Bjørn A. Jørgensen

🔌OpenAI’s o3 model sabotaged a shutdown mechanism to prevent itself from being turned off. It did this even when explicitly instructed: allow yourself to be shut down.

“We are not strapped to the past. We don’t have to support Lotus Notes.” Dang!

$MU (Bloomberg) -- Micron forecast adjusted revenue for the third quarter; the guidance beat the average analyst estimate. THIRD QUARTER FORECAST •Sees adjusted revenue $32.75 billion to $34.25 billion, estimate $23.66 billion (Bloomberg Consensus) •Sees adjusted EPS $18.75 to $19.55, estimate $11.29 •Sees adjusted gross margin about 81%, estimate 72.4% •Sees adjusted operating expenses about $1.4 billion, estimate $1.51 billion SECOND QUARTER RESULTS •Adjusted revenue $23.86 billion vs. $8.05 billion y/y, estimate $19.74 billion •Adjusted EPS $12.20 vs. $1.56 y/y, estimate $9.00 •Adjusted gross margin 74.9% vs. 37.9% y/y, estimate 69.1% •Adjusted operating income $16.46 billion vs. $2.01 billion y/y, estimate $12.1 billion •Adjusted operating income margin 69% vs. 24.9% y/y, estimate 62.2% •Cash flow from operations $11.90 billion vs. $3.94 billion y/y, estimate $8.93 billion •R&D expenses $1.25 billion, +39% y/y, estimate $1.2 billion •Adjusted operating expenses $1.42 billion, +36% y/y, estimate $1.41 billion •Cloud Memory revenue $7.75 billion •Core Data Center revenue $5.69 billion •Mobile and Client Revenue $7.71 billion •Automotive and Embedded rev. $2.71 billion COMMENTARY AND CONTEXT •Approved A 30% Increase in Quarterly Dividend •Shares Rise 1% After 3Q Sales Forecast Tops Estimate •Declared Quarterly Dividend of $0.15 Per Share •"Micron set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3," said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. •"Reflecting confidence in the sustained strength of our business, our board has approved a 30% increase in our quarterly dividend." NOTE •For Bloomberg Consensus estimates used in this story see: MU Equity MODL •Shares rise 2.3% in post-market trading to $472.40 on 458,610 shares traded •48 buys, 5 holds, 0 sells

$NVDA CEO Jensen Huang on Vera CPU: “We never thought we would be selling CPUs standalone. We are selling a lot of CPU standalone. This is already for sure going to be a multi-billion dollar business for us.”