INFORMANT

TRANSCRIPT

The Operator: Good evening. I'm Wendell. Here is your wire.

The Operator: According to CNBC Markets, the Bank of England is sounding the alarm on frontier AI. Governor Andrew Bailey warns that these models could materially increase cyber risks and trigger a disorderly correction in global financial stability. He's urging governments to step up safeguards, citing sovereign debt fragilities and stretched asset valuations.

The Operator: In tech news, CNBC Technology reports that OpenAI plans to cut model access for Cursor by November twelfth. The reason? Concerns that SpaceX won't comply with terms of service following its sixty billion dollar acquisition. CEO Michael Truell notes that OpenAI models currently account for about five percent of Cursor user traffic.

The Operator: And on the macro front, CNBC Markets reports that Federal Reserve Chairman Kevin Warsh has warned that underlying inflation trends have not meaningfully improved. Following his Jackson Hole symposium speech, traders raised the probability of a September rate hike to some number percent, and Treasury yields moved higher.

The Operator: That is all for tonight.

The Operator: That's the show. We're on Spotify and YouTube — if this earned it: like, subscribe, tell a friend. And housekeeping: the machine that writes this gets tuned constantly for cleaner news. The numbers are real; the jokes are not. One more thing: this whole station runs on one garage computer, and if the tape ever earned you a coffee, there's a tip jar at informant.reiners.io. It keeps the phone line on.