Baltic
Dry Index. 3124 -81
Brent Crude 97.02
Spot Gold 4497 Spot Silver 73.90
US 2 Year Yield 4.08 +0.08
US Federal Debt. 39.207 trillion
US GDP 32.181 trillion.
Unfortunately, it is not in the power of government to make everyone more prosperous. Government can only raise the income of one person by taking from another.
Hans F. Sennholz
As another weekend approaches, more rumours of a peace of sorts this weekend. A third weekend of peace hype, but this time the stock casinos are minded of the boy who cried wolf fable.
In better news, Israel and Lebanon have supposedly reached a truce, but will Netanyahu’s Israel respect it?
In the Great AI Bubble, nearly everyone is trying to cash out via an IPO. Dot con 2.0, year 2000?
Asia-Pacific markets fall on renewed Middle East
tensions
Published Wed, Jun 3 2026 7:46 PM EDT
Asia-Pacific markets fell Thursday,
tracking Wall Street losses overnight, as tensions between Iran and the U.S.
keep oil prices elevated, stoking energy and inflation worries.
The Kuwait International Airport was
struck by Iran early Wednesday, just a day after the U.S. Central Command said
it had defeated multiple Iranian ballistic missiles and
drones, as well as launched “self-defense strikes” on Qeshm Island in the
Persian Gulf. This was in response to “attempted attacks” by Tehran, it said.
If necessary, Israel and the U.S. are
prepared to strike Iran again, Israeli Prime Minister Benjamin Netanyahu told
CNBC in an exclusive interview.
“Israel is ready and the U.S. forces are
ready. I think Iran should take that into account. I think they are taking into
account, but they’re playing with fire,” Netanyahu said.
West Texas Intermediate futures gained
more than 2% to close at $96.02 on Wednesday, while international
benchmark Brent crude
advanced nearly 2% to settle at $97.81 per barrel. Futures were about 1%
lower Thursday.
South Korea’s Kospi fell 1.24%, but the
small-cap Kosdaq advanced over 2.61% as trading resumed after a holiday.
Japan’s Nikkei 225 fell 1.77% after
hitting a record high in the previous session, while the Topix declined
1.33%. SoftBank Group dropped
over 11.04% amid news that it has sold a 3.25% stake in Indian eyewear company
Lenskart Solutions via a block deal.
Australia’s S&P/ASX 200 was 1.30%
lower.
Mainland China’s CSI 300 fell 0.58%, while
Hong Kong’s Hang Seng lost
1.49%.
India’s Nifty 50 slipped 0.30%,
while the BSE Sensex was down 0.33%.
Futures tied to the S&P 500 futures fell by
0.5%, while Nasdaq 100
futures shed 0.6%. Dow
Jones Industrial Average futures were trading marginally higher.
The 30-stock Dow Jones Industrial Average pulled
back 620.72 points, or 1.21%, to end at 50,687.07 on Wednesday. The broad
market S&P 500 fell 0.74% to close at 7,553.68, while the tech-heavy Nasdaq Composite declined
0.89% to 26,853.98.
Asia
markets today: ASX, Nikkei, Kospi, Hang Seng, CSI 300, Sensex, oil
CNBC Daily Open: Fresh Iran war worries halt stock
rally
Published Wed, Jun 3 2026 9:49 PM EDT
Hello, this is Dylan Butts writing to you
from Singapore. Welcome to the latest edition of the Daily Open newsletter.
Traders in Asia are evaluating another
round of mixed signals from the Middle East, as the U.S.-Iran war continues
into its fourth month.
In an interview with CNBC, Israeli Prime
Minister Benjamin Netanyahu said Israel and the U.S. were ready to return to
military action against Iran, if needed.
The remarks pushed oil prices higher and
stock futures down, even as progress was reported on a ceasefire between Israel
and Lebanon and the U.S. House of Representatives voted to block further
American military involvement.
What you need to know today
In an exclusive interview with CNBC aired
Wednesday, Netanyahu said that Trump had warned Iran of “a
full scale return to military action,” if necessary, emphasizing that it
would ultimately be the U.S. president’s decision.
Netanyahu, however, noted that there had
been tactical
disagreements between the U.S. and Israel, though they were largely on
the same page on their Middle East strategy.
The comments appeared to spook oil
traders, with Brent and WTI crude both moving
higher on fears of renewed escalation, though crude remains below the
psychologically important $100-per-barrel level.
S&P
500 futures were pointing lower after the benchmark snapped a nine-day
winning streak during the trading day.
In a more positive development for a peace
deal, Israel and Lebanon have agreed to implement a ceasefire. Asia markets,
however, opened
lower Thursday as Mideast worries keep investors on edge.
Signaling diminishing appetite for the
conflict in Washington, the U.S. House voted in favor of a war powers measure that would
direct an end to U.S. military involvement in the Iran conflict unless Congress
authorizes continued action.
While the bipartisan vote underscores
growing congressional pushback over the scope and duration of the Iran
campaign, the measure still needs to pass the Senate, and any final legislation
could face a presidential veto.
Trump on Wednesday suggested that Iran had
agreed not to have nuclear weapons, while adding that “they
can change their mind.” Iran’s Foreign Ministry declined to comment on
Trump’s interview when contacted by CNBC. A government official, who was not
authorized to speak publicly, told CNBC Trump’s words were “misleading.”
The comments came after the The Kuwait
International Airport was struck
by Iran, a day after the U.S. Central Command launched “self-defense
strikes” on Qeshm Island in the Persian Gulf.
Corporate America delivered its own set of
headlines on Wednesday, pouring cold water on Wall Street’s recent tech-led
rally.
Broadcom
shares plunged nearly 14% after-hours after the company reported
weaker-than-expected software revenue and didn’t raise its full-year AI chip
sales target. CrowdStrike
shares also tumbled around 10% in after-hours trading despite its
fiscal first-quarter results narrowly beating Wall Street expectations.
More
CNBC
Daily Open: Fresh Iran war worries halt stock rally
Israel and Hezbollah agree new ceasefire
Thu, 4 June 2026 at 12:21 am BST
Israel and Hezbollah have agreed to a new
ceasefire, the US State Department has said.
The two countries agreed on Wednesday
night to renew a fragile truce and create a number of "pilot"
security zones inside Lebanon from which Hezbollah militants
would be banned.
In a joint statement, released after a
fourth round of US-mediated talks, the two sides said the ceasefire "is
contingent on a complete cessation of Hezbollah fire and the evacuation of all
Hezbollah operatives" from areas south of the Litani River.
It was not immediately clear how the
security zones would be established but the agreement calls for the Lebanese
army to take full control of those areas.
"These steps will enable progress
towards a comprehensive peace and security agreement," the statement
said.
More
Israel
and Hezbollah agree new ceasefire - Yahoo News UK
In dot con 2.0 news, cash out time?
Fears of dotcom bubble 2.0 as trillion-dollar AI
floats swamp the market
Speculation over mega public listings
leaves investors worried about history repeating itself
Published 02 June 2026 4:50pm BST
The euphoria surrounding AI has surged to
its next exhilarating – and dangerous – level.
Anthropic, the developer of the Claude
chatbot, took its first
step towards a US stock market listing on Monday after privately
filing paperwork with regulators.
The company is expected to fetch a $1tn
(£740bn) valuation in an initial public offering – or IPO – beating its rival
OpenAI, the inventor of ChatGPT, to a float on Wall Street.
These are not the only companies likely to
fetch such lofty valuations. Elon
Musk is on course to become the world’s first trillionaire should he
meet targets after SpaceX’s potential $1.8tn listing in the US later this
month.
But rather than generating excitement, the
astronomical numbers have left many professional investors questioning whether
the market is entering the next phase of an AI bubble.
“It’s something we are all thinking
about,” said Patrick Perret-Green, the chief executive of investment researcher
PPG Macro.
“I struggle with the maths. Think the
dotcom example of Global Crossing.”
Global Crossing, which floated in 1998,
became an infamous example of what goes wrong when markets become too excited
about a newfound technology.
As investors raced to jump on the hype
created by the advent of the internet, the telecoms company’s valuation soared
to $47bn in 1999 despite it never recording a profitable year.
It collapsed into bankruptcy in 2002 after
the dotcom bubble burst, sending the valuations of technology, media and
telecommunications (TMT) companies plummeting.
Joachim Klement, an analyst at stockbroker
Panmure Liberum, warned last month about the “impossible maths” surrounding
some of the major AI players.
So-called “hyperscalers” such as Meta and
Microsoft have ploughed billions into investments in data centres and AI
infrastructure.
However, Mr Klement warned they were
unlikely to generate a return on their investments at their current trajectory.
Google-owner Alphabet announced on Tuesday it would tap shareholders for $80bn
to fund its own spending plans.
More
Fears
of dotcom bubble 2.0 as trillion-dollar AI floats swamp the market
SpaceX is worth less than half of its $1.75
trillion IPO target, Morningstar says
Published Wed, Jun 3 2026 5:19 AM EDT
SpaceX is expected to start trading on the
Nasdaq in just over two weeks, but Morningstar analysts have warned that Elon
Musk’s tech behemoth is “significantly overvalued.”
The hotly-anticipated debut is expected to
be the largest ever initial public offering, with SpaceX reportedly targeting a
$75 billion fundraise and a valuation of $1.75 trillion.
“We think the company has been
significantly overvalued and investors will have opportunities to buy the stock
at more attractive levels after the IPO,” Morningstar analysts wrote in a note
published Monday.
The analysts see a wide range of
possibilities for the potential profitability of SpaceX’s xAI and find its
“economic moat indeterminate.” They view the unit as posing a “material threat
of value destruction” to the company.
As such, Morningstar’s discounted cash
flow valuation of SpaceX is $780 billion, which is roughly 48% below its
private market valuation of $1.5 trillion.
Morningstar said the upcoming IPO does not
offer the best entry point for retail investors. However, long-term investors
eager to participate in the company’s potential future success will have more
opportunities later down the line, with “a greater margin of safety” than at
the time of flotation, the analysts added.
“With a small initial float boosted by
almost every investment bank on the planet, buoyant investor appetite for AI
infrastructure bids, and an unprecedented path to inclusion in the Nasdaq 100
Index just 15 trading days after the IPO, we expect SpaceX’s share price will
likely survive separation and may even ascend, at least for a time,”
Morningstar said.
SpaceX recorded a net loss in the
latest quarter of $4.28 billion after losing $4.94 billion in 2025.
Its Starlink arm generated $3.26 billion
in revenue in the latest quarter, accounting for 69% of the total. Its space
business lost $619 million on an operating basis, while its AI unit lost $2.5
billion — meaning connectivity is the only profitable part of the
company.
Crucially, SpaceX wrote in its S-1 filing
that it has “a history of net losses and may not achieve profitability in the
future.”
Much of its value relies on success in
developing various technologies that are “novel and untested”, and SpaceX
expects to “incur significant capital expenditures over a period of years”
before its AI products and services become profitable, according to the
document.
Dan Coatsworth, head of markets at AJ
Bell, said “little is known” about SpaceX’s financials due to its status as a
private company, with Elon Musk controlling 85% of the voting rights.
Coatsworth flagged the potential for an eye-watering valuation as a potential
risk to further upside.
“A $1.75 trillion valuation would put
SpaceX on 67 times sales, three times as much as Nvidia’s rating based on its
past financial year and latest share price,” he added. “It implies SpaceX’s
valuation could be richer than a plate of dauphinoise potatoes.”
Meanwhile, chatter about whether Musk could
merge SpaceX with Tesla has resurfaced.
SpaceX is worth
less than half its IPO target price, Morningstar says
In other news, as expected in day 96 of
Trump’s 6 day war, nothing good.
Donald Trump’s Iran war drains US oil stocks to
lowest level since 2004
Industry warns prices could soon jump as
inventories reach ‘critically low’ threshold
4 June 2026
Donald Trump’s Iran war has driven US oil
stocks to their lowest level in two decades as his administration drains
stockpiles to contain surging prices and exporters capitalise on the drop in
Middle Eastern supply.
US government data published on Wednesday
showed total stocks of crude and petroleum products such as petrol fell by
10.6mn barrels last week to 1.57bn barrels — the lowest level since 2004.
The sharp fall triggered new warnings from
industry analysts that oil prices are poised to move sharply higher again
within weeks. The US oil price rose 2.6 per cent in afternoon trading on
Wednesday to $96.17 a barrel.
Bob McNally, president of Rapidan Energy
Group and a former White House adviser, warned prices could reach $200 per
barrel this summer unless the Strait of Hormuz — the crucial energy waterway in
the Gulf closed by the war — was
reopened to tanker traffic.
“You start to raise the risk of spillover
into other sectors, the economy and financial system … it detonates fragilities
in the broader economy and financial system,” McNally said.
The fall in US inventories since the war
began has erased the build-up caused by the shale revolution, which made the
country the world’s largest oil producer and a major exporter.
Last week’s drop was driven by a fall of
16mn barrels in commercial and government stocks of crude oil and rising
exports to Asia and Europe, where traders have raced to replace lost Middle
Eastern supplies.
US crude shipments jumped from 4.4mn
barrels a day to 5.8mn b/d last week — more than many Opec countries produce —
continuing a pattern of sharply higher exports since the war began, according
to the Energy Information Administration.
The surge underscored the dire
state of global oil supplies because of the near-total closure of
the strait, the waterway between Iran and Oman through which a fifth of the
world’s 100mn b/d or so of global oil supply flowed before the war.
“The US is acting like the lender of last
resort for global oil markets, acting as a stabiliser and providing a buffer to
offset Middle Eastern supply loss,” said Edward Hayden-Briffett, analyst at The
Officials, a division of Onyx Capital Group.
But he warned the US’s ability to absorb
the global oil shock was finite, pointing to increased releases from the
nation’s strategic petroleum reserve — which was also tapped by Joe Biden’s
administration to push down prices.
“As that buffer decreases, it becomes a
stressor rather than a reassurance,” said Hayden-Briffett.
More
Donald Trump’s
Iran war drains US oil stocks to lowest level since 2004
OECD warns of global slowdown as U.S.-Iran war
stymies economic growth prospects
Published Wed, Jun 3 2026 3:00 AM EDT
The Organisation for Economic Cooperation
and Development has slashed its global growth outlook, warning that the
economic damage from the U.S.-Iran war could dramatically worsen unless a
durable peace settlement is reached quickly.
In its June Economic Outlook, the OECD
said global growth is now expected to slow from 3.4% in 2025 to 2.8% in 2026,
before recovering to 3.1% in 2027 — should the current energy price shock start
easing by the middle of this year.
But that’s assuming a time-limited
disruption scenario in which a peace agreement is reached and current
disruptions to the Strait of Hormuz are swiftly resolved, said Stefano
Scarpetta, the OECD’s chief economist.
A worse scenario, in which the disruptions
to shipping and energy infrastructure continue well into 2027, would see global
growth fall sharply to just 2.1% in 2026, and 1.8% in 2027.
That would tip some economies into, or
close to, recession, Scarpetta warned.
The OECD’s study explores how the Strait
of Hormuz shutdown, coupled with energy infrastructure damage throughout the
Gulf, has sent energy prices soaring, and pushed up the costs of fertilizers
and other key industrial inputs. It noted how the consequences of the war
between the U.S. and its allies and Iran are likely to be felt for some time,
even after any resolution is found.
Scarpetta said that a durable settlement
to the current conflict would not only bring relief to the region but also “lay
the groundwork for a resolution to the disruptions it has caused to the global
economy.”
“The longer the disruptions last, the
larger the economic and social costs become,” he said in the report.
In the worse-case scenario, global
inflation is expected to rise by 0.4 percentage points in 2026, and 1.3
percentage points in 2027.
“Unemployment would rise and investment —
including in energy-intensive AI — would weaken significantly, with increasing
risks of financial market repricing… with upside pressures from elevated
commodity prices partially offset by weaker final demand,” Scarpetta said.
“The consequences would be global but
could prove especially severe for developing economies with limited energy
reserves, higher shares of energy and food in household consumption,
constrained fiscal capacity and weak social safety nets, low private savings
buffers and more fragile currencies.”
The downward trajectory will further
complicate the challenge for global central banks already grappling with weaker
growth and inflationary pressures, he added.
The crisis also highlights the
vulnerability of global economies to one single chokepoint, and underlines the
need to strengthen the resilience of supply chains and diversify energy supply,
the OECD report said.
“In the near-term, emergency
demand-restraint measures and international coordination of strategic energy
stocks can help mitigate some of the effects of the supply crunch, but the need
to invest more to wean us off the dependency on fossil fuel imports is more
urgent than ever.”
OECD warns of
global slowdown as Iran war stymies growth prospects
Iran has mined ‘large segments’ of Hormuz Strait,
Secretary of State Rubio says
Published Tue, Jun 2 2026 6:07 PM EDT Updated
Tue, Jun 2 2026 7:13 PM EDT
Secretary of State Marco Rubio said Tuesday
that Iran has mined “large segments” of the Strait of Hormuz, indicating that
explosives in the strategic sea lane are more widespread than previoulsy
acknowledged.
“They’re firing on commercial ships and
they’ve mined large segments of Hormuz — international waters,” Rubio told the
Senate Foreign Relations Committee, in his first appearance before Congress
since the U.S. and Israel launched the war against Iran on Feb. 28.
Iran must agree in any deal with the U.S.
that it will not charge a toll to transit Hormuz, will not fire on commercial
ships and will help remove any mines it has laid in the strait, the Secretary
of State said.
“What they’re doing is unlawful and
illegal,” Rubio told the Senate.
Hormuz is a crucial chokepoint for the
global energy market, with about 20% of global oil supplies passing through the
sea lane before war. Oil tanker traffic through the strait has plunged due to
threats from Iran, triggering the the largest supply disruption in history.
President Donald Trump cast doubt
early in the war that Iran was deploying mines. In a Truth Social post on March
10, Trump warned Tehran that if it has deployed mines in Hormuz, they were to
be removed immediately. The president said the following day that he
didn’t think Iran had mined the strait when asked by a reporter outside the
White House.
Trump said on April 23 that he ordered the
U.S. Navy to “shoot and kill” any boat that
was deploying mines in the strait. He said U.S. mine sweepers were “clearing
the Strait” at an accelerated tempo.
But Iran’s mines still pose a major
challenge to the resumption of large scale commercial traffic more than a month
after Trump said the US. was clearing the explosives. The president demanded
Friday that
Iran “complete the immediate removal and/or detonation of any mines” that the
U.S. has not already removed.
It is still unclear how many mines are in
Hormuz and where they are located in the sea lane, said Jack Kennedy, head of
Middle East country risk at S&P Global Market Intelligence. Traffic through
Hormuz is
unlikely to return to prewar levels until a solid demining effort has taken
place, Kennedy said.
The White House did not respond to a
question about how many mines are believed to remain in Hormuz. The Pentagon
has destroyed numerous mines and over 40 minelaying vessels, a White House
official told CNBC.
“The President has been clear that these
are short-term, temporary disruptions,” the official said.
Iran has mined
'large segments' of Hormuz Strait, Secretary of State Rubio says
UN warns world to prepare for El Nino extreme
weather
Tue, 2 June 2026 at 1:24 pm BST
There is an 80-percent chance of the
warming El Nino phenomenon developing between June and August, increasing the
risk of extreme weather events, the World Meteorological Organization said
Tuesday.
"Fuelled by unusually warm ocean
waters in the tropical Pacific, El Nino conditions are developing and are set
to influence global temperature and rainfall patterns," the United
Nations' WMO weather and climate agency said.
Forecasts from the WMO global network
"indicate a pronounced shift toward El Nino conditions, with probabilities
reaching 80 percent for June-August", the Geneva-based organisation said.
El Nino is a natural climate phenomenon
that warms surface temperatures in the central and eastern equatorial Pacific
Ocean, bringing worldwide changes in winds, pressure and rainfall patterns.
It typically takes place every two to
seven years and lasts around nine to 12 months.
Conditions oscillate between El Nino and
its opposite La Nina, with neutral conditions in between.
The likelihood of El Nino developing by
November is "near or above 90 percent", and most forecast models
suggest it will be "at least moderate -- and possibly strong", the
WMO said in its quarterly El Nino/La Nina update.
WMO chief Celeste Saulo said the world
needed to get ready for an El Nino which could "exacerbate drought and
heavy rainfall and increase the risk of heatwaves both on land and in the
ocean".
The WMO says that even a moderate El Nino
makes some weather and climate extremes more likely.
The last El Nino contributed to making
2023 the second-hottest year on record and 2024 the all-time high at around
1.55C above the 1850-1900 pre-industrial average.
More.
UN warns world to
prepare for El Nino extreme weather - Yahoo News UK
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians.
Here’s the impact of Trump’s Iran war on your household budget
Wed, 3 June 2026 at 5:24 am BST
The military conflict in Iran has cost U.S.
households an estimated $100 billion overall, driven
primarily by a sharp increase in energy costs following
the closure of
the Strait of Hormuz, a new study from Moody’s Analytics found.
The analysis indicates that the financial burden
translates to roughly $750 per household since the conflict began in February.
The military action, initiated
by President Donald Trump without congressional approval,
has led to a 35 percent surge in oil prices.
According to data from AAA, the national average price for regular gasoline
sits at $4.29 per gallon, though prices remain elevated after previously
climbing above $4.50. Costs continue to top $5 in six states following the
disruption of shipping lanes in the region.
Although the White House has dismissed concerns
regarding the economic impact, public polling suggests the financial pressure
is affecting domestic budgets.
Trump has downplayed the inflation concerns,
calling the price hikes “peanuts” in comparison to the threat of a
nuclear-armed Iran.
However, a May survey conducted by Public First for Politico found
that 53 percent of Americans say the cost of living is the worst they can
remember, an increase from the 46 percent recorded in November.
The economic effects were highlighted by Mark
Zandi, the chief economist at Moody's Analytics. In a
statement posted to X, Zandi described the conflict in Iran as a “big
economic blow” for Americans.
Zandi stated that domestic tax cuts had initially
offset the higher costs, but that is no longer the case.
“As of May 16, the bigger tax refunds Americans
have received this year no longer cover the higher costs of gasoline, diesel,
and jet fuel caused by the war,” Zandi wrote. “The financial pressure is thus
mounting quickly, particularly on already hard-pressed middle and lower-income
households.”
Data from the Bureau of Economic Analysis showed
that the personal savings rate fell to 2.6 percent in April, down from 5.8
percent a year earlier, indicating that households are setting aside less money
as daily expenses rise.
Economists have expressed concern regarding the
longevity of this trend if energy prices fail to stabilize. Zandi warned that
low savings rates leave families with fewer options to absorb ongoing costs,
which could affect broader economic growth.
“With the saving rate about as low as it ever goes,
unless the war ends soon and energy prices come down, they will have little
choice but to rein in their spending, weighing further on the already sagging
economy,” Zandi wrote.
Here’s the
impact of Trump’s Iran war on your household budget - Yahoo News UK
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section Updates as they get reported.
Microsoft says new quantum chip 1,000 times
more reliable than predecessor
2 June 2026
Microsoft says its new quantum chip is vastly more
reliable than its previous version, paving the way for a quantum computer
solving commercially useful problems within three years.
At the heart of quantum
computing are qubits, which offer the promise of answering questions that
defeat today's machines, but are notoriously delicate and unstable.
Microsoft says the qubits on
Majorana 2, its new chip, survive for an average of 20 seconds, rather than the
milliseconds of Majorana 1.
That means the new chip is
1,000 times more reliable - an improvement in performance the tech giant
compares to the difference between a phone that needs charging every day to one
which needs charging every few years.
"We will have a quantum
machine in 2029 that can solve commercially viable, reasonable problems",
said Zulfi Alam, corporate vice president of Microsoft Quantum.
That would still require huge
further advances as such a device would require millions of qubits - the
current chip, Alam said, has 12.
Assessing the firm's claims
are difficult because it does not release the full details of what it has
discovered publicly, citing commercial confidentiality.
There is a worldwide race to
develop the technology, given its potential to take on tasks currently
considered too enormous for even the most powerful traditional computers.
Microsoft has spent 20 years
pursuing an approach to quantum computing known as "topological".
The firm's approach to this
is based on exploiting the properties of a so-called quasi-particle, which had
existed only in theory, since it was first predicted in the 1930s by Italian
physicist Ettore Majorana.
To do this it had to exploit
a novel state of matter - different from the three familiar states of liquid,
solid or gas.
Paul Stevenson, a physics
professor at the University of Surrey, said the tech giant's timeline sounded
plausible - if its research lived up to its claims.
"Microsoft appears to
have made a leap in their attempt to produce viable topological qubits,"
he said.
"If they succeed, they
will leap from being a player with no production quantum computer, to being a
serious player in the race to make the next generation of fault-tolerant
machines."
False start
Microsoft's focus on
topological qubits has, at times, been controversial.
It was forced to retract a paper published in the journal Nature in 2018 in which it claimed to have
found evidence for the Majorana.
But it continued working on
it, and its first Majorana chip was released in 2025.
However, Microsoft faced
considerable scepticism, including over its claims about Majorana's, from unconvinced experts, external.
Henry Legg, a physicist at
the university of St Andrews, told the BBC at the time that in his opinion
Microsoft's quantum research had "moved firmly away from science and
entered the realm of faith".
Today, Jason Zander,
executive vice president of Microsoft Quantum and Discovery, said: "We
stand behind it 100%.
More, much more.
Microsoft claims new quantum chip 1,000 times better than before - BBC
News
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
Go into the street and give one
man a lecture on morality, and another a shilling, and see which will respect
you most.
Dr. Samuel Johnson.
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