Latest Sectors News

Entergy CEO Drew Marsh said data centers can be a win for local communities rather than a burden on residents. View More

watch nowVIDEO1:0801:08Entergy CEO: We produce steady predictable returns, but they have been a lot higher than in the pastMad Money with Jim Cramer Entergy CEO Drew Marsh said the rapid buildout of data centers doesn't have to be a burden for residential communities."Data centers really want to be good neighbors," Marsh said on CNBC's "Mad Money" on Tuesday. "They have reputations that they want to protect, and they want to be part of the community."The surge in AI-related power demand has sparked concerns among policymakers and homeowners that residential customers could end up footing the bill for data centers. Marsh said Entergy's approach is designed to avoid that outcome by requiring data center operators to cover the costs of serving their facilities while also contributing to expenses that would otherwise be shared across the utility's customer base. The electric utility company — which serves customers across Louisiana, Arkansas, Mississippi and Texas — has adopted what it calls a "Fair Share Plus" framework for large data center customers. "The Fair Share part says that they are going to pay all of the incremental infrastructure costs during the life of their contract as needed to support them," Marsh said. Marsh added that the framework goes beyond requiring data centers operators to simply pay for the infrastructure they use. "The plus part is that they are also covering some of the fixed costs," Marsh said. "That means overhead costs and storm costs that our existing customers would have already been paying." At Entergy's investor day Tuesday, Marsh said those provisions are expected to generate roughly $7 billion in savings for existing customers over the 15 to 20-year life of the contracts. watch nowVIDEO7:2307:23Entergy CEO Drew Marsh goes one-on-one with Jim CramerMad Money with Jim Cramer Jim Cramer's Guide to InvestingClick here to read Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The U.S. House on Tuesday approved a $70 billion immigration enforcement funding package after months of debate. View More

Democratic Caucus Chairman Rep. Pete Aguilar, D-Calif., speaks during a news conference with House Democratic leadership at the U.S. Capitol in Washington, Jan. 10, 2023.Sarah Silbiger | Reuters The U.S. House on Tuesday on a 214-212 vote approved a $70 billion funding package despite Democrats' vows to oppose it. The vote was a test for House Speaker Mike Johnson as he tries to cement one of President Donald Trump's top domestic priorities.Its passage ends a monthslong stalemate over immigration enforcement that has shut down parts of the Department of Homeland Security.Rep. Pete Aguilar, D-Calif., chair of the House Democratic Caucus, called the package a "$70 billion blank check for ICE and border patrol, with no strings attached." "This comes after Republicans already cut healthcare, food assistance, and they've a already give ICE $140 billion in their Big Ugly Bill," Aguilar said at a press conference on Tuesday, referring to Republicans' 2025 tax and spending package more commonly known as the One Big Beautiful Bill. "On top of that, this doesn't do a single thing to help Americans with their daily costs of living."All Democrats opposed the measure. Read more CNBC politics coverageTrump family got about $500M from crypto venture — but investors saw steep lossesTrump repeats claims that Iran deal is only 'days' away, despite recent strikesUSDA Secretary Rollins calls Texas ag chief 'unserious' amid screwworm threatTrump nominates Todd Blanche for attorney general amid controversy over DOJ fund The package, which has broad support among Republican congressional leadership, funds Immigration and Customs Enforcement and Customs and Border Protection, both of which are Department of Homeland Security subagencies that were left out of an earlier spending bill amid Democratic opposition. The $70 billion extends through the end of Trump's presidency. And it brings to an end a drawn-out debate over immigration enforcement policy that began in January – after federal law enforcement agents killed two U.S. citizens in Minneapolis as part of an immigration crackdown — and led to a government shutdown."What we've done now by funding every three years is we've taken away their ability to cut that funding, to block that funding, or to take hostage that funding for the remainder of the Trump administration," Johnson said in a press conference after the vote.Trump had called for the bill to reach his desk by June 1. The package advanced out of the Senate last Friday, on a 52-47 vote with no Democratic support.Earlier Tuesday, the House version's fate was far from certain, even though it only needed a simple-majority vote to be approved. Johnson has struggled to get the Republican Party aligned as lawmakers on the right have said the measure doesn't go far enough and some centrists with tough elections ahead in November express concerns about immigration enforcement practices.Republican Rep. Chip Roy, a Texas hardliner, told House leadership that he was undecided, according to Politico. And Rep. Kevin Kiley, who switched his party affiliation from Republican to independent in March but still caucuses with the GOP, has said he opposes the package without changes to immigration enforcement.Roy voted for the measure, while Kiley opposed it."I thought we had a golden opportunity to come together as a Congress to implement those reforms and to rebuild trust and to focus immigration enforcement where most people think it should be, on those who posed the risk to public safety," Kiley said outside the House chamber on Tuesday. "Instead, we're doing exactly the opposite."Republicans have a narrow majority in the House and could afford to lose a handful of votes if Democrats are united in opposition.Passage of the immigration funding package is an important hurdle for Johnson to clear, as he struggles to get other Trump priorities over the finish line with a dwindling number of days Congress will be in session before the 2026 midterm elections. US House Speaker Mike Johnson, a Republican from Louisiana, speaks to members of the media while departing the House Chamber during a vote at the US Capitol in Washington, DC, US, on Tuesday, June 9, 2026. Elizabeth Frantz | Bloomberg | Getty Images Johnson huddled with Trump on Tuesday about ICE and CBP funding, as well as an attempt to extend a section of the Foreign Intelligence Surveillance Act of 1978 that allows the government to collect the communications of people outside the U.S., including when they are interacting with Americans.Section 702 of the act is due to expire June 12 unless Congress extends it. Privacy hawks on both sides of the aisle have called to amend the policy to protect U.S. citizens from government overreach, meaning Johnson will need to rely on some Democratic support to get any extension over the finish line. FISA Section 702 has traditionally had both supporters and foes in each political party.Democrats, meanwhile, are threatening to withhold support after Trump named Federal Housing Finance Agency Director Bill Pulte as director of national intelligence. Pulte has no known prior intelligence experience and has shown a willingness to use his position to go after Trump's foes."The negotiations prior to Trump's announcement with respect to Bill Pulte were already in a very sensitive place," House Minority Leader Hakeem Jeffries, D-N.Y., said at a press conference on Monday. "And then Donald Trump, as he often does, tosses a hand grenade into those sensitive negotiations by elevating Bill Pulte as the director of national intelligence."Asked if he'd let FISA expire, Jeffries said conversations were ongoing "but clearly to get to good faith negotiations, the effort to elevate Bill Pulte as the acting director of national intelligence should be reversed immediately. And then let's see where we wind up at the end of the week." Some Republicans have also called on Trump to drop Pulte as acting director of national intelligence."FISA gives us over 50% of our most sensitive intelligence and has enabled the U.S. to stop multiple terrorist attacks," Rep. Don Bacon, R-Neb., a moderate who is retiring at the end of this Congress, posted to X on Monday. "Letting FISA lapse would reflect a nation paralyzed by hyper-partisanship and dysfunction. POTUS can help by canceling plans to put Bill Pulte as Acting DNI."—Garrett Downs contributed to this story. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Super Micro is the latest company tied to the AI boom to announce that it's tapping the capital markets. View More

In this articleSMCIFollow your favorite stocksCREATE FREE ACCOUNT Super Micro Computer CEO Charles Liang speaks at the Raise summit in Paris on July 8, 2025. Nathan Laine | Bloomberg | Getty Images Super Micro Computer shares sank 9% in extended trading on Tuesday after the computer server maker announced $7 billion in equity-related financing deals to help to cover the cost of hardware component purchases.The company said it's planning $5 billion in underwritten stock offerings and a $2 billion at-the-market offering, starting in July, through arrangements with JPMorgan Chase, Goldman Sachs and Citigroup. Companies often see their share price drop after announcing stock sales, as investors prepare to see their existing holdings diluted in value. Super Micro is the latest company tied to the artificial intelligence boom that's turning to the financial markets for more capital. Earlier this month Alphabet, which offers AI models and cloud infrastructure for model builders such as Anthropic, said it would sell $85 billion in stock, including a $10 billion investment from Berkshire Hathaway.Super Micro said in Tuesday's statement that it's received $39 billion in AI server orders from more than 20 customers during the past few weeks. Demand for AI-ready servers has been climbing sharply, lifting Super Micro's revenue in the March quarter over 100% from a year earlier. Dell said revenue from its Infrastructure Solutions Group grew 181% year over year.Before the after-house drop, Super Micro shares were up about 39% so far this year. In March, the company said a co-founder resigned from its board after he was named in a federal indictment over allegations of smuggling equipment containing Nvidia AI chips into China.Super Micro CEO Charles Liang told analysts on the company's earnings call in May that the cost of memory has more than tripled in recent months.WATCH: Dell valuation is stretched at these levels, says Truist's Matthew Niknam watch nowVIDEO4:5604:56Dell valuation is stretched at these levels, says Truist's Matthew NiknamClosing Bell: Overtime Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The latest clash with Iran over the Strait of Hormuz came as President Donald Trump repeated that a deal with Tehran could be reached within days. View More

An F-35C Lightning II, attached to Marine Fighter Attack Squadron (VMFA) 314, prepares to make an arrested landing on the flight deck of Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72), May 25, 2026.US CENTCOM U.S. forces on Tuesday evening launched strikes against Iran "in response to yesterday's downing of a U.S. Army Apache helicopter," U.S. Central Command said.The "self-defense strikes" are "a proportional response to unjustified Iranian aggression," Centcom said in an X post.The latest clash undermines the U.S. ceasefire with Iran — which remains nominally active despite numerous outbreaks of fighting — and could put even a temporary peace deal even farther out of reach.The strikes were ordered by President Donald Trump, who said earlier Tuesday that Iran shot down an American helicopter that was patrolling the Strait of Hormuz, and that the U.S. would retaliate.The two pilots involved in the attack "are safe and uninjured," Trump wrote in a Truth Social post. "Nevertheless, the United States must, of necessity, respond to this attack."Iranian state media later Tuesday evening reported the sounds of explosions in multiple locations in the area surrounding the strait.Iran will respond to the U.S. military actions, the country's Tasnim News Agency reported. watch nowVIDEO1:4501:45President Trump: U.S. must respond to Iranian attack on Apache helicopter over Strait of HormuzHalftime Report Iran has not directly claimed responsibility for shooting down the helicopter, and Iranian state broadcaster IRIB reported that no offensive military operations had been carried out in the strait in the last 24 hours."Foreign forces in proximity to our territory are at constant risk on account of their own human errors, plain accidents, or potentially being caught in crossfire," Iranian Foreign Minister Abbas Araghchi said in a statement on X on Tuesday afternoon, prior to the U.S strikes."To reduce risk, best solution is for them to leave," Araghchi said, adding, "We prefer language of diplomacy but speak other languages too."Less than a day earlier, Trump claimed that a deal with Tehran could be reached as soon as this week.The two sides are in the final stages of a "very, very good deal" that will stop Iran from getting nuclear weapons and fully reopen the Hormuz Strait "immediately upon signing," Trump said late Monday night after leaving an NBA Finals game in New York City.Such a deal could be signed "in two or three days," Trump added. But he has repeatedly claimed throughout the war, which crossed the 100-day mark on Sunday, that the U.S. and Iran were on the cusp of signing a deal. No deal has emerged.Trump's late-night comments came hours after the helicopter incident, according to Centcom, which said that the American AH-64 Apache had gone down "near the coast of Oman" on Monday evening at 7:33 p.m. ET.In a statement Tuesday morning, Centcom did not initially blame Iran for the downing, saying the incident is under investigation.The two soldiers involved in the crash were rescued within about two hours by U.S. Naval Forces Central Command and the 82nd Airborne Division, Centcom said.Iran's official broadcaster Press TV responded to Trump's Truth post by mocking his frequent claim that the Iranian military has been destroyed by the U.S."So much for the Iranian military having been 'obliterated'!" Press TV posted on Telegram.Mohammad Bagher Ghalibaf, Iran's parliamentary speaker, in an X post issued a cryptic threat similar to Araghchi's statement."We prefer the language of diplomacy, but we speak other languages far more fluently," Ghalibaf wrote. "Break your commitments, and we'll switch to what we speak best. You ride the horse you saddled!"Defense Secretary Pete Hegseth on Wednesday is scheduled to travel to Guantanamo Bay, Cuba and Tampa, Florida, "to engage with troops at GTMO and CENTCOM," the Pentagon said.— CNBC's Emma Graham and Megan Cassella contributed to this report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

PIF is set to stop funding the golf league after the 2026 season, though LIV's Scott O'Neil could not guarantee that the final four tournaments will take place. View More

watch nowVIDEO2:5402:54LIV Golf CEO Scott O'Neil on the league's funding and futureHalftime Report LIV Golf CEO Scott O'Neil told CNBC Tuesday that as a funding cliff approaches, the organization has to trust Saudi Arabia's Public Investment Fund will back the golf venture through the rest of the season as it has promised. "I can say they've been terrific partners so far, and you have to take an incredible organization like PIF at their word," O'Neil said. "They've been very public about funding us through the season, so we are full steam ahead." PIF is set to pull its funding from the golf league at the end of 2026 schedule, CNBC reported in late April. PIF Chairman Yasir Al-Rumayyan also stepped down from his position as LIV Golf chairman.The organization began an investor roadshow last month, seeking to raise up to $350 million from stakeholders to continue its operations.But recent media reports suggested PIF could pull its money earlier than planned, raising doubts about whether the league could even finish out its season. When asked about those reports, O'Neil said the players, management and advisors are "locked in."Asked if he can guarantee that the four remaining tournaments on this year's schedule will take place, O'Neil said that what he "can guarantee is a heck of a return if you come invest in this business."He added that the organization now needs to be "disciplined and very, very value-creative" in order to be sustainable. "I think we have a very, very special opportunity to create tremendous value," O'Neil said.So far, O'Neil said, he's had five formal meetings to discuss interest in funding the organization, with 18 more planned for this week. He said the response has "been positive" and that he hopes to end the fundraising process this summer. "While we have incredible business momentum, what we don't have is a lot of time, so we're very urgently out there talking to those who are interested," he said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Home sales rebounded in May as mortgage rates dropped back a bit in April, but prices are still rising. View More

watch nowVIDEO1:1401:14Home sales surged in May to the highest level since DecemberSquawk on the Street Sales of previously owned homes rebounded more than expected in May, after mortgage rates pulled back slightly in April. Existing home sales in May rose 3.2% from April to a seasonally adjusted, annualized rate of 4.17 million units, according to the National Association of Realtors. Economists were expecting less than a 1% gain. Sales were also up 3.2% from a year earlier, the strongest pace since December.This count is based on closings, so the contracts were likely signed in April, when mortgage rates came down a bit from the sharp jump at the start of March, due to the war with Iran. "Improving affordability is helping drive this momentum," said Lawrence Yun, chief economist for the Realtors, in a release. "Even with mortgage rates ticking up compared to earlier in the year, they remain lower than a year ago and are essentially at the long-term historical average. Income gains are also outpacing home price growth by a small margin in most parts of the country."Inventory in May rose 3.3%, month to month, to 1.55 million units for sale and was up a little less than 1% from a year ago. At the current sales pace, that is a 4.5 months' supply. Six months is considered balanced between buyer and seller.  With a still tight supply, prices continue to rise. The median price of an existing home sold in May was $429,300, an increase of 1.3% from the year before and a record high price for the month. Get Property Play directly to your inboxCNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox.Subscribe here to get access today. "Only 1% of all home sales involved a foreclosure or an underwater situation in which the sale price could not cover the outstanding mortgage balance. This shows that homeowners are on solid financial footing," Yun added. Sales continue to be strongest on the higher end of the market, where there is more supply and buyers are less sensitive to mortgage rates. Sales of homes priced above $1 million were 11% higher than the year before, while sales of homes priced between $100,000 and $250,000 were down 5%. First-time buyers returned to the market, making up 35% of sales, an increase from 33% in April and just 30% the year before. Homes stayed on the market an average of 29 days, down from 32 in April but up from 27 in May 2025. About a quarter of all sales were made in cash, down slightly from a year ago. Correction: Homes stayed on the market an average of 29 days, down from 32 in April. An earlier version misstated the month. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

LPMS will eliminate 90% of paperwork and help secure the borders, Union Minister of Home and Minister of Cooperation Amit Shah said on Tuesday View More

Whoop was born from founder and CEO Will Ahmed's obsession with tracking his own fitness and recovery as a college athlete. View More

For Will Ahmed, the road to building a $10.1 billion fitness startup began with what he calls "the ultimate betrayal." The perpetrator? His own body.Launched in 2012, the Boston-based fitness wearables company now has more than 2.7 million users across the globe. Those customers use Whoop's screen-free wrist devices to track a wide range of biometric data around the clock, from sleep quality to how their bodies perform during exercise and recovery. The company achieved its 11-figure valuation in March, with a $575 million fundraising round from a group of investors including athletes like LeBron James, Cristiano Ronaldo and Rory McIlroy."My whole life, I loved sports and exercise," says Ahmed, 36, Whoop's founder and CEO. He played several sports growing up and eventually captained Harvard University's prestigious squash squad. He also obsessed over fitness to the point of chronic fatigue from "over-training," he says: "I would go through periods of getting fitter and fitter, and then somewhat suddenly feeling completely run down ... and not knowing why."While studying government and economics at Harvard, Ahmed pored over hundreds of medical research papers for insight, he says. He found that fatigue from over-training can affect anyone who exercises frequently, not just high-level athletes. And he became convinced of an underserved market for active, health-conscious consumers who wanted a better understanding of "what's going on, physiologically, inside this person's body," he says.DON'T MISS: The communication skill that can help you accelerate your career growthBefore graduating in 2012, he published his own research paper on the subject, "The Feedback Tool: Measuring Intensity, Recovery, and Sleep," and started working on Whoop. Working in the Harvard Innovation Labs with co-founders and fellow students John Capodilupo and Aurelian Nicolae, Ahmed wrote his first business plan and developed early prototypes with physiological sensors.The ensuing years didn't exactly go smoothly. Investors repeatedly expressed skepticism about the business, and Whoop nearly went bankrupt roughly six years in, says Ahmed."I had never started a company. I never had a full-time job," Ahmed says. "I was building a business at the intersection of hardware and software and data science and medicine, [but] I wasn't a hardware engineer or computer scientist, or a data scientist or doctor. So, I think there was a lot of skepticism." 'A very challenging' startup launch Ahmed funded Whoop's early days through an undisclosed amount of money from friends and family, he says. He spent most of 2012 trying — unsuccessfully — to woo larger investors, receiving 143 rejections in total during the company's early years, he estimates.Nike had just launched its FuelBand activity and calorie tracking wearable device in January 2012. The long-rumored Apple Watch followed two years later. "[Having] two of the best and biggest companies in the world, with Nike and Apple, as competitors is never good," says Ahmed.Investors suggested switching to building software for other companies' wearables, but Ahmed was convinced that the surest route to long-term success was to build "the whole end-to-end system," including both the hardware and the software that'd power it, he says."It was a very challenging time ... every day I'd just try to pick myself up and put one foot in front of the other and keep building," says Ahmed. Source: Whoop For him, Whoop's differentiating feature would be a wide range of biometric data — including, eventually, blood pressure and ECG monitoring of your heart's electrical activity — that was, at the time, mostly available through large, invasive equipment at medical centers. To gather that data, he had to build wearables that could successfully collect it. Eventually, that pitch helped Ahmed land $3 million in seed funding in July 2013 from a group of venture capital investors led by Collaborative Fund.With funding in hand, Whoop could finally go about turning Ahmed's ambitious obsession into a tangible product. Whoop's co-founders spearheaded the computer science and mechanical engineering elements, with Nicolae becoming chief hardware engineer.The company started by developing each individual technological component — like LED sensors that used light to measure heart activity and blood flow non-invasively, for example — and then worked to fit them together into a wristband. Its first product hit the market in September 2015. From near-bankruptcy to 'a real business' Whoop initially courted a demographic of top athletes, hoping high-profile endorsements would give the brand instant cache. Ahmed got to them through their personal trainers and performance coaches, he told the "How I Built This" podcast in a July 2025 episode. By September 2015, Whoop users included NBA superstar LeBron James and swimming legend Michael Phelps.But famous customers didn't translate into reliable sales, says Ahmed. By 2017, Whoop still wasn't profitable, and at one point that year, the company was "a week away from declaring bankruptcy," he says, adding: "The technology was very powerful, but we hadn't yet figured out how to make a real business out of it."Professional athletes might pay $500 for a fitness band, but a wider demographic wouldn't, and Whoop needed a higher volume of sales revenue to cover its research and development costs, says Ahmed. In 2018, Whoop changed its business model to an annual membership package that starts at $199 per year. Members get their fitness band and access to Whoop's app, which includes a suite of health and fitness tracking tools, plus free software and hardware updates when they roll out.Whoop's subscriber base grew, first steadily and then more sharply during the Covid-19 pandemic when consumers' interest in tracking their personal health surged, the company told CNBC in October 2020. The company finished 2025 cash-flow positive after new memberships doubled on the year, Whoop announced on March 31. Whoop founder and CEO Will Ahmed chats with NFL quarterback Patrick Mahomes.Source: Whoop But the fitness wearables market is no less competitive now than it was in 2012, and it's still dominated by products like the Apple Watch — which sold an estimated 281 million devices over its first decade, Wired reported in April 2025. There's also Fitbit, which Google acquired for $2.1 billion in 2019, and rival health tracking startups like Oura, which was most recently valued at $11 billion in October.Ahmed plans to further grow Whoop's subscriber base by adding more customers overseas — its members currently live across 200 countries — and investing further in technological development, including artificial intelligence, he says. Launching Whoop right out of college as "one of the scariest decisions I made in my life, because I didn't know what I had just signed up for," he says.Other entrepreneurs should follow suit and trust their guts, he adds. "It was a huge leap of faith," says Ahmed. "The lesson I've taken [is] sometimes you do have to take a huge leap ... if that's what your inner voice is telling you is right for you. For me, at least, that inner voice that I had as a 22-year-old was screaming: 'You got to build this company.'"Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC's new online course, How To Talk To People At Work, expert instructors share practical strategies to help you use everyday conversations to gain visibility, build meaningful relationships and accelerate your career growth. Sign up today! Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.Gas prices are high right now. Use these 6 tools to save on fuel Can you have too much money in your checking account?Which credit card strategy earns more: Bonus categories or flat-rate rewards?How to enjoy airport lounges without paying hundreds in credit card annual fees VIDEO9:1509:15How I built a $1.4 million/month AI app at age 18How I Made It

A complaint was reportedly submitted by BJP candidate Mahesh Kewat, contesting the third Rajya Sabha seat, to the Returning Officer alleging that Meenakshi Natarajan deliberately hid information about a case filed against her in Telangana. View More

JPMorgan Chase's move suggests long-running AI agents are close to clearing the security and governance hurdles that have slowed adoption inside big companies. View More

In this articleJPMFollow your favorite stocksCREATE FREE ACCOUNT A person exits the JPMorgan Chase & Co. headquarters on Feb. 17, 2026, in New York City. Zamek | View Press | Corbis News | Getty Images JPMorgan Chase plans to deploy artificial intelligence agents later this year that can work autonomously for far longer than existing versions, marking another milestone in the corporate adoption of AI, CNBC has learned exclusively.AI agents are evolving from tools that complete single tasks to digital workers that manage workflows across multiple steps and disparate software programs, Derek Waldron, JPMorgan chief analytics officer, told CNBC in an interview."We've entered now the era of long-running autonomous agents," Waldron said. That "means that agents don't just run for two or three minutes to carry out a goal or some instructions of a human, they can run for an hour or two."Long-running agents have already emerged over the past year as examples including Anthropic's Claude Code and OpenClaw went viral. JPMorgan's planned deployment, however, suggests the technology is close to clearing the security and governance hurdles that have slowed adoption inside large companies.JPMorgan, run by CEO Jamie Dimon since 2006, is the biggest U.S. bank by assets and has a nearly $20 billion annual technology budget.While much of the conversation around generative AI has focused on model intelligence, tech leaders are increasingly focused on a different question, said Waldron: How long can AI systems operate effectively before requiring human intervention?That concept, which Waldron called "intellectual coherence," has been helped by improvements in how AI models reason, enabling them to be more of a "team manager than an individual worker," he said. "Just like how people function, team managers can parse out a problem and delegate activities, and teams can run for a lot longer to do more complex things," Waldron said.Other recent advances that have helped agents do more complex jobs include the ability to write code, control web browsers and interact directly with desktop software, he said.While long-running agents aren't yet ready for corporate use because of security concerns, their arrival isn't far off, Waldron said: "We will have those in 2026."Eventually, AI agents will remain coherent for "multiple hours, then days, then weeks," he said. 'Diminished' moats AI-driven productivity gains have been most visible in software development and back-office type operations, but Waldron said it is increasingly boosting revenue-generating roles.In private banking, for example, AI systems screen market activity, client positions and research overnight, helping bankers focus on client interactions.The bank has seen a 20% increase in gross sales because of these tools, he said, and believes they could eventually allow individual bankers to expand client coverage by as much as 50%.Dimon has been clear that some of his workers will be displaced by AI, saying that the firm is preparing to train and redeploy employees impacted by the changes.But Waldron added that while many companies initially approached AI as a cost-cutting tool, they are increasingly recognizing its potential to expand revenue."For enterprises to win with AI, it's not about cutting the maximum number of jobs," he said. "It's all about trying to create a sustainable competitive advantage."Waldron said that the bank's thinking around building versus buying software from outside vendors has also shifted. JPMorgan now looks more closely at whether it can build capabilities in-house, he said, possibly putting pressure on some traditional vendors."The moat around certain types of software companies is most certainly diminished versus where it was in the past," he said.— CNBC's Gabrielle Fonrouge contributed to this report. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.