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The United States appears to be moving closer to joining Israel’s conflict with Iran with a possible strike on the country’s key nuclear facilities – including the Fordow Fuel Enrichment Plant, which is hidden deep inside a mountain.

Days into Israel’s attacks on Iran and its nuclear program, Israeli leaders are waiting to learn whether US President Donald Trump will help them finish the job.

“I may do it, I may not do it. I mean, nobody knows what I’m going to do. I can tell you this, that Iran’s got a lot of trouble and they want to negotiate. And I said, why didn’t you negotiate with me before all this death and destruction,” Trump told reporters at the White House on Wednesday.

Iran experts warn that a US attack on Iran could draw it into a quagmire even more challenging than the wars in Iraq and Afghanistan – a drawn-out confrontation that could last the duration of Trump’s presidency and exact a heavy toll on American lives and resources at Israel’s behest.

Tehran may not be able to sustain a long fight with the US, but it won’t be an easy war for Washington either, he said.

“Iran is a very large country, which means there would be a very large number of targets the United States would have to hit to take out Iran’s ability to strike back,” Parsi said, noting that this would be happening when there isn’t widespread support for a war with Iran in Trump’s own camp.

“Once you open up this Pandora’s box, we have no idea where things go,” Geranmayeh said. “Trump has, in the past, stepped back from the brink of war with Iran, he has the ability to do so again.”

Iran is ‘not one to surrender’

The Islamic Republic already sees the US as complicit in Israel’s attacks on Iran, saying the Israelis are attacking it with American weapons; and some Iranian officials have said that Tehran has already prepared itself for a “full-blown, drawn-out war.”

On Wednesday, Supreme Leader Ayatollah Ali Khamenei said Iran would not back down, a day after Trump called for “UNCONDITIONAL SURRENDER!” in a social media post.

“Let the Americans know that the Iranian nation is not one to surrender, and any military intervention on their part will undoubtedly result in irreparable damage,” Khamenei said in a national address.

Direct US involvement in the conflict could see Iran activate what remains of its proxies across Iraq, Yemen and Syria, which have previously launched attacks on American assets in the region.

Knowing that it can’t outright win a conflict against Israel and the US, experts say Tehran could seek to engage in a war of attrition, where it tries to exhaust its adversary’s will or capacity to fight in a drawn-out and damaging conflict, as it did during the decade-long war it fought with Saddam Hussein’s Iraq in the 1980s.

“The Iranian strategy may end up being just to try to sustain themselves, strike back as much as they can, and hope that Trump eventually tries to cut the war short, as he did in Yemen,” Parsi said.

After months of strikes on Yemen’s Iran-backed Houthi rebels, the US in May struck a ceasefire deal with the group, to Israel’s dismay.

“Here is how Tehran sees a chance of winning such a war of attrition,” Abdolrasool Divsallar, senior researcher at the UN Institute for Disarmament Research, wrote on X. “Benefiting in the long term from its offensive capabilities and exhausting US-Israel combined defense forces.”

“US entrance into this war is a bad and costly decision for everyone,” Divsallar added.

Not the end of the nuclear program

In a Persian language post directed at Trump on X, former Iranian nuclear negotiator Hossein Mousavian, who now lives in New Jersey, called on the president to be a “president of peace,” warning that a strike on Fordow would be both fruitless – as Iran has probably moved some of the advanced centrifuges to other locations – and likely to push Iran to a seek a nuclear bomb.

“With one wrong decision, you may not only be responsible for Iran’s decision to build a nuclear bomb, but also lead the United States into a war whose consequences for the American people will be far more damaging than the US attacks on Afghanistan and Iraq,” Mousavian wrote.

Parsi said if Iran’s nuclear program is destroyed, it could just be a matter of time to build a bomb should the government choose to do so.

“The Iranians have the knowhow and capacity to rebuild everything,” Parsi said. “All it (an attack) does is that it sets it back while dramatically increasing Iran’s motivation to build a nuclear weapon.”

Fordow is seen as the most difficult and sought-after target for Israel in its desire to destroy Iran’s nuclear infrastructure. But what exactly is inside the secretive facility is unclear, Parsi said.

“The main enrichment was taking place in Natanz (nuclear facility). Fordow was doing other things, more research,” he said, adding that it’s not entirely clear where Iran keeps its stockpile of enriched uranium.

Whether a US strike can successfully destroy the complex that is hidden deep in a mountain close to the holy city of Qom also remains unclear.

Fordow’s main halls are an estimated 80 to 90 meters (around 262 to 295 feet) underground – safe from any aerial bomb known to be possessed by Israel.

Yechiel Leiter, Israel’s ambassador to the US, has said that only the US Air Force has the weapon that can destroy the site. But analysts caution that there’s no guarantee that even America’s “bunker buster” bomb – the GBU-57/B, known as the Massive Ordnance Penetrator – could do the job.

Potential radioactive fallout?

Israel’s relentless bombing of Iran and its nuclear facilities has raised regional concern about potential radioactive fallout, which could spread far beyond Iran’s borders should a nuclear plant be struck.

Iran has only one nuclear power plant, located in the southeastern city of Bushehr – and Israel has not targeted it.

Scott Roecker, the vice president for Nuclear Materials Security at the Nuclear Threat Initiative, said there wouldn’t be a major radiation dispersal risk at Fordow “because that enriched uranium is fresh, as we call it in the industry.”

“It’s not been run through a reactor, and so you wouldn’t have radiation spread out over a large area, like you would, for example, if they would bomb Bushehr, the operational nuclear power plant, that would result in the dispersal of a lot of radiation.”

“It’d be localized around the site, and because it’s buried underground too, I don’t know you know how much of that would even be released,” Roecker added.

Behnam Ben Taleblu, a senior director at the Iran program at the Foundation for Defense of Democracies (FDD), a Washington, DC-based pro-Israel think tank, described the potential damage as being a chemical problem – a different kind of fallout than bombing a nuclear reactor.

There would be some concern, he said, but noted the risk is not as large as hitting a live reactor.

This post appeared first on cnn.com

Hackers stole the equivalent of roughly $90 million from Iran’s largest cryptocurrency exchange on Wednesday, according to multiple independent crypto-tracking firms.

A skilled pro-Israel hacking group known as “Predatory Sparrow” took credit for the cyberattack, which appeared to be aimed at further weakening Iran amid Israeli’s military strikes on Tehran.

In a post in Farsi on X, the hackers said that they had hit Iranian crypto exchange Nobitex, claiming that Iran used the exchange to skirt international sanctions. And in an extraordinary move, the hackers may have effectively thrown the stolen crypto away by transferring it to digital “wallets” that they don’t have control over, according to multiple cybersecurity experts.

Nobitex acknowledged the incident in a statement on its website on Wednesday, saying that access to the crypto exchange had been “suspended,” as a precaution, until further notice. Crypto-tracking firms Elliptic and TRM Labs confirmed the crypto was stolen and sent to “wallets” or crypto accounts, with an expletive that referenced Iran’s Islamic Revolutionary Guard Corps (IRGC).

In a separate hack on Tuesday, Predatory Sparrow said it had destroyed data at Iran’s state-owned Bank Sepah, claiming IRGC members used the bank’s services as a justification for the action. Iran’s state-affiliated Fars news agency warned of potential disruptions to bank services at gas stations.

The pair of stunning cyberattacks mark an escalation in Israel and Iran’s years-long shadow war in cyberspace, where the arch-enemies — or their supporters — have conducted digital spying and data-destroying attacks for tactical advantage.

Predatory Sparrow has emerged in the last five years to claim spectacular cyberattacks that have previously disrupted an Iranian steel mill and payments at Iranian gas stations. The hackers cast themselves as anti-government Iranian hacktivists but are widely suspected among cybersecurity experts of having ties to Israel.

Much of the cyber activity in recent days, as Israel and Iran trade missile strikes, appears aimed at sowing panic in the two countries. Israelis, for example, have received mass text messages impersonating authorities that claim that bomb shelters aren’t safe.

The Iranian government, meanwhile, has warned citizens not to use the WhatsApp messaging service out of fear that Israel was collecting information from those chats. A spokesperson for Meta, which owns WhatsApp, has called those claims false and underscored that WhatsApp messages are end-to-end encrypted.

This post appeared first on cnn.com

Hurricane Erick powered up into a Category 3 major hurricane Wednesday evening as it bore down on the southern Mexico coast, threatening to unleash destructive winds, flash floods and a dangerous storm surge on the region in coming hours, forecasters said.

Swiftly strengthening from a Category 1 hurricane hours earlier, Erick had maximum sustained winds of 125 mph (200 kph) by nightfall as it churned offshore about 55 miles (85 kilometers) southwest of Puerto Angel, the Miami-based U.S. National Hurricane Center said.

Erick was also about 125 miles (200 kilometers) southeast of Punta Maldonado and moving northwest at 9 mph (15 kph) toward an expected landfall sometime Thursday morning, according to the center’s latest advisory. A major hurricane is defined as Category 3 or higher and wind speeds of at least 111 mph (180 kph). Forecasters said further strengthening is expected and devastating wind damage is possible near where the eye crashes ashore.

Acapulco warily eyes the approaching hurricane

The projected path would take its center near the resort of Acapulco, which was devastated in October 2023 by Hurricane Otis, a Category 5 hurricane that rapidly intensified and caught many unprepared. At least 52 people died in Otis and 32 were missing, after the storm severely damaged almost all of the resort’s hotels.

In Acapulco on Wednesday, there was a strong presence of National Guard and police in the streets, but most visible were trucks from the national power company. Crews worked to clear drainage canals and brush.

Some beaches were already closed, but tourists continued to sunbathe on others hours earlier as the storm gained strength well offshore.

On a beach in Acapulco, a line of people waited for the help of a backhoe to pull their boats out of the water.

Adrián Acevedo Durantes, 52, hauls tourists around Acapulco’s picturesque coastline in boats. Two of his boats sank in Hurricane Otis and a third was badly damaged.

“We’re taking precautions because with Otis we never expected one of that magnitude to come and now with climate change the water is warmer and the hurricanes are more powerful,” Acevedo said.

This time the port administration ordered that no one ride out the storm aboard their boats. During Otis many lost their lives by staying on boats in the harbor, which had traditionally been how they ensured their safety during previous storms. He said knew some of those lost at sea.

He acknowledged that it was sunny and the water calm Wednesday afternoon, making it hard to imagine a major storm was on the way, but said “with Otis it was calm all day, sunny, then at midnight there were two hours of strong winds and we saw what had happened the next day.”

Some rush to finish storm preparations

Francisco Casarubio, a 46-year-old choreographer, carried a carton of eggs as he did some last-minute shopping ahead of the storm. He planned to pick up rice, beans and some canned food as well.

His home flooded and lost power in Otis and said he was taking Erick more seriously, but hadn’t had time to shop until Wednesday.

Forecasters said Erick was expected to lash Mexico’s Pacific coast with heavy rain, strong winds and a fierce storm surge. Rains of up to 16 inches (40 centimeters) could fall across the Mexican states of Oaxaca and Guerrero, with lesser totals in Chiapas, Michoacan, Colima and Jalisco states, the center’s advisory said. The rainfall threatened flooding and mudslides, especially in areas with steep terrain.

A hurricane warning was in effect from Acapulco to Puerto Ángel. A hurricane warning means hurricane conditions are expected in the area, and preparations to protect life and property should be rushed to completion, according to the hurricane center advisory.

Down the coast in Puerto Escondido near the southern edge of Erick’s possible path, some fishermen began pulling their boats out of the water under a drizzling sky Wednesday.

Surfers ignore red flag warnings to ride the waves

Even though the wind had yet to pick up at the Zicatela beach, red flags were up to warn people to stay out of the water. But some surfers ignored them as they continued to ride waves.

Laura Velázquez, Mexico’s national civil defense coordinator, said Erick was forecast to bring “torrential” rains to Guerrero, Oaxaca and Chiapas in southern Mexico. The mountainous region along the coast is especially prone to mudslides with numerous rivers at risk of flooding.

Guerrero Gov. Evelyn Salgado said all schools were closed Wednesday and the state had alerted all of the fishing and tourism operators to make their boats storm-ready. Acapulco’s port closed Tuesday evening. Salgado said 582 shelters were set to receive people who might evacuate their homes.

President Claudia Sheinbaum warned in her daily briefing that those in the hurricane’s path should heed government instructions and wait out the storm in their homes or designated shelters.

Erick quickly doubled in strength

Having doubled in strength in less than a day, Erick was churning through an ideal environment for quick intensification. Last year, there were 34 incidents of rapid intensification — when a storm gains at least 35 mph in 24 hours — which is about twice as many as average and causes problems with forecasting, according to the hurricane center.

This post appeared first on cnn.com

Leaving hospital with wounds still fresh, the sole survivor of last week’s Air India plane crash solemnly carried the coffin of his brother, performing the last rites for a life lost in the deadly disaster.

Vishwash Kumar Ramesh, a 40-year-old British national, appeared overcome with grief as he led the funeral procession through the streets of the western Indian coastal town of Diu on Wednesday.

Ramesh, who was discharged from hospital a day prior, had bandages on his face from cuts and bruises sustained after flight AI171 traveling to London’s Gatwick Airport from the western city of Ahmedabad plunged to the ground seconds after takeoff last Thursday, killing 241 people on board.

How Ramesh escaped with a few wounds is being described as nothing short of a miracle.

“I don’t know how I survived,” he told Indian state broadcaster DD News while in the hospital, explaining how he unbuckled himself from his seat in 11A – an emergency exit seat – shortly after the crash and walked away from the scene.

“For some time, I thought I was going to die. But when I opened my eyes, I realized I was alive,” he said.

He and his brother, who had been sitting a few rows away, had been returning to the UK after spending a few weeks visiting family in India.

Video of Ramesh stumbling from the crash has been viewed widely on news channels and across social media. Flames can be seen billowing behind him, with thick plumes of smoke rising high into the sky.

Authorities tasked with identifying the victims’ bodies have described just how difficult that process has been. High temperatures from the burning fuel left “no chance” to rescue passengers, India’s Home Minister Amit Shah said, making bodies difficult to recognize.

The Boeing 787 Dreamliner was carrying 125,000 liters – enough to last a 10-hour flight from Ahmedabad to London – but it crashed less than a minute after takeoff, plunging into a hostel for medical students, killing several on the ground.

As of Thursday, more than 150 bodies have been handed over to loved ones, according to health officials, with funerals taking place in various cities across the country.

Investigators, meanwhile, are looking at the wreckage to determine what could have caused one of the worst air crashes India has seen in decades.

A mayday call from the cockpit was made to air traffic control shortly before the crash, Indian civil aviation authorities said.

Both black boxes, the plane’s cockpit voice recorder and flight data recorder, are now being analyzed for valuable clues that could help determine the cause. India’s Aircraft Accident Investigation Bureau are leading the probe into the crash with assistance from the United Kingdom and the United States, as well as officials from Boeing.

The Indian government has also set up a separate high-level committee to examine what led to the crash. The committee is expected to file their preliminary findings within three months.

Air India – the country’s flagship carrier – said on Wednesday it is conducting safety inspections across all of its Boeing 787-8/9 aircraft fleet.

“Out of total 33 aircraft, inspections have now been completed on 26 and these have been cleared for service, while inspection of the remainder will be complete in the coming days,” it said in a statement on X.

Meanwhile, it has reduced international services on its widebody aircraft by 15% due to the ongoing inspections and the conflict in the Middle East, it added.

For days, families of victims have gathered near morgues awaiting to collect the bodies of their loved ones and searching for answers.

Grieving families

As Ramesh laid his brother to rest Wednesday, another family around 160 miles south in the city of Mumbai, performed burials for four members killed in the crash.

Imtiaz Ali Syed, 42, whose brother Javed, sister-in-law, nephew and niece were on board the Air India flight, said he received their bodies from authorities in Ahmedabad and brought them to the family’s hometown on Wednesday.

Syed’s sister, who also lives in the UK, took a direct flight from Mumbai to London, he said. But Javed and his family were on a different flight via Ahmedabad.

He described his disbelief when he learned that Javed was on the ill-fated Air India plane. “Someone woke me up and said a plane crashed in Ahmedabad and asked me to check what flight Javed was on,” Syed recalled.

Syed fondly described his brother as someone who was “always available” for their family.

“He looked after my grandmother’s medicines, he looked after my mother, he would take care of our sister,” he said, describing the unbearable pain of losing Javed.

“Within a week or fifteen days, or a month, maybe he will call,” Syed said. “Telling me he is somewhere.”

This post appeared first on cnn.com

Follow along with Frank as he presents the outlook for the S&P 500, using three key charts to spot bullish breakouts, pullback zones, and MACD signals. Frank compares bearish and bullish setups using his pattern grid, analyzing which of the two is on top, and explains why he’s eyeing SMCI and AMD as potential trades. From there, he wraps the show with a look at some ETF plays.

This video originally premiered on June 17, 2025.

You can view previously recorded videos from Frank and other industry experts at this link.

Joe presents his game-changing “undercut and rally” trading pattern, which can be found in high volatility conditions and observed via RSI, MACD and ADX signals. Joe uses the S&P 500 ETF as a live case study, with its fast shake-out below support followed by an equally quick rebound; a good illustration of why lagging indicators can’t be trusted right after a vertical drop.

In addition, Joe maps out three possible scenarios for the S&P: (1) an orderly pullback, (2) a disorderly slide that erases moving-average support, or (3) a breakout. He closes by analyzing viewer requests, spotlighting DOCS and KMI for constructive consolidations, and flagging PGEN as still too weak for a swing entry.

The video premiered on June 18, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

Grayson explores a hidden gem on the SharpCharts platform: StyleButtons! These handy little customizable tabs give you quick, one-click access to your favorite chart templates, allowing you to jump from ChartStyle to ChartStyle with a seriously streamlined charting workflow. Grayson demonstrates how to create and save ChartStyles and assign them to StyleButtons in your account – a major efficiency boost for all StockCharts users! Plus, he describes how he uses StyleButtons to make multi-timeframe analysis a breeze and explain his unique “indicator layering” approach to ChartStyles.

This video originally premiered on June 18, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

When the stock market seems to be drifting sideways without displaying a clear bullish or bearish bias, it’s normal for investors to get anxious. It’s like being at a crossroads, wondering whether to go left, right, or stay put.

The truth is nobody has a crystal ball, and predicting what the market will do next is a fool’s errand. Should you jump in and buy now, or wait for the price to dip lower? Instead of fretting over these questions, what you can do is empower yourself with the right tools to make informed decisions.

For one example, creating ChartLists is a terrific way to keep an eye on the charts that are important to you. 

A logical starting point is to monitor a broad market index such as the S&P 500 ($SPX), which acts as a barometer for the overall health of the market. The chart from this week’s article “Navigate the Stock Market with Confidence” highlighted some important levels to monitor. The area between 5950 and 6050 is key; a break above or below these levels can signal what’s coming next.

Below is the chart of the S&P 500, with the key levels and updated to reflect the data after Wednesday’s close. Note that the index is still within the 5950 to 6050 range. Fed Chairman Jerome Powell’s press conference didn’t do much to move the market, although there was a bit of a selloff towards the close. But that’s nothing to be alarmed about. Active participants would have unloaded their positions ahead of Wednesday’s close due to the Middle East conflict and the market being closed on Thursday to observe Juneteenth.

FIGURE 1. DAILY CHART OF THE S&P 500. Monitor the price action at key support and resistance levels.Chart source: StockCharts.com. For educational purposes.

If the S&P 500 breaks below 5950, it could mean a further decline or a market reversal. On the other hand, if the index breaks above 6050, it could indicate a move towards new highs, or it could reverse after hitting its all-time high. With so many possible outcomes, navigating the stock market can feel like a puzzle.

This is where confirmation tools become your best friends. When the overall market is wavering, these tools provide that extra bit of confidence you need.

Take the McClellan Summation Index as an example. If you’re a regular reader of our weekly ChartWatchers newsletter (and if not, you should definitely check it out — it’s packed with insights), you might recognize the chart below from last week’s issue.

FIGURE 2. NYSE MCCLELLAN SUMMATION INDEX VS. THE NYSE COMPOSITE INDEX. Note the divergence between the two and the various levels (red horizontal lines). Chart source: StockCharts.com. For educational purposes.

This chart displays the NYSE McClellan Summation Index ($NYSI) overlaid on an area chart of the NYSE Composite Index ($NYA). The McClellan Summation Index tends to generate fewer signals, making it helpful for looking at medium and long-term trends. It helps to cut through the noise of an indecisive market and gives you a clearer picture.

Notice how, after its April low, the $NYSI climbed from -590 to 688 relatively quickly in sync with the NYSE. But here’s where it gets interesting: after hitting 688, there is a divergence. While the NYSE continued to move higher, the $NYSI started trending lower, making lower highs. This could be an early warning sign that the market’s upward momentum may be waning.

The McClellan Summation Index gives us some clear levels to monitor.

  • Bearish scenario. If the S&P 500 falls below the 5950 level, followed by the $NYSI dropping below its last low of 525, then it’s likely equities could see further declines.
  • Bullish scenario. If the S&P 500 breaks above the 6050 level, followed by the $NYSI moving higher than 642 and then the 688.50 level, it would be a positive sign for equities.

The Bottom Line

So if you’re wondering when might be a good time to “buy the dip” but are unsure about when that dip might occur, these types of charting tools can help guide your investment decisions. If your indicators line up and confirm an upward move, consider investing a portion of your capital and then adding more if the market continues to move in your favor. A big part of how well you manage your finances has to do with money management.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

A new king reigns in TV land.

Streaming has officially surpassed broadcast and cable as a share of total television viewing, according to Nielsen data.

In May, streaming accounted for 44.8% of viewership, while broadcast (20.1%) and cable (24.1%) together represented 44.2% of overall people tuning in.

‘While many have expected this milestone to have occurred sooner, sporting events, news and new-season content have kept broadcast and cable TV surprisingly resilient,’ Brian Fuhrer, senior vice president at Nielsen, said in a video for Nielsen’s The Gauge monthly viewership report. ‘The trend, however, has been very consistent.’

While Netflix has boasted the most overall TV use for four years straight, YouTube has now seen four straight months of TV share increase, Nielsen said. The platform, owned by Google and its parent company, Alphabet, boasted the highest share of TV consumption among all streamers in May, with a 12.5% share. Rounding out the top five were Netflix, Disney-owned platforms including ESPN and Hulu, Amazon’s Prime Video, and the Roku Channel.

The three largest so-called free, ad-supported services, or FAST channels — Paramount’s Pluto TV, the Roku Channel and Fox’s Tubi — combined for 5.7% of total TV viewing in May, more than any individual broadcast network.

Streaming’s overall share is likely to remain neck and neck with traditional TV viewership for some time before it eventually surpasses it permanently in the near future, Nielsen said.

This post appeared first on NBC NEWS

Amazon CEO Andy Jassy said Tuesday that the company expects artificial intelligence ‘will reduce our total corporate workforce as we get efficiency gains’ over time.

‘We will need fewer people doing some of the jobs that are being done today, and more people do other types of jobs,’ Jassy added in a memo to Amazon’s workforce.

The CEO of the country’s second-largest retailer and employer said Amazon is using generative AI ‘in virtually every corner of the company.’

Amazon employs more than 1.5 million people worldwide, according its most recent annual report.

This year, Amazon plans to spend $100 billion to expand AI services and data centers that power them, up from $83 billion last year.

Jassy said he believes so-called ‘AI agents’ will ‘change how we all work and live.’ While ‘many of these agents have yet to be built,’ he said, ‘they’re coming, and fast.’

He continued by saying that they will ‘change the scope and speed at which we can innovate for customers.’

Amazon currently has more than a thousand AI services and applications running inside the company or in progress of being built.

Jassy’s comments Tuesday will likely invoke fears that many corporate workers have had as artificial intelligence captures the eye of efficiency-minded executives across corporate America. A recent study from Bloomberg Intelligence said that AI could replace up to 200,000 banking jobs.

Amazon CEO Andy Jassy in New York on Feb. 26.Michael Nagle / Bloomberg via Getty Images

Artificial intelligence has also been shown to be effective at coding for software programs.

Cybersecurity firm Crowdstrike eliminted 5% of its workforce in May, saying that AI was driving ‘efficiencies across both the front and back office.’

Shopify CEO Tobi Lutke said managers at the e-commerce company will be expected to prove why they ‘cannot get what they want done using AI’ before asking for more headcount.

‘Having AI alongside the journey and increasingly doing not just the consultation, but also doing the work for our merchants is a mind-blowing step function change here,’ Lutke added.

Language learning firm Duolingo also recently said that it would replace contract workers with artificial intelligence. ‘We’ll gradually stop using contractors to do work that AI can handle,’ CEO Luis von Ahn wrote in a memo to Duolingo employees in May. ‘Headcount will only be given if a team cannot automate more of their work,’ von Ahn added.

The CEO of U.K. telecom giant BT said this week that plans to cut 40,000 jobs from the company’s workforce over the next 10 years ‘did not reflect the full potential of AI.’

This post appeared first on NBC NEWS