D-Wave Quantum secures $100M CHIPS Act funding for qubit roadmap

source:

[1] How Could Federal Backing Advance D-Wave's Quantum Efforts? (https://www.zacks.com/stock/news/2939189/how- ...)[2] How Could Federal Backing Advance D-Wave's Quantum Efforts? - Zacks Investment Research (https://www.zacks.com/stock/news/2939189/how- ...)[3] D Wave Quantum (QBTS) Secures $100 Million And Sets 100 Logical Qubit Roadmap - Yahoo Finance (https://finance.yahoo.com/markets/stocks/arti ...)

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Jul 16 2026, 18:00

Janus Henderson taken private in $7.85 billion deal with Trian, General Catalyst

Janus Henderson Group Ltd. agreed to be taken private by an investor group led by Trian Fund Management and General Catalyst Group Management in a transaction valued at about $7.85 billion, the companies said Thursday. "The transaction represents a compelling outcome for shareholders and positions Janus Henderson for long-term success as a private company," Ali Dibadj, chief executive officer of Janus Henderson, said in a statement. The investor group, which also includes Qatar Investment Authority and other institutional backers, acquired all outstanding shares of the London-based asset manager through a statutory merger under Jersey companies law. Janus Henderson, which had about $500 billion in assets under management as of March 31, will continue to be led by its existing management team, with main offices split between London and Denver. The firm employs more than 2,000 people across 26 cities worldwide. The take-private of a publicly listed asset manager with roughly half a trillion dollars in AUM signals growing appetite among private equity and sovereign wealth funds for the asset management sector. Janus Henderson will delist from the New York Stock Exchange upon completion, ending its run as a public company. The involvement of General Catalyst, a venture firm known for technology investments, alongside activist investor Trian, suggests a push to modernize traditional asset management through operational improvements and technology integration. Sterlington advised the Janus Henderson management team on the transaction and go-forward equity compensation arrangements. Executive Compensation partner Jeremy L. Goldstein and M&A partner Christopher S. Harrison led the Sterlington team, which included Jake Ebers and Audry Casusol. Ogier advised the investor consortium on Jersey law aspects, working with lead counsel Debevoise & Plimpton LLP. The Ogier team was led by Corporate partner James Fox and senior associate Robin Burkill. The deal highlights the use of Jersey's statutory merger regime for large public M&A transactions, a structure that allows for efficient cross-border deal execution. Janus Henderson, formed through the 2017 merger of Janus Capital Group and Henderson Group, had traded on the NYSE as a Jersey-incorporated holding company. This article is for informational purposes only and does not constitute investment advice.

Jul 16 2026, 17:57

Fed's Logan warns AI demand may require rates above 5.5%

Dallas Federal Reserve President Lorie Logan called for "modestly higher" interest rates, warning that surging demand tied to artificial intelligence investment is creating short-term inflation pressures that could keep price gains above the central bank's 2 percent target. "Current policy is not sufficiently restraining the economy, and early, gradual tightening would reduce the risk of more aggressive hikes later," Logan, a 2026 FOMC voter, said in prepared remarks Thursday. She described the recent moderation in inflation as offering only a "tenuous" path back to target. Logan pointed to upside risks from Middle East tensions and strong demand linked to AI infrastructure spending, arguing that demand is already outpacing supply. Her comments come after the Fed held its benchmark rate at 5.25 percent to 5.5 percent at the June meeting, where all 19 policymakers backed the decision to hold steady. Kansas City Fed President Jeff Schmid echoed similar concerns, warning that inflation remains "concerning" and broad-based, pushing back against the view that price pressures are temporary. Logan's hawkish stance signals a growing divide within the Federal Reserve as officials weigh whether the recent easing in consumer prices is durable enough to keep policy on hold. Markets are pricing a high probability that the Fed will keep rates unchanged at the next meeting, though her comments raise the prospect of dissent and intensify debate over the policy path. **AI Demand as an Inflation Driver** Logan's focus on AI investment as a source of inflationary pressure marks a notable shift in the central bank's debate. The Dallas Fed president described AI-related demand as "huge and real," with data center buildouts, chip manufacturing capacity, and energy infrastructure all contributing to a demand environment that she said is already outstripping supply. The last time a Fed official explicitly linked technology investment to near-term inflation was in early 2024, when then-Governor Christopher Waller cited AI-related capital spending as a factor in sticky services inflation. The S&P 500's tech sector has since gained roughly 18 percent, while the Philadelphia Semiconductor Index has more than doubled. **A Hawkish Divide Emerges** Logan's call for tighter policy puts her at odds with the majority of FOMC participants who backed the June hold. Schmid, while stopping short of explicitly calling for a hike, said it would be "premature" to rely on a single softer inflation reading, especially with oil prices rising again. Brent crude traded near $85 a barrel Thursday, supported by escalating Middle East tensions after Iran asked Yemen's Houthi movement to prepare to close the Red Sea route if the U.S. targets its infrastructure. The dual threats to the Strait of Hormuz and Bab el-Mandeb, which together handle a significant share of global oil flows, have pushed shipping costs higher and raised the risk of supply disruptions that could feed into headline inflation. **What Comes Next** The Fed's next policy meeting is scheduled for late July, with CME FedWatch data showing markets pricing a high probability of unchanged rates. Logan's comments suggest that any further upside surprises in inflation data could shift the balance toward tightening, particularly if AI-driven demand continues to accelerate. For investors, the key question is whether the AI investment cycle — which has driven much of the equity market's gains this year — will ultimately prove disinflationary through productivity gains, as some economists argue, or whether it will keep price pressures elevated enough to force the Fed's hand. *This article is for informational purposes only and does not constitute investment advice.*

Jul 16 2026, 17:42

Schmid warns inflation at double the Fed's 2% target ahead of July meeting

Kansas City Fed President Jeff Schmid said inflation is still running at about double the central bank's 2% target, warning that price pressures have broadened beyond energy into food and services. "Inflation is still running well above our 2% objective, and we need to see sustained progress before we can be confident it's returning to target," Schmid said at an economics forum in Nebraska, according to Reuters. The May core PCE index — the Fed's preferred inflation gauge — rose 3.4% from a year earlier, well above the central bank's goal. The consumer price index climbed 4.2% year-over-year in May, with food prices accelerating faster than their pre-pandemic average. Schmid cautioned against viewing the better-than-expected June CPI print as the start of a sustained downtrend, noting that lower energy prices may have temporarily flattered the data. The comments come as the Federal Reserve prepares for its July 28-29 meeting, with the federal funds rate currently at 3.50% to 3.75% — unchanged for four consecutive meetings. Futures markets assign a 74.9% probability of a hold this month and a 25.1% chance of a quarter-point hike, according to CME FedWatch data. New Chair Kevin Warsh has taken a hawkish stance since taking office in May, removing traditional forward guidance in favor of pure data dependence. The broadening of inflationary pressures Schmid described poses a particular challenge for policymakers. While energy prices have retreated from their peaks after the reopening of the Strait of Hormuz in late June, food costs continue to climb faster than historical averages, and services inflation has proven stubbornly persistent. The shelter component of CPI, which accounts for roughly one-third of the index, has continued to rise despite elevated mortgage rates, reflecting lagged measurement effects and supply-demand imbalances in the rental market. The last time a Fed official used language this emphatic about inflation persistence was in early 2024, when then-Chair Jerome Powell warned that progress had stalled. The S&P 500 fell 1.2% that day while two-year Treasury yields climbed 10 basis points as markets repriced the rate outlook. Schmid's remarks also highlight a shift in how the Fed communicates under Warsh. The new chair has removed forward guidance from post-meeting statements, arguing that previewing future policy commits the central bank to positions that may become inappropriate as conditions evolve. Instead, Warsh has established five task forces to review Fed operations, including communications strategy and the inflation framework. ## Rate Differentials Widen as Hawkish Rhetoric Intensifies The hawkish tone from regional Fed presidents has already begun to reshape market pricing. Bank of America now forecasts three quarter-point rate hikes in September, October and December, while Deutsche Bank expects two additional increases before year-end. The yield curve has flattened as short-term rates rise relative to longer maturities, showing bond market concerns about growth prospects even as the Fed maintains its inflation-fighting posture. For investors, the implications cut across asset classes. Financial stocks stand to benefit from wider net interest margins in a higher-rate environment, while rate-sensitive sectors such as technology, real estate and utilities face renewed headwinds. The U.S. dollar has strengthened against most major currencies as interest rate differentials widen in favor of dollar-denominated assets, providing a tailwind for import prices that could help dampen inflation over time. The next key data point will be the June personal consumption expenditures report, due July 31, which will provide the Fed's preferred inflation reading ahead of the September 17-18 meeting. If core PCE remains above 3%, the case for a September hike will strengthen considerably. This article is for informational purposes only and does not constitute investment advice.