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Trump voters say costs are crushing their wallets — but look past president for blame
Trump rally attendees say rising gas prices are linked to the Iran conflict, not Trump's policies, and express confidence costs will decline soon.
Vaccine Confidence Strategies and Emerging Vaccinology Science
With vaccine confidence top of mind for many infectious disease experts, the 2026 Annual Conference on Vaccinology Research covered communication challenges as well as the latest in vaccine science.
Business Monday: Aerial Arts Hawaiʻi helps build strength, confidence for aerialists at every skill level
While circus artists don’t always fit the mold, Aerial Arts Hawaiʻi has become a safe space for youth and adults who are ready to take on a challenge.
Science Helps Verify Cotton's Origin - AG INFORMATION NETWORK OF THE W
The U.S. Cotton Trust Protocol is adding forensic testing to strengthen confidence in cotton supply chains.
Caleb Wilson bringing flood of confidence to Bulls: 'I expect to have Rookie of the Year, honestly'
Trump nominates new top deputy to RFK Jr.
Chris Klomp, a 45-year-old tech entrepreneur, gained the president's confidence when he negotiated price cuts with drug companies.
Bluehost Launches Inaugural Market Study on State of Small Business AI Confidence in the U.S.
/PRNewswire/ -- Bluehost, the SMB business platform that millions of small businesses, developers, and agencies globally trust to run, grow and scale in the AI...
America’s Friendship Recession Has Become a Startup Opportunity
A new “connection economy” is selling courses, clubs and confidence bootcamps to socially isolated adults, but scaling intimacy remains a challenge.
German Business Confidence Edges Higher on Hopes Iran Tensions Ease
The Ifo business-climate index nevertheless remains at a subdued level, having plummeted after the outbreak of the war in Iran.
Business travel is predictable again — and that’s a powerful signal for marketers
Business travel has moved beyond recovery and into a steadier rhythm, giving marketers greater confidence in audience behavior and long-term planning.
U.S. Business Activity Continued to Expand in June
U.S. business activity in the private sector continued to expand in June as brighter news out of the Middle East helped restore some confidence among U.S. businesses.
Euro-Zone Business Activity Shows Resilience to Iran War Fallout
Business activity in the euro area shrank less than anticipated in June, feeding optimism that the region’s economy can weather faster inflation and the jolt to confidence dealt by the Iran war.
German Business Activity Unexpectedly Worsens on Services Slump
Germany’s private sector shrank for a third month as sagging confidence over the Iran war sent services activity sinking at its fastest pace since 2022.
French Business Activity Extends Drop With Economy ‘Frail’
French business activity shrank for a sixth month after higher energy costs sparked by the Iran war hurt confidence and consumer spending.
Does Advertising Business Growth Assert AppLovin Corporation (APP) as a High-Growth Large-Cap Stock to Buy?
AppLovin Corporation (NASDAQ:APP) is one of the high-growth large-cap stocks to invest in now. On June 10, Benchmark reiterated a Buy rating on AppLovin Corporation (NASDAQ:APP)and a $775 price target. The research firm remains bullish on the stock, impressed by the company’s prospects in its consumer advertising business. A recent investor presentation affirmed management’s confidence […]
Master Your Money: Seton Hall Expands Curriculum with New Financial Li
New Financial Literacy course helps students build confidence in budgeting, saving, investing and other essential money skills for life after college.
Bristol woman helps others regain confidence with new wig business
For Karen Jenkins, hair loss has never been just a personal challenge. It became the reason she opened a business in Bristol aimed at helping others feel confid
The Yankees Reliever Confidence Index: June Edition
David Bednar returns to form as Yanks’ relief unit remains surprisingly elite.
Your Business May Be Too Measurable for Its Own Good. Here's What It's Costing You.
Customers are making more decisions in places metrics can’t fully reach. The result is a growing disconnect between what you can track immediately and what actually shapes buyer confidence.
Scientists pinpoint biggest driver of sea level rise, and it's not melting ice sheets or glaciers
"We can [now] explain sea level rise with greater confidence."
Is SMIC N+3’s Metal Pitch Smaller than Intel 18A’s?
Almost four years ago, we published that SMIC had started shipping 7 nm (N+1) chips. Now, SMIC is shipping its third-generation 7 nm (N+3) process in Huawei’s Kirin 9030, with a minimum metal pitch of 32.5 nm, about 10% tighter than the 36 nm minimum metal pitch shipping in Intel’s latest Panther Lake CPUs on 18A. The headline is true, but incomplete cherry picked metric. N+3 reaches the density of TSMC N6 through aggressive DUV multi-patterning and design-technology co-optimization (DTCO), but it pays for that in complexity, efficiency and process control. We found this and more in our reverse engineering and teardown where we cover SMIC’s N3 process technology, Huawei’s packaging, memory, architecture, and more. SemiAnalysis has been building a state-of-the-art teardown lab in Oregon capable of analyzing the world’s most advanced and important chips over the last year and half. We have already generated revenue on advanced datacenter chip teardowns including our recent reverse engineering of a major TSMC customer’s COUPE CPO optical engine + EIC 3D stack. This is the first public report from the SemiAnalysis Teardown Engineering & Evaluation Lab, or STEEL for short. The lab is aggressively scaling up and out and we’re excited to announce it publicly. This is a bit of inconvenient timing for TechInsights as they are private equity owned and currently being sold while having enjoyed virtually no credible competition for decades. This has led to TechInsights underinvesting in CAPEX. SemiAnalysis exceeds TechInsights in revenue despite no venture or private equity ownership and being founded only 6 years ago. Because we have no external investors and are founder led, we move faster, build faster, and we can release client chip teardowns for free regularly, while focusing on datacenter for our major clients. Here’s the first public image from our lab, the HiSilicon Kirin 9030 Pro SoC: This report will detail our teardown of the Kirin 9030 and our findings on SMIC’s N+3 process, the most advanced in China. For comparison, we’ll show our teardown of the MediaTek Helio G99, made on TSMC N6. Through this comparison, we can look at the effect of export controls – SMIC N+3 and TSMC N6 are comparable nodes, but one is heavily export-controlled, the other free to use the West’s most advanced equipment. Here we see both China’s progress and constraints. SMIC N+3 reaches TSMC N6-class logic density, but it requires far more aggressive DUV multi-patterning, so it does not match N6 on process maturity or cost. The Kirin 9030 Pro performs similarly to three-year-old Android flagships, and trails far behind the current flagship SoCs from Apple, Qualcomm, MediaTek, and Samsung. The efficiency gap is even wider. Export controls have not stopped Huawei and SMIC from shipping advanced silicon, but they have forced a different path. Without EUV, SMIC is leaning harder on DUV multi-patterning, DTCO, and increasingly complex integration. The roadmap continues forward through tighter design rules and backside power, but each step adds cost and process risk. Huawei’s τ scaling and LogicFolding show another path: stacking active logic and recovering density through advanced packaging and system-technology co-optimization (STCO). To understand the Kirin 9030, we must first understand Huawei’s SoC history. HiSilicon is Huawei’s chip design arm, responsible for the Kirin smartphone SoCs, Kunpeng server CPUs, Ascend AI accelerators, and switch/router networking silicon. Before export controls, Huawei was TSMC’s largest customer – the only customer on TSMC’s first EUV node, N7+, and among the first on N5, alongside Apple. That ended in late 2020. Huawei switched to Qualcomm SoCs in its flagship smartphones, though export controls limited them to 4G-only variants. In late 2023, Huawei returned to in-house silicon with the Kirin 9000s, a successor to the Kirin 9000, fabricated on SMIC N+2 instead of TSMC N5. In the following years, they released the Kirin 9010 and 9020 on the same N+2 process. These chips used Huawei’s in-house TaiShan CPU cores and Maleoon GPU. We have not torn down a Kirin 9020 ourselves, so the predecessor die shot is from Kurnal. The die shots show how Huawei spent its silicon budget: which functional blocks are where, and how their areas compare to the predecessor. First, a quick guide to the major blocks on the die. The total die area is nearly identical, but the 9030 uses that area more aggressively. A denser process lets Huawei fit an extra middle CPU core, more GPU and NPU cores, and larger caches into the same footprint. In contrast, the Helio G99 is a much smaller, low-cost SoC, built for budget smartphones rather than a flagship device. While the Kirin 9030 is ~140 mm², the G99 is only ~29 mm², roughly one-fifth the area. The underlying TSMC process technology, however, is directly comparable as a baseline for analyzing SMIC’s. The Kirin 9030 is an evolutionary refresh, not a clean-sheet design. Its CPU, GPU and NPU cores carry over the 9020’s families, and the gains come from three levers: the SMIC N+2-to-N+3 process step, DTCO and floorplan work, and incremental microarchitecture. Area is where the first two show up, and the 9030 scales well here. Performance and efficiency are the harder test. Huawei’s design holds up better than its node would suggest, but the chip still trails, both because N+3 sits behind the leading-edge nodes and because its cores, while competent, remain a few generations behind the newest designs. The new prime core is an incremental update. The main changes are a 10% frequency increase from 2.5 GHz to 2.75 GHz and a doubling in the L2 cache from 1 MiB to 2 MiB. Despite the increased cache, the core size decreased by 7.6%. Excluding the private L2 cache, the core size decreased by 21%. This is a large reduction for an incremental node. Compared with the TaiShan New V120 core in the Kirin 9020, the Kirin 9030’s middle core is almost unchanged architecturally, yet each core shrinks by ~22%. Most of that comes from the move from N+2 to N+3, with layout likely accounting for the rest. Visually, the most noticeable change is the increase from 3 middle cores to 4. There is also a 20% increase in the shared L3 cache of the big cluster. This helps to improve multi-core performance without sacrificing much in terms of area. Even with each core shrinking, the big CPU cluster’s total area is essentially unchanged. The per-core savings went back into an additional middle core and larger caches. The tiny cores shrank less than the prime core (excluding its L2 cache) and less than the middle cores. This is likely because fixed overhead is a larger share on a small core. We cannot resolve any architectural changes from the die shot alone, but the per-clock and efficiency gains shown below point to more than pure process and layout scaling. The area reduction was offset by a doubling of the shared L2 cache from 2 MiB to 4 MiB, leaving the total tiny CPU cluster area slightly larger. Area is the easiest improvement to see from a die shot, but it is only one part of PPA (power, performance, area). For modern logic, power and performance matter just as much, and often more. Since Dennard scaling broke down in the mid-2000s, voltage and frequency have not scaled in step with transistor dimensions, so each node has had to fight harder for gains in performance and efficiency. The starkest comparison is not Kirin 9020 versus Kirin 9030 Pro. Apple’s efficiency cores run circles around Huawei’s prime core. Apple’s low-power core delivers 20% higher integer performance while drawing only 1 W, compared with 4.5 W for Huawei’s prime core. N+3 matches TSMC N6, but N6 is several generations old. Apple and Qualcomm build on N4 and N3P, which are denser and sit on a better voltage-frequency curve, giving them a larger transistor budget and more performance per watt. The 9030’s own cores did improve. The middle and tiny cores gained 17% and 14% in per-clock integer performance over the 9020, with floating-point flat on the middle core and up 11% on the tiny. The tiny core improves cleanly, with performance rising while power falls and efficiency increases by 45% in integer and 24% in floating point. The middle core is mixed: integer performance rises but power rises faster, cutting integer efficiency by 7%, while lower power lifts floating-point efficiency 16%. Per-clock gains at the same or lower frequency are microarchitectural, so the cores are tuned, not just shrunk. Both also failed to hold their rated maximum frequencies, pointing to thermal, power, or stability limits. Per clock, the middle core sits around Arm Cortex-A720 and the tiny core near the Cortex-A520; absolute performance trails because Huawei clocks them much lower. The prime core is roughly Cortex-X2 class per clock, a 2021 design. Apple’s 2020 M1 Firestorm core is still 35% higher per clock and 57% faster in absolute integer performance at a similar 4.5 W. The current leading edge is further ahead again: the Apple M5 P-core is 60% higher per clock and 2.7× faster, the Arm C1 Ultra 45% higher and 2× faster. Matching older high-end cores per clock is a genuine design achievement. What Huawei cannot match is the voltage-frequency curve and transistor budget of leading-edge nodes, which let Apple, Qualcomm and others spend more transistors in the same area on wider cores, larger caches and deeper buffers while running at lower voltage. Huawei’s LogicFolding roadmap is one answer, stacking active logic to recover density and shorten signal paths. We return to it later. The GPU compute units (CUs) changed more visibly than the CPU cores, moving to a more rectangular layout for both the arithmetic logic unit (ALU) clusters and the CU overall. Even with ray-tracing support added, a CU shrank ~28%. However, that shrink is offset by the increase from 4 to 6 CUs and the area outside the CUs grew 33%. Overall, the GPU cluster is larger by ~10%. The GPU is where Huawei makes its biggest gains. The Maleoon 935 is not competitive with current flagships, but it is a large step up from the 920 and reaches older-flagship territory. In 3DMark it is 70% faster in Wild Life Extreme (WLE) and 79% faster in Steel Nomad Light (SNL) than the 920; with 11% higher clocks and 50% more CUs, the ~67% theoretical uplift roughly matches WLE and is beaten by SNL. It edges ahead of the Snapdragon 8+ Gen 1 in WLE and SNL, and the Dimensity 9200 and Apple A16 in WLE, but stays far behind newer parts: the Snapdragon 8 Elite Gen 5 and Dimensity 9500 are ~2.4–2.6× faster in WLE and ~3.2× faster in SNL. The Maleoon 935 is Huawei’s first GPU with hardware-accelerated ray tracing; there it lands slightly ahead of the Exynos 2200, and on par with the Apple A16, with current flagships up to 3.7× faster. The Neural Processing Unit (NPU) saw the largest structural changes of any block, moving from a Lite and a Tiny core in the Kirin 9020 to a Lite and two Tiny cores in the Kirin 9030. Both core types also show significant layout changes. This is a reversal in Huawei’s NPU design. The Kirin 9000 5G, its last flagship chip on TSMC N5, used two Lite and one Tiny core. The series of SoCs on SMIC N+2 moved to one Lite and one Tiny core, likely for area savings. With the Kirin 9030, Huawei has shifted back toward a larger multi-core NPU cluster, but with the additional area going to a Tiny core rather than a Lite core. We’re diving deep into the most advanced datacenter and AI hardware hitting the market. To learn more about what’s in the pipeline or to commission a custom teardown, contact sales@semianalysis.com. Interested in joining us on this ride and think you can be a difference maker? Check out our Careers page. Before diving into the process stack, the package and memory are worth separating from the SoC itself. The Pro variant of the Kirin 9030 carries 12 GB of Samsung DRAM, with two stacks of four dies each. The dies were identified as the K4L2E165YD, a 12 Gb LPDDR5X-9600 device fabricated on Samsung’s 1a node, the fourth generation of its 10 nm-class DRAM after 1x, 1y and 1z. 1a has shipped in volume since 2022, so this is current memory rather than older-node inventory. The 16 GB Pro Max variants we obtained were found with both CXMT and Samsung packages. The CXMT package is marked CXDD7JEDM, with two stacks of four dies, packaged in week 45 of 2025. The inferred die dimensions from X-ray computed tomography (CT) are consistent with a known density of ~0.3 Gib/mm² for the CXMT G4 process, roughly equivalent to other manufacturers’ 1z processes. The Kirin 9030 uses a typical integrated package-on-package (iPoP) stack: multiple DRAM dies in a memory package sit above an organic redistribution layer (RDL) interposer, which sits above the SoC and package substrate. The full package is then mounted to the printed circuit board (PCB) through ball-grid array (BGA) solder bumps. The memory package substrate is a thin bismaleimide-triazine (BT) laminate carrying the LPDDR5X stack. The organic RDL interposer over the SoC routes the PoP signals around the die and carries possible dummy thermal copper pillars. The package substrate, a thicker Ajinomoto Build-up Film (ABF) build-up over a BT core, fans the flip-chip bumps out to BGA pitch and embeds the power planes. The whole stack is organic. The only silicon is the SoC and the LPDDR5X dies; there is no silicon interposer. Keeping it all-organic brings the package’s coefficient of thermal expansion (CTE) close to the PCB’s, reducing board-level warpage, and avoids the cost of a silicon interposer the SoC’s bandwidth does not need. In an iPoP stack, the memory package connects to the organic RDL interposer through an array of solder bumps. Underfill fills the gap around those bumps, adding stiffness and protecting the joints from mechanical stress. The Pro and Pro Max variants differ here, which we cover behind the paywall. The die shot and architecture tell us how Huawei allocated its silicon budget. The process tells us what SMIC can manufacture. We use the Helio G99 as the process reference for TSMC N6. Both SMIC N+3 and TSMC N6 are evolutions of previous 7 nm-class nodes. We used targeted TEM cross-sections through logic and memory regions, imaged in both fin-cut and gate-cut directions. Each cross-section caption gives its horizontal field width (HFW), the real width of the imaged area. We start at the transistor fins, then move up through standard cells, local interconnect, and SRAM. SMIC has not overtaken Intel or TSMC. It uses aggressive DUV scaling and DTCO to reach N6-class density, but that density doesn’t translate into comparable performance and efficiency, for two reasons: the node gap to leading-edge nodes, and Huawei’s core designs. Fin Profile One of the most important knobs in a FinFET process is the fin profile: the shape of an individual fin and the channel where current passes from source to drain. The ideal fin is tall, narrow, and nearly vertical. A taller fin increases effective channel width, while a narrower fin improves electrostatic control by thinning the body the gate must control. Push either too far, and the process pays for it: weaker drive current, fragile fins, taper, footing and line-edge variation that hit yield and device variability. The Intel 22 nm, 14 nm, and 10 nm fin cross-sections show how FinFET nodes have improved over time. 22 nm fins were a first-generation structure, relatively short, wide and strongly tapered. The shape limits current density and reduces gate control uniformity across the height of the fin. At 14 nm and 10 nm, Intel pushed the fins taller and narrower while also making the sidewalls more vertical. Rather than shrinking the device, these changes increase the effective channel width per fin and improve electrostatic control. The trade-off is that taller fins at tighter pitches are much more difficult to manufacture. Now, let’s compare the Helio G99 on TSMC N6 with the Kirin 9030 on SMIC N+3. Both processes are in the same class, with fin pitch of 30-32 nm on N+3 and 34 nm in our N6 cross-section. The pitch for N6 is especially interesting as N7’s HD library is generally listed with a 33 nm fin pitch, and N6 did not shrink pitches directly. Its density gains came from DTCO instead of tighter pitches. The 34 nm pitch was stable across our sampled region and serves more as a comparison against the SMIC N+3 we have not investigated further. Pinning down N+3’s fin patterning scheme takes more than one core unit. The CPU cores show a dense ~32 nm pitch, with the pitch between N-P fin pairs alternating between 78 and 88 nm. Logic alone may be consistent with dual-pitch mandrels of 120 and 110 nm, but this is a complex and unusual approach. Combining the pitch from the the 8T SRAM, which has more complex repeat unit, with the CPU core sequence allows us to reverse engineer the patterning steps with more confidence. As both the logic and SRAM should share the same base grid, a single CD mandrel lithography pattern with 128 nm pitch undergoing SAQP produces a die-wide ~32 nm grid (128 nm/4), which supports the pitch sequencing seen in both logic and SRAM cells. In the sampled cross-sections, N+3 shows a taller, narrower, higher-aspect-ratio fin than N6. The measured fin aspect ratio is ~9.5:1 on N+3 versus 7.8:1 on N6. N+3 also shows less top rounding, with an estimated radius of ~2 nm, compared with 2.8 nm on N6. Even though the fin widths differ, the ratio of top rounding to fin width tells the same story, with N+3 at 0.37 and N6 at 0.44. In a geometric sense, lower is better; a perfectly rectangular fin would have no top-rounding penalty. These are single-digit-nanometer features measured from a handful of cuts, so treat the absolute numbers as approximate. The important result is the relative gap: N+3’s fins are consistently taller, narrower and less rounded than N6’s. We’re diving deep into the most advanced datacenter and AI hardware hitting the market. To learn more about what’s in the pipeline or to commission a custom teardown, contact sales@semianalysis.com. Interested in joining us on this ride and think you can be a difference maker? Check out our Careers page. Standard Cell A standard cell is the basic building block of chip layout: a fixed-height row pairing one NMOS and one PMOS transistor that share a gate, tiled in a grid to build logic blocks. The key dimensions are contacted gate pitch (CGP), cell height (CH), fin count, and the lower-metal routing grid. To measure density, we use the Bohr metric: a weighted average of NAND2 gate area (60%) and scan flip-flop area (40%). This represents a realistic mix of combinational and sequential logic. This metric has its limitations, especially for complex cell layouts like TSMC’s FinFLEX, which alternates cells with different fin counts. Even so, it is the best metric for a pure process-level comparison. Another important measurement is the fin pitch; it refers to the distance between two fins of the same transistor. In a FinFET process, multiple fins are used in each transistor to increase the drive current and thus performance. TSMC N6 ships both a high-density (HD) library with 2 PMOS and 2 NMOS fins per cell, and a high-performance (HP) library with 3 of each. More fins under the shared gate mean more effective channel width. HP cells switch harder at the cost of area. Designers mix the two on a die, primarily spending HP cells on timing-critical paths, and matching their PPA targets. In the Cortex-A55 core of the Helio G99, we found a cell height of 240 nm for the HD cell. MediaTek has used HD cells in the G99 to minimize die size and thus cost. As an SoC for budget smartphones at ~$100, this is essential. By contrast, we found only one library in the Kirin 9030, with 2 NMOS and 2 PMOS fins. This suggests a narrower library strategy than TSMC N6, where both HD and HP libraries are widely used. This likely reflects the smaller customer base and the more constrained domestic design and electronic design automation (EDA) ecosystem. In all three CPU cores of the Kirin 9030, we found cell heights of 228 nm, 5% smaller than on N6. This is also a reduction of 9.5% over SMIC N+2’s cell height of 252 nm. SMIC N+3 and TSMC N6’s HD library both feature a CGP of 57 nm. For SMIC, this is a 9.5% shrink over N+2. In the past, CGP and cell height alone may have been enough to compare transistor density. Now, however, we must consider scaling boosters and DTCO as well. SMIC’s density gain does not come from EUV. It comes from using every available DTCO booster aggressively. First is fin depopulation: reducing the number of NMOS and PMOS fins in each cell. The first FinFET nodes started with 3 or 4 fins for each transistor. SMIC N+3 and TSMC N6 HD both use only 2 fins per transistor, trading drive strength for density. Next is contact over active gate (COAG). By landing the gate contact directly over the active gate, instead of out over the isolation region, the cell height drops. N+3 integrates COAG while N6 does not. Our N+3 gate-cut cross-sections indicate COAG, with the gate contact sitting over the active region, while N6 shows an off-gate contact. Last is single diffusion break (SDB). Diffusion breaks are inserted between cells in the same row to provide electrical isolation, but they also introduce local layout effects (LLE), layout-dependent shifts in electrical characteristics. In the past, a double diffusion break was used, consuming the space of two CGPs. SMIC N+3 and TSMC N6 instead use SDB, saving area but increasing LLE sensitivity. This must be controlled at the process level and accurately modeled in the process design kit (PDK) so that EDA tools can account for it. Overall, SMIC N+3 has a transistor density of 113.4 MTr/mm², slightly above TSMC N6 at 107.7 MTr/mm². Even without EUV, SMIC has achieved density beyond TSMC’s mature N6 node which utilizes EUV. Metal Stack The smallest critical dimension in the teardown is M0; SMIC N+3 uses a 32.5 nm local metal pitch. That is smaller than the 36 nm M0 pitch on Intel 18A in Panther Lake. However, this does not mean that SMIC has a better process than Intel 18A or TSMC N3P. M0 is a local intra-cell routing layer. Its usefulness depends on the full interconnect stack: M1 and M2 pitch, track count, via and line resistance, design rules, mask count, overlay control, and routing flexibility. The 32.5 nm M0 is consistent with self-aligned quadruple patterning (SAQP), whose four-population line-width loading we read coarsely as alternating widths of 21.5 to 24 nm; M1 and M2, at 38 and 40 nm, are consistent with self-aligned double patterning (SADP), a single A/B split. On TSMC N6, M0, M2, and M3 sit at a relaxed ~40 nm and are consistent with SADP-class double patterning, with no need for quadruple patterning. That said, we measure M2 for example at ~43 nm, likely inflated by sparse routing. We do not assign any specific layer to EUV from our cross-sections; the distinction we can draw is double versus quadruple patterning, not lithography wavelength. Transistor-level density in the front-end-of-line (FEOL) sets an upper bound, but the design is ultimately limited by what the interconnect stack can route. The lowest metals are the most important for standard-cell density, but the semi-global and global layers determine how usable that density is at the block and chip level. Two axes are commonly used for chip cross-sections: the fin-cut and the gate-cut. The micrograph above is a fin-cut and shows metals 0 through 3. This axis lets us see the even-numbered metals, with M0 right above the fins. There are two kinds of M0 lines. The first are the power rails; these are wide wires for the VDD and VSS running horizontally at the top and bottom edges of each standard cell. The wide wires measure 55 nm across, more than double the other M0 lines. Their width minimizes resistance and reduces IR drop. The second kind are intra-cell wires, short segments within the cell that connect terminals to M1. These have alternating widths between 21.5 and 24 nm. The M0 pitch is 32.5 nm, a 19% reduction versus N+2 and N6. At this pitch, DUV patterning requires more aggressive multi-patterning, increasing mask count, overlay sensitivity, process complexity and cost. M0 is below what a single DUV-defined spacer (SADP) can resolve, so SMIC cascades a second spacer step (SAQP). The cross-section reflects the cost: the M0 trenches are visibly more re-entrant (narrower at the bottom than the top) than M1 or M2 on the same chip and carry a bright barrier-rich foot where the trench meets the etch-stop layer. That shape is partly the intended damascene profile, as a slightly narrow bottom helps void-free copper fill, but its magnitude at M0 is driven by the tight pitch and the higher trench aspect ratio. Intel 18A supports an M0 pitch of 32 nm, although Panther Lake has only shipped with a looser 36 nm pitch. This is due to Intel’s heavy usage of HP libraries. Among leading-edge nodes, 18A has the loosest M0 pitches due to PowerVia. With power routing moving to the backside, congestion is reduced, and the entire front-side metal stack can be used for signal routing. M2 is the first true inter-cell routing layer. It runs horizontally like M0 but spans across multiple cells to carry block-level signals. The M2 pitch sets the cell’s track height – the number of M2 tracks that fit between the VDD and VSS rails, defining what the library calls a 6-track or 7.5-track cell. This layer is the most important, limiting the routing of entire blocks. SMIC N+3 features a 5.7-track cell. The M2 pitch is 40 nm, a 5% decrease over N+2 and the same as N6. This shrink keeps the pitch at the edge of what is possible with double patterning. Future nodes will need to increase the number of masks for M2 as reducing the number of tracks is much harder due to the limitations in routing. The micrograph above is in the perpendicular direction, the gate-cut, and shows metals 0 through 4. This allows us to see and measure the odd-numbered vertical metal layers. The M1 pitch is 38 nm, 9.5% less than N+2 and 33% less than N6. The M1-to-gate ratio matters because it sets local routing flexibility. N+2 and N+3 use a 3:2 ratio, while N6 uses a 1:1 ratio, explaining the huge differences in M1 pitch. The more M1 lines there are compared with the gates, the more flexibility there is for power and signal crossing within the cell. Routing flexibility enables more complex and better cells. Clean fractional ratios are also preferred as a grid is periodic and improves layouts. The 3:2 ratio gives SMIC more local routing flexibility than a strict 1:1 grid, but it also complicates layout and patterning. This is a DTCO choice, with SMIC increasing process complexity to recover density and routability without EUV. This 3:2 ratio is not very popular in the leading-edge nodes. TSMC has only used it on N7+, the N5 family, and the short-lived N3(B). They have switched back to a 1:1 ratio for N3E. Intel has only used it on the 10 nm/Intel 7 family, with Intel 4, 3 and 18A all using a 1:1 ratio. Samsung is the only one still using a 3:2 ratio at the leading edge, using it in the SF4 and SF3 families. It remains to be seen if SMIC will remain at a 3:2 ratio or move to a 1:1 ratio with its future nodes. The industry is still actively exploring these local-routing ratios. At VLSI 2026, imec will be presenting work on even higher ratios, including a 2:1 scheme that can reduce area by up to 14%. We will be covering the conference in a future newsletter article. Subscribe We’re diving deep into the most advanced datacenter and AI hardware hitting the market. To learn more about what’s in the pipeline or to commission a custom teardown, contact sales@semianalysis.com. Interested in joining us on this ride and think you can be a difference maker? Check out our Careers page. The final local interconnect layer for N+3 is M3, with a pitch of 44 nm. The M3 pitch is the same as on N+2 and 10% larger than on N6. The semi-global layers carry the majority of block-level signal routing. They have a coarser pitch than the lower local layers. On leading-edge nodes, they are designed to sit at the limit of DUV single patterning. M4 through M11 pitches were found divided between 80–82 nm (M4–M6), 128 nm (M7–M10), and 148 nm (M11). Given limited sampling, it is possible these are divided further in dense routing areas. At the top are two giant metal layers, M12 and M13. These have kept the same pitches as N+2 at 1920 nm and 4600 nm respectively. While the lower layers’ pitches are generally fixed by the process and library, the upper layers vary much more in pitch and count, depending on the design. Even two smartphone SoCs on the same process can have wildly different metal stacks. The Helio G99 carries fewer routing layers, reaching coarse metal pitches of 850 nm by M9, while the larger and higher-performance Kirin 9030 keeps fine pitches until M11. SRAM At the leading edge, SRAM is much more difficult to scale than logic. TSMC’s latest nodes have seen little to no bitcell scaling, while logic still has more DTCO levers to pull. While looking for other logic libraries in the GPU compute units, we stumbled upon the SRAM. The most common type of SRAM has 6 transistors (6T), but this cell had 8 transistors (8T) instead. 8T SRAM adds two transistors to form a dedicated read port. Unlike a 6T cell, where reading disturbs the storage, the decoupled read port removes read-disturb, improving read stability and letting the cell be pushed harder for performance. At first glance, the cut looked like an unusual logic library, with each cell row having 3 fins of one polarity and 5 fins of another. The rows also alternated in orientation. Energy-dispersive X-ray spectroscopy (EDS) resolved our confusion. The cut had not landed on the GPU logic, but on the SRAM macro beside it. The unusual fin pattern was due to the SRAM library. We return to EDS in the process flow analysis behind the paywall. SRAM libraries are not like traditional logic libraries. Due to the unequal number of PMOS and NMOS transistors, they require specialized rules and layout libraries. They do not need the flexibility of logic libraries, so they are hyper-optimized for one purpose: dense, reliable memory. The SRAM cell we found is a 1:2:2-2:2 cell. This means there is 1 fin per pull-up (PU) PMOS transistor, and 2 fins per pull-down (PD) and pass-gate (PG) NMOS transistor. These 2 PU, 2 PD and 2 PG transistors would usually form a single 6T high-current cell (HCC). An 8T HCC adds a read-pull-down (RPD) and a read-pass-gate (RPG) NMOS transistor, each with two fins. We measured a cell height of 406 nm, which brings the bitcell size to 0.0463 µm². That is a theoretical peak density of 21.6 Mib/mm². We estimate that a 6T HCC would have a cell height of 292 nm and a size of 0.0337 µm². This is ~12% larger than a 6T HCC on Intel 3 and 4. We also estimate the 6T high-density cell (HDC) to have a cell height of 228 nm and a size of 0.0260 µm². This is coincidentally the same as the logic standard-cell height measured earlier. The estimate puts the cell near Samsung 7LPP/5LPP and slightly below TSMC N7/N6. That is a theoretical peak density of 38.5 Mib/mm². 6T HDC is arguably the most important cell as it is used for the largest caches in a chip, the L3 caches and system-level cache (SLC). Both the Kirin 9020 and 9030 have split the SLC into 4 banks to raise total SLC bandwidth. In the Kirin 9030, the SLC increased from 2 MiB to 3 MiB per bank. Correspondingly, the number of arrays within the bank also increased by 50%, from 16 to 24. Each array can store 128 KiB and forms an orderly pattern on the die shot. From the Kirin 9020 to the Kirin 9030, the area of a 128 KiB SLC array decreased from 0.0477 mm² to 0.0392 mm², an 18% shrink. The achieved density is 25.5 Mib/mm², 66% of the theoretical maximum. While the SLC was quite similar across both chips, the L3 has seen some major changes, particularly in terms of its layout. The total capacity also went up from 10 MiB to 12 MiB. Much like the SLC, the L3 is also split into 4 banks. In the Kirin 9020, an L3 bank consisted of 16× 128 KiB arrays and 16× 32 KiB arrays. However, an L3 bank in the Kirin 9030 instead consists of 48× 64 KiB arrays. In the Kirin 9020 L3, a 128 KiB array was 0.0513 mm² and a 32 KiB array was 0.0154 mm². The size of the 128 KiB array is different on the L3 and SLC as the assist circuitry for the two arrays differs depending on their purpose. In the Kirin 9030 L3, a 64 KiB array is 0.0210 mm². Although not a like-for-like comparison, normalized for capacity, it is 18% smaller than the 9020’s 128 KiB L3 array and 31% smaller than its 32 KiB L3 array. The achieved density is slightly lower than the SLC, at 23.8 Mib/mm², 62% of the theoretical maximum. Unlike the L3 and SLC, the prime cores’ private L2 cache uses a 2-bank design. As the prime cores’ L2 is latency-critical, it likely uses 6T HCC instead of 6T HDC. The 9020 has 16 arrays in each bank while the 9030 has 32. Each array has a capacity of 32 KiB. A 32 KiB array in the L2 shrank from 0.0171 mm² to 0.0142 mm², ~17% smaller. The density is 17.6 Mib/mm², ~59% of the theoretical maximum for 6T HCC. SRAM scaled well from N+2 to N+3, shrinking by ~19%, close to the theoretical logic shrink. The caveat is that N+2’s bitcells were unusually large, bigger than comparable 7 nm-class nodes, so part of the gain is catch-up rather than true scaling. With the insights from STEEL’s teardowns, we will be doing a deep dive into SRAM in a future newsletter article. Subscribe Everything above came out of a single STEEL teardown: die annotation, block-level area analysis and TEM cross-sections through logic and SRAM. We’re diving deep into the most advanced datacenter and AI hardware hitting the market. To learn more about what’s in the pipeline or to commission a custom teardown, contact sales@semianalysis.com. Future Roadmap The same cross-sections that pin down N+3 also show where SMIC can go next. Although N+3 is already close to the practical limits of DUV multi-patterning in several layers, SMIC still has a few scaling levers left. A theoretical N+4 would likely start with cell height. N+3 uses 5 M0 tracks between its power rails. Moving to 4 M0 tracks, as on SMIC N+2 and TSMC N6, could reduce cell height by roughly 15%. The routing grid is only one side of the shrink; the front end also must fit into the smaller cell. One possible FEOL lever is reducing the p-to-n isolation spacing from two diffusion grid units to one. Intel used this scaling booster on Intel 4, and TSMC did so on its N3 family. This path trades layout flexibility for density. Fewer M0 tracks reduce local routing resources, while tighter p-to-n spacing raises integration and design-rule difficulty. M2 is also constrained by the cell height shrink. For SMIC to maintain a ~5.7-track cell, M2 would need to move toward ~35 nm. That would move another layer into SAQP territory. SMIC could also reduce the CGP from 57 nm to 54 nm. Intel reached a similar CGP on Intel 10 nm/Intel 7 without EUV. The local interconnect is also tougher. If SMIC keeps the 3:2 M1-to-gate ratio, M1 would need to shrink to 36 nm and would likely require SAQP as well. If SMIC moves to a 1:1 ratio, M1 could relax to 54 nm, but it would give up routing flexibility. Under this theoretical path, we estimate that SMIC N+4 could reach a cell height of 198 nm and a CGP of 54 nm, implying a Bohr density of 137.8 MTr/mm², on par with TSMC N5 or Samsung SF4. However, the difficulty is cumulative. Each step is individually plausible, but together they make N+4 harder than the transition from N+2 to N+3. It will likely take longer, cost more, and carry less process margin. A theoretical N+5 would require a larger integration shift. One possible path is backside contacts (BSCon), moving power routing and source/drain contacts to the backside, which would reduce front-side routing pressure and enable another reduction in cell height. The front-side metal pitches could relax to reduce the process complexity. M0 would likely relax slightly to ~34 nm, and M2 and M4 pitches could relax further. CGP is unlikely to shrink much further. Even with EUV, 48 nm has been the practical limit for yield and process control. This approach would allow N+5’s cell height to fall to 170 nm and its CGP to 53 nm. This implies a Bohr density of 163.6 MTr/mm², on par with Intel 18A’s HP library. However, this would not make N+5 cost-competitive with the leading edge. It would reach a similar density through a much more expensive route. The integration difficulty rises sharply, with new process flows for backside alignment, wafer thinning, contact reveal, and backside metallization. Past this point, standard density and interconnect scaling become increasingly unattractive. That is where Huawei’s roadmap stops looking like a normal foundry roadmap and starts looking like a packaging roadmap. At ISCAS 2026, Huawei unveiled its tau (τ) scaling law, reframing process scaling in the time domain. τ is the time cost of data movement and processing: switching delays in transistors, RC signal propagation delays in circuits, compute, memory, and networking latency. Outside Huawei’s terminology, this is called system-technology co-optimization. This is Huawei’s answer to its lack of EUV lithography. Without EUV, planar density cannot keep pace with TSMC, Intel, or Samsung. If transistor density cannot shrink further, Huawei’s alternative is to shorten wires, reduce buffering, and stack logic vertically. “LogicFolding”, Huawei’s implementation of this new scaling idea, is, in practice, an aggressive 3D stacking approach. AMD V-Cache places SRAM above or below a CPU die. AMD’s MI350X places active interposer dies (AIDs) underneath accelerator and compute dies (XCDs), with the AIDs handling cache, IO interfaces, the network-on-chip (NoC) and embedded metal-insulator-metal (MIM) capacitors. With LogicFolding, parts of the same logic block are split across multiple active dies bonded face-to-face at ultra-fine pitch. This allows Huawei to shorten some critical paths and reduce buffer overhead, not merely add cache capacity or offload the IO and interconnect. Shortening wires is where the higher clocks come from. A large share of a modern core’s delay and energy budget goes into driving long interconnects and the repeater buffers along them. LogicFolding distributes a block’s critical-path gates across multiple stacked tiers bonded at a very fine pitch, so the bond interface behaves like an additional metal layer and the longest paths get shorter. That is how Huawei expects to recover frequency and efficiency it cannot get from the process alone. Huawei’s roadmap shows its intent. Prime core frequency is targeted to rise from 2.75 GHz in the Kirin 9030 to roughly 5 GHz by 2031, far beyond what planar scaling alone could deliver. Prime cores with 3.1 and 3.39 GHz clocks are being tested in its labs, although their power consumption is unknown. Beyond that, chips are in the design, simulation or pathfinding phase, meaning the frequencies are targets. However, the direction matters more: LogicFolding also helps with performance, not just density. The catch is that Huawei’s density claim is not directly comparable to foundry densities. A stacked design can report more transistors per package footprint by adding active layers, even if each patterned die remains well behind TSMC or Intel in front-end density. This is how Huawei can claim to reach foundry 14A-equivalent density by 2031. This is not a like-for-like foundry comparison, with Huawei using stacked logic and measuring density per package footprint. On a normalized Bohr-density basis, SMIC N+3 is ~114 MTr/mm², 38% less than Intel 18A’s HD library. Huawei’s 3D roadmap closes the gap by stacking active logic, reaching 215 MTr/mm² by 2030. In 2031, the roadmap density jumps to 295 MTr/mm², implying either a third active layer, partial EUV insertion or aggressive planar DUV scaling. Huawei’s methodology makes other foundries look much denser as well. Applying it to AMD’s MI450X with an N2 top die on an N3P base die yields a theoretical density of 460.2 MTr/mm² in 2026, compared with Huawei’s 295 MTr/mm² in 2031. This Kirin 9030 does not use LogicFolding, remaining in a conventional mobile SoC package. Instead, it forms the baseline for how far Huawei and SMIC can push planar scaling. Future teardowns of Kirin and Ascend chips will show both planar logic density and Huawei’s hybrid bonding solutions. Export controls changed China’s optimization problem rather than ending it. EUV restrictions raised the cost and complexity of leading-edge manufacturing without freezing it. SMIC reaches N6-class logic density through DUV immersion, SAQP and DTCO, while Huawei shifts more of the burden onto architecture, packaging and system-level integration. Future nodes will be tougher. N+3 still had room to tighten local metals and reduce cell height and CGP. Further scaling without EUV leaves fewer levers. More aggressive multi-patterning adds masks and overlay error. SMIC can keep pushing DUV, but each step will get more expensive and less forgiving. The design side is just as critical. Huawei had domestic EDA tools and flows before the Kirin 9030, with the Kirin 9000s, 9010 and 9020 making that clear. Huawei was able to ship multiple consumer SoCs on SMIC N+2 and N+3 while cut off from the Western EDA stack. US export controls restricted EDA tools for advanced chips in 2022 but did not target tools for more mature chips. In 2025, the US government briefly placed much broader restrictions on EDA software from Synopsys, Cadence, and others, before lifting them less than two months later as part of a trade deal tied to rare earths. Huawei has been unable to access those tools because it remains on a US trade blacklist. That forced Huawei, SMIC and Chinese academic institutions to build their own tools and flows. Researchers at Peking University recently announced a prototype EDA tool for Huawei’s LogicFolding architecture, which requires a new flow to handle the multilayer layout and floorplan. This is not the same as replacing the full Synopsys or Cadence stack, but it shows where domestic EDA is headed: toward tighter co-optimization between architecture, process and packaging. These advances are also diffusing into the Chinese ecosystem. SMIC is licensing its N+2 and N+3 processes to HLMC/Hua Hong at the government’s direction rather than by choice. If the same process learning feeds into Ascend accelerators for AI training and inference, the choke point shifts from one named fab to an ecosystem. Alibaba’s T-Head silicon arm and Cambricon, a Chinese AI chip designer that is expected to supply ByteDance, could also be major beneficiaries. Sanctions aimed at SMIC alone become less effective once the manufacturing knowledge has spread to other fabs and design houses. China is not closing the gap with Intel, Samsung and TSMC. The teardown shows the opposite in several places: no EUV, no backside power, higher process complexity, and visible trade-offs. But China is still advancing. If domestic chips become good enough for phones, inference, networking and security-sensitive workloads, they can matter strategically without matching TSMC at the leading edge. Behind the paywall, we show what else STEEL can do, with material and process flow analysis of SMIC N+3, and analysis of the Kirin 9030 package. We’re diving deep into the most advanced datacenter and AI hardware hitting the market. To learn more about what’s in the pipeline, access the full Kirin 9030 and SMIC N+3 analysis or to commission a custom teardown, contact sales@semianalysis.com.
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We can create the future of science right now
Paul Litvak is the founder and Executive Director of the Robyn Dawes Institute and a Visiting Scholar at UC Berkeley. He has a PhD in Behavioral Decision Research from Carnegie Mellon where he studied emotions and the sunk cost bias. Over 15 years in industry, he solved a wide range of challenging technical problems. At Meta he created models optimizing the ad review process. At Google he ran experiments to measure social influence. At Airbnb, he was a product manager leading machine learning teams optimizing search ranking and price suggestions. He also co-founded and led product at Rhythmic Health, a venture-backed biosensing startup, creating an accurate low cost system using a color changing strip and a smart phone to measure salivary lactate. The bottleneck At this point, it is uncontroversial to say that science needs to stop using the PDF article as the unit of knowledge and currency. The unbearable slowness of scientific publishing, the profit motive and margins: I’m not saying anything new. The PDF also sucks because it’s hard to extract structured information, which makes it hard to do evidence synthesis. As a result, we do much less evidence synthesis than is needed. And evidence synthesis ultimately undergirds most policy and medical decision-making. I can see second-by-second real-time odds for any sporting or newsworthy event, but a school board can’t see the best evidence on whether their 8th graders should be taught algebra. As a society, we don’t treat this as an important problem. Again, not controversial. Not only is the problem well understood, but the solution has already been laid out. What we need is AI-assisted living evidence synthesis - (1) an open knowledge graph of atomic claims, (2) claims linked to evidence, (3) assessment and synthesis of each piece of evidence, and (4) continuous updating with new data. What few realize (yet) is that the technical capacity to build this vision for a significant portion of science already exists. Not only that, scientists and startup teams are already building many of these components. I know this because I’ve been surveying the space and talking to many of the builders. There are some missing pieces: for example, evaluations of how well some of the components work. But at this point, most of what’s missing is a fully end-to-end working integration of all of these parts. In the rest of this essay, I’m going to lay out all the parts of a working living evidence layer for science and who is working on them, and propose concrete next steps for building this system. What’s now possible The diagram above outlines the components of a living evidence synthesis platform, including some of the teams working on each component1. Scientific PDFs are processed into claims with associated evidence. The evidence is subjected to a forensic audit, methodological evaluation and robustness and reproducibility checks. Finally it’s given a weight in a continuously updating synthesis. What follows is a description and status of each component and a few of the teams working on them. Document understanding The first thing you need to be able to do is turn an article into structured data. Mostly that means parsing PDFs. There are often multicolumn layouts that confuse non-specialized PDF to text processing libraries. For scientific papers, there is the added complexity of parsing formulas and tables and figures. This is a really hot area - there are startups offering APIs, and it seems like a new open source package gets posted to Github every few weeks. What follows isn’t exhaustive. A package called GROBID was the state of the art for a while, they didn’t update their package for nearly two years until very recently. In the meantime reducto.ai released an AI powered PDF extraction API, PaddleOCR became popular, IBM released a model called Docling, and both Mistral and Gemini created models and libraries. I also know of at least one other well-funded psychology research group working on a paper parser. By contrast, there are few open evals in this space, with no extensive evals for complex table comprehension in particular. Nonetheless, I’m confident this will be a solved problem soon, given the combination of LLM advances and developer interest. Hypothesis level extraction There has been increasing interest in comprehending the extracted text of papers and linking information to evidence for each hypothesis. A lot of work has already been done. Trialstreamer (Marshall et al. 2020) and RobotReviewer LIVE (Marshall et al. 2023) demonstrated automated extraction of trial population, intervention, and outcome at scale on clinical RCTs. PaperQA2 (Skarlinski et al. 2024) and Ai2 ScholarQA (2024) extended this to retrieval-augmented question answering with citation grounding. Elicit, Consensus, and SciSpace operationalized claim-level extraction for end users. OpenEval (Booeshaghi et al. 2026) is the most recent and most ambitious: 1.96 million atomic claims extracted from 16,087 eLife manuscripts using Claude Sonnet 4.5, grouped into ~299,000 results, with LLM evaluations showing 81% agreement with human peer review on a 2,487-paper subset. None of these solutions link claims to test-statistics, as you would need to evaluate randomized controlled trials. This is why I built the evidence.guide API - to extract hypotheses and associated test statistics from behavioral science papers. The best public eval of this kind of extraction I’m aware of comes from the recent SCORE project - they had humans code thousands of psychology papers to extract their claims by hand. It would be extremely helpful to the world if all scientific PDFs were available as structured open data. I’ve been working to make this happen, both directly at Berkeley and through coordination with large entities I can’t yet speak of; as hard as it is to do, I think it’s possible2. Forensic audit A lot of work has been done on forensic audit, but some gaps remain. Of course, for biology papers that rely on images for evidence, there are a variety of tools (notably Proofig and ImageTwin) to spot anomalies. These are still well short of what sleuths like Elizabeth Bik can do on her own, but these tools are constant companions among fraud analysts. There’s someone working on auditing Excel files for anomalies, and a number of teams are automating numerical checks like GRIM and SPRITE, including Scrutiny project, the INSPECT-SR team as well as statcheck. The regcheck team is building a way to use AI to compare preregistrations to analyses in papers, to ensure there aren’t significant deviations. Nonetheless, there are many other kinds of anomalies to screen for, both public and less publicly known. And there are no formal evals for anomaly detection that I’m aware of. Still, there’s a lot to draw from in this space and I’m pretty certain we will be able to scan papers for most kinds of obvious anomalies in the near future. Methodological review This area has been white hot, though I fear for many of the startups in this space, because this capability may become commoditized. There are at least six different AI peer review companies, including Refine.ink, Reviewer3, ReviewerZero.ai, Q.E.D. Science, Paper Wizard, and Isitcredible. Coarse (a pun on refine) was also recently created as an open source alternative. These systems provide qualitative feedback on the content of papers, spotting methodological weaknesses and mathematical errors. They seem to work pretty well, and many academics report bitterly that they exceed the average quality of typical peer reviewers. But there are few evals here either. What evals exist so far involve using LLM-as-judge (circularity problems abound) or comparing against human reviews of questionable quality. What you’d ideally want is an eval that measures capturing known errors in papers3. Reproducibility and robustness Another active area has been using AI agents to automate computational reproducibility4 and robustness5 checks in papers that report numerical results. For more recent papers where data and code are available, AI agents can see whether they can re-run the analyses and produce the numbers reported in the published paper. In addition to a handful of individual academics who have been experimenting using Claude Code for this, the Institute for Replication is a leading group working on building an end to end system. The evals related to this problem are the most mature, with CORE-Bench (Siegel, Kapoor, Narayanan 2024) and PaperBench (OpenAI 2025) available to benchmark agents on this task. There is also work on getting AI agents to test alternative ways of analyzing the data to ensure the results are robust to small analytic design choices. Synthesis This is the most underdeveloped area where significant investment is required. Although some automated evidence synthesis systems exist — for example, otto-sr is building an AI agent to write systematic reviews — none of these incorporate the full range of paper level signals to weight evidence appropriately. Nor is there anything like an eval or a gold standard for a good systematic review. Arguably Cochrane reviews are the closest we have to gold standard human systematic reviews, though I’ve heard academics in the know complain about their uneven quality. A key question for a synthesis platform is how to weight anomalies and methodological issues in assessing the quality of a piece of evidence. This is an unsolved problem and one I’m very keen to work on. Continuous updating There are many pieces of basic infrastructure available for monitoring for new research and initiating updates. OpenAlex is the current open citation graph. Retraction Watch integrated into Crossref in October 2023. Scite tracks how citations support, contrast, or mention prior claims. The Living Evidence Network demonstrated continuous-update workflows in clinical guidelines. Engineering this is a relatively straightforward task. When you look over this technical architecture and all the progress being made, it’s hard not to be optimistic that a living guide to scientific evidence will be built. The stakeholders are ready The social infrastructure for this is starting to coalesce — it’s not just a pie in the sky academic exercise to imagine this coming into existence. Institutions like the Center for Open Science, the Institute for Replication, the INSPECT-SR, the Living Evidence Network and more are all working on scaling work to improve research quality. Funders are also aligned. The Sloan Foundation has funded living evidence work through COS. Coefficient Giving supports the Institute for Replication and COS. The Astera Institute and the Institute for Progress have shown interest in this space. NIH has established an Office for Replication and Reproducibility. Although there are (very unfortunately) serious headwinds in science funding generally, there is an active group of funders interested in metascience. A brief word about what I’ve been doing at RDI. First, as a Visiting Scholar at Berkeley I’ve been actively figuring out how a non-profit and a public university can conduct and make public the results of large-scale academic article data mining. With some of the money I raised from donors, I commissioned a legal analysis of recent case law and publisher text data mining (TDM) agreements in order to understand whether a massive open data mining of academic articles is possible (with caveats, it is). I’ve also been working to bring together stakeholders in this space, and identify gaps. I’ve also been doing some software development in this space, with more to come. A pilot proposal The assumption undergirding all of this is that an AI, given all this information, would make the right judgment about a scientific claim with lots of conflicting evidence, weighing all the factors appropriately. That’s the hypothesis we need to test. Randomized control trial research is the best place to focus on first. RCTs are used to make many of the important decisions in society - from medical trials to public policy changes. And they use a relatively uniform set of inferential statistics with lots of known and available diagnostics. Behavioral science experiments, within the broader realm of RCTs, should be first used as a testbed whose results can be generalized. Because behavioral science is at the vanguard of open science practices, replications abound (there are thousands of them) to serve as ground truth training data. Key Hypothesis Therefore the pilot would test, in behavioral RCTs that have been replicated, whether the quality of evidence for a claim can be used to accurately predict whether that claim will replicate. Secondary Hypotheses Compared to claims that replicated, non-replicated claims demonstrate a greater share of forensic anomalies in their source literatures. Hypothesis level claim and statistic extraction is accurate enough to scale living evidence without onerous human review costs. Replication prediction is more accurate than prediction markets6 or journal prestige. If all the different quality signals we gather do accurately predict which studies will replicate, then we can use that model to score evidence to power the living evidence layer. Why this is informative regardless of outcome If the pilot succeeds, the architecture extends to medical RCTs (where Living Evidence already operates and integration is mostly about claim representation), then to slices of basic biology with stable replication structure. If it fails, the field learns which quality signals are load-bearing and which ones metascience has oversold. Either result is a contribution to knowing what the literature supports. Implications for funders Because this burgeoning ecosystem of builders already exists, a well-informed philanthropic or government funder could play a crucial catalyzing role in bringing this future about. They could play at least three roles: creating open structured datasets, publishing open benchmarks and incentivizing the solving of key technical challenges. First, open archives of papers that the government maintains, like PubMed, could be turned into structured data amenable to large scale metascience and claim aggregation. I know the US government already has an interest in doing this, though some key open questions remain unanswered. How do you determine the best models and systems for accurately extracting information from papers? How can you establish a robust way to allow researchers to flag errors and correct them? And finally, how do you create a legal regime in working with publishers to maximize the scope of available papers? For the latter, a university or a private philanthropy may be better positioned to make structured data publicly available under journal subscription terms or fair use. Philanthropists or government funders could also coordinate to create or commission benchmarks that evaluate whether important problems have been solved. For example, an open benchmark for claim extraction from a range of different scientific article types would be extremely helpful. Ensuring the underlying data are accurate is vital for creating these evaluations. I’ve discussed opportunistically using various human-created datasets for this purpose, but a consistent problem is that errors in human data make it difficult for them to serve as a gold standard. Finally, with structured data and benchmarks available, the government or private philanthropy could use them to incentivize groups to develop machine learning systems that meet these benchmarks. Prizes are one potentially valuable tool for this. For example, you could establish a prize for a system that accurately updates a living meta-analysis for a small set of claims. Prizes are particularly useful as signals of problem importance, and can help create vibrant ecosystems of public and private research—see, for example the role the government played in kickstarting the current work on nuclear fusion. Conclusion The drawbacks of the current scientific publishing system are known. Scientists agree, metascientists agree, philanthropists agree: the published PDF plus citation graph isn’t the right substrate for maintaining a representation of the evidence base in science. The pieces needed to build the alternative either already exist or are rapidly taking shape. The community is forming around exactly this problem, with concrete partnerships and shared infrastructure. A pilot should start on behavioral science RCTs because that’s the slice of empirical science most amenable to legibility, where replication ground truth is richest, and where the failure modes are best documented. What’s been missing is the galvanizing mission to assemble these pieces into something that works. That’s what I’m proposing to build. *** 1 I have a broader field map that I’ll release publicly soon. This is me, building in public! 2 If this is something that you are excited about, please reach out and talk to me. 3 More on this very soon too! 4 This tests whether, given the code and the data, you can get the same statistics as reported in the published paper. 5 This tests whether the results are the same as a paper’s given alternative analytical decisions in conducting the analysis (like outlier omission). Closely related is the idea of a “multiverse” where you come up with many different ways of answering the same underlying research question with the same data, and test whether the results hold in all those alternative methods. There’s been work on the latter as well. 6 Some of the replications, e.g. those from the SCORE project, had paired the experiments with forecasts from prediction markets. So we get to look at this for free.
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Inside SpaceX’s Rockets-to-Riches I.P.O. Plan
The latest prospectus by Elon Musk’s company underscores its confidence in its planned market debut. But skeptics see reasons for concern.
May's top PlayStation games by copies sold
Yesterday’s State of Play gave us an idea of where PlayStation’s heading next. But we’ve had our May estimates for a couple of days now (we always update our data daily for clients), so it’s time to look at what performed best on PlayStation last month. We’ve got a new IP at the top, two evergreens doing their evergreen thing, FC26 smashing it ahead of the World Cup Plus pivot, and a quiet but promising result for Lego Batman. Let’s have a look at the state of Play…Station’s top games for May. 007 takes #001 007 First Light sold 1M copies on PS5 in May, easily making it the month’s top PS5 game by copies sold. Over 80% of those May copies were digital, which is broadly in line with where PlayStation’s digital share has settled for new releases this year. To date, 007 First Light has sold through 2.2M copies across platforms (so no unsold retail copies in that figure). The platform split is 55.1% PS5, 33.1% Steam, and 11.8% Xbox (console, Windows, and cloud combined). In gross revenue terms, 007 First Light has generated $150M. Owing to regional pricing and audience composition differences, the consoles make up a higher share of revenue than they do copies. Of the $150M, 60.5% came via PlayStation, 27.6% via Steam, and 12.9% via Xbox. Part of this is because over two-thirds of 007 First Light‘s PlayStation audience is in North America (43.4%) or Western Europe (23.2%), where local currency means the game generates more revenue per player. On Steam, under half of First Light‘s audience is from those same regions (31.8% North America, 15.1% Western Europe). As we covered in last week’s 007 Steam piece, the Steam version is pulling in higher-than-expected numbers in China, which now accounts for 17.3% of First Light‘s Steam audience. 007 is the equivalent of $44 USD in China, which is roughly 37% cheaper than the US price and about 44% cheaper than Western Europe. Subscribe for free to get the most accurate games estimates in your inbox twice a week 🫶 Subscribe The crossover data backs up what we’ve seen all year about launch-window cohorts. 11% of PS5 players who played 007 First Light in May also played Lego Batman: Legacy of the Dark Knight, which launched just a few days before. Last month was a great month for Denmark! IO Interactive is Copenhagen-based, and Lego Group is headquartered in Billund (TT Games is UK-based but produces work under Lego Group licence and direction). Speaking of which… A very blocky #2 and #3 Minecraft sold another 788K copies on PlayStation consoles last month. Business as usual, since Minecraft hasn’t sold fewer than 760K copies in a single month all year. With over 350M copies sold across all platforms, Minecraft is the best-selling game in history and one of the strongest brands in the world. Every month, a new cohort of children reaches Minecraft age, which guarantees a constant volume of new sales regardless of what the broader market is up to. The demographic refresh rate is truly impressive, with the audience renewing itself faster than it’s churning. Lego Batman: Legacy of the Dark Knight shifted 757K copies on PS5 last month, bringing its lifetime total on the platform to over 800K. Across all platforms, Legacy of the Dark Knight has now passed 1.5M sold through, so PlayStation accounts for over half of the game’s players. The May crossover data for Legacy of the Dark Knight on PS5 is also useful. 27% of those players also played Fortnite, 16% Roblox, 16% FC 26, and 14% NBA 2K. That’s the household-and-family cohort showing up, plus the launch-window cohort of core gamers who buy practically everything. FC 26 gets players through the door ahead of the World Cup FC 26 sold 411K copies on PlayStation last month (90% via PS5), the fewest copies FC 26 has sold all year and down heavily from April’s 700K. Part of this dropoff is because FC 26 has been available as a PlayStation Plus monthly game since 6 May, cannibalising premium sales. Subscribe for free to get the most accurate games estimates in your inbox twice a week 🫶 Subscribe The strategic logic is straightforward for EA, which is sacrificing premium unit sales in May to build up the player base ahead of the FIFA World Cup, which kicks off on 11 June. Obviously, a bigger player pool going into the tournament means a bigger pool of potential Ultimate Team spenders during the period when football attention is at its peak. The early returns are around what you’d expect, with 4.4M new players accessing FC 26 via PS Plus last month – a substantial new spender pool. Anecdotally, a few of my mates who were ‘’skipping FIFA and Ultimate Team this year’’, were drawn back in via PS Plus. Lo and behold, one of them is buying packs like it’s going out of fashion. Whether this is all a smart trade for EA depends entirely on the Ultimate Team conversion rate over the next six weeks. Either way, the short-term engagement impact on the game as a whole is evident. FC 26‘s MAUs hit a record 24M on PlayStation in May, up 30% from the previous record set in April. GTA V does what GTA V always does Rounding out the top five is another evergreen title. Grand Theft Auto V shifted another 387K copies on PlayStation last month. No matter what else is happening in the industry, GTA V keeps pulling players in. It’s sold another 1.8M copies on PS5 in the first half of this year alone, helping the franchise pass the 230M-sold milestone across all platforms. Subscribe for free to get the most accurate games estimates in your inbox twice a week 🫶 Subscribe I have a theory that Minecraft and GTA V are doing the same thing at different demographic levels. Both are functioning as generational gateway games that the audience ages into faster than it ages out of. Minecraft captures kids around age 6-10, GTA V captures much of the same audience around age 12-15 (unofficially, of course). The crossover data suggests this: 40% of GTA V‘s monthly PlayStation players typically play Fortnite in any given month, while 30% play Roblox. Household accounts aside, that’s not the original GTA V audience from 2013. Of course, the under-12 audience would love to get their hands on GTA, too. It’s always been the way of things, and some parents are happy to oblige. Mine did too back in the day, and I turned out just fine. Right? Right!? Want to get your hands on our data for yourself – for free? We’re offering a free trial of our platform for games companies. Send us a message here, or reply to this email, and we’ll set you up. The last word Reply to this email – or reach out here – if you have any feedback for the newsletter – or want to request a game for us to cover. [Alinea Analytics boasts the most accurate PC and console estimates in the business. Game makers use our platform to understand their audience, keep an eye on the competition, monitor sales trends, and spot new opportunities. We equip game studios and financial institutions with accurate data and the confidence to make smarter, data-driven decisions. Want to talk about all things games market data? We’d love to chat!]
Surrey sports day boosts confidence for disabled people
A charity says the event will help people stay active, build confidence and meet others.
WATCH: Dem senators excuse Platner's conduct at crisis huddle with embattled Maine candidate
Democratic senators express confidence in Maine Senate candidate Graham Platner despite alleged sexting scandals and resurfaced online posts controversies.
Top CEOs brace for downturn, warn US economy will worsen in next 6 months
CEO confidence plummeted from a reading of 59 to 47 in just one quarter, as corporate leaders report worsening economic conditions and shrinking hiring plans.
Luxury brands seek to lure America's AI super-rich
European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the rest of the world.
Staying the Course: Delivering Science with Confidence in a Changing World
By Bram Govaerts, Director General, CIMMYT
UK house prices fall for first time this year as Middle East crisis hits confidence
British house prices fell 0.6% in May, leaving them 1.7% higher than a year earlier, Nationwide reports
Japan’s Q1 capex stalls as Iran war concerns weigh on business confidence
(Corrects to restore dropped word 'flat' in lead paragraph) By Makiko Yamazaki TOKYO, June 1 (Reuters) - Japanese companies' annual spending on plant and equipment remained almost flat in the first quarter, data showed on Monday, pausing after a year ...
Japan's Q1 capex stalls as Iran war concerns weigh on business confidence
(Corrects to restore dropped word 'flat' in lead paragraph) By Makiko Yamazaki TOKYO, June 1 (Reuters) - Japanese companies' annual spending on plant and equipment remained almost flat in the first
Japan's Q1 capex stalls as Iran war concerns weigh on business confidence
Japanese companies' annual spending on plant and equipment remained almost flat in the first quarter, data showed on Monday, pausing after a year of strong growth as concerns mount over the impact of the Middle East conflict.
What would proof of alien life look like? Here's what scientists are really looking for | BBC Sky at Night Magazine
The scientific community tends to employ ‘confidence of life’ detection scales: a multi-step ‘ladder’ that begins with biosignatures.
Approved budget includes $29M for Florida Poly growth and student success
'This investment is a powerful vote of confidence in the role Florida Poly plays in advancing Science, Technology, Engineering, Math, and Medical education.'
Downtown Portland businesses see signs of revival after years of struggle
Some downtown Portland business owners say safety patrols and outreach efforts are helping restore confidence and revive the city’s core.
Steam Deck's Massive Price Hike May Not Bode Well for Steam Frame
Valve announced that Steam Deck is getting a sizable price hike, bringing an increase of $240 to $300 to its handheld gaming PC–not exactly a vote of confidence for those of us waiting for Steam Frame, its upcoming standalone VR headset. The company revealed the 512 GB OLED Steam Deck has increased from $549 to […]
American in Germany: My 8-year-old walks to school alone
As an American mom in Germany, I struggled with the anxiety of letting my child walk to school alone. The experience transformed his confidence.
Eurozone Economic Confidence Rises Despite Iran War Energy Shocks
Selling-price expectations eased across all business sectors, interrupting the steep upward trend seen in the last two months.
Scientific Societies Launch “Trust Seal” to Strengthen Confidence in Science
Scientific societies and scholarly publishing organizations launch the Trust Seal, a new community-led initiative designed to strengthen confidence in science by supporting trustworthy publishing practices, transparency, and independent governance across the research ecosystem.
Rachel Ward Had A Blunt Response To Critics Of Her Appearance — And It’s A Masterclass In Confidence
The British actor, best known for her role in 1983′s “The Thorn Birds,” recently returned to the public eye with a surprising career pivot.
Mental Health Matters: Three Stress Strategies For Women In Leadership
Burnout among women leaders is at a 5-year high. Three stress-management strategies to enhance clarity, confidence and steadiness under increasing pressure.
Fact check: Female politicians hurt by sexualized deepfakes
Female politicians around the world are being targeted by AI-generated sexual content, denting their confidence and reputations.
I redesigned my toddler's room to teach him independence
Victoria Lee Jones redesigned her son's bedroom to encourage independence, confidence, and self-expression from a young age.
Netanyahu increasingly isolated as Trump pursues Iran peace deal
The lack of a decisive victory in the Iran war has led to Trump losing confidence in the Israeli prime minister, analysts say.
5 science-backed ways parents can build a child’s confidence
Confidence is not something children magically “have” or “do not have.” It is built in small, repeatable moments: when a child is heard without being dismissed, encouraged without being overpraised, and guided without being controlled. Research-backed parenting practices point to a simple truth: children tend to feel more secure, capable, and resilient when home is predictable, warm, and emotionally steady. They also grow stronger when adults make room for effort, autonomy, movement, sleep, and good nutrition, because these basics shape learning, mood, and self-regulation. Here are five science-backed ways parents can help build lasting confidence in children.
Knicks vs. Cavaliers: Why Cleveland believes its 'process' can get team back in the East Finals
Cleveland, down 0-2 in the Eastern Conference Finals, projected confidence after shooting 25.7% from deep in Game 2
Poll shows voter confidence in economy plummeting to a nearly 4-year low
Concerns about rising costs are a problem for Republicans ahead of the midterm elections as Trump struggles to deliver on affordability pledges.
German Business Confidence Edges Higher Though War Concerns Still Weigh
Sentiment rebounded marginally this month, though remained near multiyear lows, as companies adapted to the energy shock prompted by the closure of the Strait of Hormuz.
French Business Confidence Languishes Below Long-Term Average
French business confidence remained weak in May, adding to evidence that the fallout from the Iran war is weighing on domestic demand in the euro area’s second-largest economy.
AMC Entertainment Stock Surges After CEO Buys Thousands of Shares
AMC Entertainment stock jumps 14.6% after CEO Adam Aron personally buys 250,000 shares, citing confidence in the 2026 box office recovery.
Ketanji Brown Jackson says Supreme Court risks being seen as political after voting rights decision
At a time when public confidence in the court is low, Jackson said the court must be careful to avoid being seen as political.
Taylor Bishop soars toward political career thanks to MSU internships
When Taylor Bishop (Class of 2026) came to Morehead State University from nearly three hours away in Greensburg, he found two things that put him on a clear path to college graduation and his future career. The first was his interest in history growing up, which expanded into political science after he started taking classes at MSU. "I really got interested in politics when I got to Morehead State," Bishop said. "It was like learning a language that I'd never known, and I fell in love with it instantly." The second key factor that shaped much of Bishop's college experience was taking his First-Year Seminar with instructor Rebecca Wright. Wright is also the coordinator of internships for MSU's Center for Career Development & Experiential Education and gave Bishop some important advice. For more information on gaining real-world experience like education abroad and internships at Morehead State University, contact the Center for Career Development & Experiential Education at careerservices@moreheadstate.edu or 606-783-2233. To learn more about MSU's Department of History, Philosophy, Politics, Global Studies and Legal Studies programs, contact hgpl@moreheadstate.edu or 606-783-2655. "You need to get internships wherever you can so it can get you wherever you want." Bishop took those words to heart and for much of his undergraduate career, he benefited from several meaningful experiences outside of the classroom that expanded both his knowledge and his confidence to succeed.
Report Warns Distrust in Elections Threatens Business Confidence and Economic Stability
/PRNewswire/ -- As the United States approaches its 250th anniversary, growing distrust in elections poses a threat to both democracy and the economy. A new...
Off-Strip outlet mall to add 9 new retailers this year
Las Vegas North Premium Outlets is adding nine new storefronts to its retail lineup. Some of the retailers are bringing their first outlet stores to the Las Vegas mall.
Canada’s sports minister hopes World Cup can lead to trade agreement with US and Mexico
Adam van Koeverden has expressed confidence that hosting the World Cup could be the key to agreeing a new trilateral trade deal with the US and Mexico
North East woman built business from illustrating mushrooms
Entrepreneurs in the North East say women need to have more confidence in their own business ideas.
The Yankees Reliever Confidence Index: May Edition
Tim Hill continues to sidewind his way up the bullpen pecking order
UK health minister Wes Streeting resigns
British health minister Wes Streeting resigned from government on Thursday, saying he had lost confidence in Prime Minister Keir Starmer's leadership.
20 Years Later: Finding Strength, Confidence, and Community at Sagewell Health & Fitness Eden
Read Precious’ inspiring weight loss story at Sagewell Health & Fitness Eden.
KFF Poll Finds That Most Adults Lack Confidence in Key Health Agencies to Act Independently — The Monitor
KFF’s latest Health Tracking Poll finds that confidence in the independence of key government health agencies overseeing food and drug safety and public health is low among the public and across partisans. Most of the public also share a distrust of agriculture, food, and pharmaceutical companies to act in the public’s best interest, compared with doctors and health care providers who are much more trusted among the public.
Inside the furor plaguing Democratic National Committee leader Ken Martin
Democrats keep winning at the ballot box. And yet Ken Martin, the man leading the Democratic National Committee, is facing a crisis of confidence among party officials who are increasingly concerned about the health of their political machine barely a year into his term.
The Barns at Blue Mountain joins 2026 Horses for Mental Health national campaign
For Allison Hughes, this isn’t just a barn It’s a place where she’s found confidence, connection, and healing.Alison bite 1 - being around these horses makes me
Introducing Northwood Insights, a New Blog for the Next Generation of Business Leaders
New content platform strengthens the university’s digital presence, broadens its reach among prospective students, and establishes Northwood as a thought leader in business, free enterprise, and entrepreneurial education. Northwood University has launched Northwood Insights, a new blog designed to position the university as a leading voice in business education, free enterprise, entrepreneurship, and career development. The platform delivers expert, research-informed content to prospective students, current students, and the broader professional community, meeting audiences where they already are online and searching for answers. “Northwood has always been about preparing people to move forward with clarity and confidence,” said Marketing and Communications Officer Rachel Valdiserri. “With Northwood Insights, we’re meeting students where they are with content that’s relevant, direct, and built for how they discover and learn today. It’s not about adding more noise; it’s about delivering ideas, perspectives, and insights that help them make more informed decisions earlier in their journey.” The blog features a growing library of articles spanning Northwood’s core academic strengths, including business administration, automotive and mobility studies, sports management, and entrepreneurship. Each piece is written to inform and guide, answering the real questions students are asking while organically connecting readers to the academic programs, faculty expertise, and career outcomes that define a Northwood education. Each article is crafted to reflect Northwood’s institutional voice while being optimized for the search behaviors of today’s prospective students, a generation that begins researching universities long before they apply. By appearing in those early search results, Northwood establishes credibility, builds familiarity, and creates a meaningful connection with students the moment they are most open to influence. “This platform is a natural extension of our enrollment strategy,” said Dr. Matthew Bennett, vice president of enrollment and strategic alliances. “When a prospective student searches for career paths, we want Northwood to be the source they trust. Northwood Insights makes that possible at a global scale.” Beyond enrollment, Northwood Insights serves the university’s broader advancement mission. As a platform built to demonstrate expertise and institutional relevance, it reinforces Northwood’s standing as a thought leader in free enterprise education and entrepreneurial leadership, directly supporting alumni engagement, donor confidence, and community partnerships. The content signals that Northwood is not only preparing students for the careers of today but actively shaping the conversations defining the industries of tomorrow. “Attention isn’t given anymore; it’s earned,” said Milada Dzevitski, Northwood’s digital content and technical writer who manages the Northwood Insights blog. “This platform is built to meet that standard, with content that’s relevant, direct, and worth engaging with.” Northwood Insights is live now and will continue to grow with new content published regularly. Share this page
Celtic's belief has never wavered in title battle
Benjamin Nygren insists belief and confidence is high at resurgent Celtic as they look to come out of the final two Premiership fixtures as champions. Sweden midfielder Nygren, who has scored 20 goals for Celtic this season, claimed belief is "very strong" among his team-mates.
AP report: Marty Makary resigning as Trump's FDA chief
At the FDA, Makary failed to win the staff's confidence after mass layoffs, leadership changes and a series of controversies in which the agency’s scientific principles appeared to be overridden by political interests.
U.S. Small-Business Confidence Ticks Up
Confidence inched higher in April, though it continues to be hampered by rising cost pressures.
Business Confidence Sinks in Peru as Radical Candidate Nears Runoff
Peru’s chaotic presidential election is taking a toll on business sentiment as a radical candidate edges closer to a runoff following a prolonged vote count.
Australia business confidence shaken as costs climb, survey shows
SYDNEY, May 12 (Reuters) - Australian business confidence remained mired in gloom in April, a survey showed on Tuesday, as spiking energy costs from the Middle East war squeezed profit margins and
Australia business confidence shaken as costs climb, survey shows
Australian business confidence remained mired in gloom in April, a survey showed on Tuesday, as spiking energy costs from the Middle East war squeezed profit margins and pressured investment plans.
ASU urban planning graduate blends expertise in geographic information science with passion for designing cities
When Dorian Lemarchand began pursuing his bachelor’s degrees online at Arizona State University during the pandemic, he was looking for a fresh start and a chance to rebuild his academic confidence.
Live Nation Entertainment Q1 Earnings Call Highlights
Live Nation Entertainment (NYSE:LYV) executives said the company expects a greater share of its 2026 concert growth to land in the third quarter, driven by a heavier mix of stadium and amphitheater events, while management reiterated confidence in live event demand across regions and venue types. O
Chicago Teachers Union wants $8.5 million dues hike to fund politics
“Has your brand become toxic?” This was a pointed question from WGN Political Editor Tahman Bradley, posed to Chicago Teachers Union President Stacy Davis Gates in a recent interview. Her immediate response: “I don’t understand the question.” When pressed, Gates added, “The Chicago Teachers Union is not a political party, it is a labor union.” But internal union documents show CTU leadership is trying to skim $8.5 million more from teacher paychecks explicitly for politics, while trying to silence union members critical of Gates’ leadership. Under the proposed dues hike, Chicago teachers would see up to $800 more per year flow from their paychecks to union coffers. The union already takes in more than $40 million a year, mostly from dues. And it spends less than 18 cents of every dollar on teacher representation. The No. 1 reason for the proposed dues hike? Politics. “We must win a majority of the first 21 person fully elected school board in November,” reads the first point in CTU’s member FAQ document.1 This directly contradicts CTU’s promise to members about how leadership uses dues money. The official CTU handbook tells members that the union does not use dues money for politics, so if they are interested in funding political activity, they should consider voluntary donations to CTU’s political action committee. “Our dues are not used for political purposes,” according to the handbook. “So our PAC relies on extra contributions from our members to support progressive candidates and to impact elected officials at the city, county and state levels.” This kind of double-speak is one reason members are concerned about another constitutional change slipped into the dues hike vote, which will take place on May 20-21: an attempt to stop members from holding the union accountable. A proposed amendment to the union constitution tries to place limits on when members may bring a lawsuit against the union for violating members’ rights.2 This provision is clearly a response to members’ lawsuit against union leadership regarding Gates’ years-long refusal to publish audited financial statements. The judge in that case has repeatedly denied the union’s attempts to dismiss it. Teachers opposed to these changes have been circulating this flier, urging members to vote no. What will CTU members get in return for millions of dollars in additional dues? If the 2024 school board elections are any indication—not much. CTU leadership’s record on school board races may not inspire confidence among members. A Chicago Policy Center analysis of a dozen affiliated PACs found CTU spent nearly $2.9 million on school board races in 2024. Of that spending, more than $2.1 million (75%) went to losing candidates. And while CTU-backed candidates lost six of the nine competitive seats overall, they fared worse in their biggest-spending races, losing five of six contests in which the union and its affiliates put up more than $250,000 for their candidate. The Chicago school board elections take place Nov. 3.3 Is another $8.5 million enough to clean up a toxic reputation? Not likely. Update on federal tax credit scholarship: Last week, Democratic New York Gov. Kathy Hochul said she plans to opt into the federal tax credit scholarship program. If Illinois Gov. JB Pritzker follows suit, Illinois could unlock $1 billion in donor money statewide for both public- and private-school students. If Illinois does not opt in, that money will flow to other states. The Last Ward reported in February on how Illinois Democrats could unlock at least $100 million in new resources for Chicago public-school students by opting in. Update on the investigation into how Chicagoans learned about a meeting to hike their property taxes: The Last Ward reported in January on an absurd, taxpayer-funded investigation into how local media learned of a planned Chicago school board meeting to hike the district’s property tax levy. That investigation is now complete. Lawyers interviewed two dozen witnesses, and found nothing. Update on Illinois’ muni debt crisis: My colleague Joe Tabor last week published a must-read piece in Crain’s Chicago Business about how Illinois recently rejected south suburban Harvey’s request to be designated a “distressed city.” The saga shows why the state must implement a better structure to assist insolvent local governments, including allowing for the option to pursue debt relief via Chapter 9 bankruptcy. The Last Ward reported in October on how Harvey is tipping the first domino in Illinois’ municipal debt crisis. Mincing Rascals: I joined the Mincing Rascals podcast to discuss the SAFE-T Act, the millionaires tax, and more. My “green light” recommendation: Force Majeure (2014). 1 Notably, the No. 2 reason cited is “resources to fund a state-wide millionaires tax campaign in order to fully fund the state’s school funding formula.” The constitutional amendment necessary to implement a progressive income tax in Illinois recently died in the Illinois House, meaning this question would not appear on the ballot until 2028 at the earliest. 2 There is seemingly no single-subject rule for CTU constitutional amendments. So members only get one vote on the full package. One cannot vote “yes” on the dues hike and “no” on the restriction of members’ rights, for example. 3 Illinois law grants far too much power over local government to unelected officials like Gates. State lawmakers should fix that.
How Investors May Respond To Madison Square Garden Entertainment (MSGE) Profit Squeeze And Kalshi Branding Deal
Madison Square Garden Entertainment Corp. has reported its fiscal third-quarter 2026 results, with revenue rising to US$246.26 million while net income eased to US$5.11 million, and separately entered a multi-year partnership making Kalshi an Official Prediction Market Partner with naming rights to the sixth-floor Kalshi Concourse at Madison Square Garden. Despite higher expenses weighing on quarterly profit, management’s confidence in robust full-year growth and the Kalshi collaboration’s...
Shropshire scheme aims to build business owners confidence
A pop-up shop will open to provide business owners with hands-on trading experience.
War, energy and politics hamper Eastern Europe's efforts to keep deficits in check
The Romanian government's political implosion this week in a no-confidence vote has cast a shadow over a region grappling with rising debt, defence spending and energy costs that are unsettling investors and ratings agencies alike.
Thongs, Taco Bell and the neuroscience of baseball’s weirdest rituals
Sports psychologists once treated rituals as a confidence trick — a placebo. The science has gotten more interesting than that.
Britain's JD Sports says Nike's Hill 'doing a great job'
Nike CEO Elliott Hill got a vote of confidence from one of its largest customers, British sportswear retailer JD Sports , whose boss said on Thursday he was "doing a great job".
Burlington therapist's jiu-jitsu gym helps people grapple with life
Jason Amerosa, owner of Grind BJJ in Burlington, found confidence through jiu-jitsu, leading him to social work and opening a mental health practice.
Nashville businesses say economy is holding up
The inaugural Quarterly Regional Business Confidence Index scored Nashville a 60.1 out of 100, according to the Nashville Area Chamber of Commerce.
A Science Policy Framework for the Climate Determinants of Health
In 2023, the World Health Organization (WHO) called climate change “the single biggest health threat facing humanity.” With warming at approximately 1.14°C above preindustrial levels and set to increase, the Intergovernmental Panel on Climate Change (IPCC) predicts with very high confidence that climate-related illness will also rise (IPCC, 2022). Under high-emissions scenarios, this science-policy body […]
A Science Policy Framework for the Climate Determinants of Health
In 2023, the World Health Organization (WHO) called climate change “the single biggest health threat facing humanity.” With warming at approximately 1.14°C above preindustrial levels and set to increase, the Intergovernmental Panel on Climate Change (IPCC) predicts with very high confidence that climate-related illness will also rise (IPCC, 2022). Under high-emissions scenarios, this science-policy body […]
Romanian Government Collapses, Sowing Doubts Over Fiscal Reforms
Romania’s minority government collapsed after losing a no-confidence vote, throwing the country into renewed political turmoil and potentially stalling reforms needed to narrow the widest budget shortfall in the European Union.
KidStrong offers science-based training program for children in Louisiana
KidStrong is a science-based kids training program designed to help children develop strength, confidence and character.
Fresh attacks in the Gulf spark fears of renewed war with Iran
A wave of fresh strikes on the UAE and Oman, along with reports of attacks on ships in the Strait of Hormuz, undermined confidence in the truce between the United States and Iran.
Small business confidence surges as Trump tax cuts deliver ‘blockbuster’ job growth
Small Business Administration Administrator Kelly Loeffler joins ‘Mornings with Maria’ to tout President Donald Trump’s small business agenda, highlight job growth from tax cuts and detail a crackdown on $22B in suspected fraud.
AAPI adults have more confidence and trust in medical professionals like doctors and scientists than government officials, and most are stressed about health concerns - AP-NORC
Personal finances are a source of stress for most AAPI adults, along with health concerns. And many are also stressed about discrimination, with 1 in 4 experiencing a hate crime or incident in the last year.
Analysis: De Zerbi channels positive performance
Roberto De Zerbi had demanded all negative thoughts be dismissed as he attempted to salvage safety in this wretched, turbulent season for Spurs. The response on the pitch was also outstanding as they tore into Villa from the first whistle, pressing high to force goalkeeper Emiliano Martinez and his defenders into poor clearances and uncertainty. Spurs suddenly looked like a team bursting with self-belief and confidence as the hosts, closing in on a place in next season's Champions League, were run ragged.
New Report: 93% of Small Businesses Expect Growth in 2026
/PRNewswire/ -- Small businesses are maintaining strong momentum in 2026, with sustained confidence in growth, increasing use of AI and continued reliance on...
NBA asks regulator to tighten restrictions on prediction markets
The NBA asked the nation's top commodities regulator on Thursday to impose tighter restrictions on players, game officials and team staff to ensure prediction markets don't undermine sports integrity and fan confidence.