basic capital goods at the beginning of the chain higher order goods.

And what’s important to remember about higher order goods is that, first, almost all of them are used in many different lines of production. Iron ore is not exclusively used to help eventually produce beer, it’s used to make a lot of goods that are themselves used to make a lot of other goods. It’s what’s called a non-specific factor of production. Any change in the production of iron ore has widespread consequences across the economy. 

And second, production takes time. That’s true for the production of any given good, but it’s especially true if we look across that entire chain of production. The higher order goods that are currently being produced won’t help bring about finished consumer products until months or even years down the road.

All of this is important to understand and keep in mind because the war with Iran is, so far, primarily impacting the production of higher order goods. And it goes far beyond oil.

About 8 percent of the world’s aluminum travels through the Strait. And aluminum is used across many sectors, including construction, manufacturing, and technology. Nearly a third of the world’s helium supply comes from Qatar, which is an important component in semiconductor production as well as MRI systems.

Polyethylene and other kinds of plastics and resins are also greatly affected. More than 40 percent of the world’s polyethylene is exported from the Middle East. And these are used in all stages of production in all sorts of industries—packaging, auto parts, medical equipment, consumer containers, industrial components, electronics, and much, much more.

And there are other often-neglected but extremely important hydrocarbon products being held up, such as petroleum naphtha, which is critical for refining gasoline and producing solvents for cleaning agents and paints. Natural gas condensate is another liquid hydrocarbon used in refining and to dilute other denser hydrocarbons to make them easier to transport. There’s also liquified petroleum gas, or LPG, which is mostly composed of propane and butane. These components are also important for refining as well as residential cooking and heating in many parts of the world. Much of the world’s supply of all these products is produced in the Middle East and exported through the Strait of Hormuz.

Another often-neglected yet critical higher-order good is sulfur. About half the world’s seaborne sulfur trade moves through the Strait. It’s important for refining petroleum and minerals like copper, nickel, and zinc, which are widely used in everything from electronics to medicine.

But the other major use of sulfur is as an ingredient in fertilizer. The sulfur supply shock—along with adjacent shocks in the supply of ammonia and urea, other key fertilizer components primarily exported through the Strait of Hormuz—has created a time bomb in global food markets.

Which brings us to another economic concept that is extremely important to understand if we want to fully comprehend the situation we’re now in. The problem is not merely a rise in prices but, specifically, the destruction of supply. The strikes on production facilities and the severing of supply lines mean there is now not enough supply of the components I laid out above available to meet current levels of demand. And because, again, these higher order goods are demanded for the production of lower order and consumer goods, that means, eventually, fewer consumer goods. The rising prices are a symptom of the fact that there is now less stuff available for everyone who wants it than there was before.

The fertilizer shortage provides a good example. The fact that producers cannot get their hands on the supply of ingredients like sulfuric acid, ammonia, and urea they need to meet demand means they are forced to produce less fertilizer than their customers need. Which, in turn, means those customers—industrial and family farmers—have less fertilizer to use during this year’s spring planting season. Which means they produce fewer crops. This leads to less animal feed for livestock and produce overall, resulting in an unavoidable drop in the food supply.

Those of us who are fortunate enough to live in developed countries above the poverty line will primarily experience the shortage as higher food prices. But for the millions of people who are already struggling to secure the food they need, this drop in supply may force them to go without.

That is not a choice forced on all of us by some greedy companies, it is an unavoidable consequence of the economic destruction brought about by this war.

And that same basic process is at play with all the other commodities and higher order goods I mentioned, as can be seen in the dramatic price increases. Aluminum prices have already surged by 10 percent. Import prices for helium have jumped 50 percent. Polyethylene prices are up 37 percent. Polypropylene is up 38 percent. And the price of petroleum naphtha has tripled since February.

Remember, these price increases are not the whole story. They are the symptom of supply shortages that will work their way through all relevant lines of production and result in fewer consumer goods down the road—all from production disruption that will be slow to start back up again, even when the war is fully over.

That means fewer containers available for goods like nail polish and, yes, beer. It means fewer medical supplies, like IV bags, syringes, and sterile packaging, all of which rely on petrochemical plastics. Also, delays in construction projects as it becomes harder to source asphalt, plastics, and aluminum inputs. And dangerous health issues going undetected because of limited MRI machine availability, and much more.

And that’s not to mention, of course, the oil and LNG shortages that people are already sufficiently focused on. These commodities power nearly all stages of all lines of production and help produce the diesel and jet fuel used to physically move everything in the economy to where it needs to be.

Unlike gas prices, these effects will take some time to develop—especially in the US, where our supply chain is momentarily protected from the initial impacts. And they won’t be as clearly tied to the war in the minds of most people. But the costs of all this economic destruction are real, they are substantial, and they are already locked in.

Tyler Durden Thu, 04/09/2026 - 16:20

No Storybook Ending: Disney Plans Another Round Of Layoffs

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No Storybook Ending: Disney Plans Another Round Of Layoffs

Disney turned a new chapter earlier this year when Josh D'Amaro took over the century-old entertainment giant from Bob Iger as chief executive. But the closely watched succession has occurred against the troubling backdrop of recent reorganization and a questionable turnaround effort, leaving Wall Street analysts with mixed feelings.

The Wall Street Journal reports that D'Amaro is set to continue the layoffs that started under Iger's watch, with a new round of approximately 1,000 workers that could be announced in the near term.

For those employees, there is no happy storybook ending to Disney's next round of layoffs, which will impact the recently consolidated marketing department.

Iger, who returned to save the sinking Disney ship in 2022, launched major restructuring efforts that included the elimination of more than 8,000 jobs. Most of the cuts centered on entertainment, ESPN, and corporate units, while parks and cruise operations have largely remained untouched and continued to expand.

The report continued:

Disney has been consolidating long-siloed operations to cut costs and coordinate its efforts across divisions, particularly online. The company combined marketing for entertainment, experiences and sports under a single chief marketing officer, Asad Ayaz, for the first time, in January. Ayaz's plan to unite the marketing group and reduce expenses is code-named Project Imagine, according to people familiar with the matter.

Disney is also combining the staff of its Disney+ and Hulu streaming services as it goes about merging both brands into one app. The company has been working with consultants from Bain & Co. to strategize its cost-cutting.

The decision to reduce headcount reflects broader pressure across Hollywood (death of Hollywood in charts), where traditional TV profits have softened, box-office returns remain muted, and streaming has become increasingly unprofitable. Disney is also trying to free up capital for faster-growing digital businesses.

The latest Bloomberg data shows Disney's overall workforce consists of 231,000 full- and part-time employees.

Reshaping Disney to appease shareholders comes as the stock is down nearly 13% for the year (as of Wednesday's closing). Shares trade at Covid lows and have been locked in a trough since mid-2022.

"This transition comes at a moment when the world is changing faster than ever. While that can feel daunting at times, it is also exciting," D'Amaro said earlier this year in a statement.

Perhaps cutting all woke propaganda sneaked into entertainment under Disney brands to indoctrinate children would also be a start toward regaining the trust of households that have gravitated to other studios for media consumption

Whether D'Amaro can stabilize Disney remains an open question.

* * *

Tyler Durden Thu, 04/09/2026 - 15:40

Texas Pacific Land Crashes After Largest Shareholder Dies

Zero Hedge -

Texas Pacific Land Crashes After Largest Shareholder Dies

Land-and-royalty company Texas Pacific Land Corp. crashed the most since early Covid after the head of its largest shareholder unexpectedly died. 

Bloomberg reports that Murray Stahl, CEO of Horizon Kinetics and a TPL board member, died on Thursday, sending shares spiraling lower by 17% in late-afternoon trading.

This marked the largest intraday decline in the stock since early 2020.

Stahl was described as a longtime believer in TPL, one of the largest private landowners in Texas, with most of its acreage concentrated in the oil-rich Permian Basin of West Texas.

TPL generates revenue by owning land, collecting oil and gas royalties from activity on that land, and selling or managing water-related services tied to drilling and production.

"His firm, Horizon Kinetics, along with its predecessors, had been TPL's largest shareholder for many decades. Murray believed in the Company when it was still a thinly-traded, little-known trust that simply owned some land in west Texas," TPL CEO Ty Glover wrote in a press release. 

Bloomberg data show that Horizon Kinetics is TPL's largest shareholder, owning 10.3 million shares, or about 14.99% of the tradable shares outstanding.

The cause of death was not immediately released by the family or TPL's CEO.

The plunge in TPL shares following the death of its largest shareholder likely reflects uncertainty about the company's future direction, as well as the possibility that Horizon could eventually reduce its stake. The volatility may also result from TPL's tight float and thin trading, which can amplify price swings when unexpected news hits.

* * *

Tyler Durden Thu, 04/09/2026 - 15:00

Minneapolis Pushes To Legalize Sex Bath-Houses For Gay Somali Immigrants

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Minneapolis Pushes To Legalize Sex Bath-Houses For Gay Somali Immigrants

Authored by Steve Watson via Modernity.news,

Minneapolis city leaders are barreling ahead with plans to legalize adult bathhouses and sex venues where consenting adults can engage in sexual activity, scrapping a 38-year ban enacted during the AIDS epidemic.

The push, driven by activists, comes as the gay Somali community in Minneapolis has been clamoring to legalize bathhouses. City leaders are considering the proposal that would allow patrons to engage in sexual intercourse in the venues, the New York Post reports.

This latest development underscores the deepening assimilation issues in a city long transformed by mass Somali immigration.

The Minneapolis City Council has referred a package of four proposed ordinances to staff for further development. These include creating licensing and business regulations for adult sex venues that facilitate sexual activity between consenting adults, updating zoning codes for sexually oriented businesses, revising health and sanitation standards related to contagious diseases, and adding exceptions to miscellaneous offenses provisions.

Activists from the Safer Sex Spaces Coalition have led the charge. They argue the 1988 ban, which targeted “high-risk sexual conduct” such as fellatio, anal intercourse, and vaginal intercourse in commercial settings, is outdated and stigmatizing.

“The Minneapolis Health Department and other public health organizations acknowledge this ordinance is no longer the tool needed to promote public health, “the coalition stated adding “Social science research tells us that commercial sex spaces, like gay saunas, are important for promoting safer sex practices, enhancing HIV prevention, and increasing access to testing and treatment. These spaces also enhance feelings of identity, camaraderie, authenticity, and belonging. They are spaces where people overcome isolation and develop a sense of community and pride.”

Council Member Jason Chavez supported referring the measures, saying: “LGBTQIA+ gathering spaces, including bathhouses, have long been targeted by criminalization and policing, and our communities have paid a devastating price for that. That’s why we’re referring this to staff to begin building policy alongside community members and stakeholders.”

Council President Elliott Payne noted that such activities “already happen in the shadows, and we are trying to ensure that they are safe for patrons, especially when LGBTQ+ individuals are under attack by the federal government.” He pointed to potential regulations modeled on San Francisco, including condom availability and staff training on harm reduction.

A spokesperson for Mayor Jacob Frey indicated the mayor supports continued exploration of the issue.

Hardly surprising given that all he does is pander to Somalis.

The original 1988 ban drew backing even from within the LGBTQ+ community at the time, including the city’s first openly gay council member, Brian Coyle, who backed the measure before his death from AIDS-related complications in 1991. Activists now claim the rules disproportionately harmed same-sex partnerships and people with HIV/AIDS while driving gatherings into unsafe private spaces.

Recent coverage confirms the council delayed full debate on the ordinances this week but remains committed to directing staff research.

Critics view the effort as emblematic of misplaced priorities. While neighborhoods struggle with the social and economic fallout of rapid demographic change—including documented fraud schemes and parallel economies—the focus shifts to licensing orgy venues and updating “stigmatizing language” in city code.

Minneapolis—often called “Little Mogadishu”—has faced repeated exposure for hundreds of millions in Somali cash smuggling operations routed through Minneapolis-St. Paul International Airport, in addition to an explosion of Somali related fraud scandals.

TSA whistleblowers who highlighted these schemes faced pushback, including accusations of racism and Islamophobia from figures tied to the Walz administration aimed at silencing concerns over Somali fraud.

Legalizing commercial sex spaces in a city already wrestling with smuggling networks and identity politics does not signal enlightened governance. It signals a leadership class more attuned to activist coalitions than to restoring order and cohesion.

Voters across the heartland have grown weary of cities that import unassimilated populations and then contort public policy around every resulting demand.

Minneapolis offers a cautionary tale of where such approaches lead—public health debates recycled from the 1980s, now layered atop deeper failures in border security and cultural integration.

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Tyler Durden Thu, 04/09/2026 - 14:40

DOJ Opens Criminal Investigation Into J6 Committee Star Witness Cassidy Hutchinson

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DOJ Opens Criminal Investigation Into J6 Committee Star Witness Cassidy Hutchinson

Authored by Debra Heine via American Greatness,

The U.S. Department of Justice (DOJ) has opened a criminal investigation into Cassidy Hutchinson, the former White House staffer who made a number of false claims about President Donald Trump before the January 6 Committee in June 2022.

The probe, led by the DOJ’s Civil Rights Division under Assistant Attorney General Harmeet Dhillon, began in early April 2026 after a criminal referral from Rep. Barry Loudermilk (R-Ga.).

In December 2024, the House Administration’s Oversight Subcommittee, which is chaired by Loudermilk, released a 128-page interim report concluding that the J6 star witness had lied under oath and that the Select Committee knew her outrageous claims were false when they publicly promoted her.

In a December 17, 2024  press release,  Loudermilk referred former Rep. Liz Cheney (R-Wy.) to the Department of Justice for an investigation into “potential criminal witness tampering based on the new information about her communication.”

Loudermilk accused Cheney of colluding with then-media darling Hutchinson without her attorney’s knowledge.

Hutchinson had testified that President Trump was aware that his supporters had weapons on the morning of January 6 but didn’t care because they weren’t there to hurt him.

She also falsely claimed that Trump tried to seize the wheel of the presidential limo and lunged at his former security detail when the Secret Service would not drive him to join protesters at the Capitol.

Loudermilk’s report concluded:

  • President Trump did not attack his Secret Service Detail at any time on January 6.

  • President Trump did not have intelligence indicating violence on the morning of January 6.

  • Cassidy Hutchinson falsely claimed to have drafted a handwritten note for President Trump on January 6.

  • Representative Cheney and Cassidy Hutchinson baselessly attempted to disbar Hutchinson’s former attorney.

Loudermilk’s report accused Cheney of “using the January 6 Select Committee as a tool to attack President Trump, at the cost of investigative integrity and Capitol security.”

As of now, the Justice Department has not announced any investigation into Cheney, and the report’s recommendations remain unacted upon by federal prosecutors.

Hutchinson’s  allegations were so flimsy even anti-Trump Special Counsel Jack Smith didn’t believe her and refused to use her as a witness in his prosecution of Trump.

The Department of Justice (DOJ) investigation will focus on whether she committed perjury during her “bombshell” televised testimony, particularly regarding claims that Trump encouraged violence on January 6 and attempted to seize the presidential limo’s steering wheel.

The assignment of the case to the Civil Rights Division is considered highly unusual, as perjury cases are typically handled by the U.S. Attorney’s Office in Washington, D.C., which is run by U.S. Attorney Jeanine Pirro.

The investigation will examine claims from other witnesses and internal testimony that contradict Hutchinson’s account, particularly the Secret Service’s denial of the limo incident.

During a news conference Tuesday, Acting Attorney General Todd Blanche stated that Trump has the “right” and “duty” to call for investigations into individuals he deems suspicious, including his former staffer turned anti-Trump fabulist.

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Tyler Durden Thu, 04/09/2026 - 14:00

Mediocre 30Y Auction Has First Tail Since November

Zero Hedge -

Mediocre 30Y Auction Has First Tail Since November

After a solid 3Y auction and a tepid 10Y auction earlier this week, moments ago the Treasury concluded the final coupon auction of the week, when it sold $22 billion in a 30 year reopening in what was another average auction.

The sale stopped at a high yield of 4.876%, virtually unchanged from 4.871% a month ago and the highest since last July. It also tailed the When Issued 4.871% by 0.5bps, the first tail since November.

The bid to cover was 2.385, down from 2.452 in March and the lowest since December '25. 

The internals were in line: Indirects were awarded 64.14%, up from 63.4% in March but below the six-auction average of 66.8%. And with Directs down to 24.23% from 27.23% (above the recent average of 22.9%), dealers were left holding 11.6%, the most since January.

Overall, this was a mediocre 30Y auction, with average stats resulting in the first tail for the tenor since last November, yet with markets still only focused on Iran there was virtually no little market reaction.

Tyler Durden Thu, 04/09/2026 - 13:27

Trump 'Optimistic' An Iran Deal Within Reach, After First Non-Iranian Tanker Transits Hormuz Since Ceasefire

Zero Hedge -

Trump 'Optimistic' An Iran Deal Within Reach, After First Non-Iranian Tanker Transits Hormuz Since Ceasefire Summary: 
  • Bibi says pursuing Lebanon ceasefire after reports of Trump pressure. Over 250 killed and 1,000+ wounded in Lebanon from Wednesday surprise attack by Israel's military. UAE, Pakistan, and even EU (Kallas) condemn.

  • Trump 'optimistic' a deal within reach (NBC). WH confirms Vice President Vance will lead Kushner-Witkoff delegation in Pakistan, seen as positive in Tehran and Islamabad.

  • Trump warns of more military action if Iran doesn't uphold 'real' ceasefire deal, after disagreement over Lebanon truce status as part of deal.

  • Despite some last-minute shots in Lebanon by Israel, bombs go largely silent across Gulf and Middle East.

  • Hormuz Strait still effectively controlled by Iran: only a few vessels had passed on Wednesday. TASS reporting only 15 'vetted' tankers per day to be let through. Thursday sees first non-Iranian tanker pass since ceasefire.

//--> //--> Trump announces end of military operations against Iran by April 15th?
Yes 9% · No 92%
View full market & trade on Polymarket

*  *  *

Trump 'Optimistic' Iran Deal Within Reach, After 1st Non-Iranian Tanker Transits Hormuz Since Ceasefire

AFP has cited MarineTraffic monitor to report that the first non-Iranian tanker has transited the Strait of Hormuz since the ceasefire began.

Also per NBC, Trump says he is optimistic that an Iran peace deal is within reach, as Vance is set to head up the American side for Pakistan talks, scheduled for Saturday monring.

This marks the most direct signal yet from the US President himself that negotiations could have real momentum. He also told NBC that Tehran is "more agreeable than it shows in public." However, despite these 'positives' - the case of Israel-Lebanon fighting could derail a lasting peace:

Hezbollah MP says group rejects any direct talks between Lebanon, Israel

Bibi: We are Opening Direct Negotiations With Lebanon

Huge development per Axios:

Prime Minister Benjamin Netanyahu: In light of Lebanon's repeated calls to open direct negotiations with Israel, I instructed the Cabinet yesterday to open direct negotiations with Lebanon as soon as possible. The negotiations will focus on disarming Hezbollah and establishing peaceful relations between Israel and Lebanon. Israel appreciates the Lebanese Prime Minister's call today to evacuate Beirut

This after NBC News just reported that President Trump has requested that Israel reduce its bombing of Lebanon. There are some caveats: a senior Israeli official has said the negotiations will begin in the "coming days" and is not yet happening. Also, per Newsquawk (and via "Now 14"), the negotiations will take place "under fire" - meaning there could be continued strikes unleashed on Lebanon.

Oil dumps and stocks spike on the news...

15 'Vetted' Vessels Per Day To Be Allowed Through Hormuz: TASS

The Associated Press has emphasized Thursday, "Iran's approval system for ships granted safe passage - after vetting by the Islamic Revolutionary Guards Corps - remains unchanged despite US President Donald Trump’s demand for the strait to be reopened."

"Last week was the busiest week since the start of the war with 72 passages, still 90% below normal volumes, Lloyd’s said," the AP report continues. "Most of the vessels allowed through are connected to Iran, although some Indian vessels have gotten through with diplomatic intervention by the Indian government." There are currently few indicators revealing Iran's intent for what comes next, and it could be that much gets determined on whether Israel will cease its attacks on Lebanon. Tehran has threatened to renew its ballistic missile attacks of Israel's anti-Hezbollah actions and massive airstrikes on Beirut persist.

Russia, which is an ally of Iran, has in its media published Iranian sources saying that Iran will allow no more than 15 vessels per day through Hormuz. As for Iran's protocol for allowing passage, which reportedly could include up to a $2 million fee per vessel payable in cryptocurrency, Lloyd's list outlines the following on where things stand:

  • Vessels transiting the chokepoint must coordinate with the IRGC Navy
  • Iran's latest guidance explicitly warns of anti-ship mines in the main traffic zone of the strait
  • IRGC Navy continues to vet all traffic passing through the strait on the basis of geopolitical affiliation
Optimism: Bombs Largely Go Quiet

Asia One journalist Anas Mallick writes that "To my understanding, By tomorrow, first break of light, is when both delegations of US and Iran will be in Islamabad to hold talks."

There's some optimism regarding the US-Iran ceasefire holding, as it's been relatively quiet in the Middle East overnight into Thursday, despite Israel getting some final shots on Lebanon in. On this, Iran's president has made clear Tehran's position that Israel's renewed incursion into Lebanon and against Hezbollah violates the ceasefire, warning that these actions could make talks moot before they even begin.

Reuters observes, "Even as the U.S. and Iran seek to cement a ceasefire, Israel is seizing more territory from its neighbors in preparation for a long, drawn-out conflict across the Middle East. Israel's creation of 'buffer zones' in Gaza, Syria and now Lebanon reflects a strategic shift after the attacks of October 7, 2023, one that puts the country in a semi-permanent state of war."

Still, Gulf countries like the UAE have stated that no air threats have been detected or are inbound in the past hours, which is a rare positive development. There has been a decline in Iranian attacks across Arab states in the Persian Gulf region. Also, Israeli society has begun to return to normalcy, with emergency and shelter in place measures lifted across most parts of the country, and Ben Gurion airport in Tel Aviv having resumed operations as of midnight.

The reality of who actually controls the Hormuz Strait, told in one awkward WH press exchange:

Over 250 Killed In Lebanon on Single Day

But the reality remains that on Wednesday - the first day of the fragile ceasefire - a mere few tankers were allowed passage through the Strait of Hormuz before Iran shut down traffic again, citing the heavy Israeli attacks on Lebanon, which were the largest and deadliest of the war to date.

Sky News reports that at least 254 people were killed by the Israeli strikes across Lebanon on Wednesday, citing government health authorities. In Beirut alone, at least 91 people were killed, amid ongoing rescue efforts and treatment of the wounded in area hospitals. Over 1,000 Lebanese were wounded and injured. The Lebanese government has declared a day of mourning.

Trump To Renew Attacks if Tehran Fails in 'Real' Ceasefire Deal, Oil Rises

Meanwhile President Trump in a Truth Social message issued overnight says that "all US ships, aircraft, and military personnel" will remain in place around Iran until the "real agreement" on a ceasefire "is fully complied with" - warning of more US military action to come if not.

The renewed threats have pushed WTI back above $100...

Here's president Trump's full Truth Social statement wherein he warns that the shooting can start again "bigger, better, and stronger than anyone has ever seen before":

Iran's leadership has meanwhile been insistent on Lebanon being part of the Iran ceasefire, and has on this basis accused Washington of already violating at least three clauses of the ten point plan. It too has serious cards to play - especially while still de facto controlling Hormuz, and with the ability to renew attacks on energy sites in Gulf states.

Iran on Lebanon Violations: 'Choose War or Ceasefire, You Can't Have Both'

Iran's deputy foreign minister Saeed Khatibzadeh has told CBS News Israel's attacks on Lebanon Wednesday were "a grave violation" of the ceasefire agreement, and emphasized the US must choose "between war and ceasefire - you cannot have it both at the same time."

"You cannot ask for a ceasefire and then accept terms and conditions, accept areas the ceasefire is applied to, and name Lebanon, exactly Lebanon in that, and then your ally just start a massacre," Khatibzadeh said. 

Netanyahu's message has remained that Israel can strike Hezbollah whenever and "wherever" it chooses. "In Beirut, we eliminated Ali Youssef Kharshi, the personal secretary of Hezbollah terror organization Secretary-General Naim Qassem and one of the people closest to him. At the same time, overnight, the IDF struck a series of terror infrastructures in southern Lebanon: crossings used to transfer thousands of weapons, rockets, and launchers, as well as weapons depots, launchers, and Hezbollah headquarters," Netanyahu said.

"Our message is clear: Whoever acts against Israeli civilians will be struck. We will continue to strike Hezbollah wherever required, until we restore full security to the residents of the north."

Meanwhile, Israeli Foreign Minister Saar: "In the last 40 days, Hezbollah has fired approximately 6,500 missiles, rockets, and drones at Israel."

Pakistan Welcomes Vance Heading up US Delegation

WH Press Secretary Karoline Leavitt made clear Wednesday that Vice President JD Vance will head up talks for the US side in Pakistan, leading Jared Kushner and Steve Witkoff. Tehran had previously expressed its disdain for the latter two, accusing them of lying and being deceptive the first go-round before Iran suffered surprise US-Israeli attack. The pair are also accused of lacking technical know-how when it comes to talking about the nuclear issue.

Al Jazeera also freshly reports that the choice of Vance heading the US delegation is "being viewed very positively in Pakistan." Pakistan’s former Ambassador to the UN Maleeha Lodhi says, "Politicians know the art of the possible, and therefore I think it’s a good decision by the Trump administration to have Vance lead the talks."

Vance has stressed that Trump is "impatient to make progress" with Iran and warned that if Iranian officials don't engage in good faith "they're going to find out that President Trump is not one to mess around with." The US has clamed Iran 'begged' for ceasefire while Tehran insists it was the other way around.

More Geopolitical Headlines

via Newsquawk...

  • US President Donald Trump posted: "All U.S. Ships, Aircraft, and Military Personnel....will remain in place in, and around, Iran, until such time as the REAL AGREEMENT reached is fully complied with".
  • US President Donald Trump posted: "NATO WASN’T THERE WHEN WE NEEDED THEM, AND THEY WON’T BE THERE IF WE NEED THEM AGAIN. REMEMBER GREENLAND, THAT BIG, POORLY RUN, PIECE OF ICE!!!".
  • The Trump administration is considering a plan to penalize NATO members viewed as unhelpful during the Iran war by relocating US troops to more supportive countries, with potential base closures in Europe, including in Spain or Germany, according to WSJ.
  • NATO Secretary-General Mark Rutte told President Trump that most European nations provided support.
  • US officials stated they do not rule out resuming fighting in Iran and confirmed Trump will not offer major concessions to reopen the Strait of Hormuz, warning Iran’s demands could trigger renewed conflict.
  • Iran’s deputy foreign minister stated that the speaker of parliament will lead Iran’s delegation in upcoming talks, with communication continuing through Pakistan, according to Al Jazeera.
  • Iran’s ambassador to Pakistan stated the delegation will arrive in Islamabad on Thursday night for “serious talks” based on Iran’s 10-point proposal.
  • The IRGC Navy announced alternative shipping routes to bypass potential sea mines, according to ISNA.
  • The IRGC stated that shipping through the Strait of Hormuz slowed sharply and then stopped following what it described as an Israeli ceasefire violation in Lebanon, according to CNN.
  • Iranian lawmaker Ibrahim Azizi stated: "Once again, you have proven that you do not know the meaning of a ceasefire" and "Only fire will discipline you...so wait for it".
  • Saudi Arabia and Iran discussed de-escalation during a call, according to SPA.
  • A Pakistani Foreign Ministry source indicated the US has backed away from including Lebanon in the ceasefire with Iran, according to Al Arabiya.
  • Israeli Prime Minister Benjamin Netanyahu stated Israel will continue striking Hezbollah, with the IDF targeting infrastructure in southern Lebanon overnight.
  • Israel’s Ministry of Energy ordered the resumption of operations at the Karish gas platform after a shutdown during the war, according to Channel 12.
  • Hezbollah stated its attacks on Israel will continue until aggression stops and launched rockets citing ceasefire violations, according to Fars News Agency.
  • A missile was fired from Lebanon into northern Israel, according to Fars News Agency.
  • Israeli strikes in Lebanon continued despite the ceasefire with Iran, according to Anadolu Agency.
  • French President Emmanuel Macron spoke with Iran’s President Masoud Pezeshkian and US President Donald Trump, stating their decision to accept the ceasefire was the best course of action.
  • Russia launched 119 drones at Ukraine overnight, according to Ukrainian media.

* * *

Tyler Durden Thu, 04/09/2026 - 13:20

GOP Blocks Congressional Democrats Attempt At Iran War Powers Vote

Zero Hedge -

GOP Blocks Congressional Democrats Attempt At Iran War Powers Vote

(Update 1245ET): House Republicans thwarted Democrats’ attempt to unanimously restrict President Donald Trump’s war powers in Iran, declining to recognize the lawmaker who sought to offer it during a pro forma session Thursday.

As Bloomberg reports, the forced-adoption attempt was destined to fail, but it previewed Democrats’ focus on rebuking the war in Iran when the chamber returns to session next week. Rep. Glenn Ivey (D-Md.) asked for unanimous consent to advance the Iran war powers resolution during a pro forma, or ceremonial, session held during the congressional recess.

Rep. Chris Smith (R-N.J.), who was presiding, didn’t acknowledge Ivey to speak.

Democrats can try to force a full House vote on the resolution next week when lawmakers return to Washington.

At least two of the four members of their party who opposed a similar resolution a month ago have said they plan to support it now.

*  *  *

As Nathan Worcester detailed earlier via The Epoch TimesCongressional Democrats will try to place guardrails on the Iran war when the floor is briefly open during a two-week break for Easter.

House Minority Leader Hakeem Jeffries (D-N.Y.) speaks during a press conferece on Capitol Hill in Washington on Feb. 9, 2026. Madalina Kilroy/The Epoch Times

House Minority Leader Hakeem Jeffries (D-N.Y.) detailed his intentions in an April 8 letter to colleagues.

During an April 9 session that would normally be a formality, Democrats will seek to advance a War Powers Resolution on Iran through unanimous consent. It’s a maneuver that House Republicans can easily block.

Senate Minority Leader Chuck Schumer (D-N.Y.) also announced that the Senate would take a vote on a War Powers Resolution related to Iran.

The War Powers Act will cease hostilities and require the administration to get an AUMF before going to war after the hostilities cease,” Schumer said of the proposal.

The Democrats’ calls to pursue votes for restricting the president’s war powers come a day after President Donald Trump announced he was suspending attacks in Operation Epic Fury, on the condition that Iran reopens the Hormuz Strait to unimpeded maritime traffic.

Multiple parties have accused one another of violating the two-week ceasefire. Pakistani Prime Minister Shehbaz Sharif, whose country helped mediate the brief interruption in fighting, has called on the combatant nations “to exercise restraint and respect the ceasefire for two weeks.”

In his April 8 letter, Jeffries described the present ceasefire as “woefully insufficient.”

“We have demanded that the House come back into session immediately in order to vote on our resolution to permanently end the war in the Middle East,” he wrote.

A War Powers Resolution would mandate congressional authorization of U.S. involvement in the war.

A previous attempt to constrain the president’s actions failed in the House on March 5.

Almost all Republicans opposed that resolution, which drew the support of all but four Democrats in the lower chamber.

The Senate equivalent was shot down on March 4. That vote also mostly fell along party lines. Sen. Rand Paul (R-Ky.) broke with his party to support the measure, while Sen. John Fetterman (D-Pa.) crossed the aisle to oppose it.

Ongoing two-week breaks in the House and Senate have been punctuated by pro-forma sessions. Those brief assemblies of only a few members are held as a formality so the chambers technically remain in session.

On the Senate side, the meetings keep the individual breaks short enough that the president cannot make recess appointments.

The sessions are also how lawmakers avoid adjourning for longer than three days. Under Article I of the Constitution, anything longer would take an agreement between the House and Senate.

The Easter break of 2026 has already witnessed some minor drama during sessions where little is typically expected to happen.

Earlier in April, the House did not take up a Senate-passed bill that would partly fund the Department of Homeland Security (DHS).

Some Republicans have resisted the DHS deal, which excludes immigration enforcement and border funding.

House and Senate Republican leaders have vowed to fund those areas for multiple years through a separate, party-line budget vote.

Joseph Lord contributed to this report.

Tyler Durden Thu, 04/09/2026 - 12:45

White House Says Cuban Regime Is "Bound To Fall"

Zero Hedge -

White House Says Cuban Regime Is "Bound To Fall"

Authored by Travis Gillmore via The Epoch Times,

White House press secretary Karoline Leavitt addressed the situation in Cuba, where the population of nearly 10 million are impacted by rolling blackouts and instability, during a press briefing April 8.

She further clarified President Donald Trump’s recent statement that “Cuba is next,” after the U.S. military successfully detained former Venezuelan President Nicolás Maduro and his wife Cilia Flores Maduro before striking Iran in coordination with Israel.

“I think when President Trump said that and he later clarified after making that statement that he meant the Cuban regime is bound to fall,” Leavitt said in response to a question from The Epoch Times.

“The country is very weak. They’re in a very weak position economically, obviously, and financially.”

Cuba relied on Venezuela for much of its energy resources, but that supply dried up after the United States took control of the region’s oil industry following Maduro’s capture. A fuel crisis is threatening the nation, with scarce resources available, and nationwide power outages affecting homes and businesses.

Outdated energy infrastructure and a failure to maintain electricity grids are contributing to hardships, according to the U.S. State Department.

“The Cuban people are fed up with their government, as they should be,” Leavitt said.

She offered no policy updates but said administration officials are collaborating across departments to identify diplomatic solutions.

“These talks and discussions continue to happen at the highest level of our government,” Leavitt said.

Cuba has faced embargos and economic pressure from the United States since Fidel Castro led a communist revolution in 1959 toppled Fulgencio Batista, who led the island nation with U.S. support after taking power through a coup in 1952.

President Barack Obama eased some sanctions in a normalization process, but Trump began reversing those policies during his first term.

Since taking office for a second time, Trump has ramped up criticism against the Cuban regime.

Trump told an audience at the Future Investment Initiative Institute in Miami on March 27 that his peace through strength approach is built on a “great military,” while economic leverage and tough negotiating strategies can facilitate change without the use of force.

“I said, you'll never have to use it, but sometimes you have to use it, and Cuba’s next, by the way,” Trump said, while adding the line might be a joke. “But, pretend I didn’t say that please. ... Please, please, please media, please disregard that statement. Thank you very much. Cuba’s next.

In an executive order signed Jan. 29, 2026, the president described the Cuban government’s actions as constituting an “unusual and extraordinary threat.”

The order cites Cuba’s support for and alignment with hostile nations, including China, Iran, and Russia, along with the terrorist groups Hamas and Hezbollah, as evidence of the threat.

“Cuba has long provided defense, intelligence, and security assistance to adversaries in the Western Hemisphere, attempting to thwart United States and international sanctions designed to enforce the stability of the region, uphold the rule of law, and safeguard the national security and foreign policy of the United States,” the order reads.

Furthermore, the executive order states the Cuban government is spreading communist ideology across the Western Hemisphere, “threatening the foreign policy of the United States.”

“The communist regime persecutes and tortures its political opponents; denies the Cuban people free speech and press; corruptly profits from their misery; and commits other human-rights violations,” the order states.

U.S. Secretary of State Marco Rubio called for regime change in Cuba while reiterating concerns about communism during remarks to the media on March 27.

“The only thing worse than a communist is an incompetent communist,” Rubio said. “So, their system of government has to change, because they will never be able to develop economically without those changes.”

Tyler Durden Thu, 04/09/2026 - 12:25

New Jersey Governor Sherrill Lifts 40-Year Nuclear Moratorium

Zero Hedge -

New Jersey Governor Sherrill Lifts 40-Year Nuclear Moratorium

Governor Mikie Sherrill signed legislation that scraps New Jersey’s 40-year de facto moratorium on new nuclear power plants, clearing the way for expanded baseload generation in a state long plagued by some of the nation’s highest utility bills. 

The bill, S3870/A4528, amends the Coastal Area Facility Review Act to remove an outdated permitting roadblock tied to Nuclear Regulatory Commission waste-disposal rules that no modern project could satisfy.

The NJ Department of Environmental Protection can now approve permits based on proven, NRC-compliant storage methods that have maintained a 100% safety record.

Speaking after a tour of the Salem Nuclear Power Plant, Sherrill launched the state’s new Nuclear Task Force by executive order.

The group, which includes officials from PSEG Nuclear, labor unions, business groups, and environmental stakeholders, will focus on five priorities: financing, supply chains and technology, workforce development, regulatory streamlining, and public trust. 

For costs to come down, we need more energy supply,” Gov Sherrill said.

“By lifting outdated barriers and bringing together leaders across government, industry, and labor, we’re setting the stage for our state to pursue new advanced nuclear power.”

Existing reactors at Salem and Hope Creek already supply more than 40 percent of the state’s electricity and roughly 80 percent of its pollution-free power.

A 2020 Brattle Group analysis found those plants save ratepayers more than $400 million annually while running at 90-95 percent capacity on just 740 combined acres.

Tyler Durden Thu, 04/09/2026 - 12:05

David Pogue’s Apple Book

The Big Picture -

Apple: The First 50 Years

1. To tell you the truth, I finished this book almost a week ago, and I forgot most of what I wanted to say about it. Primarily the business insights.

Not that I don’t remember the facts. Not that I haven’t internalized the messages.

In any event, this book is not for casual fans, casual readers. If you came to the Mac after Steve Jobs returned or later, you probably won’t get far in this tome. But if you were there at the beginning…

I was not. At the very beginning. Because it was all about the Apple II.

And that lore is repeated here, the creation of the Apple I, the Apple II team’s frustration that it was considered a second class citizen whilst generating all the profits, keeping the company alive well into the Macintosh era.

But I came in in 1986. With the Mac Plus…

The original Mac was close to unusable, it only had 128kb of RAM…

Now let me see… This machine I’m running has 48 GIGS of RAM. 128kb was infinitesimal. Months later came the Fat Mac, with 512kb, but the Mac Plus had a gig of RAM. However you still had to swap floppies. The screen was still small and black and white. But if you bought in, it was a religion. Like being a fan of your favorite band, but deeper. Maybe because you were there early, you were intrigued, and you knew these machines would change the world.

Computers were not rare in 1986, but most of them were PCs…which really didn’t have an effective Windows interface until 1995. In other words, they were not very usable. They were business tools.

But what really blew up computing was AOL. Didn’t matter what platform you were on, they all worked with AOL…and people ran out and bought computers just to play.

But that was almost thirty years ago. Do today’s generations, many birthed in this century, know this?

No, just like we couldn’t fathom the introduction of television in our parents’ era.

Anyway, I had no allegiance to Apple. All I knew was I wanted to start a newsletter and needed a computer to do so. And it didn’t take much research to find out I needed a Mac, with PageMaker, and a LaserWriter.

This was a different era, not quite the hobbyist era, but the machines were not foolproof, unlike your iPad and iPhone. Not only did they crash, they might not reboot. The Mac wasn’t truly user-friendly for everybody until the introduction of Mac OS X, based on Unix with the Mach kernel.

Not that you need to know that, not that today you need to know how your car runs. But for almost all of my life, you had to have a rudimentary knowledge of how your automobile functioned, because it would break! Computers were even worse, although they rarely physically broke, they just stopped working.

And you had to figure out why.

That’s right, there was no Genius Bar, really very little tech help at all. You had to sit in front of the computer and figure out what was wrong, and it could take you hours…I found it nearly impossible to fall asleep until I’d solved the problem, gotten my computer back on the right track.

Needless to say, those are not these days.

2 So forty years ago…

Not only was there no internet, techies were considered nerds, geeks, they were not respected by the hoi polloi, who were infatuated by MTV. But once you got bitten…

I used to say it was like having a math problem on my desk. Only there was no test, I wasn’t graded, but when I figured it out the level of satisfaction…

And what the Macintosh could do, and what the PC could not!

So if you were around in those days, you’ll be intrigued, you will be riveted, because Pogue brings it all back. The system updates, which you had to go to the store at first to get. The step by step innovation. The dark years and then the renaissance.

Now this is not the first time this territory has been covered, but it has never been covered so well, because David Pogue is one of our own, he’s not only writing about the Mac, he LIVED the Mac!

The best books ever about the Mac and Mac products were authored by Pogue, and I used to buy the “Missing Manual”s and read them cover to cover. You’d be stunned how powerful these machines are, most only use a tiny faction of their ability.

And the software too.

I read all the manuals, also from cover to cover.

Do you know if you double-click the top of your window, it will shrink it down to the dock? I could list tons of tips, but most are not used and not cared about. It’s almost an insider’s game. But…

Those early days, do you remember Conflict Catcher?

All the breakthroughs and bumps in the road are catalogued by Pogue. In an upfront, breezy style. He makes Walter Isaacson’s Steve Jobs look like the doorstep it is. Content is secondary to readability, and Pogue is very readable. And as much as he knows to leave in, he’s not afraid of leaving a bit out. It’s a book. Made to be read from start to finish. If you do so, you’ll know Apple’s history.

But how many people need to know this?

3

Apple was the little engine that could. The true breakthrough was the iPod.

But before that, during Jobs’s hejira with NeXT…

The problem with Sculley was he was a marketer, of a completely different product. Pepsi could sit on the shelves for a while. Computers lost value every day they were held in inventory.

Also, Sculley was a publicity hog, who wrote a book and liked being perceived as a visionary, even though he was not. We see this story again and again, do not believe the hype. Which is easy to garner. Can you say “Theranos”? No, the true people to admire are those who are doing the work, whose names are out there, but oftentimes say no to press, it slows them down, never mind that the press always gets it wrong, ALWAYS! Because unlike Pogue, most writers are not familiar with the territory.

Was Jobs a terror?

Yes.

And he was milder when he came back.

But he had a vision, and he didn’t believe in consumer research. He was about the bleeding edge. A lot of this has been documented, which is why the second half of the book is less interesting.

As for Tim Cook and the players in power today…

Yes, the petty wars are delineated, but the real point is they are not superstars, they are not visionaries, those only come along once in a while.

Like a classic musician, Jobs is focused on getting it right, in a world where everybody is taught to compromise to get along, where no one wants to stand out, upset the apple cart. Jobs focuses on product, believing the rest will take care of itself.

And prior to his return and their replacement, those who sat on the board saw Apple as a traditional business. They wanted to sell it, before it cratered, before Jobs came back and reinvigorated it.

Now I remember one of the lessons I wanted to impart… Don’t underestimate expertise. We see this all the time in the music business, since you don’t need a degree to be in it, no one has any respect for those who work in it. Average citizens believe they can find talent, they can do ticketing. But again and again outsiders fail, because the expertise cannot be quantified, it is built over time, it’s something you feel, it’s something innate. Even as simple as picking the hits. I’d say at least ninety percent of what people e-mail me, saying it’s great and deserves further attention, does not. I’m not saying they can’t like it, but they don’t have the seasoning and the vision to know what will spread to the public.

But it’s not only in music, in politics people have contempt for expertise. There’s this belief everybody can do everything. Then why did it take Steve Jobs to come up with the iPod and iPhone?

Breaking rules all the while. Getting rid of legacy ports on computers, getting rid of the physical keyboard on the iPhone. People are attached to the past, and if you’re busy serving them you’re going to be left behind. Jobs knew the iPhone was going to destroy the iPod, but rather than keep the music player alive, Jobs insisted on pushing the envelope, he was not willing to rest on his laurels, giving competitors a window to leapfrog Apple.

Hell, me-too is everywhere. When was the last time you heard a successful record that was truly surprising, completely different? Labels don’t sign those acts anymore, it’s too heavy a lift. They want it easy. Just like the movie studios, whose lunch was eaten by Netflix. Let me see… You raise the prices, you make fewer movies in obvious genres and then you complain that the theatre experience is dying? Believe me, people will show up for something unique and different. Then again, something might have to percolate in the marketplace for a while to catch on, but these flicks play in theatres for a minute and are then available on TV, which is a better experience.

User experience. That was Jobs’s main focus. But in most avenues of life, this is denied. Purveyors are trying to whittle down and control human behavior, keep it in the past, which is a fool’s errand.

4

The press is all over Apple’s 50th.

But it’s kind of like a lifetime achievement award… Once you get that, you’re usually done.

I get a new iPhone every year. But recently, the changes have been miniscule, almost irrelevant.

Apple is making a ton of money on services, and maybe the days of hardware breakthroughs are done, then again, the days of tech wowing us died over a decade ago, now tech is the enemy.

But the story of going from Motorola to Intel to in-house chips… Once again, the company is always thinking about the future, whereas in entertainment, everybody seems to be constantly blind-sided. Kind of like George Bush and 9-11. Who could envision they’d fly planes into buildings?

Then again, entertainment executives are all about lifestyle, accumulating and displaying. The company is something to milk.

Oh, I just remembered another thing that struck me… This happened again and again, but foremost with the original Macintosh team.

Yes, Jobs asked for the theoretically unachievable, which they always delivered, but once the Mac was released…most of the members of the team were so burned out, they couldn’t work for months, if ever at this level again. Most left Apple. None set the world on fire once again. They’d been to the mountaintop, they’d experienced the ride and the rewards, they just weren’t up for doing it again, like a hit act that cannot create hits anymore.

There are a lot of lessons in Pogue’s book. Not that he bats you over the head with them. But almost no one is going to read this book. They might buy it, but the average punter just doesn’t care about the minutiae of tech, the history of creation. Kind of like cars. You may love Mercedes-Benz, Ferrari, but how many people want to go back seventy or a hundred years and hear about the arguments and decisions regarding what kind of engines and suspensions to use, the failures…

However, the thing about Apple is unlike any single car brand, unlike any musician, period, the company’s products and services touch a broad swath of the public. Sure, Android might be bigger internationally, but all the innovation is on the iPhone first, which has over fifty percent market share in the U.S.

And now with the MacBook Neo, Macs are no longer expensive. The last hurdle has been eliminated, you can enter the cult on the cheap.

And once you do…

You get locked in.

And the love for Apple sustains. This is not a musical act or TV show that ultimately peters out. We expect Apple to continue to deliver, to lead us into the future.

Did it miss AI?

I’m not even gonna get into it. Could be their philosophy of licensing turns out to be the best.

But one thing is for sure, Apple is not a one trick pony. So many use their products and they think they know what goes on inside the gold mine. In truth they don’t. And, in truth, they don’t really care that much, they have no need to know.

But if you do…

P.S. Don’t buy the e-book unless you’re going to read it on an iPad… There are numerous color photos.

 

~~~

Visit the archive:   http://lefsetz.com/wordpress/

@Lefsetz  http://www.twitter.com/lefsetz

If you would like to subscribe to the LefsetzLetter

~~~

Originally published by Bob Lefsetz at the Leftsetz Letter

The post David Pogue’s Apple Book appeared first on The Big Picture.

FBI Arrests Former Army Contractor For Allegedly Leaking Top Secret Details About Special Forces To Media

Zero Hedge -

FBI Arrests Former Army Contractor For Allegedly Leaking Top Secret Details About Special Forces To Media

Authored by Jill McLaughlin via The Epoch Times,

The FBI arrested a former Fort Bragg civilian contractor April 7 for allegedly providing top secret details about the Delta Force special forces unit to a journalist who later published the information in an article and book.

Courtney Williams, 40, of Wagram, North Carolina, was indicted by a federal grand jury and charged with violating the Espionage Act in connection to the alleged transmission of classified national defense information to the journalist in violation of federal law.

“Let this serve as a message to any would-be leakers: we’re working these cases, and we’re making arrests,” FBI Director Kash Patel posted on X.

“This FBI will not tolerate those who seek to betray our country and put Americans in harm’s way.”

Officials say Williams worked for a Special Military Unit from 2010 to 2016 supporting top-level military warfighters. During that time, she held a top secret, sensitive compartmented information security clearance, according to prosecutors.

Williams allegedly had daily access to a wide range of classified information, according to the U.S. Department of Justice.

As a clearance holder, Williams was trained to know about proper handling, safeguarding, and storage of classified information, prosecutors said. She also allegedly signed a nondisclosure agreement that confirmed she understood that disclosing it could constitute a criminal offense.

Investigators allege Williams repeatedly communicated with a journalist by phone and through text messages between 2022 and 2025. The two had over 10 hours of phone calls and exchanged more than 180 messages, according to prosecutors.

In one message, the reporter identified himself as a journalist and said he was seeking information about the unit to support an upcoming article and book, according to prosecutors.

After the communications, the journalist published a book and article that named Williams as a source and attributed specific statements to her, per court documents.

Prosecutors didn’t name the journalist in the complaint, but Seth Harp, an investigative reporter and foreign correspondent, published a Politico article on Williams on Aug. 12, 2025.

The article was an excerpt from his New York Times best-selling book, “The Fort Bragg Cartel: Drug Trafficking and Murder in the Special Forces.”

Harp didn’t immediately return a request for comment about Williams’s arrest but posted statements about it on X.

“The FBI is incapable of solving real crimes, like all the murders on Fort Bragg involving elite soldiers trafficking drugs, so they settle for retaliating against courageous whistleblowers like Courtney Williams, whose only ‘crime’ was telling the truth about Delta Force,” Harp wrote.

The article names Williams and describes her decision to take a job as a contractor at Fort Bragg after ending a four-year enlistment in the Army, where she had served as an interrogator and Arabic linguist.

Her position in Southern Pines, North Carolina, was in mission support and was run by former members of Delta Force, the Army’s component of Joint Special Operations Command. Williams told Harp the job was to create and maintain fictitious cover identities for Delta Force operators to use on clandestine missions.

She also described her grievances about the unit, claiming she was discriminated against and sexually harassed. She lost her security clearance after a dispute with leadership in 2016, according to the article.

Williams and her husband allegedly burned through their savings defending herself in the dispute before settling with the unit’s lawyers and retiring from the position, she told Harp.

FBI Special Agent in Charge of the North Carolina Field Office Reid Davis said Williams faced serious charges.

“The tradecraft, tactics, and techniques used by the U.S. military unit in this case are classified and should be shared only with those with proper clearances and a need to know in order to protect American lives and safeguard classified National Defense information,” Davis said in a press release.

“These are serious accusations. Anyone divulging information they vowed to protect to a reporter for publication is reckless, self-serving and damages our nation’s security.”

Williams was not reachable for comment.

Tyler Durden Thu, 04/09/2026 - 11:45

South Beirut Sees Mass Exodus Amid Diplomatic Scramble To Ward Off Israeli Raids

Zero Hedge -

South Beirut Sees Mass Exodus Amid Diplomatic Scramble To Ward Off Israeli Raids

Israel has on Thursday warned civilians in south Beirut to evacuate their homes and neighborhoods, amid fears of a fresh impending aerial assault, after IDF strikes across Lebanon and the capital the day prior led to at least 250 Lebanese deaths and over 1,400 people wounded. These were the heaviest strikes of the war.

"Just a short while ago, the Israeli military issued new forced evacuation orders, warning of air strikes this time for the southern suburbs, expanding the area where it says strikes may be conducted, including the Jnah neighborhood, which is south of a previously evacuated area," Al Jazeera reports. Panic and a mass exodus is being reported:

The effected area is densely populated with civilians and lies adjacent to Beirut's lone international airport. People who fled Wednesday's strikes on central Beirut in some places came to the Jnah area.

If Israeli bombs on Lebanon start flying again, this could re-trigger Iranian attacks on Israel. The Houthis in Yemen have also threatened to act, and all of this could collapse the fragile US-Iran ceasefire, amid impending talks expected to begin in Pakistan on Saturday.

Hezbollah now says it is engaged in ground clashes with the Israeli military in southern Lebanon’s Bint Jbeil area, per Al Jazeera, which lies a mere 3 miles from the Israeli border. Israel is seeking to de facto annex the area, Lebanon believes.

Israel's Defense Minister Israel Katz has meanwhile stated the operations have dealt a "very strong blow to Hezbollah's face, leaving it stunned and confused by the depth of the penetration and the scope of the blow." Meanwhile:

TRUMP ASKED NETANYAHU TO REDUCE BOMBING IN LEBANON TO AID SUCCESSFUL IRAN NEGOTIATIONS, ACCORDING TO NBC REPORTS.

Referencing hundreds of ballistic missiles which were sent on Israel in the last weeks, Katz said the IDF is "prepared and ready to act forcefully if Iran fires at Israel." Hezbollah had also by mid-March joined the fight.

via UPI

Currently, Lebanese hospitals are said to be overwhelmed while treating victims of the latest Israeli air raids, and are said to be in short supply, also seeking blood donations.

Reuters details, "Some of Lebanon's hospitals could run out of life-saving trauma medical kits within days ​as supplies near depletion following mass casualties from large-scale Israeli strikes over ‌the past day, the World Health Organization said on Thursday." The WHO outlined that "The life-saving trauma kits include bandages, antibiotics and anaesthetics to treat patients who sustained war-related injuries."

Tyler Durden Thu, 04/09/2026 - 11:35

CoreWeave Expands Meta AI Deal To $21 Billion, Issues $4.25 Billion In New Convertible & Junk Debt

Zero Hedge -

CoreWeave Expands Meta AI Deal To $21 Billion, Issues $4.25 Billion In New Convertible & Junk Debt

CoreWeave has expanded its agreement to supply Meta with AI computing capacity, lifting the total value of the deal to $21 billion, as reported by Bloomberg. The updated terms extend AI cloud services through December 2032.

This means that circular financing circle jerk we've been tracking since last year continues.

This builds directly on the $14.2 billion pact the companies struck last September, which originally ran through 2031 with an option for extension. The additional capacity will come from multiple data centers equipped in part with Nvidia's next-generation Rubin AI chip systems.

The move gives Meta more assured access to specialized GPU clusters as it scales training and inference workloads for its expanding lineup of large language models.

It also means that CoreWeave now holds $35 billion in contracts with Meta, a firm that has made SPV private credit financing into an art form, making the tech firm one of Coreweave's largest customers.

CoreWeave will provide AI cloud capacity to Meta from multiple data centers powered in part by the Rubin systems of chips, through December 2032, the company said in a statement Thursday. 

As billion-dollar commitments have become almost routine, this latest expansion offers another glimpse into the staggering sums being funneled into AI infrastructure. Meta and the rest of the hyperscalers continue to chase AI dominance, committing vast resources even as it pours money into its own massive data center buildout. The numbers keep climbing with seemingly no ceiling in sight.

CoreWeave, a cash-incinerating provider of GPU-accelerated cloud computing and a longtime Nvidia investment darling, has carved out a lucrative niche in the frenzy. The company - part of a group of “neoclouds” or  businesses that, among other things, rent out access to leading AI chips - has landed nearly every big ticket name from Microsoft to OpenAI, positioning itself as an alternative to the traditional hyperscalers for the most demanding AI jobs. Its backlog of long-term contracts continues to swell, supporting rapid expansion even as the broader market watches the leverage closely. Nebius and Nscale are some of its smaller rivals.

CoreWeave has dramatically ramped up borrowing in recent years to finance deals in which it rents access to high-end artificial intelligence processors, joining an industrywide debt binge that has unsettled some investors. CoreWeave has turned to multiple financing channels to fund the capital-intensive expansion needed to keep pace with the AI boom.

And just in case its already massive debt load - at last check around $30 billion, triple what it was a year earlier - wasn't enough, CoreWeave separately said it plans to offer $3 billion in convertible senior notes due 2032 and $1.25 billion in senior notes due 2031 to cover general business including the repayment of outstanding debt.

The company is offering a 1.5% to 2% coupon on the latest $3 billion in bonds that investors can choose to convert into stock later at a premium, Bloomberg reported on Thursday, citing people familiar with the situation. Coreweave is also tapping the junk-bond market for the $1.25 billion in notes, offering just above 10% on the deal that may be sold as soon as Thursday, according to a person with knowledge of the matter.

In February, the company was seeking to raise about $8.5 billion from banks including Morgan Stanley and Mitsubishi UFJ Financial Group Inc. to help finance its buildout of cloud computing capacity for Meta, Bloomberg reported at the time. 

Meanwhile, Meta has emerged as one of the top spenders on AI infrastructure. CEO Mark Zuckerberg is planning to drop hundreds of billions of dollars over the next few years on the energy, computing power and talent needed to build, train and run AI models. In its latest earnings call, Meta raised its 2026 capex projections to $115-$135 billion, nearly doubling its 2025 capex spend. 

Earlier this year we noted Nvidia's additional $2 billion investment in the firm to speed construction of new AI factories, and the company's revenue forecast adjustments last fall amid shifting contract timing. CoreWeave also carries roughly $21 billion in debt, a figure that coincidentally matches the scale of its enlarged Meta pact.

The deal underscores a broader truth in the current cycle: hyperscalers are willing to lock in enormous, multi-year contracts to guarantee scarce high-performance computing resources. Nvidia itself has repeatedly highlighted the exponential growth in demand, and contracts of this size keep materializing to feed it. 
 

Tyler Durden Thu, 04/09/2026 - 11:25

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