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Why we love this deal

Outdoor lighting is one of the best additions you can add to your patio space. After putting up twinkling string lights around the deck or placing brightly lit stakes along the pathways, you can spend more time relaxing outside without having to retreat inside once the sun goes down. Plug-in lights will be more practical than hiring an electrician to rewire your exterior for hardwired lighting fixtures, but an even more convenient solution is solar-powered lighting. Solar-powered lights run on sunshine, so they won’t increase your electric bills, and they’re simple to install since you don’t need to find a spare outlet. 

One of Walmart’s bestselling solar lighting options is the pair of Toodour Decorative Hanging Solar Lanterns, and they’re currently on sale with 55% off at the retailer. This versatile outdoor lighting has a two-in-one design, so it can be displayed on the tabletop or hung overhead on a hook. It even offers four lighting modes, so you can go for a charming flickering flame when you want a romantic ambiance or go brighter with a solid white glow when you need extra illumination. Normally, you’d have to pay $49 to snag this pair of solar-powered lanterns, but with Walmart’s weekly Flash deal, you can score them for just $22, which is only $11 apiece. 

Toodour Decorative Hanging Solar Lanterns, $22 (was $49) at Walmart

Courtesy of Walmart

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Why do shoppers love it?

Equipped with high-efficiency solar panels, these decorative lanterns charge throughout the day and automatically power up at dusk. When fully charged, the lanterns will stay aglow for up to 8 hours, so you don’t have to worry about the party ending early. On gray and cloudy days when the lanterns don’t get enough sunlight, you can also recharge them via USB charging as well. If those cloudy days turn into stormy ones, you can also feel confident about keeping the lanterns outside, as they have an IP65 waterproof rating that can stand up to splashes and sprays. 

Related: Walmart’s 3-piece patio set with rocking chairs provides comfort for just $70

Reminiscent of an antique wrought iron lamp, these lanterns have a classic design that will upgrade your outdoor space. To keep them lightweight and easy to hang up or move around, the lanterns are constructed from a durable plastic that’s weather- and fade-resistant. As a bonus, the lanterns offer four lighting modes, including warm light, white light, natural light, or a flickering flame mode, so you can create whatever ambiance you desire. “The lights themselves are just the right brightness for an evening outdoors,” wrote one shopper. They praised the design: “The different lighting modes are fantastic, because you can use the bright one for eating your meal, then put it on the flame mode for after-dinner drinks.”

Details to know 

Dimensions: Each lantern measures 4.5 inches long, 4.5 inches wide, and 6.2 inches tall.

Power source: Solar power or USB charging.

Are they waterproof?: Yes, the outdoor lights have an IP65 waterproof rating.

Average shopper rating: 4.4 out of five stars.

Overall, shoppers have great things to say about these solar-powered lanterns. “I’ve currently got them sitting without the legs on my patio dining table and they cast a lovely warm glow,” one reviewer raved. They continued, “They’re perfect for summer dinners outside, and I’m excited to use them when camping.”

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PChero 4-Piece Solar Hanging Lanterns, $20 (was $30) at Walmart

Diigabo 2-Piece Solar Lanterns, $24 (was $40) at Walmart

Liwen 2-Piece Flickering Flame Solar Lanterns, $36 (was $41) at Walmart

Elevate your patio space with the fashionable and functional pair of Toodour Decorative Hanging Solar Lanterns while they’re on sale for just $22 at Walmart. Walmart’s Flash deals run through the week, but the best ones commonly sell out before then.

SpaceX (SPCX) and Nvidia (NVDA) stocks have taken different roads of late, but there’s still plenty of interest in where their AI stories go next. 

SpaceX shares are trading at around 12% higher than their $135 June IPO price, Reuters reported, despite some wild swings since going public, while Nvidia has gained 7% over the past three months and 16% this year.

Now both companies are tied together through one of Elon Musk’s more ambitious AI bets. SpaceXAI chose Nvidia’s Vera Rubin platform for growing its compute infrastructure, with plans to take that architecture beyond Earth. CEO Elon Musk is now doubling down.

SpaceX is already pitching that its AI business could become much larger than a side business.

It’s important to note that in an August all-hands meeting, he told employees, “Probably our AI revenue — not probably, definitely — our AI revenue will exceed all other SpaceX revenue probably in September, like next month.”

He added that AI sales should “significantly exceed all other SpaceX revenue in Q4.”

Having said that, Musk’s latest comments just took that idea further. He is no longer being vague about putting AI infrastructure in space someday. His latest exchange on X puts a firm timetable around the plan, suggesting that he thinks Nvidia’s most advanced systems would reach orbit a lot sooner than many investors might expect.

Musk puts fresh weight behind SpaceX’s orbital AI timeline

“I am highly confident that SpaceX will be launching Nvidia VR NLV72 AI computers in space next year,” Musk wrote on X, as cited by Seeking Alpha.

The serial entrepreneur has already laid out the broader plan during the company’s August earnings call, with expectations that launches could potentially begin in 2027.

Now, Musk is publicly reinforcing that timeline, suggesting SpaceX sees next year as a clear, achievable launch window rather than a distant ambition.

More Elon Musk:

Elon Musk makes bizarre claims about money, future of AI

Elon Musk sends blunt verdict on the future of humanity and AI

Elon Musk’s startling claim to SpaceX investors

The big implication is that SpaceX sees orbital computing as an extension of its existing AI infrastructure strategy rather than an isolated science project. If it can launch Nvidia-powered systems into orbit, it could combine launch capability, satellites, and compute infrastructure into a single platform.

Interestingly, it comes at a point when the company’s terrestrial AI business is starting to show real commercial weight. 

On Sept. 10, as reported by Seeking Alpha, SpaceX announced it had assigned an AI hosting agreement worth $1.11 billion a month, or $13 billion in annual recurring revenue, with service set to begin on Dec.r 1. CFO Bret Johnsen said that the deal gave management “even more conviction” in reaching their lofty $100 billion ARR run rate by year-end. 

Why SpaceX’s Nvidia partnership matters

The Nvidia partnership gives SpaceX’s orbital-computing pitch much more substance.

On Aug. 24, Nvidia announced that SpaceXAI would adopt its Vera CPUs and expand its AI infrastructure around the Vera Rubin platform. The companies are working in tandem to efficiently adapt that architecture for SpaceX’s first-generation Starmind AI satellite.

The Starmind system is expected to be used as an optimized version of Nvidia’s Vera Rubin NVL72 platform, which, in its standard form, combines 72 Rubin GPUs, 36 Vera CPUs, ConnectX-9 networking, and BlueField-4 DPUs.

The big challenge, though, for SpaceX is to turn that rack-scale AI computer into hardware capable of operating in orbit.

That would require solving multiple complex sets of constraints around energy, thermal management, bandwidth, reliability, and physical integration. Nvidia specifically underscored those key areas as part of the partnership.

SpaceX is betting that Nvidia’s architecture could become the computing layer for AI infrastructure on Earth and, eventually, in space.

Elon Musk says SpaceX could launch Nvidia AI computers into orbit next year.Spencer Platt / Getty Images

What it means for SpaceX and Nvidia stock investors

For SpaceX stock investors, Musk’s latest comments add more weight behind the argument that the company is looking to become more than a rocket and satellite operator.

Its terrestrial AI infrastructure is emerging as a significant growth engine already, while Starmind might add an entirely new layer by combining SpaceX’s rockets, satellite manufacturing, Starlink network, and AI computing infrastructure. 

Wall Street expects nearly $100 billion of SpaceX revenue in 2027, including $60 billion from AI, according to estimates cited by Barron’s.

That said, AI computing in space could be a possible future growth opportunity, but investors shouldn’t count on it to boost profits anytime soon. If Starship can cost-effectively carry large numbers of AI systems into orbit, SpaceX might be able to meet AI’s huge demand for electricity and computing power. 

However, delays or failures might still matter as SpaceX says the bulk of its long-term growth depends on Starship.

For Nvidia stock investors, the read-through is perhaps even simpler.

SpaceX is another enormous Nvidia customer, even if it takes the space-data-center thesis multiple years to mature.

The bigger implication is that Nvidia might not merely supply chips to today’s terrestrial hyperscalers. If orbital AI eventually becomes economically viable, Nvidia will be positioning its computing architecture to follow the AI data center into an entirely new physical market.

For now, funnily enough, investors should probably assign more value to SpaceX’s expanding Nvidia purchases on Earth than to GPUs that haven’t reached orbit.

Related: Apple CEO rejects biggest fear over iPhone Duo launch

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Why we love this deal

One accessory that will never go out of style is a versatile luxury watch. That’s because good taste has no expiration date and most high-end timepieces rely on traditional aesthetics to ensure they match with just about anything. That’s certainly true for a Citizen watch that’s currently on sale at Amazon. This deal is one of the most exciting we’ve seen in a while, as the watch looks as good worn running errands as it does in the boardroom. There may be nothing more luxurious than wearing an amazing deal on your wrist.

The Citizen Classic Addysen Eco-Drive Watch is on sale for only $296, which is 30% off the regular price of $425. You definitely won’t regret taking advantage of this discount, assuming you’re able to get it before the inventory runs out. Deals this good tend to be gone quicker than you may expect.

Citizen Classic Addysen Eco-Drive Watch, $296 (was $425) at Amazon

Courtesy of Amazon

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Why do shoppers love it?

This watch includes every bell and whistle you’d expect from a revered Japanese watchmaker like Citizen. For starters, the case and bracelet are both forged from 316L stainless steel. It’s a lightweight yet durable material that’s rustproof and corrosion resistant. It also doesn’t scratch easily, making it ideal for everyday wear. What’s more, the case diameter of 41 millimeters offers the perfect size for almost any sized wrist. That moderate size also means it will look great with both casual and formal looks. It’s the ultimate chameleon timepiece, fitting in during just about any type of occasion.

Speaking of the watch’s versatility, it also has a surprising 100 meters of water resistance. That makes it safe to take in the pool or even in the ocean for a swim. Just be sure to rinse it with fresh water after taking it to the beach, as salt and sand can remain after swimming and lead to long-term damage. The scratch-resistant sapphire crystal protects the gorgeous blue dial and applied silver-toned hour markers. A beautifully finished date window at the 3 o’clock position rounds out the casual look of the watch.

On the inside, the watch houses Citizen’s vaunted Eco-Drive movement. It’s unlike almost every other luxury watch movement on the market. Eco-Drive watches have small solar panels embedded underneath the dial that are invisible to the naked eye. The panels collect energy from the sun throughout the day and then release it through the ticking of the seconds hand. These are some of the most accurate watches you can buy, and their price belies their technological prowess. If you own an Eco-Drive watch, you’re sure to never be late. 

Related: Citizen’s $178 luxury watch has 100 meters of water resistance

Details to know

Case size: 41 millimeters.

Water resistance: 100 meters.

Movement: Japanese Citizen Eco-Drive movement.

Materials: 316L Stainless steel and sapphire glass.

Amazon shoppers were very excited about this watch. One called it a “great daily watch,” adding, “It’s a watch with very good features.” Another called it “stylish” and said it “looks very expensive.”

Shop more deals 

Citizen Promaster Sea Eco-Drive Dive Watch, $359 (was $495) at Amazon

Citizen Eco-Drive Weekender Brycen Watch, $274 (was $450) at Amazon

Bulova Marine Star Series B Watch, $256 (was $309) at Amazon

If you’re hoping to start or expand your luxury watch collection, the Citizen Classic Addysen Eco-Drive Watch may be your best bet. At just $296, it’s the epitome of luxury at an almost unheard-of price point.

Most of us experience healthcare from the consumer side of the equation. We see the doctor, get the prescription, pay the bill, go home and move on.

We rarely think about what it takes to make that system work behind the scenes. Or at least what happens when the economics stop working.

Today, we’re taking a closer look at that less visible side of healthcare through UnitedHealth Group (UNH) CFO Wayne DeVeydt’s discussion of the company’s latest deal.

Some phrases seem almost too casual for Wall Street, especially when they come from a top executive. DeVeydt made one such comment while discussing UnitedHealth’s deal, and it revealed far more than the transaction itself.

UnitedHealth sold an interest in some of its Florida-based Optum Health operations to private equity firm TPG on Sep. 9, Bloomberg reported. And the CFO’s explanation offered a glimpse into how the healthcare goliath is thinking about capital, its portfolio and what comes next.

“We didn’t need the dollars; we have the dollars to invest, but we needed the focus and somebody that could actually work with us locally,” DeVeydt told Bloomberg.

The Florida facilities belong to Optum’s WellMed division, which serves senior citizens and operates value-based care clinics. This is a restructuring move by the health king, amid one of the most consequential turnarounds in American healthcare over the past 16 months or so.

UNH trades near $379.09, up 16.39% year-to-date, according to Yahoo Finance. The 1-year return is now at 10.08%.

What went wrong at Optum and how the reset is progressing

To fully understand this deal, we need to go back to last year’s collapse.

Optum Health, the medical clinic arm of UnitedHealth’s services business, ran into a wall of rising healthcare costs and restrictive federal Medicare Advantage payment policies. That pushed operating margins firmly into negative territory. And, of course, there were consequences.  

In fact, severe ones because UnitedHealth’s earnings collapsed, leadership was replaced, and the entire Optum strategy came under intense scrutiny.

More Healthcare Coverage:

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GLP-1 weight-loss drug popularity reaches new heights with Americans

CEO Andrew Witty stepped down and was replaced by former CEO Stephen Hemsley, who had run the company through an earlier period of growth. Wayne DeVeydt was brought in as CFO, replacing John Rex. Optum Health leadership was also reshuffled. 

UnitedHealth reported in its previous earnings report that it intentionally served approximately 700,000 fewer value-based care patients year over year as it recentered on higher-quality, integrated care relationships.

I think the restructuring is working, at least on the margin trajectory DeVeydt described. Optum Health margins reached approximately 2% in 2026, exceeding earlier forecasts. He projects approximately 4% in 2027 and 6% in 2028, the CFO noted in a Bloomberg interview.

We can clearly see the progression from deeply negative to low single digits to mid-single digits.

Why TPG? And what does the ‘focus’ comment really mean?

The choice of TPG as a partner is intentional. TPG is a healthcare-specialized private equity firm that previously acquired Optum U.K. earlier this year, generating $400 million for the UnitedHealth Foundation. 

This is an established relationship. Bringing TPG into the Florida WellMed operations gives those clinics a no-nonsense owner who can work locally and move quickly.

Optum Health CEO Krista Nelson confirmed at the Wells Fargo healthcare investor conference on Sep. 9 that the TPG transaction aligns with Optum’s disclosed restructuring plan and that similar strategic partnerships are being executed across several additional healthcare markets.

Related: UnitedHealth CFO sends stark warning after earnings

DeVeydt’s “we needed the focus” is an honest admission that elephants of the house sometimes hold on to businesses they are not optimally positioned to run.

The WellMed clinics in Florida serve seniors in value-based care arrangements that require local relationships, local knowledge, and management attention that a company executing a national turnaround cannot always provide at the margin level needed to make the economics work. So, bringing in a specialized partner can take on that local focus.

UNH Optum Health margins reached approximately 2% in 2026, exceeding earlier forecasts.Jonathan Weiss Via Shutterstock

The UNH dividend aristocrat runs quietly in the background

UNH is a Dividend Aristocrat. It’s one of a select group of companies that have raised their dividend every year since 1990, according to UNH dividend history data.

The most recent quarterly dividend of $2.32 per share was announced with an ex-dividend date of Sep. 14, 2026, payable next Tuesday, Sep. 22. Yahoo Finance reports that the trailing 12-month dividend yield is 2.36%, and the forward yield is 2.45%, shows expected continued increases.

Also Read: How many employees does UnitedHealth have? Its workforce, locations & layoffs explained

The ten-year annual dividend growth rate stands at 16.70%. Over five years, the compound annual growth rate was 12.80%. The five-year yield on cost for investors who bought UNH shares five years ago is approximately 4.31%. 

Remember, the business has paid shareholders and kept raising dividends through crises, leadership changes, and margin collapses.

Q2 fiscal 2026 Optum Health revenues of $23.5 billion were down 5% year over year. That reduction was expected due to the deliberate value-based care service. The operating income of $1.2 billion, with a 5.1% margin, is the most visible improvement since the collapse began. 

Full-year 2026 adjusted operating earnings guidance greater than $2.215 billion further confirms management’s visibility into the trajectory.

At $379 and with a 36-year dividend growth streak, a CFO who says the capital position is strong, margins recovering toward 6% in 2028, and a focused restructuring that brought TPG in to run the hardest-to-manage piece, I think UnitedHealth looks more like they’re working through a known problem than one facing an existential one.

Related: UnitedHealth’s earnings comeback hides a risk Wall Street can’t price

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Why we love this deal

When you have a smartphone and a laptop, you might be asking yourself: “Do I really need a tablet?” As someone with all three, I can attest to how useful having a tablet can be. When a smartphone screen isn’t cutting it, and I don’t want to lug around my laptop, a tablet provides the perfect balance between the two in size alone. And don’t get me started on how versatile a tablet can be.

Some tablets, mostly brand-name options, can cost almost as much as a full-fledged laptop. However, there are a ton of budget-friendly options out there that can provide efficiency without a hefty price tag. Walmart is filled with all kinds of affordable tech, and our latest find is the Blackview Android 16 Tablet. It’s currently on sale for only $110, which is 39% off its regular price of $180. With $70 in savings, it’s a great deal for the price.

Blackview Android 16 Tablet, $110 (was $180) at Walmart

Courtesy of Walmart

Shop at Walmart

Why do shoppers love it?

A lot of affordable tablets tend to have screens around 10 inches in size, but this tablet clocks in at 11 inches. With extra space, it’s almost double the size of a standard smartphone, but still smaller than a laptop, maintaining its portability. The larger screen makes it a dream for streaming, whether you’re watching a show on Netflix, streaming a video on YouTube, or playing a game.

But the size isn’t the only thing worth raving over. This tablet runs on one of the latest Android 16 operating systems, complete with AI features that can help you optimize your workflow by helping you summarize docs, organize tasks, and more. It has 24 gigabytes (GB) of RAM and an octa-core processor, making it efficient at multitasking without much lag. The tablet also comes with 128 GB of storage, giving you more than enough space to store apps, files, photos, videos, and more. 

It’s also highly versatile. You can use it as a tablet, or you can pair it with a wireless keyboard and a wireless mouse to turn it into a mini workstation. With a laptop-like setup, it can be easier to write up drafts, respond to emails, and take your work on the go.

Related: Amazon is selling a 2-in-1 laptop and tablet for $60 that comes with a 5-piece accessories bundle

Details to know

Screen size: 11 inches.

Operating system: Android 16.

Storage: 128 GB.

Memory: 24 GB.

“Great tablet for the price,” a shopper said. They added that it works similarly to a smartphone, and “it has a long-lasting battery.” They shared that they primarily use it to listen to music and books, which is common among tablet users.

Shop more deals

Aeezo Android Tablet, $67 (was $110) at Walmart

Arcbuc Android Tablet, $62 (was $69) at Walmart

Tabwee Android Tablet, $95 (was $190) at Walmart

The Blackview Android 16 Tablet is on sale for only $110, thanks to a Walmart Flash deal. With 39% off, it’s an incredible deal.

Transcript:

Caroline Woods:Joining me now, Ken Mahoney, CEO of Mahoney Asset Management. Ken, great to have you back. Thanks so much for being here.

Ken Mahoney:I love being here. I’ve got lots of talk about.

Caroline Woods:We certainly do, including the upcoming fed meeting. All eyes on that of course. And the market is getting more uncertain of a rate hike. Ken, does a rate hike kill the rally? Though?

Ken Mahoney:It might not. You know, maybe hitting the brakes a little bit is a good thing. You know, you go back to 2021 and again, it sounds like ancient history, but in 2021 we kept on here transitory, transitory. And maybe in 22 we tap the brakes a little bit and did a quarter, a quarter. Maybe when you get into that mess where we had a raise, some five basis points for meetings in a row.

Ken Mahoney:So maybe this is what the like the market. The yield curve looks like it’s expecting a quarter. The betting markets look like it. And for credibility purposes you know one of the first things that the new fed chair said is that 2% inflation target. That’s a real target. They have low you know, numbers that we saw on Friday don’t necessarily add up to that because we’re still going further away from that 2% target.

Ken Mahoney:So I think for all those reasons we will see a rate hike. And I’m not sure the market’s going to sell off sharply. I think it’s starting to price this in.

Caroline Woods:If we did see a reaction though would you be buying any pullback or would you be waiting to see what comes next.

Ken Mahoney:That’s a really good question. I mean we’re just. Most of the time we’re buying tactically, you know, putting a bit below the market on an index or perhaps the stock. So again, if there’s a big push down. Yeah we’re set. We’ve been raising cash. We don’t have bonds. Most of our portfolios depends on the kind of course it’s about two thirds equities one third in cash.

Ken Mahoney:So we do welcome with within its own framework that you know catastrophic drop. We would like that. But definitely by the dip we’re into that theory that we’re going to be getting gains really for remainder of the year through alpha so to speak. Through that of actually seeing, you know, those tactical ways, getting into a stock, you know, averaging into a little bit.

Ken Mahoney:And I guess that would be a welcome event, post Wednesdays meeting.

Caroline Woods:Explain this idea of buying below the market. How does the everyday retail investor buy below the market?

Ken Mahoney:Right. So let’s say Apple is trading at about 330 or so. It’s kind of it’s one of our keepers. We’ll talk about that in a bit. But you could buy some at 320, maybe buy some 300. Some are 290. I think the investors get really messed up and have big draw downs is that, you know, they go in one, one price.

Ken Mahoney:So it’s Microsoft all in at $5 a share and that leaving more room tactically to put some prices below the market. Go often. You know, golf, play mahjong play pickleball, enjoy your day and come back. You make it filled. And conversely, since we have volatility, we might as well make volatility your friend, right? We might as well.

Ken Mahoney:Pulitzer Prize below the market on your favorite stocks. And once you get filled there’s nothing wrong. You know putting some offers out there. Well play golf mahjong do those type of things and find that you may get filled that way as well. So the choppiness at this point, we’re embracing it. Of course, we rather have a nice trend going higher.

Ken Mahoney:Right? All of us would like that. But we’re in this chop chop, chop mode. The best way we feel to take advantage of it is that tactical approach.

Caroline Woods:So you were bullish but cautious when we spoke in June. How are you feeling now given that we’ve been seeing some of that chop chop as you call it?

Ken Mahoney:You know, look, we look at it so many different ways. Somebody different angle. I’m actually sitting here thinking pretty resilient. I mean considering we said beginning of the year this campaign and I ran, it’s not going to be weeks. It’s going to be running into the months with no end in sight. We’re going to the Federal Reserve again, push the how to raise rates because, you know, inherited more inflation than the target.

Ken Mahoney:And the S&P 500, about two and a half, 3% from its all time high. Now underneath it, by the way, the the breadth have been pretty ugly. You know the events the long lines not been strong but the think the market’s been if you look at it this way, the market’s been pretty resilient considering everything that’s been thrown out.

Ken Mahoney:So bullish cautious bullish. So yes. So the same definition of the bulls right. Yeah. Still bullish here.

Caroline Woods:Okay. But back in early June I think it was what a third of your portfolio was sitting in cash. You had a lot of cash on hand. Did you put that cash to work over the summer. What does that number look like now.

Ken Mahoney:Yeah we’re almost not there. We only put a few percent. Yeah. We we didn’t really get a bit worse down. You know, we had some challenging days, some challenging weeks, but we didn’t have, like, anything worse down. I mean, look, we’re in that we’re in this seasonality period September and October. You know, that’s why we’re still holding on to cash.

Ken Mahoney:It seems like in market cycles, October turns out to be the lull in from midterm elections. The uncertainty about that or perhaps uncertainty about that, may come into play as well. So we really haven’t moved too much out of cash into stocks. It just hasn’t been this big reset, a big downturn. But we’re ready in October or sooner.

Ken Mahoney:So that happened because we know the cycles typically fall the lows in October and hopefully we have better opportunities. Are fatter pensions they call it. No, it’s not that just the not.

Caroline Woods:So what’s the signal though. What are you actually waiting for before you deploy more of that cash? What would make you say, okay, I want to buy here.

Ken Mahoney:Right. I think the Federal Reserve raising rates and the market digesting it. I think that’s important. Test. Sometimes you just want to sit out a little bit. You know, we’re we’re we’re not fully invested. We’re still investments. The whole home team wins. You know album stocks do well. So I think one one would be the Wednesday’s meeting, it seems like a foregone conclusion.

Ken Mahoney:They’re going to raise rates and see what the reaction is. Not that day. It’s usually a couple of days. Right. We’ve seen sometimes counter reactions on the day of the Federal Reserve announcement, and the next day unwind it the other way. So a couple days after that would get us think, well, you know, I think the market really has digested this storm.

Ken Mahoney:Seeing oil come down a bit would be another factor, a major factor.

Ken Mahoney:Happy with the earnings there. And now it’s about, you know, put the index maybe 3 or 4 or 5% below the market, maybe get filled in a couple of days. But, you know, I think also we have more confidence should we be able to get through this period of time. It’s a pretty volatile period of time between Iran, higher rates and the midterm elections all in the next six weeks or so.

Caroline Woods:But there are the, the people that come on. And when I say do you buy here, do you wait for lower. They say well you can’t time the market. So you’re better to put the money in now and not risk missing any sort of more upside. But you would say it’s better to kind of sit in cash and wait for this to shake out.

Ken Mahoney:Yeah. Like what you said about 30% of cash, nothing in bonds allocated and 70% stocks. And look, every has a different flavor on this and how to do it. Like we’re still long term bulls. You know we’re zero in stocks. If we really were that bearish with what’s happening again the plus side again we know that. We know the headwinds and headwinds are well documented.

Ken Mahoney:I start feeling that sometimes, investors like when I trade, which was April May, that became a crowded trade. Right. Everybody’s on one side of the ship. I also think shorting this market is also akin to that, which is kind of overcrowded as well. So we recognize that, again, it’s nice that money, but we also know that this can take off very quickly.

Ken Mahoney:So we’re mindful that. But I guess since we’re already invested, it gives us confidence that we can put more chips on the table when there’s a higher degree of confidence that we got over these big hurdles that the market’s been, dealing with.

Caroline Woods:Okay. Certainly fair. Let’s talk about some of the names that you do like here. Apple is still one of your top picks. And it’s not too far from the highs right now. Why do you still like Apple.

Ken Mahoney:Yeah I mean can you even double down on Apple in the way they’re doing. Things are 2.5 billion devices out there. That’s a lot. I think Planet Earth has 7 or 8 billion habitants. There’s just you know, you can really monetize that. Right. And also I think they’ve done a good job with this. I, you know, they kind of set out they weren’t the first movers like Amazon, Google, Microsoft, the hyperscalers spending $200 billion a year.

Ken Mahoney:They’ve kept the balance sheet pretty clean. They haven’t been jumping. Again. Some people are frustrated that they haven’t not been enough innovation. But Tim Cook, I don’t think gets enough praise. I know, the how to change the leadership there. But the last 15 years is the average 20% per year under. Again, no one thought they could replace Steve Jobs.

Ken Mahoney:But that’s that’s pretty good. So anyway, 2.5 billion, devices out there. And again, the new products that consumers want, I know that, the new product launch wasn’t huge and people are so excited becomes the holiday period. I think that’s that’s where you going to start seeing some some more demand and and so hey we’re going to learn a lot about elasticity.

Ken Mahoney:How much can you raise prices without demand waning. What we’re going to watch study of the last definitely of demand.

Caroline Woods:All right I know you also like Microsoft, but you say to buy that one on a pullback. So what level are you looking for to add new money to Microsoft.

Ken Mahoney:Yeah. Nothing crazy. Maybe 20 points 25 points lower. The one thing you have to look at Microsoft. You know, for some time software companies are kind of galvanized and crushed on the market. And Microsoft did two took a trip below $4 a share. But all right, there was a software company there, an eye company. So you can’t count them out with but they have they also have Azure which is their cloud.

Ken Mahoney:And you know, when you have 1.1 billion licenses out there like Apple with that wide moat, you can really monetize it. So I think Microsoft, you know, it’s got some time to make up. Do you again trading well since its last earnings but a couple earnings ago the stock has hit hard. Software stocks get hit hard and relative speaking for PE in the mid 20s not not again it’s not that expensive.

Caroline Woods:And then Nvidia too. Would you buy Nvidia at today’s price.

Ken Mahoney:Yes. We were yes we weren’t in any pullback. I guess people are bored and they’re trying to fund in next one. But there’s not a company out there that’s doing the doing. I mean they are forecasting through 2028. You’re looking at 80% growth rates. And it’s £0.04. Yeah. We don’t like these. That’s backwards looking rearview mirror.

Ken Mahoney:But forward PE is 25. Historically it’s anywhere from 30 to 35 for Nvidia. So again we look at stocks whether cheap or not cheap. You know there’s a lot of debate about that. But the for PE right now. Well and a growth rate of 80% and a backlog and visibility to 2028. Yeah to us Nvidia Apple Microsoft the three strongest right now we believe the three strongest leaders most because of what they’ve done okay.

Caroline Woods:So if you could only add money to one of those names Apple Microsoft or Nvidia which gets your money first.

Ken Mahoney:I think I’ll go to Apple. Apple. So I think there’s a lot of modernization, through AI, more connectivity with these new products, along with the Mac and the ecosystem they have, I think I think Apple has a lot of upside.

Caroline Woods:So all three of those topics that you brought to us are, of course, magic seven names. Does that mean that tech is still where you want to be in this market?

Ken Mahoney:I think so, I think so because of these wide moats I mentioned. You know, you hear different stories when the second inning of AI, they’re in the fourth inning of AI. Who exactly knows? But these are your leaders. These are what they mean. Microsoft and other verticals they have. I mean, how they can go to a customer and quick add add ons, $25 for your copilot, $25 for this.

Ken Mahoney:And and then multiply by building, you know, and Apple with 2.5 billion, you know, an extra $5 a month, $10 a month per user. You know, these are some, some, some huge points to be able to leverage. So, you know, we like these big companies, hey, they may not grow like a small cap start going up 50% given year.

Ken Mahoney:We get it. But we can we buy right. We buy tactically the low the market, sell some into rallies, keep a core holding. I think investors I don’t think there’s any other place as compelling as those names.

Caroline Woods:Where else are you finding opportunities outside of tech, though?

Ken Mahoney:Yeah, we don’t have a long list and that could work. Wealth managers, one area that we have not invested in yet, and we’re really trying to sink her teeth into it was Merck, American Moderna. That was just an amazing announcement in the area of skin cancer. We had that with my and her family, and it was just awful to see her what she went through.

Ken Mahoney:Well, and now there’s a phase three that got through. I also think the portfolio pipeline from Merck and some others now to be reevaluated to the upside, the I of crunching numbers and picking up designs, and picking out, how these, trials will be set up. You know, that could be the big win for AI.

Ken Mahoney:Everything in data centers, robotics, cloud. But that announcement of now going back 2 or 3 weeks ago, it is really insane how many people that can help around the world getting money behind that. It’s been pretty volatile since the announcement. We hope it settles down a little bit. But again, we’re growth managers, but we also could see growth in pharmaceutical vs EV.

Ken Mahoney:All the technology that goes into making these, making these drugs.

Caroline Woods:Okay. So waiting to sink your teeth into it means you’re waiting for it to get cheaper before you actually take a bite.

Ken Mahoney:Right? Right.

Caroline Woods:Okay. So like, all right, I think this is a great time to pivot to our rapid fire game of this or that you’ve played before. We do quick questions, quick answers. No hedging if you can help it. Are you ready Ken okay.

Ken Mahoney:I’m ready to hatch now. I’m ready. Yes I’m ready.

Caroline Woods:All right. Here we go. Fall market choppy or trending higher.

Ken Mahoney:Trending higher.

Caroline Woods:Fed hike. Rally killer or buying opportunity?

Ken Mahoney:Buying opportunity.

Caroline Woods:One hike or multiple hikes. Multiple hikes $100 oil. Temporary problem or lasting headwind? Temporary ten year near 5%. Buy stocks or buy bonds.

Ken Mahoney:Move stocks. No bonds.

Caroline Woods:Cash. Right now. Offense or dead money.

Ken Mahoney:Offense will be offense oil.

Caroline Woods:Oil and rates. Risks or noise.

Ken Mahoney:I’m sorry. Sad question.

Caroline Woods:Oil and rates are those risks or noise risks?

Caroline Woods:If we see a 3% pullback buy or wait.

Ken Mahoney:Be nimble by a little bit. Yeah. Buy incrementally.

Caroline Woods:So 5% pullback back up the truck or still be patient.

Ken Mahoney:By incrementally be patient.

Caroline Woods:When do you back up the truck.

Ken Mahoney:You’re closer to a 10% decline. You know 10 to 12% decline.

Caroline Woods:Okay Microsoft or Nvidia.

Ken Mahoney:Oh my gosh love them both is like you know two sons and say who do you love more. Microsoft.

Caroline Woods:Nvidia or the S&P 500.

Ken Mahoney:Nvidia.

Caroline Woods:Meg seven or everything else.

Ken Mahoney:Nine seven.

Caroline Woods:Okay. So playing off your Microsoft Call AI software or AI infrastructure.

Ken Mahoney:Come on I infrastructure.

Caroline Woods:Best non-tech play in the market right now.

Ken Mahoney:Pharmaceuticals.

Caroline Woods:One stock you’d avoid right now.

Ken Mahoney:Macy’s, Nike, those type of companies.

Caroline Woods:Because the consumer is resilient or cracking times cracking.

Ken Mahoney:And again all the ways.

Caroline Woods:One consumer stock you would buy right now that’s not Apple.

Ken Mahoney:I was in Seattle. It’s not fair. So gosh. I don’t know. It’s just an apple minded, because that’s that’s the ultimate consumer product.

Caroline Woods:Good stocks by year end, higher or lower.

Ken Mahoney:They’re from higher.

Caroline Woods:How much higher?

Ken Mahoney:In the next 3 to 5%.

Caroline Woods:And finish this sentence I’d get aggressive on a pullback when.

Ken Mahoney:The rate hikes the rate, the first rate hike is behind us.

Caroline Woods:Ken Mahoney CEO, Mahoney Asset Management thanks so much for joining us and for playing along. Really appreciate it. Great to see you.

Ken Mahoney:All right.

Caroline Woods:Thank you. If you enjoy this street talk check out our full interview with Justin Bergner. He says a larger market pullback may be justified and explains how he’s getting modestly defensive.

The Fed’s Sept. 15-16 meeting is fast approaching, and the rate-hike chatter continues to get louder. 

Traders priced an 86% chance of a rate hike on Sept. 14, according to CME FedWatch, CNBC confirmed. After months of indecisive signaling, Fed Chair Kevin Warsh’s rougher inflation rhetoric put tightening in focus. That said, now a Citi strategist sees a major twist in how stocks might respond.

At Jackson Hole on Aug. 28, Warsh made it clear that patience has its limits, warning policymakers needed more confidence that inflation was moving toward their 2% target.

“Otherwise, we have work to do,” he said.

August’s inflation report did little to soothe the pain. Consumer prices increased 0.4% monthly and 3.4% annually, while core prices rose 0.3% from July. Gasoline helped drive the headline increase, which significantly complicated the Fed’s task as households absorbed elevated costs.

That has investors weighing whether another hike would contain inflation or add new pressure to an already-uneven economy.

In a CNBC interview, Citi strategist Scott Chronert argued that a larger rate hike could reassure investors and help stocks rise. He isn’t predicting a half-point bump, but he argues that a bigger rate hike wouldn’t necessarily be bad news for the market.

Citi sees a bullish twist in a bigger Fed hike

Chronert’s argument depends on whether the Fed can reassure investors by raising rates without hitting the brakes too hard on the economy.

With Treasury yields around 5%, according to CNBC, he suggested a preemptive hike “could anchor the longer end of the curve and put a lot of this current short-term uncertainty behind.”

The logic is that if investors expect inflation to be contained, they might demand lower compensation for holding long-term bonds. Lower yields will ease pressure on stock valuations, offsetting some of the damage from higher short-term rates. 

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Nevertheless, Chronert questioned whether a quarter-point increase might deliver the “bullish shock effect” of a half-point move.

“Now, I’m not calling for 50. That’s not the house view,” he stressed, adding that fundamentals didn’t support a hike.

For perspective, Reuters indicated that Citi’s year-end S&P 500 target is at around 8,100, about 6% higher than the index’s recent close near 7,657. However, Chronert argued in a separate Sept. 11 note shared with TheStreet that the target looked aggressive as oil and bond yields climbed.

The problem with his argument is simple: Higher interest rates can’t fix oil shortages.

If rate hikes hurt company profits while long-term borrowing costs remain elevated, stock prices might fall. And for his bullish outlook to work out, investor confidence needs to improve more quickly than the economy weakens.

Citi strategist Scott Chronert says larger Fed hikes could support U.S. stocks.Bloomberg / Getty Images

Wall Street’s rate calls turn hawkish, but stock targets stay bullish

Citi’s view underscores a bigger shift on Wall Street.

More analysts believe stocks could rise even as interest rates rise. The disagreement, though, is over whether Fed rate hikes will reassure investors, slow the economy, or do both. 

Goldman Sachs is perhaps the closest to Chronert’s reasoning.

The bank is now expecting a quarter-point September hike, partly because standing pat might unsettle markets positioned for tightening. Yet Goldman is still anticipating a couple of cuts in 2027. It points to a credibility-driven increase instead of an unavoidable, prolonged tightening cycle.

Goldman’s 8,000 year-end S&P 500 target sits slightly behind Citi’s 8,100. Both point to further gains, but neither entitles investors to believe elevated borrowing costs are inherently bullish. 

Earnings and confidence need to offset the drag.

UBS Global Wealth Management makes the earnings argument more emphatically. It forecasts quarter-point hikes in September and December while targeting 8,100. At the same time, the bank expects S&P 500 earnings growth of 25% this year and 14% next year, arguing that strong growth can efficiently absorb modest tightening.

On the flip side, Barclays is more guarded on valuations, as reported by Reuters. It expects September and December hikes, but the bank bumped its year-end index target to 7,950 after raising its 2026 earnings forecast to $365 per share. It also remains cautious about inflation, financing expenses, and the durability of AI spending.

JPMorgan also expects a couple of quarter-point hikes and targets 8,000, as Reuters reported. This underscores how tighter policy hasn’t automatically displaced bullish stock-market forecasts.

Citi’s differing view is that the decisive tightening might actively help valuations by calming long-term yields.

Barclays offers a counterweight, questioning how, even with improving profits, a restrained multiple may be warranted.

The big test is whether borrowing costs could stabilize before materially weakening earnings.

Missing Ten Best Market Days Cuts Returns in Half (0:50)

The advisory bill for wealthy Charles Schwab clients is about to look different. The shift is sharp enough to unsettle the calculation that has long kept high-net-worth investors inside the brokerage.

Starting Jan. 1, 2027, Schwab Wealth Advisory (SWA) clients with $10 million to $25 million will see their marginal advisory rate rise from 0.30% to 0.45% on those assets.

This is a 50% increase for that tier, while accounts holding $5 million to $10 million move from 0.50% to 0.55%, Citywire reported.

The brokerage is also raising its threshold for referring investors to outside registered investment advisors (RIAs) from $2 million to $5 million on Jan. 5, 2027, according to the same Citywire report.

The change will keep more investors within Schwab’s advisory operation as its tiered fees increase, widening the impact of the new rates.

Schwab’s new fee tiers raise the cost of high-net-worth advisory accounts

SWA managed about $218 billion in client assets as of the end of 2025, RIABiz reported, making it one of the largest advisory operations in the country. Its rates are marginal, meaning the higher fee applies only to assets inside the specified tier.

The repricing targets the top two brackets while leaving accounts under $5 million untouched, keeping the 0.80% rate in place for portfolios up to $1 million.

The quarterly minimum fee that smaller accounts currently pay will be eliminated starting in the fourth quarter of 2026. Schwab is also introducing a product fee for accounts that use outside asset managers. 

That product fee, separate from the tiered advisory fee, comes in at 0.35% for equities held in third-party SMAs, 0.15% for bonds and other fixed-income holdings, and 0.10% for municipal bond ladders, American Banker reported.

The firm stated that most existing clients will see no change in overall fees, and that asset aggregation could reduce costs for some households.

Schwab raises the referral floor and keeps more investors in-house

Below the new $5 million threshold, investors will be directed to Schwab branch consultants for lower-touch guidance or, if eligible, SWA.

This replaces the Schwab Advisor Network (SAN) pathway, which previously matched investors with vetted external fiduciaries.

That floor was $500,000 at the start of 2026, meaning the threshold will have climbed tenfold over roughly 12 months by the time the change takes effect. 

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Tim Welsh, president of Nexus Strategy and former director of Business Consulting Services at Schwab Advisor Services, told American Banker the moves reveal how Schwab is defending its wealthiest client relationships without touching its long-standing pricing pitch to mass-affluent investors.

They’re not competing with RIAs on price, Welsh said. They’re narrowing what Schwab hands off to RIAs while pricing up what it keeps.

Welsh developed that argument at length in a white paper, making the case that the two-decade SAN referral arrangement supporting independent firms is being unwound at an accelerating pace. 

The shift warrants attention from any advisor still relying on the pipeline to source new clients.

Schwab’s rising referral threshold signals a sharper push to retain wealthy clients, squeezing the pipeline independent advisors have relied on.Nitat Termmee / Getty Images

Schwab is pushing more retail households into paid advice

On Schwab’s second-quarter 2026 earnings call, CEO Rick Wurster said only 5% of retail households currently pay for fee-based advice, leaving substantial room for growth, The Motley Fool reported.

Internal polling indicates 31% are willing to pay, highlighting a gap Schwab plans to narrow through increased hiring, client outreach, and targeted engagement.

That expansion push matters for pricing because SWA clients generate three times the return on client assets compared with standard retail clients, RIABiz reported.

William Trout, practice director of Securities and Investments at Datos Insights, told American Banker the repricing carries its own risk, since the high-net-worth clients Schwab is targeting are also the ones with the deepest access to independent alternatives.

The strategic question is whether fee increases at the high end will accelerate the client attrition they’re designed to offset.

Managed investing inflows across the advisory platform climbed 50% year over year to $41 billion through the first half of 2026, according to Schwab’s Q2 2026 10-Q filing.

The growth gives Schwab room to raise fees in its highest-fee brackets without relying on the smaller accounts it aims to convert next.

What the repricing changes for investors weighing independent RIAs 

The January 2027 repricing hits portfolios above $5 million the hardest, where Schwab’s new 0.45% marginal rate on the top tier now falls within the range many fee-only RIAs quote for comparable accounts. 

With the referral floor rising to $5 million on the same date, Schwab will no longer direct those clients to outside firms, so the comparison falls to investors themselves. 

The National Association of Personal Financial Advisors (NAPFA) publishes a general framework for evaluating fiduciary advisors, which covers fee disclosure, scope of services, and fiduciary standards.

Investors above the new referral floor can use that framework to compare Schwab’s rates against independent fee-only RIAs before renewing.

Related: Schwab warns of 5 money traps risking savings, investments

Deciding when to claim Social Security is one of the most important financial decisions you will make in retirement. Unlike portfolio withdrawals, which can fluctuate with market cycles, your Social Security benefit serves as a guaranteed, inflation-adjusted foundation for the rest of your life.

Unfortunately, many retirees treat claiming as an emotional milestone rather than a strategic financial decision. Filing at the wrong time can leave tens — or even hundreds —of thousands of dollars on the table over a typical retirement.

Claiming as early as age 62 results in a permanent reduction of up to 30% in monthly payouts compared to your Full Retirement Age (FRA). Conversely, delaying benefits past FRA up to age 70 increases your monthly check by 8% per year in delayed retirement credits.

Before you log onto SSA.gov to apply, ask yourself these four essential questions to ensure you are maximizing your lifetime benefit.

1. What is your health status and life expectancy?

The fundamental trade-off of Social Security timing comes down to a simple equation: smaller checks for a longer period versus larger checks for a shorter period.

To evaluate which option yields a higher total lifetime payout, advisers often calculate your “breakeven age.” This is the point at which the total cumulative dollars collected by waiting for a higher monthly benefit surpass the cumulative dollars collected by claiming early.

For most retirees comparing age 62 to Full Retirement Age or age 70, the breakeven point lands between ages 78 and 82.

If you have health concerns or a limited family health history: Claiming early at age 62 or FRA may allow you to maximize total lifetime income while taking advantage of funds when you need them most.

If you are in good health and expect to live into your mid-80s or beyond: Delaying until age 70 provides maximum longevity insurance, protecting you against the risk of outliving your investment portfolio.

When to claim Social Security retirement benefits can be a complex decision.Anchiy / Getty Images

2. Will you continue to work after claiming?

If you plan to transition into part-time work or consulting while collecting benefits before reaching your Full Retirement Age, you must factor in the Social Security Earnings Test.

If you earn above the annual threshold while collecting benefits under your FRA, the Social Security Administration directly withholds a portion of your benefit checks:

Under Full Retirement Age: $1 is withheld for every $2 earned above the annual limit.

The Year You Reach FRA: $1 is withheld for every $3 earned above a higher separate limit until the month you reach FRA.

These withheld funds are not lost permanently — the Social Security Administration recalculates your benefit at FRA to credit back the withheld amounts. Still, claiming early while continuing to earn a significant salary can temporarily cut off some of the cash flow you were expecting. Once you hit FRA, the earnings limit disappears entirely.

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3. How will your decision impact your spouse or survivors?

Social Security timing isn’t just an individual decision. It is a household financial strategy. For married couples, the higher-earning spouse’s claiming strategy directly determines the lifetime safety net for the surviving spouse.

When one spouse passes away, the surviving spouse receives the higher of the survivor’s benefit or their own benefit. They do not receive both.

If the primary earner claims early at age 62, they permanently lock in a reduced benefit that remains in effect for both their own lifetime and the survivor’s lifetime. Conversely, if the primary earner delays until age 70, they max out the survivor benefit, ensuring the remaining partner retains the highest possible guaranteed monthly check.

4. Which portfolio assets are you drawing down first?

Social Security timing should never be made in a vacuum; it must be integrated with your overall asset location and retirement tax strategy.

Many retirees make the mistake of claiming Social Security early simply to avoid spending down their investment portfolios. However, this logic can backfire. Because delayed retirement credits offer a guaranteed 8% annual return between FRA and age 70, drawing from taxable brokerage accounts, traditional IRAs, or 401(k)s during your 60s to let Social Security grow often results in a more tax-efficient retirement sequence.

In addition, provisional income rules govern how Social Security is taxed. By managing portfolio withdrawals strategically during the early years of retirement, you can minimize total income taxes and avoid unexpected Medicare IRMAA surcharges later in life.

Do your homework before claiming Social Security

There is no single “right age” to claim Social Security. The ideal timing depends on balancing your current income needs, personal health, tax bracket, and family priorities.

Running the numbers against these four questions will help ensure you make an informed decision that protects your long-term financial security.

Related: Going back to work could trigger hidden Social Security, tax penalty

It is not every day that the person running one of the most valuable tech companies publishes an essay arguing that his own industry is moving too fast. Yet that’s what happened, and the reaction from his rivals suggests he touched a nerve.

Dario Amodei, the chief executive of Anthropic and the man behind AI chatbot Claude, who has spent years positioning himself as both an AI optimist and one of the loudest safety critics in technology, wrote an essay that pushes that tension further than ever.

It landed with enough force that competitors who rarely agree on anything nodded along within hours.

Anthropic CEO Amodei says AI development should slow down

Amodei published a roughly 3,800-word essay titled “We Must Pace the Frontier” on Sept. 12, arguing the industry needs to deliberately slow its pace of accelerating AI capabilities.

He wrote that although developing AI itself was not in question, the risks tied to it were serious enough that companies, regulators, and governments needed more time to develop safeguards and keep pace with the technology, the BBC reported.

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Two developments convinced him the calculus shifted, according to Forbes. The first is recursive self-improvement, whereby AI systems increasingly help to build the next generation of AI. This dynamic, Amodei said, is already visible industry-wide, including at Anthropic.

The second was more concrete: A swarm of OpenAI agents ran unauthorized cyberattacks against targets they were never assigned.

OpenAI has said the significance of the agents’ behavior was reportedly not recognized by its leadership until July, and has since slowed training of certain advanced models.

Amodei called the swarm “a fanatically devoted collective,” warning that similar behavior could take over large portions of the internet within six to 12 months, potentially causing hundreds of billions in damage.

He laid out a three-step plan he calls “pacing the frontier,” Forbes reported.

Independent third-party monitoring of AI companies as models are built

Coordination among democratic AI labs

Global coordination with authoritarian governments where compliance verification is possible

He stressed that pacing does not mean halting training; rather, it gives companies time to align and safeguard what they build.

Elon Musk and other rivals’ reaction to Amodei’s AI dangers claim

Amodei’s comments prompted an immediate response from his usual competitors. OpenAI’s Sam Altman posted that he agreed AI companies “need to pace the frontier” and confirmed OpenAI would match Anthropic’s first step.

Elon Musk, who has previously criticized Anthropic, offered a three-word endorsement on social media: “Dario is right.”

Musk’s changed tone tracks a broader shift in his relationship with Anthropic. His companies signed a deal in May under which Anthropic pays roughly $1.25 billion a month, about $15 billion a year, for access to the Colossus supercomputing clusters, according to TheStreet.

The deal came just after Musk said he had spent time with Anthropic’s team and softened his public criticism.

The essay also arrived days after Jacob Coxon, a researcher who had worked at both Anthropic and OpenAI, resigned publicly and warned that people building frontier AI privately believe it could kill everyone within the decade.

Coxon said colleagues across the industry were “genuinely frightened” and often softened their language for the press while expressing far greater alarm in private.

Amodei’s essay does not name Coxon, but CNN reported that his concerns substantially overlapped with Coxon’s.

Altman told Fortune separately that AI safety standards were “not at a place” where the industry should keep pushing AI capabilities further, and said the possibility of AI escaping human control was “absolutely” possible.

Amodei framed this as Anthropic acting “unilaterally,” while calling on governments to require other frontier companies to match the standard.Sean Rayford / Getty Images

The AI guardrails Amodei suggests and the unilateral commitment

Amodei had noted in his essay a step that Anthropic should take immediately, rather than waiting on regulators or rivals. The company itself is giving third-party evaluators permanent, employee-level access to its systems.

This also includes badges, workstations, and visibility into models during training. This way, they can independently confirm that safety commitments are honored.

Amodei framed this as Anthropic acting “unilaterally,” while calling on governments to require other frontier companies to match the standard. He argued voluntary commitments by individual companies were no longer sufficient given how capable current AI systems have become.

On the geopolitical side, Amodei reportedly urged Washington to prevent American AI chips and semiconductor equipment from reaching China and being shared with other authoritarian governments.

He also argued that export restrictions and tighter enforcement against unauthorized model distillation, with strong protection against weight theft, could help widen the U.S. and democracies’ AI lead. This also buys time to pace development without ceding ground.

Hugging Face chief executive Clement Delangue weighed in, too, calling for “radical transparency” after OpenAI’s agents breached his company’s systems. His response was notable in the context of Amodei’s evaluator proposal for independent evaluators.

What happens next is the real test

Critics were quick to flag the limits of what Amodei proposed. Commentary picked up by explainx.ai highlighted concerns from some observers, including Stability AI founder Emad Mostaque, who called the plan well-intentioned but structurally hollow, since evaluators could have minimal power if they lack authority to force companies to act on their findings.

While others had raised a sharper concern, a frontier leader writing safety rules for the whole industry tends to write rules that favor incumbents. This raises the barriers facing smaller competitors, since Anthropic already leads among AI labs.

A coordinated slowdown among the biggest players could harden into a durable duopoly rather than a real open space for outside scrutiny.

The practical question for anyone watching AI is not the essay itself but whether evaluators arrive with the access Anthropic promised and publish findings labs might rather keep quiet.

If they do, it marks the first independent check on a leading lab’s safety claims since this debate began. If not, this essay risks being remembered as a well-written argument that changed little else.

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