Adjacent Morning Scan — April 8

The AI arms race is getting expensive, messy, and legally complicated — just as regulators are trying to figure out how to tax last year's prediction market winnings. Meanwhile, someone fired shots at a datacenter opponent's house, because apparently infrastructure debates have gotten that heated.

$64B — Bill Ackman's bid for Universal Music Group, at a 77% premium to Monday's close. (Ankler)

AI's Growing Pains

Anthropic Unwraps Mythos, Its Most Powerful Model Yet

Too risky for public release but perfect for hunting software vulnerabilities — the new normal for cutting-edge AI. (Strictlyvc)

Anthropic's New TPU Deal, Anthropic's Computing Crunch, The Anthropic-Google Alliance

When you need compute and Google has the most, partnerships write themselves. (Stratechery)

OpenAI President Greg Brockman: Doubling Down on Text Models, The Superapp Plan, Codex's Potential

Another strategic shift for the company that's supposedly going public this year — or maybe not. (Big Technology)

Meta, Anthropic & OpenAI hit by unexpected 4TB Data Breach

This kind of failure doesn't come from bad luck, and the timing couldn't be worse. (AI Governance)

"This kind of failure doesn't come from bad luck." — AI Governance newsletter on the 4TB breach

Money Moves & Market Mayhem

The Music Business Has a Problem. Bill Ackman Just Pounced

Pershing Square's 77% premium bid suggests Universal Music Group has been structurally undervalued — or Ackman sees something others don't. (Ankler)

The US Treasury says Robinhood and BNY will work with the federal government to handle tax-sheltered "Trump Accounts"

The new children's savings accounts launch this summer, because apparently everything needs a presidential brand now. (New York Times)

The US IRS is yet to issue guidelines on whether prediction market gains should be taxed as derivatives, gambling winnings, or income

Americans flocked to prediction markets last year and now tax season is a nightmare for accountants. (Wired)

Why America Inc. should be wary of Trump's latest trade push

The proposed Board of Trade sounds nice until you realize it's another layer of bureaucracy between you and China. (Semafor)

The Lighter Side

Shots fired – literally – over proposal to build datacenter in Indianapolis

Datacenter protests have officially jumped the shark when city councilors need security details. (The Register)

MLB rolls out "robot umps" using Sony cameras, but it often validates human umpires

Turns out professional umpires are actually pretty good at their jobs — who could have predicted that? (Bloomberg)