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A Google Veteran Who Founded Character.AI Is Jumping to OpenAI

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A Google Veteran Who Founded Character.AI Is Jumping to OpenAI


Noam Shazeer, a co-lead at Gemini and the founder of Character.AI is leaving Google to join OpenAI in the latest AI talent war move.

In an X post on Wednesday, Shazeer announced his departure and said he looks forward to working with the “exceptional team” at the ChatGPT maker.

“It was a difficult decision to move on. I’m incredibly proud of the amazing team at Google and everything we’ve built together,” Shazeer wrote. “It has been an honor and a pleasure to work with all of you.”

In a Wednesday X post, OpenAI CEO Sam Altman said Shazeer “is one of the people I have most wanted to work with since the very beginning of openai.”

The Gemini co-lead joined Google in 2000 and stayed with the company, aside from a three-year period when he left to cofound the chatbot-building startup Character.AI. In 2024, the search giant rehired the founders and paid for non-exclusive rights to use the startup’s technology. Character.AI remains a separate legal entity.

In 2024, The Wall Street Journal reported that Google paid Character.AI $2.7 billion for a special deal that gave Google access to the startup’s technology, and an agreement that Shazeer would have to work for Google again.

Shazeer was a key part of Google’s early AI development efforts. A 2017 paper he coauthored is largely seen as the kickstarter to present-day large language models.

Shazeer’s move to the IPO-bound company is the latest in a series of top-talent reshuffles at AI heavyweights. Labs, including OpenAI, Google, Meta, and Anthropic, are offering top researchers and engineers enormous pay packages and devising complex acqui-hire deals to incentivize them to make the jump.





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FIFA wanted Avalanche’s blockchain to help curb World Cup ticket scalping. Here’s how it’s going

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FIFA wanted Avalanche's blockchain to help curb World Cup ticket scalping. Here's how it's going

Beyond new revenue opportunities, the model gives FIFA more visibility into who ultimately attends its events. In the traditional ticketing ecosystem, much of that information is controlled by secondary marketplaces.

“The actual administrator of those tickets, FIFA, has no idea who the people are buying,” Carbonaro said. “That data sits with SeatGeek, StubHub, Ticketmaster, Vivid Seats.” He argued that FIFA Collect’s RTB and RTT system gives FIFA greater insight into how ticket rights change hands within its own ecosystem, rather than relying on third-party platforms that typically control the customer relationship.

With RTBs and RTTs, FIFA can better track how fans move through the ticketing process while keeping personal information offchain and using blockchain records as a verification mechanism.

That data component may ultimately prove as valuable as the ticketing functionality itself. Sports organizations increasingly view direct fan relationships as strategic assets, particularly as AI tools make first-party data more valuable.

Whether FIFA’s ticketing model becomes a template for future tournaments remains to be seen. Critics could argue that introducing tradable purchase rights simply creates another layer between fans and tickets.

Either way, the World Cup offers a glimpse of where blockchain adoption may be heading next. Instead of asking consumers to embrace crypto, projects like FIFA Collect are attempting to hide it altogether. And for Avalanche, that may be the most important test of all.



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Anthropic IPO: What to know before you buy the stock

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Anthropic IPO: What to know before you buy the stock


Anthropic, the AI research company behind Claude, will soon join a crowded race to market alongside SpaceX, which began trading on June 12, and OpenAI, which hasn’t announced its market opening date. 

Anthropic confidentially filed with the Securities and Exchange Commission one week before OpenAI, but the race is on to be the first to come to market. “The proposed initial public offering will depend on market conditions and other factors,” the company said in a statement.

With the latest private funding round of $65 billion, valuing the company at $965 billion, Anthropic is widely expected to achieve an IPO valuation of $1 trillion or more, in line with OpenAI’s expectations but far short of SpaceX’s valuation of more than $2 trillion. 

How can you get in on the IPO? We will update this article as new information becomes available, but in the meantime, here’s what you need to know.  

Read more: Create a stock-investing strategy in 3 steps

1. Watch for more details in Anthropic’s S-1 filing

The financial details of the SEC filing for an initial public offering will be released at least 15 days before a company’s roadshow — its pitch to institutional investors. That could be weeks or months, depending on when Anthropic aims to launch its IPO. 

Once it’s public, investors will likely be able to see key financial metrics, including revenue, losses, user data, growth trajectory, and risk factors.

2. Claude trails ChatGPT and Gemini, but competition is growing

Anthropic’s AI tool, Claude, was released in 2023, a few months after OpenAI’s ChatGPT, and has since grown into a widely used alternative.

ChatGPT has maintained its lead in the space, with a 50% share of website visits among leading AI platforms in March 2026. However, that’s down from 66% in July 2025, according to market intelligence firm Sensor Tower. 

Google’s Gemini had a 22% share in March, while Claude had 10% of the market.

Read more: OpenAI IPO: 6 things to know before you buy the stock

3. Anthropic says Claude ‘builds itself’

Anthropic says that AI skills are improving at an astounding rate. The company estimates that the number of tasks AI can reliably complete on its own is doubling about every four months. 

The company said that Claude can now be handed an underspecified engineering problem and figure out how to solve it, matching or outperforming human cognitive abilities, according to a recent blog post entitled “When AI builds itself.”

However, the company says that “if it were possible to effectively slow the development of this technology to give ourselves more time to deal with its immense implications, we think that would likely be a good thing,” but also notes that it could allow others to catch up, leaving everyone less safe.

4. Anthropic CEO has called for stronger AI oversight

CEO Dario Amodei recently issued a plea for government regulation, warning of “the very real risks” that AI poses to cybersecurity. He noted “the potential for disruption of the financial sector, critical infrastructure, and national security,” and even “biological risks” are possible. He referenced the “When AI builds itself” thesis noted above as evidence.

He recommended serious and binding regulation of AI. 

“I believe the best analogy, at least at the current stage of the exponential, is to cars, airplanes, or drugs — powerful technologies essential to the modern economy, but capable of killing large numbers of people if designed or operated poorly.”

Amodei added that even more stringent oversight may be necessary, perhaps soon, “when the most powerful AI systems look less like airplanes or automobiles and more like weaponizable nuclear materials — a threat to humanity rather than ‘just’ a threat to public safety.”

Anthropic is currently meeting with the Trump administration regarding its latest AI models, Fable 5 and Mythos 5, following a government directive to disable access.

5. How the Anthropic IPO investor process could work

The brokerage firms that will be allocated Anthropic IPO shares for retail investors have not yet been announced. When they are, we will update this article with that information and also include any investor requirements (such as minimum account balance) that each brokerage stipulates. 

In the meantime, the process generally works as follows:

  • You will complete an investor profile. 

  • A prospectus will be made available, including a company profile and details of the stock offering.

  • You will place a conditional offer (an “indication of interest”) specifying the number of shares you wish to purchase (typically with a minimum of 100 shares) and the maximum price you are willing to pay per share. This does not guarantee you will be allocated shares.

  • You will want to ensure you have sufficient cash in your investment account to cover the cost of the stock purchase. 

You will learn if you are allocated any shares the night before or early on the morning of the IPO.  

See related: SpaceX IPO: Last-minute strategies on how you can invest



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Bitcoin price prediction – How high can the U.S.-Iran peace deal push it?

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moneyvests
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Bitcoin price prediction - How high can the U.S.-Iran peace deal push it?


The two-day meeting of the U.S. Federal Reserve’s open market committee (FOMC) will conclude on the 17th of June. The Fed’s new chair, Kevin Warsh, will make the rate-related decision on the same day.

The FedWatch Tool showed that the market has all but decided that the Fed would hold the interest rate steady at 3.50%-3.75%. Some short-term Bitcoin [BTC] price volatility around the hours of the announcement is still possible.

Recently, AMBCrypto reported that the optimism around the U.S.-Iran peace deal helped fuel the recent move to the $65k level. This recovery was on thin ice because of declining spot volumes that indicated limited market conviction.

Bitcoin may have already peaked following recent macro optimism. Moreover, the $67.3k level could mark the high‑water point for its next move.

Bitcoin has not yet witnessed its extreme bear phase

In a post on X, a crypto analyst observed that miner pressure increased dramatically in June after Bitcoin fell to a low of $59.1k. The analyst argued that the price dump forced miners to reduce or diversify their operations to lower costs.

Bitcoin Miner to Exchange Flow
Source: Darkfost on X

The hashrate has fallen 28% since last October, supporting this idea. Moreover, February and the one earlier in June had some similarities.

They both forced increased BTC miner inflows to exchanges. The production cost was at $76k, but market prices were far lower, forcing them to operate at a loss and sell some inventory to keep up with operational expenses.

Bitcoin Bull BearBitcoin Bull Bear
Source: Darkfost on X

Notably, each cycle can be broken down into five distinct phases, from overheated bull to extreme bear. Based on the metric above, the threshold for extreme bear has not yet been reached.

Bitcoin price prediction: More losses to come?

The on-chain data shows miners and holders facing heavy losses, and the capitulation has not yet ended. From a price action perspective, the trend remained bearish from the weekly down to the 4-hour timeframes.

Bitcoin 4-hour ChartBitcoin 4-hour Chart
Source: BTC/USDT on TradingView

The swing structure on the 4-hour chart was bearish. The recent U.S.-Iran peace talks saw a BTC bounce that reached just beyond the 50% retracement level at $66.8k.

However, the rejection in recent days could see a drop below the $64k support zone (cyan). This scenario would increase the chances of a drop below the $59.1k level.

Final Summary

  • Though the stock markets were roaring higher, the recent uptick came as peace talk optimism grew.
  • Bitcoin was unable to move to the $70k resistance. Another sell-off is possible, and a drop below $64k would signal the continuation of the downtrend.



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Bitcoin (BTC) layer-2s face a bear-market reality check

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moneyvests
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Bitcoin (BTC) layer-2s face a bear-market reality check

The distinction matters. Wrapped bitcoin products such as WBTC, Coinbase’s cbBTC and Circle’s recently announced synthetic bitcoin product already allow BTC to circulate in DeFi. But Tse said many bitcoin holders dislike giving up custody in exchange for synthetic tokens.

“Most users, many users, do not like it,” he said. “They don’t want to give up title, they don’t want to give up custody.”

Bitcoin layer-2s

Orkun Mahir Kılıç, co-founder and CEO of Chainway Labs, developer of Citrea, offered a blunter critique of the sector’s earlier ambitions.

“Trying to do the same things as Solana the day you launch doesn’t make any sense,” he said.

Bitcoin layer-2s should stop pitching themselves as general-purpose blockchains, he added. The market already has mature ecosystems for trading, lending, consumer applications and perpetual futures.

Instead, Kılıç said, Bitcoin layer-2s should focus on products “uniquely enabled by Bitcoin security and settlement.”

There are still things that wait to be solved on the Bitcoin layer-2 markets,” he said. “But definitely general-purpose ecosystem focus, like trying to compete with Ethereum applications on your day one, is a little bit hard to achieve.”

Diego Gutierrez Zaldivar, CEO and co-founder of Rootstock Labs, said Botanix’s closure reflects another lesson: building a blockchain ecosystem is much harder than solving the technical problem.



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Stocks Supported by Lower Crude Oil Prices and Bond Yields

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moneyvests
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Stocks Supported by Lower Crude Oil Prices and Bond Yields


The S&P 500 Index ($SPX) (SPY) today is up +0.11%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.57%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.18%.  June E-mini S&P futures (ESM26) are up +0.09%, and June E-mini Nasdaq futures (NQM26) are down -0.14%. 

Stock indexes are mixed today, with the Dow Jones Industrials posting a new all-time high.  Stocks are supported as crude oil prices dropped another -3% today to a 3.25-month low, easing inflation expectations and supporting stocks and bonds.  Stocks have carryover support from Monday’s surge after the US and Iran agreed to end their war and reopen the Strait of Hormuz, stoking risk-on sentiment in asset markets.  The 10-year T-note yield is down -2 bp to 4.45%.

More News from Barchart

Gains in stocks are limited today amid weakness in energy producers from the plunge in crude oil prices and today’s weaker-than-expected US housing starts and building permits reports.

The market’s focus will turn to the 2-day FOMC meeting that begins today, which will be the first under the leadership of new Fed Chair Kevin Warsh. While the Fed is expected to keep interest rates unchanged, the spotlight will be on how Mr. Warsh navigates the post-meeting press conference and the outlook for inflation.

US May housing starts fell -15.4% m/m to a 6-year low of 1.177 million, weaker than expectations of 1.430 million.  May building permits, a proxy for future construction, fell -0.7% m/m to 1.413 million, weaker than expectations of 1.418 million.

The US May import price index ex-petroleum rose +0.8% m/m, stronger than expectations of +0.5% m/m.

WTI crude oil prices (CLN26) are down more than -3% today at a 3.25-month low due to the US-Iran deal to reopen the Strait of Hormuz, boosting expectations for a revival in oil supplies. Goldman Sachs today cut its price forecast on Brent crude to $80 a barrel in Q4 of this year, down from $90 a barrel, and said it expects Persian Gulf crude exports to return to pre-war levels by the end of July, one month earlier than previously expected. 

The markets are discounting a 4% chance of a +25 bp rate hike at the conclusion of the Tue/Wed FOMC meeting.

Overseas stock markets are mixed today.  The Euro Stoxx 50 is up +0.61%.  China’s Shanghai Composite fell from a 1.5-week high and closed down -0.11%.  Japan’s Nikkei-225 Stock Average rose to a new all-time high and closed up +0.13%.

Interest Rates

September 10-year T-notes (ZNU6) today are up +4 ticks, and the 10-year T-note yield is down -2.0 bp to 4.453%.  Sep T-notes are moving higher today amid the fall in WTI crude oil to a 3.25-month low, which has reduced inflation expectations and is bullish for T-notes.  Also, weaker-than-expected US May housing starts and building permits are supportive of T-notes.  In addition, markets are hoping for a less hawkish FOMC meeting this week, given that oil prices should decline over time if the Strait of Hormuz reopens as expected. 

European government bond yields are moving lower today.  The 10-year German bund yield fell to an 8-week low of 2.921% and is down -3.0 bp to 2.924%.  The 10-year UK gilt yield is down -3.0 bp to 4.782%.

Eurozone Q1 labor costs were revised downward to +3.2% y/y from the previously reported +3.4% y/y.

The German Jun ZEW survey expectations of economic growth rose +20.7 to a 4-month high of 10.5, stronger than expectations of -5.5.

Swaps are discounting an 17% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Chipmakers and AI infrastructure stocks are pushing higher today, supporting gains in the broader market. Western Digital (WDC) is up more than +6% to lead gainers in the S&P 500 and Nasdaq 100, and Seagate Technology Holdings Plc (STX) and Qualcomm (QCOM) are up more than +4%.  Also, ARM Holdings Plc (ARM) is up more than +2%, and Analog Devices (ADI), SanDisk (SNDK), and Microchip Technology (MCHP) are up more than +1%. 

Airline stocks and cruise line operators are rallying today as the -3% decline in WTI crude oil prices lowers fuel costs and boosts the profitability prospects for the companies. American Airlines Group (AAL) and Southwest Airlines (LUV) are up more than +3%, and Carnival (CCL), Alaska Air Group (ALK), and Norwegian Cruise Line Holdings (NCLH) are up more than +2%.  Also, Royal Caribbean Cruises (RCL), United Airlines Holdings (UAL), and Delta Air Lines (DAL) are up more than +1%. 

Mining stocks are climbing today with rallies in gold, silver, and copper prices.  Coeur Mining (CDE) is up more than +3%, and Hecla Mining (HL), Newmont Corp (NEM), Barrick Mining (B), and Southern Copper (SCCO) are up more than +2%.  Also, Freeport McMoRan (FCX) and Anglogold Ashanti (AU) are up more than +1%. 

Cybersecurity stocks are under pressure today, limiting gains in the broader market.  Palo Alto Networks (PANW), Zscaler (ZS), and Fortinet (FTNT) are down more than -2%, and CrowdStrike Holdings (CRWD) is down more than -1%. 

Energy stocks and service providers are moving lower today with WTI crude oil down more than -3% to a 3.25-month low.  Valero Energy (VLO) is down more than -2%.  Also, ConocoPhillips (COP), Diamondback Energy (FANG), Devon Energy (DVN), Haliburton (HAL), APA Corp (APA), and Marathon Petroleum (MPC) are down more than -1%. 

Space Exploration Technologies (SPCX) is up more than +13%, adding to the +37% gain over the past two sessions on positive carryover from its record $75 billion initial public offering (IPO) late last week, which was more than four times oversubscribed, indicating strong demand for the stock. 

Mobileye Global (MBLY) is up by more than +5% after announcing plans to expand its robotaxi activities beyond self-driving technology into full ownership of an autonomous ride-hailing business. 

Valmont Industries (VMI) is up more than +3% after projecting a goal of $5.4 billion in organic net sales and an EPS target of $35 by the end of 2029. 

Edwards Lifesciences (EW) is up more than +3% after the US government published a coverage proposal for transcatheter aortic valve replacement, a positive development for the company.   

Huntsman (HUN) is down more than -13% after agreeing to merge with Olin in an all-stock merger of equals.

Dave & Buster’s Entertainment (PLAY) is down more than -6% after reporting Q1 revenue of $559.2 million, weaker than the consensus of $580.3 million.

Tractor Supply Co (TSCO) is down more than -3% to lead losers in the S&P 500 after several analysts cut their price targets on the stock. 

Huson Pacific Properties (HPP) is down more than -1% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $14.

Tanger (SKT) is down more than -1% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $38.

Earnings Reports(6/16/2026)

John Wiley & Sons Inc (WLY) and La-Z-Boy Inc (LZB).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com



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Fidelity joins Wall Street’s race to manage stablecoin reserves

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Fidelity joins Wall Street's race to manage stablecoin reserves

The GENIUS Act, signed into law last year, established the first federal framework for payment stablecoins in the United States. Among other requirements, issuers must hold reserves in cash, short-term Treasury securities and certain government money market funds.

The legislation has created an opportunity for traditional asset managers to offer regulated vehicles that stablecoin issuers can use to manage those reserves while generating yield.

Fidelity’s fund will invest in U.S. Treasury bills, notes and bonds with maturities of 93 days or less, cash, overnight repurchase agreements backed by Treasuries and other government money market funds that comply with the law.

“Fidelity has a longstanding history in fixed income and money markets, making us uniquely positioned to offer a money market fund for stablecoin issuers that is compliant with the new GENIUS-Act legislation,” said Robin Foley, Fidelity’s head of fixed income, in a statement.

While Fidelity’s announcement focused on reserve management, State Street framed its launch as part of a broader push into tokenized finance through partnerships with crypto firms such as Anchorage Digital and products designed for onchain liquidity management.



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