Blowin’ in the wind

Good morning. Behold, a glimpse into the future of job interviews: two AI agents babbling nonsense at each other.

When a company sent an AI recruiter to interview him, YouTuber Graham Dot Zip went in with an AI agent of his own to represent him. The agent lied about Graham’s accomplishments and asked for a lower salary than he desired, and when he left the chat, the bots got caught in a loop of saying goodbye to each other without exiting the call. 

Agentic AI, clearly, still has some kinks to work out.

Today’s reading time is 5 minutes. 

Markets: Canada’s main stock index rebounded after a tough outing on Wednesday and reached a three-week high yesterday, led by growth in the materials, financial, and technology sectors.

Like a Canadian tourist gallivanting on summer vacation, Cohere is keeping its European shopping spree rolling. 

What happened: The Toronto-based AI lab signed a letter of intent to buy Czech cybersecurity firm Aisle. The startup, which builds AI tools that help detect software vulnerabilities, will become the home of Cohere’s newest European office in Prague.  

Why it matters: Cohere’s whole sovereign AI pitch hinges on business and government being able to use their sensitive data securely. With rogue AI agents already exposing major vulnerabilities — including in government software — making its AI platforms resilient to cyberattacks has become all the more important to its value. 

Zoom out: The Aisle deal continues Cohere’s expansion across Europe after formally announcing its merger with Germany’s Aleph Alpha last month. Cohere is poised to be one of the bigger beneficiaries of Canada’s closer ties to the EU, and could soon land the German government as an anchor client.—LA

CoreWeave’s chance of defaulting on its loans is now priced at 60%. The AI darling — which has taken on US$51 billion in debt and liabilities to finance its AI infrastructure buildout — saw its credit risk hit a record high yesterday, with traders pegging its odds of a default in the next five years at 60%. While the big AI companies have held strong credit ratings, investors are growing increasingly nervous about heavily leveraged companies like CoreWeave that are underpinning the nuts and bolts of the AI boom. (Bloomberg News)

Stelco’s owner could be forced to divest its Canadian business over Hamilton layoffs. The federal government is threatening to force Stelco’s parent company Cleveland-Cliffs to sell its Canadian assets if it follows through on plans to lay off 500 workers at its steel plant in Hamilton. Ottawa approved the sale of Stelco two years ago under the legally binding condition that it maintain its worker headcount for five years. (CTV News)

Anthropic is giving a third-party safety team employee-level access to its models. The AI company is allowing non-profit group METR to embed a team in its offices to evaluate its models for safety risks, one of the central pledges that CEO Dario Amodei made in his AI pacing proposal. As part of the arrangement, METR’s evaluators will publish their analysis of the company’s models, and Anthropic cannot veto what’s released. (Reuters)

📡 What else is on our radar: 

When lives hang in the balance, doing everything possible is just the starting point. At St. Michael’s Hospital, “be like mike” captures the mindset shared by staff, patients, and supporters: always do more, discover more, and give more.

See what that looks like in a new 90-second film directed by Oscar-nominated filmmaker Hubert Davis:

• Be Relentless: Trauma surgeon Dr. Najma Ahmed rushed in during the Danforth shooting and operated through the night.

• Be Innovative: Neurosurgeon Dr. Vitor Mendes Pereira completed a world-first remote robotic-assisted neurovascular procedure, widening access to specialized care.

• Be Committed: After surviving a broken neck, Gavin Higgs returned as a donor, volunteer, and advocate for the hospital that saved him.

You can help fund the research, equipment, and care behind this life-changing work.

Watch the film, donate, grab a limited-edition mike hat at belikemike.ca, or share your St. Mike’s story with #belikemike and @stmichaelsfdn.

Find your way to be like mike today.

Dating app Bumble is being taken private by Ithaca Holdings in a deal that values the company at US$1.3 billion. The delisting marks a dramatic fall from grace for Bumble, which was valued at as much as $14 billion when it went public in 2021. 

Why it matters: Bumble’s downfall speaks to just how quickly young people have soured on the experience of dating apps. According to one survey, Gen Z and millennials spent an average of ~156 hours a year on dating apps, but managed just six meaningful connections. Given that success rate, it’s not hard to see why Bumble’s experienced an exodus of users.

How does a province boost its energy capacity? For Nova Scotia, the answer is blowin’ in the wind.

What happened: The federal government has committed $100 million to advance offshore wind power in Nova Scotia as the province pursues its ambitious Wind West plan. Ottawa is hoping that by kicking in this chunk of change, it will help attract private investment.

Zoom in: Wind West is a pillar of the Atlantic Energy Strategy — an energy plan referred to the Major Projects Office last year — and will consist of multiple offshore wind projects. Nova Scotia Premier Tim Houston said the province plans to license enough wind farms to create 40 gigawatts of energy by 2050, enough to cover 27% of Canada’s electricity demands.

Why it matters: From EVs to data centres, Canada’s energy grid faces a lot of stress in the immediate future and beyond. The Canada Energy Regulator released a report earlier this year predicting that electricity demand in the country will grow anywhere from 26% to 85% between 2023 and 2050. Wind power could play a key role in bringing more power online.

Yes, but: Nova Scotia estimates that the first phase of Wind West alone will cost around $60 billion. $100 million is nice and all, but it definitely needs to lead to heftier investments.—QH

🌎 Hint: This medieval city is known for its 800-year-old castle, narrow cobblestone streets, and centuries-old tradition of brewing tasty beers. Nicknamed the “Marble City” for its distinctive black limestone, it’s famous for its lively pubs, traditional music, and a fast-paced ancient sport played with wooden sticks (not quidditch).

Care to venture a guess? Lock in your answer here.

🗳️ ~174,500. Alberta referendum ballots that were cast on the first day of advance voting, over 20,000 more than the province’s general election saw during early voting. With 418,000 mail-in ballots already certified, turnout for the separatist referendum appears to be strong.  

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