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Buzz and business impact: Where AI is delivering value
Artificial intelligence has become a popular tool for a significant number of senior living and care providers, with many leveraging this technology to create value for residents, patients and staff members alike. But sometimes AI can be used like a hammer in search of a nail, offering oversimplified solutions for complex challenges, experts warn.
NMSU College of Business to honor 2026 Hall of Fame recipients, community partners
New Mexico State University’s College of Business will celebrate accomplished alumni, valued corporate partners and community leaders whose careers and contributions have made a lasting impact at...
Everywhere Millionaires: The Overlooked Main Street Businesses Behind America’s Economy
Explore “Everywhere Millionaires” and how Main Street business owners in construction, logistics, and food service may build enterprise value over time.
Beyond Horizon: Science and competitiveness brief
As Brussels debates how to extract more economic value out of its investments in science and technology, this news tracker brings together the latest developments in EU and national R&I policies, as well as updates on how the worlds of research and industry are working together for a more prosperous Europe.If you have any tips, please email them at news@sciencebusiness.net.You can read the full archive of this blog here.
Newrez Turns Servicing Data Into Repeat Business For Brokers
Newrez is extending its homeowner-engagement platform to wholesale borrowers, giving brokers a potential path back to clients when another mortgage opportunity emerges.HomeHub is now available to protected wholesale borrowers, allowing homeowners to monitor estimated home values and equity, explore refinance and home equity opportunities, and search local listings.
Value of Things: Is it time to panic?
Who from the group of decision makers gets the blame for this?
Small business owners aren't losing their dream, but they're paying more to achieve it
Small business owners are continuing to combat inflation and rising costs, according to the newly released KeyBank (NYSE: KEY) 2026 Small Business Survey. The survey found that one-third (33%) of owners are absorbing rising costs out of their own paycheck rather than passing them on to customers underscoring the value they place on the relationships they've built.
Selling AI insurance was hard enough. Then they got into the cafe business
Corgi, valued at more than $5 billion, was forced to rein in its real estate expansion plans this month after a series of mishaps including a citation for rodents and departure of key dealmakers.
Hormel Foods to acquire Brakebush Brothers
Acquisition will expand Hormel’s capabilities in value-added chicken innovation.
Works by van Gogh and Cézanne up for sale in Sotheby's $450 million auction
A dozen Impressionist and post-Impressionist artworks valued at almost half a billion dollars are going up for auction | 1010 WINS
Works by van Gogh and Cézanne up for sale in Sotheby's $450 million auction
A dozen Impressionist and post-Impressionist artworks valued at almost half a billion dollars are going up for auction | WBBM Newsradio 780 AM & 105.9 FM
Works by van Gogh and Cézanne up for sale in Sotheby's $450 million auction
A dozen Impressionist and post-Impressionist artworks valued at almost half a billion dollars are going up for auction.
Debt service and the Pentagon. Private equity and the politics of the US housing market. The return of black lung disease & the Franco-Prussian War in color.
Thank you for opening your Chartbook email. RALPH BALSON. 1890—1964. Oil and enamel, signed. Source: Gavekal This going to hurt - the two 7s in the US: diesel and mortgage rates Source: Gavekal In the US housing market, costs are soaring and the role of corporate, private equity-backed buyers is high on the mid-term election agenda. HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $60. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe It is striking how, since 2020, big banks have dropped out of the political spotlight in the US. For contributing subscribers only. Subscribe Rates of the lung disease pneumoconiosis among working US coal miners have risen to levels not seen in nearly 40 years Source: Bloomberg Chinese Clean Technology Exports For contributing subscribers only. Subscribe Ralph Balson (1939) Portrait of Grace Crowley Cole, G. O. & Haseman, S. M., (2023) “‘The Substance of Paint’: Class and Materiality in the Work of Ralph Balson”, Open Library of Humanities 9(2). Ralph Balson (1890–1964) was an English plumber and house painter who emigrated to Australia in 1913 and subsequently became a key member of Sydney’s artistic avant-garde. He is credited with having the first solo exhibition of purely abstract painting in Australia in 1941. Despite his role in developing Australian non-objective painting, Balson remained principally a house painter, working on his art practice at weekends. In 1955 he retired on a state pension and became a full-time artist. Balson’s artistic education and methods were critically shaped by his working-class background. He did not travel abroad until 1960 and was an avid auto-didact. His materials, palette, techniques and compositional strategies were likewise informed by his trade. Balson’s profession as a painter-decorator made him conspicuous within the predominantly middle-class Sydney art scene, though his painting partner Grace Crowley considered it an advantage in their pursuit of constructive painting. This paper explores the impact of Balson’s trade on his trajectory towards pure abstraction. While his art was at odds with the predominantly figurative mode of class-conscious art in Australian Modernism, we argue that it is embedded in the experience of class through its creative adaptation of labour into aesthetics. Source: OLH Svetlana Alexievich, The Art of Oral History No. 1 Paris Review Issue 257, Fall 2026 Interviewed by Elena Kostyuchenko INTERVIEWER How were you able to go to Chernobyl? Did you need special papers? ALEXIEVICH It was a time of chaos. They let me right into the zone. … More than anything, there was confusion. Adamovich [Ales Adamovich, the Soviet Belarusian writer], I remember, persuaded Gorbachev to send in the scientists, who showed up without even bringing their shaving kits. They were told that there had been an explosion at a nuclear power plant, but for some reason they thought that they’d be there for only a day or two. The first time I went was several months later, and people kept telling me about things they didn’t understand—how the fishermen couldn’t find worms, because they’d burrowed deep into the earth, how the milk wouldn’t curdle at the cheese factories. The honeybees wouldn’t come out of their hives. The evacuations started, I think, in the first month. The old women hid, they wouldn’t leave. I mentioned radiation to one of them and she said, “I’ve seen that radiation, all right! It’s yellow with green in it. I saw puddles of it in my garden, and I told the other women, and we ran and looked, and she had it in her garden, and the other one, too!” God, it was wild, the way the mind made sense of it. There was a story going around about Gorbachev telling the scientists to show him the radiation. “We can’t, it’s invisible.” “But I want to see it!” I also ran into the soldiers who’d been flown in on helicopters from Afghanistan. I asked them, “What are you doing here with your machine guns?” They said, “We’re collecting the radiation, that’s what.” So you had some of them running around with their guns, others out in the village washing off firewood or burying soil in the soil. These were the kinds of things that exploded our worldview. They made you realize that culture was just a chest filled with old manuscripts. There were no books in there that could help me. Our philosophers turned out to be useless when faced with the unprecedented. Derrida, Baudrillard—philosophy fell silent. What was happening? How would we live with it? That’s when I decided it simply needed to be witnessed. Which is what I did. INTERVIEWER I wanted to ask about how you talk to people. … ALEXIEVICH Yes, we sit and we talk—about what interests me and about life in general. About love, about everything in the world. That way, what comes out is three-dimensional. If you cut straight to the part you need, which is what journalists do, it won’t be interesting, and it won’t be the truth, either. Not the whole truth. INTERVIEWER Do people always open up when you ask questions, or can questions get in the way? ALEXIEVICH You have to ask questions, of course. Your job is to scour away the banality and return people to their true selves, to make them face what they rarely tap into. With every new person, you have to find a new way to do it. When you ask an interesting question or you share what happened to you, you help people really think about what they’re saying and not just repeat whatever they’ve picked up from the newspaper. But not everybody is capable of it, not everyone wants to put themselves through that. Either the chemistry starts to kick in or it doesn’t. A person might be wonderful, but you can tell that the conversation just isn’t going to happen. You can try to push it, but it will be a product of your own intellect, rather than of that mysterious connection. Life doesn’t come from the mind. Some people I can call two years after our last conversation, and they’ll say, “Oh, Svetochka! I think of you all the time,” and we’ll start talking again. With others, that won’t happen. That doesn’t mean they’re not extraordinary people, just that you can’t connect with them. They might have some insight, but you don’t have the right antenna to pick up their signal. Source: The Paris Review Colorized Franco-Prussian war … the ruins of Strasbourg with a French photographer and his mobile dark room. Ralph Balson (1961) Matter Painting If you’ve scrolled this far, you know you want to click: Subscribe
Hyundai Mobis to sell lighting business to OPmobility in W600b deal
French auto parts supplier OPmobility has agreed to acquire Hyundai Mobis' automotive lighting business in a deal valued at 600 billion won ($443.8 million), as
SpaceX (SPCX): Can Its Business Justify Its Ludicrous Valuation?
Space Exploration Technologies Corp. (NASDAQ:SPCX) is not an easy company to value. It started as a rocket company, built a satellite-internet business that now reaches millions of customers, and is increasingly moving into artificial intelligence. Investors are now being asked to put a value on all three. That value is enormous. SpaceX is worth roughly […]
NFL cuts face-value prices for Commanders-Colts game in London after some fans paid full price
The Family Business Advantage: Third Quarterly Power Breakfast of 2026 explores how family businesses balance legacy and innovation
Photo by GFBJAnother successful Power Breakfast is in the books. The Greater Fayetteville Business Journal hosted its third quarterly Power Breakfast of 2026 on Tuesday, Sept. 29. Local leaders and decision-makers gathered to network and learn from the panel about how established principles drive long-term stability while allowing for operational evolution. The panel featured Managing Partner of Luigi’s Italian Chophouse & Bar, Nate Ernst; Inside Sales at Hubbard Supplyhouse, Mary Grace Hurley; Chief Operations Officer for Copiers Plus, Drew Smith; and CEO of Holmes Security Systems, Stephen Wheeler. The panel was moderated by Lauren Willets, director of the Family Enterprise Center at UNC’s Kenan-Flagler Business School. Throughout the discussion, the panelists returned to a common idea: family businesses thrive when they preserve the relationships and values at their core while remaining open to change.Each panelist shared personal stories that carried practical lessons. Stephen Wheeler emphasized the role of relationships with customers and employees, saying, “What makes a family business successful today is relationships.” Mary Grace Hurley echoed Wheeler’s sentiment, describing relationships as a lasting inheritance, including a customer connection that began when she was young and continued into her working life. “If something’s given to you, that’s going to cost you too,” added Nate Ernst. He explained this philosophy by sharing that, in his view, earning responsibility builds credibility and confidence.Another hot topic was the idea of tradition versus change. For these businesses that have been around for a century or even more, it can be difficult to escape the “we’ve always done it this way” caveat, but these speakers emphasized how change has been an integral part of their growth and longevity. A family business can honor its history without being bound by it.“Innovation and tradition–they don’t have to be competing with one another,” shared Hurley. She pointed to changes in how businesses operate, including the adoption of computers and new management practices. Ernst stressed that adaptation is essential, while Wheeler described how his family’s electrical contracting business had evolved into a security-focused company. The details of the work may change, but identifying and upholding core values is key to embracing change while maintaining the character of a business. “I think it’s just important to remember why you started in the first place. What was your mission? What are your core values? And to reevaluate those,” shared Drew Smith.In addition to the first-hand accounts and wisdom shared by panelists, Moderator Lauren Willets recommended two novels during the panel for those seeking additional educational resources. Those two novels are “Hug of War: How to Lead a Family Business with both Love and Logic”by Cathy Carroll and “In the Company of Family: How to Thrive When Business Is Personal” by Melissa Mitchell-Blitch. Preparing the next generation requires more than handing over a title or company. Wheeler argued that future leaders need genuine passion and a vested interest in the business. The panelists were in agreement that succession is a process, and there is not one clear answer for how to perfectly prepare for it. Leaders must cultivate readiness, keep communication open and make room for the next generation to earn responsibility while being sure not to neglect the business in the here and now. “Today’s Power Breakfast was one of our best events yet! Between the passion and in-depth knowledge of the panelists, the great audience questions and the guidance and expertise of Mrs. Willets, the conversation was both engaging and informative,” shared GFBJ Publisher Faith Hatton. “A lot of small businesses in Fayetteville are family-owned and grown, and it’s great to be able to spotlight some of the businesses that have stood the test of time by strengthening the next generation of leadership and preparing them for ownership. I hope everyone received some inspiration and ideas that they can bring back to their own businesses and organizations!”We thank everyone who attended this Power Breakfast and hope you’ll all join us for the next Power Breakfast on Dec. 8. Details about the event will be shared on our social media and in future email updates. To learn about becoming a Power Breakfast sponsor, contact the Greater Fayetteville Business Journal at 910.240.9697 or marketing@bizfayetteville.com.
Tarheel senators on board with Protect College Sports Act of 2026
(The Center Square) – Regulation of college sports, potentially corralling a volatile period of amateur athletes zooming forward with multi-million dollar deals and major conferences expanding their footprints as valued TV properties, includes the support of both North Carolinians in the U. S.
Doctoral graduate valued by storied sports teams
Pardon Chad Bohling for not being able to attend his Oct. 14 College of Doctoral Studies commencement ceremonies at GCU. Bohling, who successfully defended his […]
Satisfactory DLC Core Values will introduce cavernous constraints through new underground biomes
Core Values is Satisfactory's first "major expansion" and will sport a wealth of new factory buildings, tools, and creatures from the depths.
This surprising factor could reveal how compatible you and your partner really are, says science
According to a new study, scientists found that couples in romantic relationships share a taste in music more than they do personality traits and values.
State Fair of Texas brings lower prices, new attractions, more value options
From cheaper rides and games to over 200 food and drink options priced at $10 or less, the fair is putting a bigger focus on affordability.
State Fair of Texas brings lower prices, new attractions, more value options
From cheaper rides and games to over 200 food and drink options priced at $10 or less, the fair is putting a bigger focus on affordability.
Astrana Health Notifies SEC About Social Engineering Incident
Astrana Health, a managed services organization that helps healthcare providers deliver value-based, coordinated care to patients, has notified the U.S. Astrana Health, a managed services organization that helps healthcare providers deliver value-based, coordinated care to patients, has notified the U.S. Securities and Exchange Commission about a social engineering incident that exposed patient, employee, and provider information.
Scott Harris Addresses Potential Riley Greene Contract Extension
Scott Harris declined to discuss a Riley Greene contract extension Monday but made it clear how highly the Detroit Tigers value their star outfielder.
Roma ranked second in Serie A for roster value
Roma’s growth over the past year has been clear for all to see. After seven seasons of mediocre league finishes and qualification for the Conference or Europa League, the Roman club finally secured ...
The Value Of Basic Science Celebrated With The 2026 “Golden Goose” Awards
The 2026 Golden Goose Awards, an honor spotlighting obscure, often trivial sounding basic research that ultimately yields significant social benefits have been announced.
Caribbean Diet: Traditional Foods, Nutrition, and Cardiometabolic Health
Traditional and neo-traditional Caribbean food patterns emphasize locally produced plant foods, roots, legumes, fruits, and seafood, with observational evidence linking these patterns to more favorable cardiometabolic profiles. Nutrition transition, import dependence, changing food practices, and structural pressures are reshaping these diets, highlighting the potential value of culturally relevant and locally resilient food systems.
Beyond 'normal' and 'abnormal': Health checkup values show nonlinear links to future health care costs
As populations age and health care expenditures continue to rise worldwide, there is growing interest in understanding how routinely collected health data may help characterize future health care needs ...
Dave & Buster's Entertainment (NASDAQ:PLAY) CFO Acquires 4,000 Shares of Company Stock
Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY - Get Free Report) CFO Cory Hatton purchased 4,000 shares of the business's stock in a transaction dated Monday, September 28th. The shares were acquired at an average price of $6.50 per share, for a total transaction of $26,000.00. Following the acquisition, the chief financial officer owned 104,475 shares of the company's stock, valued at $679,087.50. This trade represents a 3.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
7wire Ventures Presents: Top of the Ladder Featuring Karoo Health Co-Founder & CEO Ian Koons
In our latest Top of the Ladder feature, we sat down with Ian Koons to discuss his path into healthcare, why cardiology has resisted value-based care for so long, what it means to build infrastructure rather than another app, how Karoo wraps care around patients between appointments, and where he sees the future of cardiovascular care.
How to use cybersecurity to increase your business’s value
Strong cybersecurity can also boost business valuations and inspire buyer confidence. Both sides of the transaction should treat cybersecurity as a key factor in building enterprise value.
Mayor Sarno joins Health Commissioner Caulton Harris to bring greetings at Department of Elder Affairs Hispanic Heritage Month Luncheon at the Ray Jordan Senior Center
Mayor Domenic J. Sarno was honored to join Health & Human Services Commissioner Helen Caulton Harris and the Springfield Department of Elder Affairs team on Friday to bring greetings at a special Hispanic Heritage Month Luncheon celebration with our seniors at the Raymond A. Jordan Senior Center. This special luncheon is a collaboration between the Raymond A. Jordan Senior Center and the North End Senior Center and celebrated Hispanic heritage and the valued contributions of our senior community. Members of the senior centers were invited for a vibrant day of music, dance, food, and culture. El Morro bakery provided lunch to members by our kind and dedicated Elder Affairs staff. Grupo Erupxion performed live music. Special thanks to host/emcee Joanna, the Springfield Department of Elder Affairs and the Council on Aging team for bringing us together to celebrate the beautiful mosaic of our Springfield. Mayor Sarno states, “We are always proud to celebrate the vibrancy and beautiful mosaic that is our Springfield community. On behalf of the City of Springfield, we celebrate and welcome the continued contributions of Hispanic Americans toward our community, including their cultural heritage, public service, and entrepreneurial spirit. I commend and appreciate this collaboration between the North End Senior Center and the Ray Jordan Senior Center to host this special luncheon in celebration of Hispanic Heritage Month for all our seniors to enjoy. ‘Que tenga buena salud y Dios te bendiga’ – Good health and God Bless.”
Bret Bielema Shows Urgency With Bobby Hauck Decision
Dismal defensive rankings forced an abrupt mid-season firing, proving the Illini head coach values immediate results over pride as he fights to save a crumbling season.
Nvidia Stock Rises As AI Chipmaker Plans Huge Share Buyback
Nvidia signaled that it believes its stock is undervalued by announcing a huge increase to its share repurchase program.
High Tide Named to Report on Business Ranking of Canada's Top Growing Companies for Sixth Consecutive Year
High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it placed No. 315 out of 375 companies listed on the 2026 Report on Business ranking of Canada's Top Growing Companies, with a verified three-year revenue growth rate of 66% over the 2022 to 2025 measurement period. Highlighting the Company's increasing profitability profile, Ad
Amazon Business: Simplifying B2B Purchasing at Scale
Daniel Silverfield, Head of Value and Selection for Amazon Business, shares how AI tools and supplier consolidation help companies save time and money
Makhanya price tag soars after Rangers move
Massive jump in value for Rangers summer signing as Celtic midfielder says team still recovering from Champions League exit...
Is your will worthless? Here’s how to add value
A will is as valuable as you make it. Thought, intention and effort today pay off after you’re gone.
Brookfield Business (TSX:BBUC) Rebound Hopes Meet A Fair Value Reality Check
Brookfield Business (TSX:BBUC) has been drawing attention after its share price closed at CA$35.96, with recent returns showing mixed momentum over the past week, month, and past 3 months for investors tracking the stock. For context, Brookfield Business is coming off a weak stretch, with the share price down 27.31% year to date and 15.15% over the past 3 months. However, the 3-year total shareholder return of 84.94% still points to a much stronger longer-term outcome than the recent pullback...
HSBC Private Bank's CEO In Optimistic Mood Over Business Growth, Strategy
The volatile market environment and changes wrought by AI and other forces aren't distractions but opportunities for private bankers to demonstrate their value. That's the stance of the HSBC Private Bank chief executive who was appointed at the start of this year.
South Texas Health System (@stxhealthsystem)
0 likes, 1 comments - stxhealthsystem on September 27, 2026: "Support Recovery, Strengthen Your Future: South Texas Health System, the Rio Grande Valley's largest integrated healthcare network, is seeking passionate physical therapy professionals to join its nationally recognized inpatient and outpatient rehabilitation teams at STHS McAllen, STHS Edinburg and STHS Heart. Physical therapists play a vital role in helping patients regain strength, mobility and independence following illness, injury or surgery. If you're passionate about empowering patients on their road to recovery, STHS offers an opportunity to make a lasting impact every day. Join a collaborative team dedicated to exceptional patient care and helping individuals return to the activities and quality of life they value most. Ready to move your career forward? View current openings and apply today at the link in our bio.".
Astrana Health (ASTH) Rebound Meets A Narrative That Still Sees Undervalued Shares
Astrana Health (ASTH) has been under the spotlight since rebranding from Apollo Medical Holdings in February 2024, with investors now weighing its three-segment healthcare model against recent share price swings. Recent trading paints a mixed picture for Astrana Health. The 1-day share price return of 5.60% and 7-day gain of 5.85% come after a 90-day share price decline of 19.23%. The 1-year total shareholder return of 22.54% contrasts with a 5-year total shareholder loss of 59.33%,...
Protect College Sports Act favors universities over players
Universities are seeking federal help to avoid paying athletes, but the free market should decide their value.
Protect College Sports Act favors universities over players
Universities are seeking federal help to avoid paying athletes, but the free market should decide their value.
Maha split shows all is not well with Kennedy’s US health revolution
Republicans worry Make America Healthy Again is an electoral liability while activists claim it has abandoned its values
Visa (V) Following The UPT Deal Is The Business Payments Story Now Fully Valued
Visa’s UPT partnership puts business payments in focus Visa (V) is back in the headlines after UPT announced it will use Visa’s Currencycloud platform to power virtual EUR and GBP IBANs and real-time foreign exchange for corporate clients. Visa’s share price has cooled slightly in the short term, with the stock down 3.7% over the past month after a solid 7.5% 90 day share price return, while the 1 year total shareholder return of 9.8% and 3 year total shareholder return above 60% point to...
Flutter Entertainment (FLUT) Could Be 40% Undervalued On Revenue Beat And EPS Miss
Flutter Entertainment (FLUT) just delivered a mixed earnings update that drew a sharp response from the market, with revenue ahead of analyst expectations but earnings per share falling well short of forecasts. That miss on profitability lands on top of a weak stretch for Flutter Entertainment, with the share price down 18.23% over the past 30 days and falling 61.87% year to date. The 1-year total shareholder return has declined 70.29%, suggesting momentum has been fading as investors...
Oscar Health: Market Share Gains Are Only Part Of The Plan
Oscar Health (OSCR) buy thesis: $45–$49 fair value on ACA growth, improving margins and Lucie upside.
Global Business Travel Group (GBTG) Looks Fairly Valued, Is The Upside Already Priced In?
Global Business Travel Group (GBTG) is drawing attention after its recent share price move, with the stock last closing at US$9.50. Investors are weighing that price against the company’s current fundamentals and recent returns. Recent trading action fits a broader pattern for Global Business Travel Group, where a strong year to date share price return of 26.33% sits alongside a 1 year total shareholder return of 16.71% and a 3 year total shareholder return of 72.73%. This suggests momentum...
Guardant Health (GH) Stock Could Be Undervalued Despite Its 5x Run
Guardant Health has turned into one of the stronger movers in U.S. healthcare, with the share price now reflecting very optimistic expectations in the eyes of many investors. With that backdrop, the central question is whether the current valuation is properly supported by the cash flows the business can generate over time. The stock has delivered a very large 3 year return of about 5x, which puts real pressure on the cash flow story to support such a move. Recent coverage gains for Guardant...
Raiders’ defensive makeover has an unexpected star leading the charge
Nakobe Dean is wasting no time proving his value in Las Vegas, as the Raiders’ $36 million linebacker has quickly emerged as the “glue” of their revamped defense.
Oscar Health (OSCR) Stock May Be Undervalued Following Its AI Marketplace Launch
Oscar Health has delivered very strong long term gains for shareholders, yet the recent pullback raises a simple question for anyone looking at the stock today: is the current price still in line with what its earnings can support? Over the past 3 years, Oscar Health has produced a very large share price return, which puts extra focus on whether its earnings can justify that kind of move. Management is talking about higher future earnings per share and better medical loss ratios, which can...
Roma star Manu Kone’s value now nearing €100m
Serie A side Roma saw Manu Kone get linked with a host of Premier League teams in the summer. They managed to keep hold of him right after Chelsea made concrete advances and this decision has paid off...
Microsoft Excel can now put multiple values in a single cell
Microsoft is changing one of Excel’s most familiar rules: a cell no longer has to contain just one value. The company has introduced lists, arrays in cells and nested arrays, giving users new ways to keep multiple pieces of information together without turning them into a single block of text. The features are currently rolling […]
Intel Panther Lake Teardown, 18A, BSPD, GAAFET, SemiAnalysis STEEL
Panther Lake debuts the first commercial implementation of backside power delivery (BSPDN), introduces Intel’s first iteration of gate-all-around (GAA) transistors, and showcases their advanced packaging capabilities with its Foveros-S assembly. With Panther Lake, Intel’s manufacturing arc has shifted from nebulous roadmaps to shipped silicon, a significant milestone on their long road back to competitive semiconductor manufacturing. To evaluate the extent of Intel’s comeback, we tore down Panther Lake. The SemiAnalysis STEEL teardown lab breaks down advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. WE’RE HIRING: Architecture, floorplan, packaging, manufacturing, and labs experts. Opportunities from system to transistor and everywhere in between. Check out our Careers page. Our teardown traces 18A from its four-sheet RibbonFETs (Intel’s marketing name for GAAFETs) and gate stacks through contacts, frontside and backside wiring, and the bonded carrier. We explain how these material and integration choices improve gate control and reduce resistance, while adding capacitance, thermal resistance, and process complexity. Our measurements put Panther Lake’s 18A compute logic and TSMC N3E GPU logic at similar logic density. However, 18A does not lead TSMC N3P, N2 or Samsung SF2 in peak density. Panther Lake’s CPU cores are incremental updates, and the high-end GPU still uses TSMC N3E. Panther Lake assembles one compute tile, one GPU tile, and one I/O tile atop a passive base tile using Intel’s Foveros-S advanced packaging. Both compute tile variants use Intel 18A. The Xe3 GPU options are a 4-core GT1 tile on Intel 3 and a larger 12-core GT2 tile on TSMC N3E. Both I/O tile variants use TSMC N6. [1], [2] Our analysis centers on the PTL-U compute tile, both the 4-core and 12-core GPU tiles, as well as the 12-lane I/O tile. In conventional chips, power and signal are routed through the same frontside metal stack towards the device frontend. Power rails consume scarce routing resources near the transistors, while tall via stacks carry VDD and VSS from the coarse upper wires to local rails. Backside power delivery (BSPD) moves the main power network behind the transistor layer, to the backside, separating it from frontside signal routing. We covered BSPD and its impacts in 2024. [3], [4], [5] Intel’s BSPD implementation, branded as “PowerVia”, routes power through dedicated backside metals to nano-TSVs, which connect those rails to local source/drain (S/D) contacts. Implementing that separation requires Intel to build the interconnect stacks from both sides of the wafer. The frontside comprises the M0-M14 signal stack, while the backside comprises the BM0-BM5 power stack. M0 and BM0 are closest to the transistors. The nano-TSVs connect the two sides, but Intel patterns and etches each via from the front after forming the contacts. A narrow via runs from the side of the contact deep into the silicon substrate. Intel then completes the frontside signal metal stack, bonds the wafer to a carrier, flips it and removes the original substrate until the buried via tips are exposed. The backside metal stack is then deposited directly on the revealed vias. The nano-TSV and backside-via profiles taper in opposite directions because Intel forms them from opposite sides of the wafer. The transistor structures form the FEOL. Local contacts and nano-TSVs connect them to the wiring. M0 begins the frontside interconnect stack. The silicon carrier remains attached above the frontside interconnects. It supports the device wafer during substrate removal and backside processing and remains part of the finished chip’s thermal path. PowerVia removes the main power distribution from the congested frontside metals, routing supply through shorter and wider backside wires. Its lateral landing still occupies area in the standard cell, so it recovers less cell area than a direct backside contact. [3] Nano-TSVs beside the logic devices carry VDD or VSS from the backside power network, while signal connections continue upward through the frontside metals. Backside Interconnects Samsung SF2 data is included for comparison to Panther Lake’s within this article. SF2 is the incumbent GAA foundry node but lacks BSPD, serving as a useful reference to evaluate 18A. A full teardown of Samsung’s S26 products, processed on SF2, will be shared soon.Nanosheet-cut EDS comparison. The PowerVia supply path runs from the backside Cu rails through Mo-lined W nano-TSVs to the local transistor contacts. In this cross section, the tapered connection spans roughly 150 nm from the contact level to BM0. The Ta liner confines Cu and promotes adhesion to the surrounding stack; the AlOₓ etch stop controls the next dielectric etch above the rail. Dielectric beneath the ribbons electrically separates the devices from the backside wiring and removes the conducting silicon body below the channel. [6] AlOₓ serves as an etchstop (ES), enabling endpointing and protecting the underlying layers. Low-volatility aluminum fluoride reaction products resist the fluorinated plasma, allowing a thin AlOₓ film to protect the metal while the surrounding low-k dielectric is removed. [6], [7]. While the BM0 and layers above the M1 lines show double AlOx layers, Our SMIC N+3 teardown showed single AlOₓ layers. SMIC uses a simpler local AlOₓ substack, while the remaining cap and etch sequence provide the required landing protection. So why double layers? The closely spaced AlOₓ doublets provide two protected endpoints in the etch sequence. Intel documents an AlOₓ/SiN/AlOₓ stack that explains the benefit. The main dielectric plasma etch stops on the first AlOₓ film; a selective wet clear opens that film; a second plasma etch removes the intermediate SiN and stops on the second AlOₓ film. The final wet clear exposes the metal landing surface. SiN is the intermediate dielectric in Intel’s published example. [8] The second stop protects the metal through a cap breakthrough. Wide openings can etch faster than narrow ones, and etch depth varies across the wafer. Metal under an early-clearing opening would otherwise be exposed while other openings still need more etching. Staged protection widens the process window and reduces metal erosion, corrosion and void formation. [8] TSMC documents AlN/AlOₓ/SiOC/AlOₓ above Cu, with AlN blocking Cu diffusion, and a simpler AlN/SiOC/AlOₓ variant that omits one AlOx film. [9] Levels with different opening sizes, aspect ratios, pattern densities and cap materials need different etch margins. A double AlOx stop is useful where another protected endpoint justifies the added processing. The extra film adds formation, selective opening and cleaning steps, plus another set of interfaces to control adhesion, moisture, and stress. These blanket films are opened through the existing via pattern, so each film does not require another lithography mask. AlOₓ adds parasitic capacitance when it replaces lower-k dielectric; two thin AlOₓ films can nevertheless contain less AlOₓ than one thick film. Total thickness, placement, and theintermediate dielectric determine the electrical cost. Deposition chemistry also changes AlOx permittivity and residual hydroxyl content, which can oxidize the underlying metal. [7], [8], [10], [11] The backside stack separates into relatively fine BM0-BM2 wiring near the devices and coarser BM3-BM5 power distribution. The largest pitch increase occurs between BM2 and BM3. BM0’s pitch closely matches the logic-row height, fitting local power delivery to the cell rows. Higher levels aggregate current through larger conductors: routing density becomes less important than low resistance and current capacity as the network approaches the package. This hierarchy provides wide power wiring for the power delivery network without consuming scarce frontside signal-routing resources. [3] The SemiAnalysis STEEL teardown lab breaks down advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. WE’RE HIRING: Architecture, floorplan, packaging, manufacturing, and labs experts. Opportunities from system to transistor and everywhere in between. Check out our Careers page. Frontside Interconnects Intel 18A combines Mo-lined W contacts and nano-TSVs with a separate backside Cu power network. Samsung SF2 keeps power on the frontside, using Ti-based contact interfaces and Ta-based barriers and Co liners around Cu wiring. In 18A standard-cell rows, backside power rails supply the devices through nano-TSVs within the cells, freeing frontside routing resources. Samsung’s M0 accommodates both power and signal connections. From the device toward M0, the connection runs through a Ti-based S/D interface, W contact fill, a Mo-lined W via, and the Cu M0 wire. Mo supplies a conductive nucleation and adhesion layer for W, replacing the resistive TiN liner used in conventional W integration. This increases the effective conduction volume within the feature while retaining W fill and its established polishing, cleaning and etching processes. Intel’s Mo/W patent describes this integration tradeoff. The nano-TSV uses the same Mo-lined W construction in the backside supply path. [12] The move from TiN to Mo is an incremental change. While a full Co or Mo fill can also reduce the volume lost to liners in very small features, it requires new integration schemes that increase complexity and risk. Cu remains attractive for wider wires due to its low resistance. As wires and vias shrink, the diffusion barrier consumes an increasing fraction of their cross-section. [12], [12], [14] Intel uses Co/Ru liners at M0-M1, Co at M2-M4, and Nb at M5-M9. The lower-level liners help Cu adhere and reduce void formation during trench fills. Applied Materials’ Endura has new thermal control that facilitate wetting process, so the thin film continuity is good enough that good capillary pressure will drive Cu atoms to the via bottom without voiding. Intel’s choice to use Nb is particularly interesting. Intel’s Nb patent describes a conductive diffusion barrier intended to reduce the barrier’s contribution to resistance relative to conventional Ta-based barriers, particularly at via bottoms where all current crosses the barrier. The patent pairs Nb in coarser levels with the option of lower-cost PVD processing. [15], [16] The upper metal layers support thicker barriers formed through physical vapor deposition (PVD) despite its worse coverage and uniformity. Meanwhile, the lower metal layers require thinner barriers deposited through conformal atomic layer deposition (ALD). Co/Ru adds another material interface and requires controlled deposition and Cu fill. Changing liners and barriers by metal layer allows Intel to optimize interconnect resistance, process complexity, and reliability. [15, 16] RibbonFET, Intel’s name for its gate-all-around FETs (GAAFETs), replaces the FinFET’s vertical fins with four stacked horizontal silicon nanosheets, allowing the gate to surround the channel on every side. The path to GAAFET begins with the planar transistor. A planar MOSFET places the gate above the channel between its source and drain. Pairing an NMOS with a PMOS transistor creates a CMOS inverter, in which the NMOS pulls the output low for a high input, and the PMOS pulls it high for a low input. The gate must retain electrostatic control of the channel to ensure clean switching. As gate lengths shrank, the drain began to compete with the gate for that control, increasing off-state leakage. Electrostatic control was restored through an architectural evolution that raised the channel into a vertical fin and wrapping the gate around three sides. Called “FinFET”, this new architecture packed more effective channel width into a smaller footprint. Further scaling made it harder to maintain both drive current and leakage within smaller cells, and reintroduced the same problems planar MOSFETs faced. Nanosheet GAAFETs close the fourth side by replacing the vertical fin with a stack of horizontal nanosheets, each surrounded by the gate. The tighter electrostatic control suppresses leakage at shorter gate lengths while stacking adds effective channel width within the cell footprint. In a FinFET process, channel width changes in discrete steps as designers must add or remove whole fins. Nanosheet width can instead be adjusted continuously within the process’s design rules. Wider sheets increase drive current, while narrower sheets reduce capacitance at the cost of drive current. Intel 18A uses stacks of four nanosheets each and varies their widths across logic and SRAM. At the process level, adding more sheets to each stack increases effective channel width and drive current, but complicates fabrication. RibbonFET vs MBCFET Samsung began GAAFET production in 2022 with SF3E, following with SF3 and now SF2. Its ‘MBCFET’ provides a useful structural comparison with Intel’s first RibbonFET implementation. [17] STEEL is digging deeper into SF2, used in the Exynos 2600, and TSMC’s GAAFET N2, used in Apple’s A20 Pro, in upcoming newsletter articles. We’re throwing some teasers on X. Let’s compare Samsung SF2’s MBCFET with Intel 18A’s RibbonFET. Subscribe Even to the untrained eye, Intel’s extra nanosheet is obvious. Intel stacks four ribbons to Samsung’s three. Samsung’s sheets are much wider in these fields, so both sheet count and width matter to the available channel perimeter. Sheet width also changes which silicon surfaces carry current. On conventional (001) silicon, wide nanosheets emphasize the broad top and bottom surfaces, favoring electron transport; the larger sidewall contribution in a narrow sheet favors hole transport. Thinner sheets improve gate control but increase confinement and scattering. This makes width and thickness part of the NMOS/PMOS balance, alongside strain and threshold voltage. [18], [19] GAAFET designs like 18A use different work-function-metal (WFM) stacks for NMOS and PMOS. Around each ribbon, a thin SiOx interfacial layer separates the silicon channel from the HfOx high-k dielectric, with La providing dipole tuning and the WFM wrapping the dielectric. NMOS uses a TiAl-based stack, while PMOS uses TiN WFM. W fills the remaining gate trench, providing a lower-resistivity path where the work-function layers are no longer needed. In this field, the PMOS stacks leave room for W between ribbons, while the NMOS stacks occupy more of those gaps. A silicon-based dielectric marks the P/N boundary, allowing the PMOS and NMOS gates, sharing the same gate trench, to be processed sequentially. Fast logic paths, retention circuits, and SRAM need a family of threshold options. Changing threshold without substantially changing device dimensions, capacitance or fabrication complexity is valuable. FinFET processes typically use different work-function-metal stacks. In a four-ribbon GAA stack, the narrow sheet-to-sheet gap limits how much WFM can fit around each channel. La in the gate dielectric creates interfacial dipoles at the SiOx/HfOx boundary, shifting effective work function and tuning threshold voltage. This gives Intel another control alongside its NMOS and PMOS WFM stacks. Low-threshold devices improve critical-path drive; higher thresholds reduce leakage elsewhere. Dipole tuning is especially useful in GAA because it changes threshold without consuming the narrow intersheet gap with thicker WFM. Precise control of La incorporation, diffusion and interface quality has long been a challenge, limiting viability in high volume production but is now seen from every leading-edge foundry. Intel’s patent describes depositing a dipole-forming oxide above HfOx and annealing it toward the interfacial oxide before completing the work-function and fill metals. This separates threshold tuning from the space available for metal. Newer research addresses the thermal cost: imec’s 2026 dipole-middle research inserts the shifter between two HfOx depositions, shortening the diffusion path while protecting SiOx during patterning. [20], [21]Matched-cut EDS, Intel 18A (left) vs. Samsung SF2 (right). Intel retains raised source/drain epi beneath its contacts, while Samsung recesses W deep into the epi to form a V-shaped Ti-lined interface. The deeper contact increases metal-to-semiconductor area and shortens the current path from the lower sheets, reducing contact and spreading resistance. It also removes epi volume and brings the contact etch closer to the channel ends. Retaining more epi preserves the material available for strain transfer, especially from SiGe into PMOS. These geometries balance contact access against stress engineering and etch margin. [22], [23] Samsung stacks three sheets to Intel’s four ribbons, and both processes use sheet width to tune drive strength. In our Samsung cross-sections, widths range roughly from 19 to 30 nm in the NPU rows and 37 to 50 nm in the CU cell. The Samsung nanosheets taper, with the widest sheet at the bottom and the narrowest at the top. Both processes use HfOx gate dielectric and Ti-based work-function stacks, with Al in the NMOS stack. In the Samsung devices shown here, the dielectric and WFM occupy the intersheet gaps, leaving W above the top sheet. Intel’s PMOS stack leaves more room between ribbons, and W fills those gaps while the thicker NMOS stack leaves W mainly in the upper trench. Gate-stack EDS maps. The W between Intel’s PMOS ribbons provides a conductive path close to the lower gates. Where WFM fills the entire gap, the gate still surrounds the channel, but voltage reaches it through the more resistive work-function films. Thinner WFM and dipole tuning preserve room for low-resistivity fill; Mo and Ru are alternative fill metals being developed for further scaling. [24] A masked, sequential WFM flow explains the different gate heights and inter-nanosheet fill. The proposed sequence below shows how separate NMOS and PMOS work-function steps produce that geometry. Enabled by the BSPDN process, Intel replaces the dense-logic silicon subfin with dielectric, removing the parasitic conduction path below the ribbons and reducing substrate-related capacitance. A retained silicon body as in classical, non-SOI, planar and FinFET designs needs junction and punchthrough-stop engineering to suppress leakage. Dielectric isolation makes that leakage less sensitive to the subfin doping profile but adds removal and fill steps. It also weakens the direct thermal path through silicon, making the contacts, metal stacks and package more important for heat extraction. [24], [26] Fluorine is concentrated around selected Intel device structures in the maps. WF6 is a standard precursor for W nucleation and fill, while barrier films protect adjacent dielectrics from fluorine attack. Low-fluorine W processes reduce the residual-F burden. Chloride-based precursors avoid introducing F during W deposition, but require control of chlorine attack, nucleation and fill quality. The integration target is a continuous, low-resistance W path with a thin protective liner and minimal chemical damage to the surrounding stack. [20], [27], [28] The SemiAnalysis STEEL teardown lab breaks down advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. WE’RE HIRING: Architecture, floorplan, packaging, manufacturing, and labs experts. Opportunities from system to transistor and everywhere in between. Check out our Careers page. We measured cell height, gate pitch, metal geometry, and ribbon dimensions at the XTEM sites shown below. The tables group these dimensions by site and device polarity. Our “sheet cuts” cross the silicon channel and show the ribbons end-on. “gate cuts” run along the channel through successive gates. The 18A logic cell dimensions point to a five-track logic library while the N3E and Intel 3 cell dimensions evidence a seven-track logic library. The DDR-PHY uses wider M0 wires and much larger spacing than core logic. That trades routing density for lower wire resistance and weaker coupling between neighboring nets. The geometry suits the current delivery and coupling requirements of analog, clock, and I/O circuitry. PowerVia lets 18A combine a compact cell height with wider M0 geometry by moving the main power rails off the signal-routing tracks. That relaxes local wire scaling while preserving a small cell footprint. Cell height and gate pitch set the geometric density; pin access and routability determine how much of it a real block can use. [29] The biggest takeaway from our gate-pitch measurements is that Intel 18A compute logic and TSMC N3E GPU logic have similar density in the Bohr representative-cell model. The 18A example is 18.6% denser than the Intel 3 GPU example. Gate pitches are nearly identical across the three sites, so cell height drives most of the difference. The Bohr model combines a four-transistor NAND2 spanning three gate pitches and a 32-transistor scan flip-flop (SFF) spanning nineteen pitches, weighting their densities 60:40. The sensitivity column shows how independently changing cell height and gate pitch by ±1 nm changes the result. This compares representative cell geometries; whole-die density also depends on cell mix and placement. The 18A P-core gives M0 substantially more metal cross section than the N3E vector engine. Treating each profile as a trapezoid gives 2.63 times the area per line and 1.84 times the area after normalization by routing pitch. The larger section reduces the geometric contribution to line resistance and lowers current density for a given current. Taller and wider wires also add capacitance, so circuit delay depends on the balance of resistance and capacitance. The DDR-PHY has less metal area per routing width than the 18A core fields, while remaining above N3E. [30] Area = height × (top CD + bottom CD) / 2, including liners. Area/pitch normalizes by routing width. Taper is the symmetric sidewall angle from vertical, with the largest angle belonging to the DDR-PHY. Compute tile The measurements show how ribbon dimensions and gate-stack geometry vary across the compute tile and between NMOS and PMOS to balance channel drive, gate load and the space needed for the dielectric/WFM stack across logic, SRAM and the DDR-PHY. Width mainly changes available channel perimeter; thickness also changes electrostatic control and carrier confinement. Gate-stack thickness then determines the space left for low-resistivity fill P-core and LP E-core logic Both the P-core and LP E-core use multiple nanosheet widths. Widths are measured on high-magnification XTEMs while wider-field images demonstrate additional width choices within the LP E-core. Multiple widths are expected even within an LP E-core. Timing-critical paths, buffers and cells with different fanout need different drive strengths. The lower-magnification fields show this width diversity beyond the sites quantified in the table. L2 and L3 SRAM GAA gives SRAM designers another way to balance the pull-up (PU), pass-gate (PG), and pull-down (PD) transistors. FinFET bitcells set device strength through fin count while GAA adds nanosheet width as a sizing knob. In a 6T SRAM cell, a strong pull-down relative to the pass-gate limits read disturbance, while a strong pass-gate relative to the pull-up improves writability. During a write, the pass-gate and write driver pull the node storing “1” below the inverter trip point. During a read, the pull-down holds the node storing “0” low. Bias, threshold voltage, mismatch and assist circuitry set the remaining margin. FinFET high-current cells commonly use a PU:PG:PD fin-count pattern of 1:2:2, a device-sizing ratio rather than a current ratio. Ribbon width lets Intel balance SRAM strengths without adding whole fins. The L2 cell uses its narrowest ribbons for PU and widest for PD, improving writability and read stability respectively. Intel’s disclosed HCC operates without assist; its denser HDC uses negative-bitline write assist. Pulling the selected bitline briefly below ground increases pass-gate overdrive so it can overpower the pull-up at lower supply voltage. That buys density and low voltage writability at the cost of boosting circuitry, switching energy, and additional voltage stress that must be controlled. [31], [32] Four rectangular ribbons give the perimeter = 8 × (width + thickness), before corner rounding. PG/PU is 1.49 and PD/PG is 1.16. The L3 structures closely resemble L2 in layout and cell height. Fewer L3 nanosheet widths are tabulated because fewer high-magnification images were available. DDR PHY The DDR-PHY trades density for controlled analog behavior and reliable off-chip signaling. It contains drivers, receivers, delay circuits, and calibration logic that set drive strength, sampling time, and voltage margin. Repeated four-sheet devices with similar widths fit the use of regular transistor units for matching and programmable drive. Its wider local wiring provides room for current delivery and separation of sensitive signals, while consuming more area than a dense core-logic grid. The layout serves the memory channel’s electrical requirements as well as digital logic density. [33] The SemiAnalysis STEEL teardown lab breaks down advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. WE’RE HIRING: Architecture, floorplan, packaging, manufacturing, and labs experts. Opportunities from system to transistor and everywhere in between. Check out our Careers page. Intel 3 GPU devices Vector engine logic Intel 3’s XVE logic uses two-fin PMOS and NMOS devices with power rails in M0. Its cell height and M0 pitch give a seven-track geometry, two tracks more than the 18A logic. One-fin groups also appear among the two-fin devices. Intel 3 L2 SRAM The Intel 3 L2 SRAM uses the familiar HCC sizing pattern: one PU fin, two PG fins, and two PD fins. N3E GPU devices Vector engine logic The N3E XVE field contains repeated two-fin devices with seven-track cell geometry. N3E remains a FinFET process, giving Panther Lake a direct FinFET-to-RibbonFET comparison. N3E L2 SRAM The N3E L2 SRAM uses the same PU:PG:PD fin-count pattern of 1:2:2. Panther Lake-U follows Lunar Lake’s floorplan quite closely. Both pair 4 P-cores with 4 LP E-cores and NPU, media and display engines in similar locations. Lunar Lake also uses Xe2, the direct predecessor to Panther Lake’s Xe3 GPU. This makes Lunar Lake the most direct basis for our comparisons. Arrow Lake differs in core count and uses the older Xe-LPG GPU architecture, so we only use it where it offers a more direct component-level comparison. Compute tile Panther Lake compute-tile floorplans remain sparse even months after launch. Intel 18A’s backside metal and dielectric stack must be removed without damaging the underlying structures before a clean transistor-level floorplan can be imaged. Most published die shots hide or heavily process the background, but we are quite proud of the die shot we achieved and are excited to show the work we have done. We measured the areas of the key components on the compute tile and compared them with their Lunar Lake predecessors on TSMC N3B. These help us to capture changes in block area and compare the two chips across process nodes and designs. Our total tile areas exclude the scribe-line area. The compute-plus-GPU subtotal below uses the PTL-U compute tile and GT1 GPU; it excludes the I/O tile and passive base. Individual block areas use the boundaries marked on the floorplans The compute-plus-GPU row is recomputed from the displayed PTL-U and GT1 areas. Component rows use their stated per-region counts and are not an additive partition of the whole tile. The P-core area remains almost unchanged between Lunar Lake and Panther Lake, despite L2 capacity increasing from 2.5 MiB to 3 MiB. Arrow Lake uses the same Lion Cove core as Lunar Lake but also has a 3 MiB L2. Cougar Cove fits 20% more L2 into the same P-core area. The larger private cache keeps more of each core’s working set close to its execution units, reducing access to shared L3 and DRAM. Extra capacity adds storage leakage and lookup energy, so designers balance it against avoided lower-level accesses. The shared P-core L3 cache also shrank by 14.8%. [2] Cougar Cove combines a similar footprint with Intel’s reported power-efficiency improvements. RibbonFET’s tighter channel control reduces leakage, while PowerVia reduces supply droop and allows tighter voltage guardbands. [1] Darkmont’s four-core LP E-core cluster is 5.0% smaller than Skymont’s on Lunar Lake, with most of the reduction in its L2 regions. The 1 MiB region shrank by 8.4% and the 1.5 MiB region by 14.9%. The tag arrays also use one fewer visible row. Tags identify which memory addresses the data array holds, so rearranging them changes the cache’s layout and wiring without requiring less data capacity. [2] The LP E-cores share one L2. This pools capacity and avoids duplicating all the cache machinery, but the four cores contend for its banks and bandwidth. Their separate cluster also keeps light work away from the performance cluster and its L3, allowing that larger domain to sleep. [1], [2] Cache area includes more than the storage cells. Tags identify each line, decoders select rows, sense amplifiers read the small bitline signal, and wires connect to the banks. Splitting an array into smaller sections shortens wordlines and bitlines, improving access speed, but duplicates peripheral circuits. Panther Lake’s smaller cache regions therefore reflect the complete memory implementation, including how much of each region is devoted to storage. [34] Unlike Meteor Lake and Arrow Lake, Panther Lake has no separate SoC tile. The NPU, LP E-cores, memory controllers, PHYs, media and display engines now share the compute tile. This removes an active die and keeps CPU memory traffic on one die. The cost is moving PHY and I/O-related circuitry onto 18A: drivers, receivers and analog circuits must still meet external voltage, loading and signal-integrity requirements, so their area does not shrink like dense digital logic. [1], [2] The biggest shrink comes from the NPU, which occupies 36.9% less area. NPU 5 consolidates the same total INT8 MAC count into half as many neural compute engines. Each of the three NCEs has a larger MAC array to make the complete NCE envelope 22.6% larger than an NPU 4 engine. Consolidation also halves the number of scratchpads and SHAVE DSPs, from 12 to 6. The MAC array handles matrix multiplication and convolution, while SHAVE executes vector and custom operations that fit the array poorly. [1], [2], [35] The paired floorplans identify each NCE envelope and its scratchpad, MAC, and SHAVE regions. Each measured MAC polygon is counted once per NCE in the area accounting below. The scratchpads store weights, activations, and intermediate results near the MAC arrays, allowing repeated use without fetching them again from DRAM. Halving their number delivers the largest measured area saving but leaves less local storage for the same total MAC count. Layers that no longer fit locally require smaller working tiles or more transfers of intermediate data. The benefit depends on keeping the enlarged arrays busy while managing that tighter storage budget. [36] NPU 5 also adds native FP8. Using half the operand width of FP16 reduces storage and transfer demand, helping workloads fit the smaller local memory budget. Lower precision and format-dependent range make scaling and model validation part of deployment. Hardware activation functions further reduce work that would otherwise occupy the programmable DSPs. [1], [2] Microsoft requires an NPU to deliver at least 40 TOPS for Copilot+ PCs. Both Lunar Lake and Panther Lake meet this threshold, but Panther Lake uses significantly less silicon. GPU tiles Panther Lake is Intel’s first product with Xe3, its latest GPU architecture. It offers two different GPU tiles: a smaller GT1 tile with 4 Xe3 cores on Intel 3 and a larger GT2 tile with 12 Xe3 cores on TSMC N3E. Panther Lake allows us to compare the same GPU architecture across both Intel 3 and TSMC N3E. Wildcat Lake adds a third Xe3 implementation on Intel 18A. A future newsletter will detail Xe3 and its implementation differences across all three process nodes. GT2 scales Xe3 to a different physical layout, with render slices arranged vertically instead of GT1’s horizontal arrangement. Slice placement sets the distances to shared cache banks and the D2D interface. Those wires consume area and add delay, so scaling the number of Xe cores also requires a new balance of cache placement, routing and timing. [1] What’s immediately obvious is that the GT2 tile on TSMC N3E has much smaller Xe cores than GT1. These block areas include logic, caches, and routing. An Xe core on the GT1 tile is ~69% larger than one on Lunar Lake, and ~55% larger than one on GT2. Intel 3 therefore uses substantially more area per Xe core. The block-area gap exceeds the measured logic and SRAM density gaps, bringing routing, timing targets, cell mix, and floorplan allocation into the comparison. The measured vector/matrix engine region is almost unchanged between Lunar Lake and Panther Lake’s GT2 tile. Xe3 retains eight 512-bit vector engines and eight 2048-bit XMX engines per core. Its gains also come from feeding those engines more effectively: more resident threads hide stalls, and variable register allocation lets shaders trade registers per thread against the number of threads kept active. [1] The shared L1/SLM capacity increased by 33% from 192 KiB to 256 KiB, while its area increased only 5%, raising effective density by 27%. L1 retains reused cache lines, while software-managed SLM lets a thread group share data locally. Both reduce traffic to more distant memory. Allocating more SLM per group can also limit how many groups reside on a core at once. [1], [37] The GT1 tile carries 4 MiB of L2 against 16 MiB on the GT2 tile. GT1 divides its L2 cache into four 1 MiB banks, while GT2 uses eight 2 MiB banks. Each bank contains 128 macros, but each N3E macro stores 16 KiB, twice the Intel 3 macro’s 8 KiB capacity. The N3E macro is only 54% larger while holding twice as many bits, giving it 30% higher density: ~23.7 Mbit/mm² versus 18.3 Mbit/mm². Including bank-level circuitry, the gap widens to ~16.9 Mbit/mm² on GT2 versus ~10.4 Mbit/mm² on GT1. GT2 gains density with its macros storing more bits per unit area, and those macros occupy more of each cache bank. Larger macros spread decoder and sense-amplifier overhead across more storage, while a more compact bank layout reduces the share spent on control and routing. The compromise is longer wordlines and bitlines that carry more capacitance. [34] I/O tile Panther Lake uses two I/O tile variants, both fabricated on TSMC N6. The smaller one provides 4 PCIe 5.0 and 8 PCIe 4.0 lanes and serves lower-tier systems as well as those without a discrete GPU, while the larger one adds 8 PCIe 5.0 lanes, bringing the total to 20 lanes, for discrete-GPU connectivity. Panther Lake SKUs with the larger 10- or 12-Xe GPUs use the smaller I/O tile. [38] The smaller I/O tile adds a PCIe 4.0 block and a Thunderbolt block to Lunar Lake’s I/O layout, providing four additional PCIe 4.0 lanes and another Thunderbolt 4 port. Its repeated N6 blocks retain nearly identical areas and layouts. Reusing these proven PHYs and controllers avoids porting and requalifying external interfaces on 18A, where faster digital logic offers less benefit to circuits constrained by the off-chip link. [38] SemiAnalysis’s teardown lab (STEEL) dives deep into the world’s advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. We’re hiring technical experts from system to transistor and everywhere in between. Check out our Careers page. Panther Lake offers scalability and modularity through its disaggregated packaging that partition compute, GPU, and I/O silicon into separate tiles allowing for a suite of tile configurations. This partitioning makes the package part of Intel’s node economics as it determines how much leading-edge wafer area each product consumes, which functions can remain on other processes, and how much configuration freedom Intel can offer from a shared set of tiles. Furthermore, fabricating the compute and GPU tiles separately confines the new 18A process to the compute tile and allows graphics and I/O to use other, more established, and more cost-effective processes. For Panther Lake, the GPU and I/O tiles are assembled alongside the compute tile on a passive silicon base using Foveros-S. Intel’s current technology brief lists a nominal 36 µm pitch for Foveros-S. Through-silicon vias (TSVs) in the base connect the fine wiring above to the larger package connections below. The functional tiles sit side by side on that passive base in a 2.5D configuration. [39] Our cross-section through the compute and GPU tiles shows the package’s wiring hierarchy. Microbumps connect each active tile to the passive silicon base; its fine redistribution layer (RDL) carries the short, dense tile-to-tile links. TSVs carry connections through the base to the package substrate, which fans them out to the much coarser motherboard solder joints. The base supplies interconnect, while computation remains in the active tiles above it. [39] At the compute-tile edge, the higher-magnification inset shows a local microbump spacing of approximately 25.24 µm and a feature width of 12.33 µm. These local spacings are finer than Intel’s nominal Foveros-S value. The X-ray fields further confirm tighter neighboring bumps, consistent across every die-to-die area found on each tile. Additional X-ray analysis is offered after the paywall. Putting the memory controller beside the CPU removes the D2D transfer that CPU memory requests required in Meteor Lake and Arrow Lake. This avoids the extra transmitter, receiver, and link traversal, saving interface energy and latency. Panther Lake’s separate GPU still crosses a D2D link to reach DRAM, so its larger local caches also help contain package traffic. [1], [40] Smaller dies are less likely to contain a random fatal defect, and screening them before assembly prevents one bad tile from consuming a complete package of good silicon. Reuse also spreads design and qualification work across more products. Against those gains, Intel pays for the passive base, D2D circuits, extra bonding and test steps, and losses during assembly. Cost per working product across the portfolio captures the combined effect of wafer yield, reuse, test, and assembly. [29] Wildcat Lake packaging Intel launched Core Series 3, formerly Wildcat Lake, on 16 April 2026 for value mobile and edge systems. Wildcat Lake keeps 18A but removes the passive base and combines more functions on one die to simplify the package. The two products therefore reveal two distinct ways to commercialize the same leading-edge process. [41] Wildcat Lake’s 18A die combines up to two Cougar Cove P-cores, four Darkmont LP E-cores, two Xe3 cores and a smaller NPU. A separate platform-controller die supplies I/O, connected through UCIe, Intel’s first processor implementation of the standard. Consolidating graphics remove a tile boundary and the passive base, reducing assembly complexity for a modest-bandwidth value product. It also ties CPU and graphics scaling to the same die, giving up Panther Lake’s ability to swap in a much larger GPU. [42], [43] In July 2021, Intel CEO Pat Gelsinger set out an ambitious process roadmap aimed at regaining performance leadership by 2025, later described as five nodes in four years. Five years and one CEO later, Intel’s comeback story is not as unambiguously positive as Pat may have hoped. [44], [45] Intel once set the pace for process technology, bringing high-k metal gate technology and FinFETs into volume production years ahead of the rest of the industry. Its 22 nm FinFET process reached consumers with Ivy Bridge in 2012. [46] Intel’s integrated device manufacturing (IDM) model allowed its architects and process engineers to co-optimize products and processes. Starting with Sandy Bridge, Intel dominated x86, while AMD struggled with Bulldozer. That lead faltered at 14 nm and broke at 10 nm. Intel targeted a massive 2.7× density increase, but the node arrived years late and required several revisions before it could support Intel’s full lineup. This delay forced Intel to stretch 14 nm across six generations, while TSMC moved ahead in process technology and AMD recovered in x86. By 2019, Intel was still shipping 14 nm across most of its product stack, with its 10 nm client ramp focused on Ice Lake mobile processors. Meanwhile, TSMC was shipping N7 and N7+, and AMD’s Zen 2 compute chiplets used N7 to raise core counts and improve efficiency. Intel’s process failures were central to its decline, but unsound business decisions furthered their downward slide. Product delays compounded product mistakes, pushing client, server, and FPGA roadmaps off schedule. Several attempts to enter AI (Nervana and Gaudi) and networking (Tofino) also failed to establish lasting businesses. Intel’s recovery has focused on consumer CPUs and advanced packaging. Tiger Lake, Alder Lake, Lunar Lake and now Panther Lake have restored Intel’s consumer roadmap. On the process side, Intel 4 shipped with Meteor Lake, Intel 3 with Granite Rapids and Sierra Forest, and Intel 18A with Panther Lake. Intel has also made advanced packaging part of its foundry offering. However, Intel is still playing catch-up in servers. Several Xeon generations arrived years late and trailed contemporary AMD and Arm server CPUs in performance, efficiency, and core count. The process roadmap is back, but Intel does not hold the same process-technology leadership position it held prior to 10 nm. The introduction of gate-all-around nanosheets and backside power delivery are two of the biggest changes to transistor integration in a decade. Intel took on both changes at once: 18A paired its first RibbonFET with PowerVia in Panther Lake. Panther Lake is a substantial manufacturing milestone. Our cross-sections show how RibbonFET and PowerVia reshape local contacts and wiring, while the floorplans show where architectural consolidation and process choices save area. A sustained competitive lead depends on product performance, cost, yield, and the next implementation. The SemiAnalysis STEEL teardown lab breaks down advanced datacenter and AI hardware. To learn more about our pipeline or to commission a teardown, contact sales@semianalysis.com. WE’RE HIRING: Architecture, floorplan, packaging, manufacturing, and labs experts. Opportunities from system to transistor and everywhere in between. Check out our Careers page.. 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ProTributeBands.com Clarifies Direct Booking Model for Corporate Event Entertainment Planners
SAN RAMON, CA - September 25, 2026 - PRESSADVANTAGE -ProTributeBands.com, the curated booking and lead generation platform for high-end tribute bands, has outlined how its direct-booking structure works for event planners seeking corporate event entertainment. Under the model, bands featured on the platform negotiate terms and close each booking directly with the client, while ProTributeBands follows up to keep the transaction moving smoothly.The structure separates ProTributeBands.com from traditional booking agencies that insert themselves into every contract. Rather than acting as an intermediary that controls the final agreement, the platform connects event planners, performing arts centers, festivals, wedding clients, and private party hosts with pre-screened, national-act-caliber tribute acts, then steps back so the parties can settle details themselves. The platform maintains contact with both sides to ensure momentum is not lost during the process.Founded by David Victor, former guitarist and co-lead vocalist of the multiplatinum band BOSTON, ProTributeBands.com features tribute acts covering artists such as Queen, The Beatles, ABBA, Journey, The Eagles, and Pink Floyd. Selected bands receive optimized profile pages and booking leads generated through the platform."Event planners often assume a booking platform means another layer of negotiation and markup," said David Victor, Founder of ProTributeBands.com. "The approach here is different. The bands negotiate terms and close each booking directly, which keeps the conversation honest and the details accurate. The platform stays involved by following up so nothing stalls between the first inquiry and the signed agreement."The direct-booking method reflects how corporate and private event planning typically operates. Planners frequently need to confirm technical requirements, stage dimensions, scheduling, and performance specifics with the people who will actually be on stage. By allowing those conversations to happen between the client and the band, the model aims to reduce miscommunication that can occur when information passes through a third party.ProTributeBands.com applies a screening process before an act appears on the platform, focusing on production quality, musicianship, and readiness for larger venues. The company ranks tribute bands across categories including Queen, The Beatles, The Eagles, Journey, Pink Floyd, and BOSTON tributes, drawing on performance quality and audience response.The ProTributeBands guide to hiring a tribute band offers additional context for planners weighing these decisions, covering topics such as understanding the audience and event, assessing entertainment value, viewing an act in person before hiring, and reviewing rider and insurance requirements. The guide addresses the practical considerations planners face when selecting an act for a corporate function, festival, or private celebration."A tribute production for a corporate audience has to hold the room the same way a headline act would," Victor said. "The vetting exists so planners can trust that the act they see listed can deliver at that level, and the direct-booking structure lets them confirm every detail with the band before committing."ProTributeBands.com serves clients across the United States and abroad, working with tribute acts that perform at performing arts centers, summer concert series, product launches, corporate parties, private parties, and wedding receptions. The platform also accepts artist submissions from tribute bands seeking consideration for inclusion. The company operates online at protributebands.com.###For more information about ProTributeBands.com, contact the company here:ProTributeBands.comDavid Victor(925) 236-0217hello@protributebands.com11040 Bollinger Canyon Road Suite E-938, San Ramon, CA 94582
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Pioneer of China NewCo model sued in US over trade secret misuse, double-dealing
A legal feud unfolding in New York is putting a spotlight on the work of a business development veteran who is credited for pioneering one of biopharma’s hottest dealmaking mechanism: the China “NewCo” model. In a lawsuit originally filed in New York state court and recently moved to federal court, China’s Lepu Medical Technology has alleged that biopharma business development consultant Su Zhang, who was hired to help shop its GLP-1 weight-loss candidates to Western partners, engaged in corporate double-dealing and trade secret leaks. According to the complaint, while acting as Lepu’s primary dealmaking liaison for a group of obesity and metabolic disease drug candidates, Zhang was secretly double-dipping as the acting chief business officer for a direct competitor, BrightGene Pharmaceutical. “She never adequately disclosed the role, never sought Lepu’s consent, and never proposed any safeguard,” Lepu alleged in its complaint, which was filed in July after Zhang’s consulting firm, CoDevCo, sought certain transaction-based success fees from its angry customer through an arbitration process in Singapore. Lepu, the parent company of Lepu Biopharma, has asked Zhang to pay back its $500,000 retainer and disgorge all benefits she received during the alleged breaches of fiduciary duty, plus other damages and relief. The company has also requested the court grant injunctions to protect Lepu’s trade secrets. The ill-fated partnership officially kicked off in December 2024, when Lepu tapped CoDevCo as its “exclusive business development mechanism” to identify collaborators for the company’s drug candidates. According to Lepu’s complaint, Zhang personally negotiated and signed the agreement as managing director for CoDevCo, which used her home address. Before the Lepu deal, Zhang made a name following a short stint as the global head of business development for Hengrui Pharmaceuticals. It was during her tenure that Hengrui signed a landmark deal granting exclusive rights for a portfolio of GLP-1 assets to Hercules, which was at that time newly established by a group of private equity and venture capital firms. In addition to the regular upfront and milestone payments, Hengrui also gained an equity stake in Hercules, which later became Kailera Therapeutics. The Hengrui-Hercules deal opened a new paradigm, where a Chinese biopharma company spins off certain early-stage assets to investors for further development through the creation of a new company abroad. The “NewCo” model quickly came into vogue as it allows Western investors to access high-potential assets originating from China at an early stage while giving the Chinese licensors an opportunity to reap long-term benefits through equity stakes in the new firms. The NewCo model proved its value when Kailera staged a record-breaking $625 million IPO on Nasdaq this April, merely two years into the Hengrui deal. Related Kailera CEO 'knew we were in a good spot' before obesity biotech's record-breaking $625M IPO On her LinkedIn page, Zhang described her work at Hengrui as “[b]uilding team and capability from the ground up,” forming NewCo and major pharma partnerships worth billions of dollars. Lepu clearly wanted that kind of track record to help boost its own cardiometabolic portfolio, which includes a range of assets for obesity, Type 2 diabetes, fatty liver disease and muscle preservation during weight loss treatment. “Lepu’s pipeline is very valuable, but only if Lepu could secure the right international partner to expand into the overseas market during the available commercial window,” the company argued in its complaint. The Chinese biotech said it had little knowledge of U.S. laws, customs or business practices in the business development field, and therefore “needed to rely entirely” on the expertise of Zhang and her team as the firm’s first engagement of a U.S.-based BD consultant. “Zhang’s dominating influence on the business development strategy is further evidenced by the fact that she personally controlled the business-development communications on behalf of Lepu with potential partners,” Lepu said in its complaint. After entering the deal, Zhang introduced Lepu to her four associates. According to Lepu’s version of events, all of them were allegedly employed at different time points to perform similar jobs at other Chinese companies that Lepu described as its competitors, while having access to Lepu’s confidential information. As such, Lepu described Zhang’s team as “a roster of individuals whose primary professional loyalty, by virtue of their concurrent full-time employment, ran to Lepu’s competitors.” As well as the specific examples set out in the case, a look at Lepu’s deals over the period suggests Zhang may have been involved in at least one transaction. During their partnership, Lepu, through its subsidiary Shanghai Minwei Biotechnology, also out-licensed its GLP-1/GIP/FGF21 agonist MWN105 to a NewCo called Sidera Bio in the fall of 2025. The deal included an upfront and near-term payment of $35 million, up to $1.01 billion in milestones, and a 9.99% stake in the Danish startup. It seems likely that Zhang facilitated the Minwei deal given that Lepu is on record as having used CoDevCo as its “exclusive business development mechanism.” The big shock for Lepu came in the form of a news article on June 25, 2025. The article, reporting on phase 2 data for BrightGene’s GLP-1/GIP receptor agonist BGM0504, identified Zhang as acting chief business officer of the Lepu rival. Blindsided by her association with BrightGene, Lepu confronted Zhang in July 2025. “Lepu was given assurances that there was nothing to be concerned about and told that Zhang would explain the matter to Lepu,” Lepu alleged in its complaint. “Zhang never did.” Lepu claimed that Zhang had the motive and opportunity to steer potential prospective partners toward BrightGene or other competitors. Later, in February 2026, one of Zhang’s associates joined BrightGene as the vice president for global business development, according to the complaint. Around the same time, Lepu sent written demand letters asking Zhang to account for her BrightGene role, identify what confidential data were shared with the rival firm, and provide any conflict-of-interest or firewall policies during the engagement. According to Lepu, neither CoDevCo nor Zhang answered the questions in their responses. Related Novo vs. KBP: How a $1.3B deal turned into a fraud accusation and an international legal fight In a motion to dismiss filed with the U.S. District Court in the Eastern District of New York on Sept. 4, Zhang’s legal team argued that Lepu’s agreement was signed with CoDevCo, and that an employee of the contractor does not owe fiduciary duties to the client. In its complaint, Lepu said: “That CoDevCo was the contracting entity does not insulate Zhang from personal liability for duties she personally undertook and personally breached.” Taking the argument one step further, the defending party argued that the consulting agreement “does not create a fiduciary relationship even between CoDevCo and Lepu; instead, it identifies CoDevCo as an independent contractor retained to market Lepu’s business to potential western partners.” Although CoDevCo was Lepu’s exclusive business-development contractor, there were no terms stipulating that the consulting firm should serve only Lepu, Zhang’s lawyer noted. As to Lepu’s claims that Zhang misappropriated trade secrets, the defendant argued that Lepu authorized the use of the information so Zhang’s team could perform their service per the agreement. In a rebuttal filed on Sept. 11, Lepu’s lawyer set out why they believe the Chinese biotech satisfied New York law’s misappropriation definition by alleging that the defendant used a trade secret “in breach of a duty or through improper means.” As an alternative to dismissing the suit, the defendant suggested the action should be stayed pending outcomes from the arbitration of a separate case in Singapore. While NewCo pioneer Zhang is defending her business arrangements, momentum behind the NewCo trend has continued unabated into 2026. Through August, Chinese biotech assets have spurred 15 NewCo deals this year, according to local trade publication PharmaDJ.
Herd Health Playbook: Vaccines, Timing and the Value of a VCPR
A tailored vaccination schedule and an established relationship with a veterinarian help producers prevent outbreaks and handle emergencies before they start.
Three Roma players listed in Serie A’s Most Valuable XI
After the first five matchdays of the season, it’s time to take stock of players’ market values. Three Roma players feature in the top 11 in Serie A with the highest market value. These include go...
Continental offloads Australian tyre business to Chinese firm Tuhu
The deal is based on an enterprise value of A$403m and remains subject to regulatory approvals.
Farm succession stories: You can go home to the farm
An Ord, Neb., native and UNL agribusiness major found an enterprise that adds value to the farming operation and allows him to return to the family farm.
Beef imports equal smart business
Banning imports would slash cattle values and trigger supply shocks across the sector.
Fleets urged to build AI strategy around data, business value
Fleets looking to deploy AI should focus on clean, accessible data and defined business problems, not the latest technology pitch, panelists said at The AI Summit.
What Are Progressives Supposed to Do About Public Education?
Hannah-Jones’ attempt to live her values backfired. But what’s the alternative?
August online grocery sales up almost 25%
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Early Reality Fracture Data Highlights Biggest Traps To Avoid
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Economic development veteran Mike Malone notes value of statewide competitiveness
Mike Malone, partner at Shallotte, N.C.-based economic development firm Economic Leadership, said cities, counties, and states compete to retain and attract residents and businesses. The firm recently worked with the...
Value of Things: By the Numbers
How will the Colts and Texans attack each other on Sunday?
EU science policy wonks debate prospect of stronger ties with Canada
Europe’s research and innovation sector has started asking questions on how European Commission President Ursula von der Leyen’s offer to make Canada “the first associate member of the EU” would actually work in practice, and who will get to shape priorities in a transatlantic relationship that is getting stronger. The Commission says it wants “a new model of association” under which the EU and Canada will aim to develop “a shared space” to face ongoing challenges. “Working in close coordination with our member states and the European Parliament, we will aim to create a new form of partnership that has not existed until now, building the closest imaginable form of association with a partner outside Europe,” a spokesperson told Science|Business.Locked in an escalating trade war with US President Donald Trump, who has repeatedly talked of annexing Canada, Prime Minister Mark Carney has been looking east, but full EU membership was never in play. Taking the floor a day after von der Leyen’s proposal, he agreed to strengthen ties under “an alliance of the future” but reined in enthusiasm on the new label. He also suggested expanding Canada’s involvement in the Erasmus+ student mobility scheme, to which it currently has limited access, and the next iteration of Horizon Europe. Canada joined the present Horizon Europe in 2024, but only contributes to collaborative projects.Neither side has detailed the next practical steps in developing this new relationship. “I think nobody at the moment truly knows how this will work,” said Michael Browne, chief executive and founder of Crowdhelix, a global collaborative network that connects players in research and innovation. “It’s more of a statement of intent for closer collaboration, which requires legislative frameworks and approval processes, which have not started.”Kurt Deketelaere, secretary general of the League of European Research Universities, said von der Leyen’s pitch to Canada is “politically significant, but the legal content still has to be negotiated and constructed.”Mattias Björnmalm, secretary general of the Cesaer university group, agreed that she had only opened “a political door” to Canada, as “associate membership does not come with a predefined set of rights in the EU institutions.”Not only does this status not currently exist as a legal category in the two treaties that set up how the EU functions, but the Commission president cannot unilaterally create a new category of EU membership.According to Deketelaere, Article 217 of the Treaty on the Functioning of the EU, which allows the bloc to make association deals with non-EU countries involving reciprocal rights and duties, is “the most obvious existing legal basis for building a much deeper EU-Canada relationship.”Getting universities involvedNo matter how this new cooperation takes shape, Liviu Matei, who heads the School of Education, Communication and Society at King’s College London, hopes to see universities involved in discussions from an early stage.“Its primary motivations, entirely justifiably, are political and geopolitical,” he said. “In the area of higher education, however, restricting the initiative to political and geopolitical considerations would limit the scope of cooperation and lead to distorted frameworks and counterproductive implementation.”It is all the more important since academic interests on the two sides of the Atlantic are “neither identical nor fully aligned,” Matei added. “This is not insurmountable; it simply requires work to articulate the details of this privileged cooperation, including its governance and funding frameworks, as well as its substantive content in education and research.”Related articlesCanada looks to deepen research and education links with the EUZaharieva hopes for a Horizon Europe deal in 2026Canada might participate in European Research Council schemes, for example, which was not on offer in the present Horizon Europe association agreement. But “there would have to be something in it for the EU,” Browne said. “They don’t want to be funding projects outside of the EU where intellectual property is going to sit outside of the EU. There has to be some kind of transfer of knowledge.”But access to funding will not by itself resolve all the practical difficulties of working together, said Björnmalm. “For researchers and students, these include visas and residence arrangements, recognition of qualifications and study periods, and the conditions for pursuing a research career across borders,” he said. “For universities, there is scope for more predictable access to shared laboratories, computing and research data, and stronger support for joint doctoral training and long-term institutional partnerships.”Linda Doyle, provost and president of Trinity College Dublin, said Europe should strive for the “closest possible expression” of this new political alliance. “If Europe is serious about recovering its voice and its place in the world, it needs to be strongly allied with countries who share its values and its vision for a stable, rules-based, peaceful world.”
Why are trading cards surging again? Average collectors, wealthy investors seeing value
Trading cards likely generated well over $1 billion in sales in August alone, pushing the once sleepy hobby into uncharted waters.
Commentary: Assessed value increases hitting businesses, too
Indiana businesses are experiencing what many homeowners have seen in recent years: dramatic jumps in the assessed values of their real property.
Tucker Carlson has a new enemy: the politics he helped build
Tucker Carlson is talking about what happened behind closed doors in his very public break with President Trump over the war with Iran.He recounts an Oval Office meeting, before the conflict began, when Carlson says he warned Trump that he was allowing the U.S. to be led to war by Israel. “Yes, you’re right,” Carlson claims Trump admitted. “But in the end we all die anyway, so it doesn’t matter.” "And I was shocked by that, because it's nihilism,” he says. “That's the last thing any leader should display.”In response to a request for comment from NPR, the White House did not address that point specifically, instead sending along a social media post by the president that describes Carlson and others as “stupid people” who want Iran to have a nuclear weapon.In this episode of NPR’s Newsmakers, Carlson and host Steve Inskeep unpack the conservative commentator’s split with Trump and the MAGA movement. They also get into faith, money, political power, and why Carlson believes both major parties have failed Americans.Newsmakers is where you'll find NPR's biggest interviews. We post new episodes as soon as they're available -- any day of the week. Follow or subscribe on Spotify, YouTube, or wherever you watch or listen to podcasts to get new episodes as soon as possible. You can also find Newsmakers on the NPR app. Newsmakers relies on supporters who value independent journalism and a free press. Join NPR+ today to support our work and get perks from the podcasts you trust. Go to plus.npr.org.
Nutex Health (NUTX) Could Be 29% Undervalued As Nasdaq Texas Listing Nears
Nutex Health (NUTX) just secured approval to dual-list its common stock on Nasdaq Texas, with trading expected to begin around September 23, 2026. This move may broaden liquidity and investor access. Recent trading has been choppy for Nutex Health, with the share price slipping 3.33% over the last day and 5.81% across the past week, even after a 30 day share price return of 7.32% and a 90 day gain of 21.31%, which leaves momentum still positive overall. Look beyond Nutex Health and review how...
Honda Internships Take UToledo Business Finance Student From Helper to Project Lead
Ella Boerger was one of four students who shared the value and impact of their experiential learning journeys with the UToledo Board of Trustees this week.
The entertainment value of cruelty
Ariana Grande's body has been the hot topic for the last few months, as it is for most women celebrities, but the commentary isn't as much focused on her body as it is on her ethics. Her apparent thinness has branded her a victim, a villain, a case to be analyzed, diagnosed, and ridiculed. Cruelty online is rampant; we all know this. But why?
Hands-on science can be cool
After spending many long days conducting experiments to find a new way to combat bacterial infections in crops, Misha Hegde and Mia Soleil Maurer have been rewarded with international recognition and access to top research facilities. But these are not typical scientists. They are 16-year-old German high school students.“Our supervisor told us that in order to start a project, you need to begin with either a question or a problem,” says Misha, adding that she and Mia had read about antibiotic resistance in certain plants being treated for bacterial infections. “We found out that antibiotics overuse is very common in agriculture,” explains Mia. “Our aim was to create an alternative to antibiotics and to try to raise awareness of the problem of overusing antibiotics.”Their subsequent research has focused on harnessing bacteriophages, the natural predators of bacteria, to eliminate pathogens threatening food crops treated with antibiotics. At the Schuldorf Bergstraße Jugend forscht MakerLab in Seeheim-Jugenheim, located in the German state of Hesse, they discovered a novel phage that infects the Rhizobium rhizogenes bacterium, which causes the hairy root disease that can reduce yields of tomatoes, carrots, soya beans and other food staples.The students believe their method could curb antibiotic use, while protecting plants from infections without disturbing the natural soil microbiome. “The application of phages is host-specific, so they would only kill the targeted pathogen or disease-causing bacteria,” explains Mia. It may also offer environmental benefits, since applying antibiotics can contaminate groundwater.Getting to this point has not been easy. The childhood friends admit to feeling frustrated when their trials did not yield the expected results. “We spent six months on our first experiment, just doing the same thing over and over and over again, to the point where we thought, is it even worth it? Why are we doing this?” Misha says. “You just need to be brave enough to take that first step and keep going.”The benefits of inquiry-based learningTheir determination has paid off. In 2025, the pair won first prize in biology at Jugend forscht, Germany’s national competition for young people interested in science, technology, engineering and mathematics. They were also among the winners of the German Research Foundation Europa-Preis, which is awarded to selected national winners at Jugend forscht, and took third place in the 2025 European Union Contest for Young Scientists.The Jugend forscht Foundation opens doors for young people to connect with scientists as well as industry professionals. Jessica Bönsch, executive director of the Foundation, sees Misha and Mia as prime examples of how young people can develop a deeper understanding of science through their own research projects. “The experience of working on your own research question is very important,” she explains, adding that “inquiry-based learning engages with real-life problems in a way that can be more motivating than traditional classroom teaching.”The Jugend forscht Foundation offers financial support through sponsor pools in Germany’s federal states. Some projects are developed in cooperation with student research centres, university labs or informal collaborative learning areas called makerspaces. Other activities start as hands-on “garage projects” and can grow within the Jugend forscht network and infrastructure.The Jugend forscht Foundation is also a partner of Science Comes to Town, an EU initiative to strengthen public awareness about science and create bridges between researchers and communities. The EU-financed project involves universities, research institutions and other stakeholders in three host cities — Brest (France), Kiel (Germany) and Split (Croatia).“It's so important for people not to live in a bubble, because I think science can be very scary if you misunderstand it,” Mia says of SCTT. The initiative’s aim of raising awareness about science is “absolutely amazing,” Misha adds. “I think it's the best way to kind of make science digestible for the public. In a world where misinformation in science is getting more radical, more dangerous, becoming more of a threat to the trust in scientific infrastructure and foundations, we need such programmes.”Misha and Mia also believe that SCTT can help break down gender stereotypes in science by encouraging young women to study and pursue careers in scientific fields. Both students have benefited from female mentors and encouragement they had when they were much younger. Mia’s love of science began with a class trip to a lab, while Misha — with a smile on her face — says she wanted to study history until “a teacher kind of coerced me into joining a school science club.”Recognition beyond EuropeIn May, Misha and Mia were among the finalists at the Regeneron International Science and Engineering Fair held in Phoenix, Arizona, and involving nearly 1,700 pre-university students from over 60 countries. “It was very crazy because there were so many people and so many teenagers interested in science,” Mia recalls. The event was also challenging. “It was eight hours of continuously presenting your project,” adds Misha.Attending the fair was a chance for the young women to see first-hand the value of international collaboration as well as how research cultures differ. “America is a bit more willing to take risks, and I think that's something we can learn about here in Europe,” Misha explains. However, she continues, “I think Europe has the talent, has the innovation and has the resources” to be competitive.Misha and Mia plan to continue their phage experiments in the new school year, inspired by the project’s hands-on nature and the support they receive from their supervisors. They have also attracted the interest of professional scientists and received invitations to leading research facilities, including the Centre for Synthetic Microbiology, jointly run by the University of Marburg and the Max Planck Institute for Terrestrial Microbiology in Germany. “It is so cool that we can do something to try to move the world in our school and at this age,” Mia says.After completing secondary school, Mia plans to study microbiology and pursue a career in medical research, focusing on Ebola and other infectious diseases. “This has been my dream for so long,” she says. Her friend Misha is interested in biological research with a focus on medicine. “I've gotten addicted to the process of going to the lab, planning out experiments, then failing, trying again,” Misha says. “I think there's just so much to be discovered, so much to be done.”The students' names and photos were published with the permission of their parents.Science|Business, which connects policymakers, academics and industry through its news reporting, analysis and events, is an SCTT partner.
Inside Dolly Parton's estate drama and family legal battle, explained
Dolly Parton's estate, valued at an estimated $450 million, is embroiled in a legal battle involving her nephew, Bryan Seaver, and manager, Danny Nozell.
Globant (GLOB) Following The TCI Entertainment Deal And The Undervalued Narrative
Globant (NYSE:GLOB) has become a development partner for TCI Entertainment through a new Master Services Agreement, establishing the legal and commercial framework for projects related to interactive commerce technology. Despite the new TCI Entertainment agreement, Globant’s recent share price performance has been weak, with the stock down 12.69% over the past week and 44.49% year to date, while the 1-year total shareholder return has declined 38.29%. This suggests sentiment has been under...
Merck Life Science Expands Bengaluru Manufacturing with €13 Million Investment
Merck Life Science is expanding its manufacturing capabilities in Bengaluru with an investment of approximately €13 million, strengthening the company’s ability to supply critical materials to customers across India and the wider Asia-Pacific region. The expansion at Merck Life Science’s Jigani site in Bengaluru will introduce biological buffer manufacturing alongside the facility’s established chemistry capabilities. The investment is designed to enable faster and more reliable access to critical materials used by customers across research, diagnostics, biotechnology and biopharmaceutical manufacturing. The development further advances Merck Life Science’s “in-region, for-region” approach, under which the company is expanding manufacturing capabilities closer to the markets and customers it serves. By adding biological buffer production in India, the Jigani expansion will broaden the site’s manufacturing capabilities while strengthening Merck Life Science’s regional supply infrastructure for the rapidly developing life sciences sector across India and Asia-Pacific. The company said the expansion reflects both the contribution of its teams and its collaboration with government and industry stakeholders. Merck Life Science acknowledged the support of India’s Department for Promotion of Industry and Internal Trade (DPIIT), the German Embassy New Delhi, and Invest India in helping strengthen life science manufacturing capabilities in the region. The investment comes as India continues to expand its role across pharmaceutical, biotechnology, diagnostics and biomanufacturing value chains, increasing demand for dependable regional access to materials supporting research and manufacturing operations. The Bengaluru expansion reinforces Merck Life Science’s focus on building manufacturing capacity within Asia-Pacific and supporting customers through a more regionalised supply network.
From AI Users to AI Leaders: How Businesses Can Navigate Generative AI | Elmhurst University Elmhurst University Blog
Artificial intelligence is rapidly becoming part of how organizations operate, compete and make decisions. Businesses not only need more AI programmers and data scientists; they also need managers, analysts and business leaders who understand what AI can do, where it can create value and how to use AI responsibly in a changing business environment.
Kings’ Sabonis Ranked 58th in the NBA 2026 Top-100
Sabonis faces a high-stakes season to restore his trade value before Sacramento pivots toward a new era.
Platinum Equity Completes Sale of Global Environmental Services Business Urbaser to Blackstone and EQT for $6.6 Billion
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Building Your Fractional C-Suite
How do you determine when fractional leadership can add the most value? How do you find an executive with the right expertise, leadership style, and cultural fit? And how do you structure the relationship so they become a strategic extension of your leadership team rather than simply an outside resource?
Susan Collins can stand up for science by voting against FDA nominee
If the senator values the general health of Mainers, she must reject Dr. Heidi Overton’s nomination.
Dearborn mall heads to auction with one bidder
Court documents say the mall’s value is “substantially less than the outstanding indebtedness owed."
Rayman Legends Retold Doesn’t Feel Like a Necessary Remake, But It’s Still a Good Time
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72-Year-Old Ohio Man Put A GPS Tracker On Pokémon Delivery Driver's Vehicle
Pokémon card value is at an all-time high
Pokémon 30th Celebration Cards Cause Fights, Arrests And Embarrassing Displays From The Crowds Camping Overnight
It's made all the more enjoyable when you realize the cards aren't holding any value
DoorDash Chief Business Officer Keith Yandell Sells 2,184 Shares
Yandell disposed of stock worth $438,460 under a pre-established trading plan, while maintaining a direct holding of 120,688 shares valued.
Rice rises to No. 16 in US News rankings as engineering, business programs climb
Rice has climbed one spot to No. 16 in the nation in U.S. News & World Report’s Best Colleges rankings, with the university also earning top 10 recognition for value, undergraduate teaching and student experience.