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We dont fully understand human biology. Not proteins, or cells or tissuesand certainly not how they all interact in the dynamic systems that make up our body. I believe AI is the answer to that problem. It offers the promise of a step-change in data analysis and eventually will understand our bodies processes at a fundamental level. It will solve biology. But it cant be done by generalist large language models (LLMs) like ChatGPT. Were going to need domain-specific agentic software that plans, acts, and adapts. The sort of AI that can support us across messy, multimodal workflows inherent to biological research. This is how we unlock the medicines and treatments that society needs to tackle the most urgent diseases on our doorstep. But how much does the pharmaceutical industry agree with this? How do they see agentic AI? We commissioned a report, uncovering what 202 members of the pharmaceutical industry, chosen from various roles across the U.S. and Europe, expect from agentic AI. The data is clear, and sometimes surprising: When it comes to agentic AI, the industry is convinced, but cautious. Success will hinge on fixing data fundamentals, building trust, and meeting people where they work. WHAT IS AGENTIC AI GOOD FOR? Here are the two most important areas we identified where pharma believes agentic AI can add value. First is in handling data. The unsexy stuff: harmonizing, cleaning, and stitching data across different data modalities. If an agent can make siloed patient data analysis-ready in a secure manner, thats the bedrock for further advances. The second is in early target discovery. Agentic AI can autonomously scan literature and datasets to form hypotheses on its own, then test them in robotic lab settings. This will speed up drug pipelines and improve the probability of success of clinical trials. But theres a divide in enthusiasm for agentic AI. Executives love it (79.4% of C-level executives and vice presidents rated it very important or top priority). But on the front lines, scientists and analysts are more reserved. I read this as a demand signal. AI agents must deliver measurable gains for enthusiasm at the top to become adopted at the bench. Its a classic pattern for when a new platform hits enterprise: Vision sells the first pilot, but only reductions in timetoinsight and insight quality improvements scale it. And of course pharmas appetite will depend on the cost of the meal. Perhaps surprisingly, we found a meaningful slice of enterprises allocating eightfigure budgets to agentic AI implementation. But others havent even named a line item yet. I think that will give us a twospeed market: Fast movers with a budget to match will standardize on an agentic backbone; cautious adopters will pilot targeted use cases with clear ROI. Agentic AI providers offering onramps, i.e. start small, scale to enterprise, will win. TRUST NEEDS TO BE EARNED But none of this matters if users cant trust what their AI is telling them. And there is still work to do to convince industry users. Only half of the respondents would trust an AI to give them consistently correct answers. And that drops to 40% for making decisions about a drug pipeline, or even protecting intellectual property. There are different ways to read this. ChatGPT has a reputation for hallucinating responses. Biotech has so far failed to bring a completely novel, AI-discovered target to market. Perhaps the technology is just not mature enough to be trusted with the big decisions? Even if that is true now, the AI industry is like a French cheeseit matures quickly. For example, standard large language models (the basis of agentic systems) fail at complex biological reasoning. But recent research shows they can be dramatically improved through specific reinforcement training. My take is that agentic has a communication issue rather than a technical one. Agentic AI has moved so quickly that the details of what it can and cant do can appear fuzzy. Pharmaceutical executives are masters of decision making based on data analysis. There simply isnt enough well-articulated information out there for them to make a firm decision on agentic AI yet. Even the enthusiastic early adopters may flinch at being asked to trust an unproven, poorly understood, agentic system with their crown jewels. WALK THE WALK, THEN TALK ABOUT IT What our report says to me is that we need to put more work into explaining and demonstrating what agentic AI can do, and what it cant do (yet). We need to show clear proof points, minus the hypebut that must be in the real world, not confined to academic publications. For pharmaceutical companies to truly buy into what we believe, the products need to speak for themselves. Were on the cusp of a great shift in the way the pharmaceutical industry works. Those that can show that agentic technology works will reap the rewards. Thomas Clozel is cofounder and CEO of Owkin.
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E-Commerce
Walmart will be putting millions of sensors on its pallets across its supply chain chain, in a move that technology partner Wiliot is calling “the first large-scale deployment of ambient Internet of Things (IoT)” sensors in the retail industry. The technology is currently deployed in 500 Walmart locations, and the retail giant plans to expand nationwide in 2026. The ambient IoT sensors are battery-free and operate by harvesting energy from sources such as radio waves, light, motion, and heat, according to CNBC. The wide rollout will cover 4,600 Walmart Supercenters, Neighborhood Markets, and over 40 distribution centers, generating high-resolution supply chain data that feeds into Walmart’s AI systems. The retail giant has one of the biggest supply chain networks in the U.S. “We’re not only optimizing our supply chain to make faster, smarter inventory decisions, but we’re also tackling one of the hardest problems in retailknowing exactly what we own and where it is at any given moment,” Greg Cathey, Walmart senior vice president of transformation and innovation, said in a statement. “This enhanced visibility helps us deliver the consistent value, quality, and experience our customers expect.” With this move, the Bentonville, Arkansas-based retail giant is aiming to improve its supply chain efficiency, accuracy about its inventory, and cold chain compliance, with real-time insights on what merchandise is owned and where it is at any moment. Walmart financials Shares of Walmart (WMT) were up over 1% by the close of the market on Wednesday. The retail giant’s fiscal second quarter earnings report for 2026 included $116.9 billion in revenue, an increase of $2.7 billion, or 2.3%, over last year. Consolidated net income was $4.1 billion, up 1.3%, and diluted earnings per share (EPS) was $1.24, a 5.1% increase compared to $1.18 last year.
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E-Commerce
An investor group including BlackRock, Microsoft, and Nvidia is buying one of the world’s biggest data center operators with nearly 80 facilities in a deal worth $40 billion to secure coveted computing capacity for artificial intelligence. The purchase of U.S.-based Aligned Data Centers from Australian Macquarie Asset Management on Wednesday is the first deal for the AI Infrastructure Partnership formed last year which includes Abu Dhabi-based fund MGX and Elon Musk’s startup xAI among its backers. “With this investment in Aligned Data Centers, we further our goal of delivering the infrastructure necessary to power the future of AI,” said BlackRock CEO Larry Fink, who also serves as the chairman of the AI Infrastructure Partnership. Deals to snap up chips and infrastructure The acquisition is the latest in a series of big-ticket deals involving Big Tech and Silicon Valley startups that have been fueled by the boom in AI. Major tech companies including Alphabet, Amazon.com, Meta, Microsoft, and CoreWeave, are on track to spend $400 billion on AI infrastructure this year, Morgan Stanley estimates. OpenAI, the startup at the heart of the AI boom, struck deals in recent weeks with chipmakers Nvidia, Advanced Micro Devices, and Broadcom that may cost over $1 trillion to secure about 26 gigawatts of computing capacity, enough to power roughly 20 million U.S. homes. Meta Platforms is building several multi-gigawatt AI data centers, including one called Prometheus due to come online in 2026 and another, Hyperion, that can scale up to 5 gigawatts. Privately-held Aligned Data Centers currently has over 5 gigawatts of operational and planned capacity located across 50 campuses in the U.S. and Latin America. Joe Tigay, portfolio manager at Nvidia shareholder Equity Armor Investments, said the acquisition highlights the growing value of data center assets for investors. “Theyre looking at rapid expansion to meet AI demand and optimize for it.” Spending surge as interest booms Founded in 2013, Aligned has been a big winner of the AI infrastructure spending boom, raising $12 billion in equity and debt earlier this year in one of the largest private capital injections into a data center company. Its customers include cloud-computing platform Nutanix and IT services provider Datto, according to its website. The company also has a land portfolio with access to significant near-term power capacity in key markets, said Macquarie, which first invested in the company in 2018. Shares of its publicly listed rivals, such as Applied Digital, have soared more than four-fold this year. Applied Digital shares jumped 5% on Wednesday. The investment group buying Aligned, which also includes Kuwait Investment Authority and Singapore state-owned investor Temasek as backers, has an initial target of deploying $30 billion of equity capital, with the potential of reaching $100 billion including debt. It has not disclosed how much each partner has contributed to the group nor the equity value of Wednesday’s deal. Nvidia and Aligned declined to comment, while the investors did not immediately respond to requests seeking more details on the deal. “All the major parties in that consortium, they are showing the strength of the AI ecosystem,” said Hendi Susanto, portfolio manager at Nvidia investor Gabelli Funds. Aligned will remain headquartered in Dallas, Texas, under CEO Andrew Schaap when the deal closes in the first half of 2026, the investor group said in its statement. Arsheeya Bajwa and Aditya Soni, Reuters
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E-Commerce
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