Since the launch of GPT-3, AI has become an increasingly complicated game of geopolitical and commercial 3D chess. Everyone can see the immense potential benefits of the technology. Everyone can also see the risks that come with falling behind. But the participants in this race do not all want the same thing. The labs want better models and a lead in the race to AGI. Governments want security, power and stability. Investors want returns. Hardware and infrastructure providers want more demand and wider adoption of their technology.

• Open Models
• Policy, Governance, And Geopolitics
• Capital, Markets, And Business Models

Continual learning, It’s a defining but poorly understood feature of biological intelligence. In artificial systems, we do not yet know what it would take to reproduce this capability, if it's even possible to replicate in a biologically-similar way, or how essential it is to further AI progress. In the end, it might turn out that there was one clear path to solving continual learning. Maybe that path will lead us to AGI and beyond. And maybe we’re on that path now. It's also possible that there will be many paths to progress.

• Agents
• Frontier Models And Capabilities

This issue covers four linked feature recaps: Satya Nadella on enterprise AI harnesses, Tyler Cowen on initiative as the deployment bottleneck, Demis Hassabis on the AI decision window, and Alex Imas with Philip Trammell on who owns the ups

Models are making it cheaper to generate more attempts: faster kernels, possible protein binders, new data-center demand, and software output from coding agents. The harder question is whether models can prove their own work, or where tests

AI is shifting scarcity from raw capability to the costs around it: inference budgets, chip data movement, reliable evaluation, durable memory, human supervision, capital substitution for labor, and weak-link institutions. This issue maps w

AI is moving from model competition into an allocation stack: compute, wafers, power, deployment capacity, inference speed, trusted workflows, distribution surfaces, and capital markets.