Morning Scan

Banks are writing defense checks, AI labs are handing out equity, and a founder is asking who's accountable when an AI agent makes a mistake. The Elizabeth Holmes documentary is selling out theaters.

$5B — What JPMorgan has already deployed off its balance sheet into defense tech, hardware, and security. (CNBC)

Connected World

Robot factories and hypersonic missiles: JPMorgan Chase's first $5 billion of defense investments

America's biggest bank is now a direct investor in defense, and it's moving faster than most of the venture crowd. (CNBC)

JPMorgan expands 'JPM Coin' deposit token to Ethereum for institutional clients (paywall)

Permissioned bank money gets access to public chains, including Base. (The Block)

BoE scrutinises Barclays over claim traders misrepresented private credit exposure (paywall)

A complaint alleges derivatives used to finance private credit loans understated the risk. Expect more regulatory attention on private credit. (FT)

China's economy picks up pace with 4.5% growth (paywall)

Third-quarter GDP keeps the world's second-biggest economy on track for its full-year target. (FT)

Machines & Minds

Atlassian's Mike Cannon-Brookes: AI agents need a name tag—and a human to be accountable for their actions

Atlassian's cofounder is pushing back on "the AI did it" as an excuse for errors. (Fortune)

Bill Gross bets AI can help mass-produce 1 million new startups and 100 million new jobs

The Idealab founder is trying to scale himself with AI, and the ambition is large. (Fortune)

Disney agrees to hire the majority of Character AI's workforce

A "vast majority" of offered employees reportedly said yes, a way to acquire an AI team without calling it an acquisition. (TechCrunch)

Video game ownership bill introduced in Congress

Rep. Ritchie Torres's Power To The Players Act targets the "you don't really own it" fine print. (The Verge)

Connected World

Crypto.com, Novig sue Missouri over sports event contracts (paywall)

Kalshi, Polymarket, and Robinhood received the same cease-and-desist orders but have so far held off on suing. (The Block)

Waymo Plans First Canadian Robotaxi Expansion in Toronto for 2028

Groundwork starts soon, though driverless rides are two years away. (Hypebeast)

Connected World

Elizabeth Holmes Documentary 'You Can See Everything' Opens to Over 2,000 Sold-Out Shows (paywall)

A big splash for a film not yet in wide release, and evidence that appetite for Theranos content remains high. (NYT)

adidas Originals Bundles Up Four-Legged Companions for Winter 2026

Three stripes, now with paws, for dogs. (Hypebeast)