New projections earlier this year have the Great Wealth Transfer at a potential $124 trillion through 2048.

BofA has been tracking younger high net worth investors closely. 83% of those 43 and younger said they currently own art or aspire to. This is compared to just 34% of those older than 43.

Meanwhile, the number of Warhols and Picassos isn’t going up.

Masterworks lets you invest in the art market before the full weight of that decades-long wealth transfer hits. 

70,000+ investors have already deployed $1.3 billion across 500+ artworks by Banksy, Basquiat, and many more. 29 sales to-date have delivered net annualized returns like 16.5%, 17.6%, and 17.8% on those held longer than one year, not including those unsold.

This is your opportunity to invest in the art market. Click here to skip the waitlist.

^{Past performance is not indicative of future performance. Investing involves risk. See important disclosures at masterworks.com/cd}

Majority of AI Models Found Non-Compliant with EU Regulations: A recent testing tool found that major AI models violated EU rules in as many as 93% of cases. The findings raise fresh concerns about compliance across AI development and deployment. Link

States

Silicon Valley Lawmaker Pushes AI Workforce Partnerships Over New Rules: A Silicon Valley member of Congress is urging tech companies to partner on education and job training rather than relying on stricter AI regulation, aiming to better prepare workers for AI-driven changes. Link

California Lawmakers Push Tighter Scrutiny of AI Data Centers: California lawmakers are seeking stricter oversight of AI-driven data center expansion as concerns mount over growing electricity and water demands. Link

Florida Supreme Court Implements AI Policy for Lawyers: The Florida Supreme Court adopted a statewide policy warning that improper use of AI in legal proceedings could lead to sanctions. The rule adds clearer guardrails for AI use in court-related work. Link

AI Industry Expands Its Lobbying Footprint in Florida: Major AI companies are building a stronger lobbying presence in Florida’s Capitol to influence emerging artificial intelligence policy in the state. Link

Michigan Senate Candidates Clash Over AI Data Center Regulation: Democratic U.S. Senate candidates in Michigan debated artificial intelligence data center regulation, signaling the issue’s growing political relevance. Link

North Carolina Advances Data Center Bill With Climate Implications: North Carolina lawmakers passed a data center measure backed in part by Gov. Josh Stein, while testing how the state balances digital infrastructure growth with its 2050 climate goals. Link

NYDFS Warns Financial Firms on Frontier AI Cyber Risks: New York’s financial regulator issued guidance warning that frontier AI tools can heighten cyber risk and outlining steps firms should take to strengthen defenses. Link

Ohio Suspends Major Data Center Tax Break: Ohio is pausing a key incentive for data centers as policymakers weigh whether tech companies should bear more of the rising power costs tied to AI growth. Link

State AI Sandboxes Fill Gaps Left by Federal Oversight: Utah’s clinical AI sandbox illustrates how states are building frameworks to oversee AI tools in healthcare as federal regulators like the FDA lag behind. Link

Vermont Governor Vetoes AI Data Center Regulation Bill: Vermont Gov. Phil Scott rejected legislation that would have regulated the financial and environmental impacts of AI data centers on local communities. Link

Google Launches AI Threat Defense Platform to Combat Cyberattacks: Google unveiled an AI Threat Defense platform combining Mandiant, Wiz, and Gemini capabilities to help customers counter AI-powered attacks. It’s a notable example of using AI tools to defend against AI-enabled threats. Link

Charges Laid in AI Deepfake Case Involving Canadian Women: Canadian authorities charged two men after a multi-jurisdictional investigation into violent and sexual AI deepfakes targeting dozens of women. The case highlights the growing real-world harms tied to synthetic media abuse. Link

Countering Beijing's AI Distillation Tactics: A Foreign Affairs analysis examines how to respond to what it describes as China’s unauthorized AI “distillation” practices. The issue underscores rising geopolitical and security tensions around model replication and intellectual property. Link

OpenAI Launches Biodefense Program Addressing Biosecurity Risks: OpenAI has launched a biodefense program focused on the biosecurity implications of advanced AI, including risks tied to biological weapons. The effort reflects growing attention to high-stakes misuse scenarios beyond cyber. Link

Anthropic Surpasses OpenAI with $47 Billion Run-Rate Revenue: Anthropic’s run-rate revenue has topped $47 billion, rising 50% in just seven weeks on strong enterprise adoption. The growth suggests its commercial momentum is accelerating fast. Link

Nvidia Invests Billions in Photonics Technology for AI Advancement: Nvidia is pouring billions into photonics as a more efficient alternative to electrical data transfer. The bet could reshape the hardware and infrastructure stack powering the AI boom. Link

The Internet is Being Rebuilt for Machines: AWS, Cloudflare, and others are redesigning cloud infrastructure as AI agents move into production and machine-generated traffic rises. The shift points to a web increasingly optimized for software agents rather than human users. Link

AGI Could Arrive in Three Years, According to DeepMind CEO: DeepMind CEO Demis Hassabis said AGI could emerge within three years, framing today’s AI agents as a societal stress test for more powerful systems ahead. His comments add urgency to debates over preparedness and governance. Link

AI's Energy Demands Shift Chip Design Focus, TSMC States: TSMC says surging AI electricity needs are pushing chipmakers to prioritize energy efficiency over raw compute gains. That change could redefine the next generation of AI hardware. Link

Interns on Wall Street Embrace AI Transformations This Summer: This year’s Wall Street interns are entering banks reshaped by AI-driven changes to workflows and job expectations. The story offers a snapshot of how AI is already altering entry-level work in finance. Link

AI Fuels a Creative Boom, Providing New Tools for Professionals: Wired looks at how AI is expanding what creative professionals can do and broadening access to powerful new tools. The piece also raises the question of how to keep that creative expansion aligned with positive outcomes. Link

Apple's Push for Local AI Processing on Devices: Apple is reportedly exploring running AI locally on the iPhone, iPad, Mac, and Apple Watch instead of leaning primarily on large centralized data centers. The strategy could differentiate Apple on privacy, latency, and device integration. Link

Announcements Expected at Microsoft Build 2026: Microsoft Build 2026 is expected to feature several major AI announcements and offer a clearer view of the company’s near-term product roadmap. The event is shaping up as a key signal for Microsoft’s next AI moves. Link