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OpenAI CEO Sam Altman Defends Government Ties, Takes Aim at Anthropic Amid Pentagon Deal

By
Samuel Nwite
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0

OpenAI CEO Sam Altman took a subtle aim at rival Anthropic on Thursday while defending his company’s relationship with the U.S. government, arguing that it would be “bad for society” if powerful technology firms abandoned democratic processes simply because they disagreed with political leadership.

Speaking during the Morgan Stanley Technology, Media & Telecom Conference, Altman said it was important for private companies to recognize the authority of elected institutions.

“The government is supposed to be more powerful than private companies,” he said, cautioning against a scenario where technology firms circumvent public institutions because “some people don’t like the person or people currently in charge.”

The comments come at a delicate moment in the intensifying rivalry between OpenAI and Anthropic — two of the world’s fastest-growing artificial intelligence developers — and as tensions escalate between Anthropic and the U.S. defense establishment.

Anthropic CEO Dario Amodei reportedly criticized Altman’s relationship with President Donald Trump in a memo to staff, saying Anthropic had not offered “dictator-style praise” to Trump, while suggesting OpenAI had been more accommodating.

The dispute widened after disagreements between Anthropic and the U.S. Department of Defense over how its artificial intelligence models could be used by the military. Negotiations deteriorated in recent weeks, culminating in Defense Secretary Pete Hegseth declaring Anthropic a “Supply-Chain Risk to National Security” in a post on X.

Soon after, President Trump ordered all federal agencies to “immediately cease” using Anthropic’s technology, effectively cutting the company off from a potentially lucrative government market that many AI firms view as strategically important. Within hours of that directive, OpenAI announced its own agreement with the Pentagon — a move that sparked criticism across the technology sector and among policymakers who viewed the timing as opportunistic.

Altman acknowledged that perception, saying the announcement “looked opportunistic and sloppy,” but insisted the company’s intention was to prevent the dispute from escalating further.

“It is complicated, we are busy with other things,” Altman said. “But last week, when things started to get into a fight, it became increasingly clear to us that there was a chance things were going to go very badly.”

The development is seen as a pointer to how the AI industry is becoming increasingly entangled with geopolitics and national security policy, as governments view advanced artificial intelligence systems as critical strategic infrastructure.

For OpenAI, the Pentagon partnership appears to represent more than a simple commercial contract. Analysts say it strengthens the company’s standing in Washington at a time when policymakers are shaping rules that could determine the future structure of the AI industry.

Founded in 2015 as a nonprofit research lab, OpenAI has rapidly evolved into one of the most valuable technology companies in the world following the launch of ChatGPT in 2022. The chatbot triggered a global surge of interest in generative AI and propelled the company into the center of the tech industry’s most consequential race.

Last week, OpenAI announced a massive funding round worth $110 billion that valued the company at roughly $730 billion before the new capital was injected — a figure that places it among the most highly valued technology firms globally. The company’s commercial momentum has been equally striking. ChatGPT now supports more than 900 million weekly active users, up from 800 million in October, according to company figures.

Financially, OpenAI’s annual revenue run rate has climbed above $25 billion, according to sources familiar with the company’s finances. Anthropic, which has emerged as one of its closest competitors, is believed to have surpassed $19 billion in annual revenue run rate. Yet the political fallout from the Pentagon dispute has produced sharply different outcomes for the two companies.

OpenAI has faced a backlash among some users and developers who view its deepening military ties as a departure from the company’s original mission as a nonprofit research organization focused on ensuring artificial intelligence benefits humanity. The criticism has translated into a wave of uninstallations of the ChatGPT app in some developer and privacy-focused communities, according to industry tracking platforms.

Anthropic, meanwhile, has seen a surge in downloads of its AI assistant products as some users migrate toward alternatives perceived as more independent from government or military partnerships.

At the same time, OpenAI appears increasingly willing to pursue defense contracts as a strategic lever. Military partnerships can provide both large, stable revenue streams and privileged access to government research funding, while also strengthening relationships with policymakers responsible for regulating advanced AI systems.

U.S. officials view AI as a critical domain in the country’s broader technological rivalry with China, making collaboration with leading domestic developers a national priority. The Pentagon’s interest in generative AI spans a wide range of potential uses, including intelligence analysis, cybersecurity defense, battlefield logistics, and autonomous systems. Securing partnerships with companies capable of building the most advanced models has therefore become a strategic objective for the U.S. government.

The dispute involving Anthropic and the Defense Department underlines a growing tension many AI firms face as they balance commercial opportunities with ethical considerations around military use of their technology. Anthropic has positioned itself as a company emphasizing AI safety and governance, often highlighting the potential risks posed by advanced models. That stance has sometimes translated into caution around certain government applications. OpenAI, by contrast, appears to be charting a more pragmatic path — cooperating closely with state institutions while attempting to frame such engagement as part of a broader democratic framework.

Implications of United Arab Emirates (UAE) Two-day Closure of UAE Capital Market

By
Paul Ugbede Godwin
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0

The United Arab Emirates (UAE) has suspended trading on its major stock exchanges amid escalating tensions from Iran’s retaliatory strikes. Trading resumed on Wednesday, March 4, 2026, but markets opened sharply lower as investors reacted to the geopolitical developments.

The UAE Capital Markets Authority announced that the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) would remain closed on March 2 and March 3, 2026. This two-day halt follows Iran’s missile and drone attacks on targets in the UAE (including airports, ports, and residential areas in Abu Dhabi and Dubai), which came in response to prior U.S. and Israeli strikes on Iran.

The decision was made to maintain market stability, protect investors, and allow authorities to monitor the ongoing regional security situation. These exchanges host some of the Gulf’s most valuable listed companies, with billions in assets temporarily suspended.

This is a rare measure, signaling significant economic disruption in the region. Other Gulf markets, like Qatar’s, saw sharp declines on March 2, while oil prices surged due to fears over supply disruptions; potential issues in the Strait of Hormuz.

Broader impacts include flight cancellations, travel chaos, and disruptions to services like Amazon Web Services in the UAE. The situation remains fluid, with authorities stating they will assess developments and take further steps if needed. Trading is expected to resume after March 3, barring additional escalations.

Saudi Arabia’s stock market (Tadawul) has not been suspended or closed amid the ongoing Iran conflict and strikes on the UAE, unlike the UAE’s exchanges (ADX and DFM), which remain shut through March 3, 2026. The Tadawul All Share Index (TASI) opened sharply lower, dropping as much as 4.6-4.8% intraday amid regional panic.

It pared losses significantly, closing down about 2.2%. This marked one of the largest single-day declines in recent months, reversing year-to-date gains at the time. Saudi Aramco; a major weight in the index rose ~3.4%, buoyed by surging oil prices, which helped limit the overall drop.

On Monday, trading continued normally on the Tadawul. The index showed resilience in a volatile session, finishing roughly flat; some reports note a marginal gain of ~0.13% or stability around 10,488-10,500 levels. Energy stocks, particularly Aramco, supported performance amid higher oil prices, while other sectors faced pressure.

The market’s relative stability reflects Saudi Arabia’s exposure to oil price upside; despite some reported minor drone incidents near facilities like Ras Tanura, which caused temporary shutdowns but limited damage. Oil prices have surged; up to 9-13% at peaks due to fears of Strait of Hormuz disruptions, benefiting Saudi energy stocks but pressuring others.

The DFM General Index (.DFMGI) fell approximately 4.7% — its largest single-day drop since May 2022 — in broad-based selling. Key decliners included blue-chip names like Emaar Properties (down ~4.9%), Emirates NBD, Air Arabia (down ~5%), and others in real estate, banking, and airlines.

The Abu Dhabi index also declined, closing down around 1.9–2% with early-session drops as high as 3.6%. On March 5, 2026, UAE equities extended losses amid ongoing regional conflict concerns. The DFM index traded down further around 2.2% in early/late reports, with similar pressure on major stocks like Emirates NBD, Emaar Properties, and others.

Temporary measures, such as a 5% lower price limit on securities, were implemented upon reopening to manage. The closure avoided panic selling during the height of the attacks, but reopening triggered sharp sell-offs as pent-up concerns hit. This reflects investor fears over prolonged instability, potential further disruptions, higher energy costs, and risks to UAE’s economy.

Escalating conflict has driven up global oil/gas prices, contributing to wider market declines in Europe and the US. UAE sectors like airlines and real estate face direct hits from reduced confidence and activity. This differs from standard holidays. No routine holiday applied in early March 2026.

The situation remains highly fluid—further escalations could increase volatility, but so far, Tadawul has avoided the full shutdown seen elsewhere in the Gulf. Trading is expected to continue barring major new developments.

IRS Proposes Rule to Allow Cryptocurrency Exchanges Send Tax Forms Electronically 

By
Paul Ugbede Godwin
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2

The IRS has proposed a rule that would allow cryptocurrency exchanges and other digital asset brokers to send tax forms electronically only, without needing to provide paper copies.

The proposal specifically targets Form 1099-DA; Digital Asset Proceeds from Broker Transactions, the new form brokers use to report gross proceeds and eventually cost basis from digital asset sales or exchanges to both customers and the IRS.

Under current rules, brokers must generally offer paper delivery unless the customer consents to electronic statements. The proposed regulations provide an optional alternative process for digital asset brokers. They could obtain customer consent for electronic-only delivery without offering a paper option, and without allowing easy withdrawal of that consent.

Brokers would need to meet enhanced requirements, such as notifying customers when statements are available electronically and ensuring ongoing access to them via online dashboards or email. This aligns with the electronic nature of crypto transactions and aims to reduce burdens on brokers while modernizing compliance.

The change is part of the broader rollout of broker reporting for digital assets, mandated by the Infrastructure Investment and Jobs Act, with gross proceeds reporting starting for transactions on or after January 1, 2025. Form 1099-DA applies to custodial brokers platforms like Coinbase or Kraken that hold user assets.

For 2025 transactions, brokers report gross proceeds basis reporting phases in later, for certain transactions from 2026. Statements are due to customers by mid-February or March 2026 with some transitional relief, and e-filed to the IRS shortly after. The proposal is not yet finalized—it’s open for comments—but if adopted, it could apply starting with statements required after January 1, 2027, or earlier in some cases.

Form 1099-DA, titled Digital Asset Proceeds From Broker Transactions, is a new IRS information return introduced to standardize and enhance tax reporting for digital asset (crypto) transactions. It stems from changes made by the Infrastructure Investment and Jobs Act (2021), which expanded the definition of “broker” under IRC §6045 to include many custodial cryptocurrency platforms.

Brokers use this form to report certain dispositions; sales, exchanges, or other transfers of ownership of digital assets to both the taxpayer and the IRS. This helps ensure better compliance, as taxpayers must report all digital asset income, gains, and losses on their tax returns regardless of receiving a form.

Primarily U.S. persons or entities including custodial platforms like exchanges, hosted wallet providers, certain kiosks, and payment processors that effect sales of digital assets on behalf of customers in the ordinary course of business. Non-U.S. brokers generally are not required to report unless specific conditions apply.

Reporting applies to “sale” transactions including crypto-to-crypto trades, sales for fiat, redemptions, etc., but not all transfers; simple wallet-to-wallet moves without a broker effecting a sale. Brokers report dispositions where they effect the sale and exchange for the customer, such as: Selling crypto for fiat currency.

Trading one digital asset for another (crypto-to-crypto). Using crypto to purchase goods/services (in some cases). Other dispositions that result in proceeds. Digital assets include cryptocurrencies (e.g., Bitcoin, Ethereum), stablecoins, non-fungible tokens (NFTs), and similar assets.

For transactions on or after January 1, 2026 reported in 2027+: Brokers must report gross proceeds for all digital assets, plus cost basis and adjustments for covered securities generally those acquired on/after Jan 1, 2026, where the broker has the necessary acquisition info to track basis.

Basis reporting for noncovered securities; assets bought earlier or transferred in without basis data remains voluntary. Covered vs. noncovered distinction mirrors traditional securities rules but adapted for digital assets. Special rules apply for de minimis transactions, optional aggregated reporting for certain NFTs and stablecoins, and exemptions in some cases.

The form supports electronic delivery, with recent proposed rules allowing brokers to make electronic-only delivery easier; no mandatory paper option if consent obtained under enhanced rules. Form 1099-DA is excluded from the Combined Federal/State Filing program for 2025.

Tax rules for digital assets can be complex; hard forks, airdrops, staking may have separate treatment. This move streamlines processes for the crypto industry but may concern users who prefer paper statements or worry about digital access and security.

Taxpayers must still report all digital asset transactions on their returns, even without receiving a form. If you’re affected, consult a tax professional.

Amazon Launches Agentic AI Platform to Transform Healthcare Administration

By
Ojukwu Emmanuel
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0

Amazon has introduced a new agentic artificial intelligence platform designed to help doctors, healthcare providers, and patients handle routine administrative tasks more efficiently.

The company’s cloud division, Amazon Web Services (AWS), unveiled Amazon Connect Health, a purpose-built AI solution aimed at reducing the heavy administrative workload that often prevents clinicians from focusing fully on patient care.

The new platform is designed to automate high-volume healthcare tasks such as appointment scheduling, patient verification, insurance checks, clinical documentation, and medical coding. By handling these time-consuming processes, the system allows healthcare professionals to spend more time interacting with patients and delivering care.

According to AWS Chief Medical Officer, Rowland Illing, healthcare systems around the world are overwhelmed by paperwork and operational complexity. He noted that healthcare is “absolutely drowning in administrative complexity,” highlighting the urgent need for digital solutions that simplify clinical workflows.

Announcing the launch of the Agentic AI Solution, Amazon wrote,

“Today, we’re announcing Amazon Connect Health, a purpose-built agentic AI solution that handles high-volume administrative tasks such as appointment scheduling, clinical documentation, and medical coding, keeping providers informed and in control while delivering proven results across the care continuum.”

The company emphasized that modern healthcare still depends heavily on human connection, yet repetitive administrative tasks often divert clinicians away from patient care. Healthcare provider organizations process millions of patient calls every year, with staff reportedly spending up to 80% of call time gathering data across different systems for routine activities like scheduling appointments.

At the same time, clinicians and healthcare administrators face an ongoing burden of documentation and paperwork. These challenges can affect patient experiences as well. Studies cited by Amazon show that 89% of patients report “ease of navigation” challenges as their primary reason for switching healthcare providers.

Amazon Connect Health builds on the existing capabilities of Amazon Connect, AWS’s AI-powered platform used globally to deliver personalized customer experiences at scale. The technology already supports tens of thousands of businesses and manages more than 16 million interactions daily. AWS is now adapting that infrastructure specifically for healthcare providers to improve patient engagement and care delivery.

For healthcare organizations, the platform introduces several agentic AI capabilities that integrate directly with existing systems. One of the key features is patient verification, which allows conversational identity verification with real-time integration into electronic health record (EHR) systems, eliminating the need for manual record searches.

Another major feature is appointment management, currently available in preview. This capability enables natural language voice scheduling that allows patients to book, reschedule, or cancel appointments at any time without waiting on hold. The system also supports real-time insurance verification and seamless integration with EHR platforms.

These features provide several benefits for healthcare providers. They enable 24/7 patient access with minimal wait times, reduce administrative workloads for hospital staff, and streamline scheduling and verification processes so clinicians can devote more time to treatment and patient engagement.

Beyond healthcare providers, the new platform is also designed for technology developers and digital health companies. Builders working with EHR platforms, healthcare software vendors, and technology-enabled care providers can integrate Amazon Connect Health capabilities into their applications using a unified software development kit (SDK).

A major challenge in healthcare AI adoption is fragmented data, as patient information is often stored across multiple systems and formats. To address this, Amazon Connect Health integrates with AWS HealthLake, a large-scale healthcare data platform capable of transforming disparate records into actionable insights.

Through this integration, healthcare organizations can connect AI tools directly to unified data sources. Amazon is also collaborating with healthcare integration partners such as Redox, which already connects with more than 100 EHR systems and over 35 health information exchanges (HIEs). These partnerships are designed to simplify data integration and help healthcare providers access comprehensive patient information across multiple platforms.

The launch of Amazon Connect Health reflects a broader shift toward AI-driven healthcare systems. Across the industry, artificial intelligence is increasingly being used to automate documentation, analyze medical data, assist with diagnosis, and improve patient engagement. By reducing administrative burdens and unlocking insights from complex datasets, AI technologies are helping healthcare professionals make faster, more informed decisions while improving the overall patient experience.

Bitcoin Rally Above $74,000 Fades as Geopolitical Tensions And Profit-Taking Weigh on Crypto Market

By
Ojukwu Emmanuel
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0

Bitcoin’s brief rally above the $74,000 mark lost momentum on Thursday as renewed geopolitical concerns and profit-taking dampened investor enthusiasm across the cryptocurrency market.

The world’s largest cryptocurrency had surged earlier in the week, reaching a high of $74,500 and breaking through a key resistance level at $71,000, a level that previously acted as a major swing high on February 8 and 15. However, the gains proved short-lived as market sentiment shifted.

By Thursday, Bitcoin had retreated to around $70,000, erasing a portion of its recent gains. Ethereum also followed a similar trajectory, declining to about $2,085. Other major cryptocurrencies, including XRP, Dogecoin, Hyperliquid, and Zcash, fell by more than 2.5% over the past 24 hours as the broader crypto market cooled.

The earlier rally in the cryptocurrency market was largely fueled by reports suggesting that Iran had reached out to the United States to initiate talks aimed at ending the ongoing conflict. The prospect of diplomatic negotiations briefly boosted global risk appetite, encouraging investors to reenter risk assets such as cryptocurrencies.

However, the optimism quickly faded after Iranian officials denied the reports, significantly lowering expectations of a ceasefire. Data from prediction platform Polymarket shows that the odds of a ceasefire occurring in March or April have declined sharply over the past two days.

Further adding to market uncertainty, a report from Politico indicated that the administration of U.S. President Donald Trump is considering a prolonged conflict that could extend until September. Other reports suggest that U.S. intelligence agencies, including the Central Intelligence Agency, are evaluating strategies that could involve supporting Kurdish forces to destabilize Iran, raising fears of a broader regional escalation.

Market analysts say these developments have contributed to renewed caution among investors. According to Joel Kruger of LMAX Group, Bitcoin’s decline reflects a combination of profit-taking after the recent rebound and broader investor caution amid geopolitical tensions in the Middle East.

Similarly, Nick Ruck of LVRG Research told Cointelegraph that the recent rally in cryptocurrencies was driven by renewed risk appetite and inflows into exchange-traded funds (ETFs). However, he noted that the upward momentum quickly encountered resistance as macroeconomic uncertainties resurfaced.

Ruck added that while the rally provided a temporary boost under favorable liquidity conditions, broader bear-market dynamics continue to keep investors cautious. Softer macroeconomic signals, including expectations of a slowdown in U.S. February nonfarm payrolls, could leave digital assets vulnerable to renewed downside pressure.

Analysts also describe Bitcoin’s recent pullback as a “natural pause” following its breakout above $70,000. The move was partly driven by investors closing earlier bearish positions and momentum-driven buying during the rally.

Despite the short-term decline, several fundamental indicators remain supportive for Bitcoin. Institutional demand continues to grow, with corporate treasuries steadily accumulating the cryptocurrency. Notably, Strategy holds more than 568,000 BTC, while a growing number of public companies are also adding Bitcoin to their balance sheets.

On-chain data also indicates that long-term holders are increasingly reluctant to sell. Metrics show that coins held for more than one year now account for a growing share of Bitcoin’s circulating supply, a trend often viewed as a sign of strong investor conviction.

Technical Outlook

From a technical perspective, Bitcoin’s ability to hold above the $70,000 level remains crucial for maintaining bullish momentum.

If the cryptocurrency fails to reclaim and sustain a move above the $72,000 resistance zone, analysts warn that another decline could follow. Immediate support is located near $70,000, which also aligns with the 50% Fibonacci retracement level of the upward move from the $66,164 swing low to the $74,062 high.

The next key support level lies around $69,000, followed by stronger support near the $68,500 region. Should selling pressure intensify, Bitcoin could fall toward the $68,000 level in the near term.

Outlook

Analysts note that as long as institutional demand remains steady and Bitcoin continues to trade above critical support levels, the broader long-term outlook for the cryptocurrency remains cautiously optimistic despite near-term volatility.

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