Integrated Software Systems Corporation (ISSCO), doing business as ISSCO Graphics, was an American software developer and publisher based in San Diego, California, and active from 1970 to 1986. They were best known for their enterprise graphics software packages, including Tellagraf, CueChart and Disspla. == History == ISSCO Graphics had considered acquiring Breakthrough Software, whose software focus involved PC DOS, as a means of getting into the PC arena, but backed off when Computer Associates made an offer to acquire ISSCO. By early 1987 it was reported that "Issco users breathe sigh of relief" that all was well. The ISSCO User's Group was founded in 1976. ISSCO, which was founded in 1970 by Peter Preuss, was acquired by Computer Associates in 1986. == Notable products == === Tellagraf === ISSCO's Tellagraf is an early software package designed to allow end-users to "turn out full color, professional quality charts" with initial results displayed on a screen, modified as needed, and then "a final 'hard-copy' can be made .. or made into 35mm color transparencies for projection onto a screen." Users of Tellagraf often had access to CueChart and Disspla software. Often computer sites having one had all three. Terminals with varying degrees of graphics, such as the DEC's VT100 and Tektronix's Tektronix 4xxx family of text and graphics terminals. were supported, and the software ran on popular computing platforms. Four years are important to Tellagraf's early history: 1978: ease of use 1980: graphic-artist quality 1982: introduction of CueChart, and recognition by IEEE. 1983: "quality graphics enters the mainstream of data processing with ..." Tellegraf was eventually acquired by Computer Associates and renamed CA-Tellegraf. SAS users found it helpful. Universities, research institutes and financial services firms were among early users. === Disspla === Disspla is a package of data plotting subroutines that can be used from high level languages. It was also acquired by Computer Associates. === Tellaplan === In 1983 ISSCO introduced Tellaplan, "a project planning, report and schedule charting system for Tell-A- Graf users in IBM MVS or CMS or Digital Equipment Corp. VAX computers" atop which they built "two visual project management software packages" three years later.
Pixel
In digital imaging, a pixel (abbreviated px), pel, or picture element is the smallest addressable physical element of a raster image or the smallest controllable element of a display device or dot matrix printer. Pixels are arranged in a regular, two-dimensional grid, and each pixel serves as a sample of an original image, with a greater number of samples typically providing more accurate representations. Each pixel possesses a specific intensity or color, often composed of three or four component intensities, such as red, green, and blue (RGB), or cyan, magenta, yellow, and black (CMYK). The intensity of each pixel is variable, and in color imaging systems, these components are combined to produce a wide spectrum of colors. The concept of a picture element has existed since the early days of television, appearing as "Bildpunkt" in a 1888 German patent, and the term "pixel" has been used in various U.S. patents since 1911. In most digital display devices, pixels are the smallest element that can be manipulated through software. Each pixel is a sample of an original image; more samples typically provide more accurate representations of the original. The intensity of each pixel is variable. In color imaging systems, a color is typically represented by three or four component intensities such as red, green, and blue, or cyan, magenta, yellow, and black. In some contexts (such as descriptions of camera sensors), pixel refers to a single scalar element of a multi-component representation (called a photosite in the camera sensor context, although sensel 'sensor element' is sometimes used), while in yet other contexts (like MRI) it may refer to a set of component intensities for a spatial position. Software on early consumer computers was necessarily rendered at a low resolution, with large pixels visible to the naked eye; graphics made under these limitations may be called pixel art, especially in reference to video games. Modern computers and displays, however, can easily render orders of magnitude more pixels than was previously possible, necessitating the use of large measurements like the megapixel (one million pixels). == Etymology == The word pixel is a combination of pix (from "pictures", shortened to "pics") and el (for "element"); similar formations with 'el' include the words voxel 'volume pixel', and texel 'texture pixel'. The word pix appeared in Variety magazine headlines in 1932, as an abbreviation for the word pictures, in reference to movies. By 1938, "pix" was being used in reference to still pictures by photojournalists. The word "pixel" was first published in 1965 by Frederic C. Billingsley of JPL, to describe the picture elements of scanned images from space probes to the Moon and Mars. Billingsley had learned the word from Keith E. McFarland, at the Link Division of General Precision in Palo Alto, who in turn said he did not know where it originated. McFarland said simply it was "in use at the time" (c. 1963). The concept of a "picture element" dates to the earliest days of television, for example as "Bildpunkt" (the German word for pixel, literally 'picture point') in the 1888 German patent of Paul Nipkow. According to various etymologies, the earliest publication of the term picture element itself was in Wireless World magazine in 1927, though it had been used earlier in various U.S. patents filed as early as 1911. Some authors explain pixel as picture cell, as early as 1972. In graphics and in image and video processing, pel is often used instead of pixel. For example, IBM used it in their Technical Reference for the original PC. Pixilation, spelled with a second i, is an unrelated filmmaking technique that dates to the beginnings of cinema, in which live actors are posed frame by frame and photographed to create stop-motion animation. An archaic British word meaning "possession by spirits (pixies)", the term has been used to describe the animation process since the early 1950s; various animators, including Norman McLaren and Grant Munro, are credited with popularizing it. == Technical == A pixel is generally thought of as the smallest single component of a digital image. However, the definition is highly context-sensitive. For example, there can be "printed pixels" in a page, or pixels carried by electronic signals, or represented by digital values, or pixels on a display device, or pixels in a digital camera (photosensor elements). This list is not exhaustive and, depending on context, synonyms include pel, sample, byte, bit, dot, and spot. Pixels can be used as a unit of measure such as: 2400 pixels per inch, 640 pixels per line, or spaced 10 pixels apart. The measures "dots per inch" (dpi) and "pixels per inch" (ppi) are sometimes used interchangeably, but have distinct meanings, especially for printer devices, where dpi is a measure of the printer's density of dot (e.g. ink droplet) placement. For example, a high-quality photographic image may be printed with 600 ppi on a 1200 dpi inkjet printer. Even higher dpi numbers, such as the 4800 dpi quoted by printer manufacturers since 2002, do not mean much in terms of achievable resolution. The more pixels used to represent an image, the closer the result can resemble the original. The number of pixels in an image is sometimes called the resolution, though resolution has a more specific definition. Pixel counts can be expressed as a single number, as in a "three-megapixel" digital camera, which has a nominal three million pixels, or as a pair of numbers, as in a "640 by 480 display", which has 640 pixels from side to side and 480 from top to bottom (as in a VGA display) and therefore has a total number of 640 × 480 = 307,200 pixels, or 0.3 megapixels. The pixels, or color samples, that form a digitized image (such as a JPEG file used on a web page) may or may not be in one-to-one correspondence with screen pixels, depending on how a computer displays an image. In computing, an image composed of pixels is known as a bitmapped image or a raster image. The word raster originates from television scanning patterns, and has been widely used to describe similar halftone printing and storage techniques. === Sampling patterns === For convenience, pixels are normally arranged in a regular two-dimensional grid. By using this arrangement, many common operations can be implemented by uniformly applying the same operation to each pixel independently. Other arrangements of pixels are possible, with some sampling patterns even changing the shape (or kernel) of each pixel across the image. For this reason, care must be taken when acquiring an image on one device and displaying it on another, or when converting image data from one pixel format to another. For example: Liquid-crystal displays (LCDs) typically use a staggered grid, where the red, green, and blue components are sampled at slightly different locations. Subpixel rendering is a technology which takes advantage of these differences to improve the rendering of text on LCD screens. The vast majority of color digital cameras use a Bayer filter, resulting in a regular grid of pixels where the color of each pixel depends on its position on the grid. A clipmap uses a hierarchical sampling pattern, where the size of the support of each pixel depends on its location within the hierarchy. Warped grids are used when the underlying geometry is non-planar, such as images of the earth from space. The use of non-uniform grids is an active research area, attempting to bypass the traditional Nyquist limit. Pixels on computer monitors are normally "square" (that is, have equal horizontal and vertical sampling pitch); pixels in other systems are often "rectangular" (that is, have unequal horizontal and vertical sampling pitch – oblong in shape), as are digital video formats with diverse aspect ratios, such as the anamorphic widescreen formats of the Rec. 601 digital video standard. === Resolution of computer monitors === Computer monitors (and TV sets) generally have a fixed native resolution. What it is depends on the monitor, and size. See below for historical exceptions. Computers can use pixels to display an image, often an abstract image that represents a GUI. The resolution of this image is called the display resolution and is determined by the video card of the computer. Flat-panel monitors (and TV sets), e.g. OLED or LCD monitors, or E-ink, also use pixels to display an image, and have a native resolution, and it should (ideally) be matched to the video card resolution. Each pixel is made up of triads, with the number of these triads determining the native resolution. On older, historically available, CRT monitors the resolution was possibly adjustable (still lower than what modern monitor achieve), while on some such monitors (or TV sets) the beam sweep rate was fixed, resulting in a fixed native resolution. Most CRT monitors do not have a fixed beam sweep rate, meaning they do not have a native resolution at all – instead they
Spreading activation
Spreading activation is a method for searching associative networks, biological and artificial neural networks, or semantic networks. The search process is initiated by labeling a set of source nodes (e.g. concepts in a semantic network) with weights or "activation" and then iteratively propagating or "spreading" that activation out to other nodes linked to the source nodes. Most often these "weights" are real values that decay as activation propagates through the network. When the weights are discrete this process is often referred to as marker passing. Activation may originate from alternate paths, identified by distinct markers, and terminate when two alternate paths reach the same node. However brain studies show that several different brain areas play an important role in semantic processing. Spreading activation in semantic networks as a model were invented in cognitive psychology to model the fan out effect. Spreading activation can also be applied in information retrieval, by means of a network of nodes representing documents and terms contained in those documents. == Cognitive psychology == As it relates to cognitive psychology, spreading activation is the theory of how the brain iterates through a network of associated ideas to retrieve specific information. The spreading activation theory presents the array of concepts within our memory as cognitive units, each consisting of a node and its associated elements or characteristics, all connected together by edges. A spreading activation network can be represented schematically, in a sort of web diagram with shorter lines between two nodes meaning the ideas are more closely related and will typically be associated more quickly to the original concept. In memory psychology, the spreading activation model holds that people organize their knowledge of the world based on their personal experiences, which in turn form the network of ideas that is the person's knowledge of the world. When a word (the target) is preceded by an associated word (the prime) in word recognition tasks, participants seem to perform better in the amount of time that it takes them to respond. For instance, subjects respond faster to the word "doctor" when it is preceded by "nurse" than when it is preceded by an unrelated word like "carrot". This semantic priming effect with words that are close in meaning within the cognitive network has been seen in a wide range of tasks given by experimenters, ranging from sentence verification to lexical decision and naming. As another example, if the original concept is "red" and the concept "vehicles" is primed, they are much more likely to say "fire engine" instead of something unrelated to vehicles, such as "cherries". If instead "fruits" was primed, they would likely name "cherries" and continue on from there. The activation of pathways in the network has everything to do with how closely linked two concepts are by meaning, as well as how a subject is primed. == Algorithm == A directed graph is populated by Nodes[ 1...N ] each having an associated activation value A [ i ] which is a real number in the range [0.0 ... 1.0]. A Link[ i, j ] connects source node[ i ] with target node[ j ]. Each edge has an associated weight W [ i, j ] usually a real number in the range [0.0 ... 1.0]. Parameters: Firing threshold F, a real number in the range [0.0 ... 1.0] Decay factor D, a real number in the range [0.0 ... 1.0] Steps: Initialize the graph setting all activation values A [ i ] to zero. Set one or more origin nodes to an initial activation value greater than the firing threshold F. A typical initial value is 1.0. For each unfired node [ i ] in the graph having an activation value A [ i ] greater than the node firing threshold F: For each Link [ i, j ] connecting the source node [ i ] with target node [ j ], adjust A [ j ] = A [ j ] + (A [ i ] W [ i, j ] D) where D is the decay factor. If a target node receives an adjustment to its activation value so that it would exceed 1.0, then set its new activation value to 1.0. Likewise maintain 0.0 as a lower bound on the target node's activation value should it receive an adjustment to below 0.0. Once a node has fired it may not fire again, although variations of the basic algorithm permit repeated firings and loops through the graph. Nodes receiving a new activation value that exceeds the firing threshold F are marked for firing on the next spreading activation cycle. If activation originates from more than one node, a variation of the algorithm permits marker passing to distinguish the paths by which activation is spread over the graph The procedure terminates when either there are no more nodes to fire or in the case of marker passing from multiple origins, when a node is reached from more than one path. Variations of the algorithm that permit repeated node firings and activation loops in the graph, terminate after a steady activation state, with respect to some delta, is reached, or when a maximum number of iterations is exceeded. == Examples ==
MLOps
MLOps or ML Ops is a paradigm that aims to deploy and maintain machine learning models in production reliably and efficiently. It bridges the gap between machine learning development and production operations, ensuring that models are robust, scalable, and aligned with business goals. The word is a compound of "machine learning" and the continuous delivery practice (CI/CD) of DevOps in the software field. Machine learning models are tested and developed in isolated experimental systems. When an algorithm is ready to be launched, MLOps is practiced between data scientists, DevOps, and machine learning engineers to transition the algorithm to production systems. Similar to DevOps or DataOps approaches, MLOps seeks to increase automation and improve the quality of production models, while also focusing on business and regulatory requirements. While MLOps started as a set of best practices, it is slowly evolving into an independent approach to ML lifecycle management. MLOps applies to the entire lifecycle - from integrating with model generation (software development lifecycle, continuous integration/continuous delivery), orchestration, and deployment, to health, diagnostics, governance, and business metrics. == Definition == MLOps is a paradigm, including aspects like best practices, sets of concepts, as well as a development culture when it comes to the end-to-end conceptualization, implementation, monitoring, deployment, and scalability of machine learning products. Most of all, it is an engineering practice that leverages three contributing disciplines: machine learning, software engineering (especially DevOps), and data engineering. MLOps is aimed at productionizing machine learning systems by bridging the gap between development (Dev) and operations (Ops). Essentially, MLOps aims to facilitate the creation of machine learning products by leveraging these principles: CI/CD automation, workflow orchestration, reproducibility; versioning of data, model, and code; collaboration; continuous ML training and evaluation; ML metadata tracking and logging; continuous monitoring; and feedback loops. == History == Interest in operationalizing machine learning systems began to grow in the mid-2010s as ML projects started moving from experimentation to production use. The challenges associated with sustaining such systems were highlighted in a 2015 paper. The predicted growth in machine learning included an estimated doubling of ML pilots and implementations from 2017 to 2018, and again from 2018 to 2020. Reports show a majority (up to 88%) of corporate machine learning initiatives are struggling to move beyond test stages. However, those organizations that actually put machine learning into production saw a 3–15% profit margin increases. The MLOps market size was USD 2,191.8 Million in 2024, and is projected to be USD 16,613.4 Million in 2030. == Architecture == Machine Learning systems can be categorized in eight different categories: data collection, data processing, feature engineering, data labeling, model design, model training and optimization, endpoint deployment, and endpoint monitoring. Each step in the machine learning lifecycle is built in its own system, but requires interconnection. These are the minimum systems that enterprises need to scale machine learning within their organization. == Goals == There are a number of goals enterprises want to achieve through MLOps systems successfully implementing ML across the enterprise, including: Deployment and automation Reproducibility of models and predictions Diagnostics Governance and regulatory compliance Scalability Collaboration Business uses Monitoring and management A standard practice, such as MLOps, takes into account each of the aforementioned areas, which can help enterprises optimize workflows and avoid issues during implementation. Vendors such as Adaptive ML deliver commercial reinforcement learning operations (RLOps) and MLOps-infrastructure, targeting organizations deploying large language models in production. A common architecture of an MLOps system would include data science platforms where models are constructed and the analytical engines where computations are performed, with the MLOps tool orchestrating the movement of machine learning models, data and outcomes between the systems.
Data Science and Predictive Analytics
The first edition of the textbook Data Science and Predictive Analytics: Biomedical and Health Applications using R, authored by Ivo D. Dinov, was published in August 2018 by Springer. The second edition of the book was printed in 2023. This textbook covers some of the core mathematical foundations, computational techniques, and artificial intelligence approaches used in data science research and applications. By using the statistical computing platform R and a broad range of biomedical case-studies, the 23 chapters of the book first edition provide explicit examples of importing, exporting, processing, modeling, visualizing, and interpreting large, multivariate, incomplete, heterogeneous, longitudinal, and incomplete datasets (big data). == Structure == === First edition table of contents === The first edition of the Data Science and Predictive Analytics (DSPA) textbook is divided into the following 23 chapters, each progressively building on the previous content. === Second edition table of contents === The significantly reorganized revised edition of the book (2023) expands and modernizes the presented mathematical principles, computational methods, data science techniques, model-based machine learning and model-free artificial intelligence algorithms. The 14 chapters of the new edition start with an introduction and progressively build foundational skills to naturally reach biomedical applications of deep learning. Introduction Basic Visualization and Exploratory Data Analytics Linear Algebra, Matrix Computing, and Regression Modeling Linear and Nonlinear Dimensionality Reduction Supervised Classification Black Box Machine Learning Methods Qualitative Learning Methods—Text Mining, Natural Language Processing, and Apriori Association Rules Learning Unsupervised Clustering Model Performance Assessment, Validation, and Improvement Specialized Machine Learning Topics Variable Importance and Feature Selection Big Longitudinal Data Analysis Function Optimization Deep Learning, Neural Networks == Reception == The materials in the Data Science and Predictive Analytics (DSPA) textbook have been peer-reviewed in the Journal of the American Statistical Association, International Statistical Institute’s ISI Review Journal, and the Journal of the American Library Association. Many scholarly publications reference the DSPA textbook. As of January 17, 2021, the electronic version of the book first edition (ISBN 978-3-319-72347-1) is freely available on SpringerLink and has been downloaded over 6 million times. The textbook is globally available in print (hardcover and softcover) and electronic formats (PDF and EPub) in many college and university libraries and has been used for data science, computational statistics, and analytics classes at various institutions.
Coalition for App Fairness
The Coalition for App Fairness (CAF) is a coalition comprised by companies, who aim to reach a fairer deal for the inclusion of their apps into the Apple App Store or the Google Play Store. The organization's executive director is Meghan DiMuzio and its headquarters are located in Washington, D.C. == Background == In July 2015, Spotify launched an email campaign to urge its App Store subscribers to cancel their subscriptions and start new ones through its website, bypassing the 30% transaction fee for in-app purchases required for iOS applications by technology company Apple Inc. A later update to the Spotify app on iOS was rejected by Apple, prompting Spotify's general counsel Horacio Gutierrez to write a letter to Apple's then-general counsel Bruce Sewell, stating: "This latest episode raises serious concerns under both U.S. and EU competition law. It continues a troubling pattern of behavior by Apple to exclude and diminish the competitiveness of Spotify on iOS and as a rival to Apple Music, particularly when seen against the backdrop of Apple's previous anticompetitive conduct aimed at Spotify … we cannot stand by as Apple uses the App Store approval process as a weapon to harm competitors." In August 2020, Epic Games updated their Fortnite Battle Royale game app on both Apple's App Store and Google's Google Play to include its own storefront that offered a 20% discount on V-Bucks, the in-game currency, if players bought through there rather than through the app stores' storefront, both which take a 30% revenue cut of the sale. Both Apple and Google removed the Fortnite app within hours, as this alternate storefront violated their terms of use that required all in-app purchases to be made through their storefronts. Epic immediately filed lawsuits against both companies challenging their storefront policies on antitrust principles, arguing that their non-negotiable 30% revenue cut is too high and the restrictions against alternate storefronts anticompetitive. Apple countersued Epic over its behavior, leading to a highly publicized 2021 bench trial. Ultimately, Epic largely lost its lawsuit against Apple, though the court did order Apple to allow developers to point users to alternative payment methods. Conversely, Epic won its antitrust lawsuit against Google in late 2023. == Foundation == On 24 September 2020, Epic Games joined forces with thirteen other prominent companies—including the music streaming platform Spotify, Tinder owner Match Group, the encrypted mail service Proton Mail, and the crypto currency website Blockchain.com—to establish the Coalition for App Fairness. It also includes Basecamp. The coalition criticizes the fact that for now the app stores of both Apple and Google charge their clients a 30% fee on any purchases made over their stores. Apple and Google defended themselves by arguing that the 30% transaction fee is a standard in the industry while the Coalition for App Fairness states that there is no other transaction fee which is even close to the 30%. In October 2020, it was reported that the coalition grew from 13 to 40 members since its foundation and received more than 400 applications for membership. In October 2025, X (formerly Twitter) joined CAF. This was seen as a larger pushback in the industry against Apple and Google, and a step towards hopefully passing the Bipartisan Open App Markets Act. == Aims == The group has broadened their demands for the app stores and now also aim for a better treatment for the apps available in the App Store. They claim that Apple favors its own services before other services available on the market and unjustifiably excludes other apps from their App Store. The group has also been viewing other transaction fees like the 5% fee which is charged by credit card companies, and states that Apple charges up to 600% more and would like the 30% fee, which was only included in 2011 by Apple, adapted to a comparable percentage that charge other providers of payment solutions. Its demands are mainly directed at Apple's strict control over its App Store, but to a lesser extent are also directed towards Google. Google allows apps to be downloaded over an independent web link or also another App Store, such as the Epic Game App Store. The organization emphasizes that no app developer should come into the position in which they are discriminated and are not granted the same rights as to the developers of the owner of the app store. == Reactions == In October 2020, Microsoft presented a new framework concerning the access to its Windows 10 operating system by app stores other than the one offered by Microsoft. The new framework is based on the demands of the Coalition for App Fairness. Microsoft emphasized though, that these principles would not apply to the Xbox. In December 2020, Apple announced that they would be lowering the revenue cut Apple takes for app developers making $1M or less from 30% to 15% if app developers fill out an application for the lowered revenue cut. In March 2021, Google followed suit by also lowering the revenue cut from the Play Store from 30% to 15% for the first million in revenue earned by a developer each year. == Notable members == Members listed are notable companies listed as members the groups website: Blockchain.com Deezer Epic Games European Digital SME Alliance Fanfix Life360 Masimo Nium Proton Mail Spotify TapTap Threema Vipps
Timeline of artificial intelligence risks in global finance
The following article is a broad timeline of the course of events related to artificial intelligence risks in global finance. The AI boom has led to concerns including the existential risk from artificial intelligence, as the uptake on applications of artificial intelligence increases. By late 2025, global finance and artificial intelligence were "deeply intertwined". A June 2025 Menlo Ventures report raised concerns about the sustainability of future revenue and long-term profitability of AI, given the relatively low rate of consumer monetization. == 2017 == 30 NovemberThe New York Times said that new AI reports by McKinsey & Company, the National Bureau of Economic Research, and an AI Index created by university researchers, indicated an early AI boom. The Index built on a project—"The One Hundred Year Study on Artificial Intelligence" launched in 2014. == 2018 == 2018 was a year of incremental AI growth in finance. == 2022 == The release of ChatGPT by OpenAI became the catalyst for an artificial intelligence boom that continues to remake the global economy. According to a European Central Bank report, public interest in AI increased rapidly as evidenced with rising Google searches, AI jobs, models, patents, and innovations since late 2022. At that time Europe led the US in the size of its AI workforce. == 2023 == The regulatory body, the International Monetary Fund (IMF), published their report, "Generative Artificial Intelligence in Finance: Risk Considerations", drawing attention to oversight gaps and the need for regulations. The report explores the risks posed by using generative artificial intelligence (GenAI) systems in the financial sector including "broader risks to financial stability." == 2024 == January 12 In January 2024 Bloomberg's published its list of the "Magnificent Seven" Big Tech companies on the stock market based on their strength, size and market capitalization:Apple, Microsoft, Alphabet (Google), Amazon, Meta Platforms (Facebook), Nvidia, and Tesla. 21 June During the AI boom, Nvidia became the world's most valuable company, surpassing Microsoft, as its value increased to over US$4 trillion. In 2023 and 2024, the "Magnificent Seven" stocks were the primary drivers behind the increase in equity indexes, according to Reuters. == 2025 == === January === 23 January President Donald Trump's AI policy was announced calling for United States global leadership in artificial intelligence. The Economist noted that this politic shift in which the United States seeks "global dominance" in AI includes trimming regulations and assisting in expansion of infrastructure and increase in number of AI workers. Governments of Gulf nations were also investing trillions of dollars in AI. 27 January Against the backdrop of a tech war between China and the United States over AI dominance, within days of the launch of China's free DeepSeek App, it was the most downloaded app in the United States, rising to the first place in the Apple app store. President Trump responded immediately, saying this "sudden rise" should be a "wake-up" call to the United States, and called on US companies to be more competitive. === June === 26 June In their June 2025 report, Menlo Ventures estimated that only about 3% of consumers paid for artificial intelligence-related services, representing about $USD12 billion in annual spending. This is relatively low in contrast to the massive capital expenditure by AI infrastructure companies, which raises concerns about revenue sustainability and long-term profitability. === July === 23 July The Trump administration launched the US AI Action Plan, positioning the United States in a high-stakes technological race with China for global dominance in artificial intelligence, emphasizing that neither nation can afford to fall behind due to the exponential nature of AI advancement. The plan, a new government website and policy speech called for accelerated AI adoption across federal agencies, and a number of initiatives to make is easier for AI infrastructure expansion, and other measures to ensure American leadership in AI standards. Some leading experts warned that the administration failed to provide sufficient regulations and safeguards for AI safety. Concerns were raised about the negative impacts of cuts to research funding and tightened visa policies for scientists, potentially undermining public trust and America's ability to compete internationally. === September === 7 September The Economist cautioned that AI revenues are relatively modest compared to the high cost and investments in the creation of new data centers. Even Sam Altman, OpenAI CEO and one of the leading figures of the AI boom,, raised concerns about investors' outsized hopes for financial returns. At the same time, history has shown that new technologies, like railways and electricity, endured and spread after the initial hype faded. 12 September Economists warn that U.S. households' direct and indirect investments—mutual funds or retirement plans—in the stock market reached an unprecedented historically high level, now representing 45% of all financial assets, or about $USD51.2 trillion. Compared to the Dot-com bubble this represents a sharp increase in exposure. This makes U.S. households vulnerable to market downturns which in turn would result in decreasing consumer spending. U.S. household net worth rose to a record $176.3 trillion in the second quarter, an increase of $7.3 trillion since early 2025 and about $46 trillion higher than before the pandemic. Federal Reserve data attribute the surge primarily to gains in stock markets and housing values. However, the rise in wealth on paper coincided with increased household borrowing and growing government debt. 18 September Questions were being raised about how quickly the data centers, chips, servers, and GPUs assets of major AI companies will depreciate in value. Comparisons have been made to the Railway Mania in the aftermath of the stock market bubble where a valuable physical infrastructure remained standing, and the telecoms crash after the dot-com bubble which left fiber networks. 28 September There were warnings that record-high American stock ownership during the AI-fueled market boom is a red flag for systemic risk, as the current concentration in equities exceeds levels seen before the dot-com bubble burst in 2000, and could amplify the impact of any future stock market correction. === October === 3 October In 2025 alone, venture capitalists invested almost $USD200 billion in the artificial intelligence sector. 29 October Nvidia was the first company in the world to be valued at US$5 trillion, largely due to AI demand and strategic partnerships with leading technology and AI firms. Nvidia's increase in value was "meteoric". === November === 2 November Forbes reported that, since April, the 'Magnificent Seven' tech giants together contributed over 40% of the S&P 500's return, highlighting their outsized influence and the growing impact of AI on market valuations. CNN warned that while there is a current benefit to investors, with such a high concentration in the S&P 500, they are highly exposed to the fate of the Mag Seven. 2 November Globally there are 11,000 datacentres—huge campuses for AI infrastructure, including thousands of chips, GPUS, and servers. This represents a 500% increase over the last two decades. It is anticipated that $3USDtn more will be spent on increasing that number over the next two or three years. 5 November Concerns about the potential for a market bubble were raised as six of the AI-related Big Tech "Magnificent Seven"—that contribute to the AI boom—reported losing ground in the stock market. Global markets and artificial intelligence have become "deeply intertwined", according to a Reuters report. As of November 2025, more than 50% of the 20 largest S&P firms were deeply exposed to AI. In contrast, in 2000, the 20 S&P 500 firms represented 39% of its total value only 11 of these companies were exposed to the internet. If AI fails to deliver strong returns on their investments, these top S&P firms would be significantly impacted, according to the Economist. Analysts suggest that the AI market in 2025 may not behave like a traditional one, as investors are simultaneously aware of the risks and driven by the potential for outsized rewards. Leading AI labs may believe that the first company to achieve artificial general intelligence (AGI), when an AI system surpasses all human cognitive abilities and becomes capable of self-improvement—could dominate the future of technology and finance. While some have estimated that the potential value of such a breakthrough could be as high as $1.46 quadrillion, this figure is speculative and widely debated. 5 November Bloomberg described Nvidia's H100 Hopper-Blackwell AI chips as the "King of AI chips". Nvidia dominates the AI chip market with over 78% of the market share because of both speed and cost. According to B