Join @gattaca, Global Advisory CISO at @1Password, live on the #BlackHat2026# PULSE_STAGE/05: "Standing Access Is the Problem. AI Agents Just Made It Worse." If your agents still have standing access, this is the session to drop in with your questions. 📅 Today | 11:25AM 📍 PULSE_STAGE/05 Add to your schedule: #BlackHat2026# #IdentitySecurity# #ZeroTrust# #AIAgents# #BlackHat#

Gartner projects that through 2029, more than 50% of successful attacks on AI systems will exploit access control weaknesses. At #BlackHat2026#, Dave Lewis, 1Password Global Advisory CISO, breaks down how a compromised AI agent is fundamentally different from a leaked password and why standing access is becoming one of the biggest security risks organizations face. You'll also see how 1Password replaces standing access with time-limited, task-scoped credentials that are tied to verified identity and revoked automatically when the work is complete. "Standing Access Is the Problem. AI Agents Just Made It Worse." 🗓️ Thursday, August 6 | 11:25am 📍 PULSE_STAGE/05 Add this session to your Black Hat schedule: #BlackHat# #IdentitySecurity# #ZeroTrust# #AIAgents# #1Password#

Supply chain attackers don't search your machine because they already know where to look. A malicious package installs cleanly, a hidden script runs, and credentials are gone before your terminal comes back. We're at Black Hat Booth 4735 showing how to make the secure path the easy one, with secrets that never sit exposed, pipelines without standing credentials, and AI agents that never see raw values. #BlackHat# #Developers# #DevSecOps# #1Password# #cybersecurity# #IdentitySecurity# #BlackHat2026#

Identity is the front line of modern attacks, and AI agents accelerate the threat at scale. Meet the CrowdStrike Agentic Identity Provider, built specifically for AI agents. Agentic IdP gives every AI agent a trusted identity, brokers only the access needed for as long as needed, and ties every action back to the human or system behind it, accelerating the shift to Continuous Identity. With the Falcon platform, every agent is discovered, established as a trusted identity, authorized in real time, and secured at runtime. Learn how CrowdStrike is defining the future of AI agent identity security:

AI didn’t create super-hackers. It made average attackers fast, polished, and persistent. Our Head of Threat Intel breaks down evolving AI risks, supply chain defense, and identity security on @CrowdStrike’s Adversary Universe Podcast.

As AI agents gain access to sensitive enterprise systems, companies need new ways to control what they can do. Meta Marshall breaks down the emerging market for agentic identity security. Tune into the latest Thoughts on the Market:

LIQN FACTOR OPTIONS (beta) lets take a look at what options are telling us about FACTORS heading into FOMC ... another lens for Liquidation Nation 1. EVERY ONE OF THE "HF SHORT" BASKETS ARE PRICED TO SQUEEZE: 18 of 18 have calls more expensive than puts. Crowded & Beaten-Down: calls cost 23 pts more. Vol 37% above realized. That's a chase, and it's already in the price 2. CYBER & SOFTWARE are "cheap": Cybersecurity group prices vol at 0.75× what it realizes: AI Security 45% implied against 64% realized, Identity Security 37% against 52%, Cybersecurity 44% against 62%. Enterprise Software is 0.90×, with AI Monetizers at 0.66 3. The AI complex is where the dollars and the biggest priced moves are, and the dollars are all calls....Complete AI Stack traded $5.37B of options premium today...Vol itself is fairly priced across the AI groups at 1.0 to 1.05× realized, so this is size and direction Good luck for Warsh

Weekly|Singapore Gathering, Malaga ECOC Happy Hour, AI Labs Keep Training, Optics Supply Tightens, AIDC Power, CRM Dreamforce, PLTR Sovereign AI, BE First, thank you to everyone who joined our gathering in Singapore this week. Registration and attendance were well beyond our expectations, and the atmosphere was amazing. Members of both our analyst and developer teams were present and had great conversations with investors and industry experts. Next, our analyst Fabian will attend ECOC in Malaga, Spain on Sep 22-23 and will host a happy hour there. Please RSVP if you are interested. Coming back to the market, the AI hardware selloff after Amodei’s call for restraint looked overdone to us, and the subsequent rebound suggests investors are reconsidering what a slowdown would actually mean. We spoke with people at three frontier labs: internal training and compute expansion are continuing, while additional safety checks are more likely to lengthen evaluation and public-release timelines. Safety risks deserve attention, but our base case remains limited disruption to near-term infrastructure demand. The enterprise side helps explain that view. In our 41-company Tokenomics panel, less than 5% of AI spending goes to the most advanced frontier models. Existing deployments can keep expanding as models become cheaper, more reliable, and easier to integrate. Greater scrutiny also creates work for security platforms and identity providers: enterprises need to monitor agents in production, govern what they can access, and retain logs they can trust. Drug discovery gives us another reason to be constructive on AI demand beyond the current enterprise rollout. The Morgan Stanley Healthcare Conference commentary points to early spending across the workflow: TMO is already seeing AI-driven high-throughput experiments lift reagent consumption, CRL expects more shots on goal to support preclinical demand, and DHR is seeing early lab-automation adoption. SDGR says pharma AI budgets are increasingly incremental, with BMS an early proof point. Morgan Stanley’s healthcare specialist Dan Bone also highlighted Novo Nordisk’s use of Claude Science for drug-discovery challenges, GenScript’s completion of Lilly’s TuneLab validation loop for wet-lab services, and $290mn of financing for Anew Labs, which spun out of ByteDance’s internal drug-discovery team in June. The rally in names such as TWST shows investors are taking notice. For us, the demand case is that more AI-generated candidates can support repeated rounds of modeling, screening and physical validation, expanding compute use alongside laboratory spending. It is early to size that compute opportunity, but the evidence of incremental budgets and reagent consumption makes drug discovery a credible additional source of AI demand. Physical delivery remains the harder constraint across the infrastructure names we cover. CIOE orders and production schedules extend into 2027, but 3nm DSPs, lasers, and PCBs determine which optics vendors can ship. On power, our follow-up channel work supports 2.4–3.0MW of turbine nameplate per MW of IT for the off-grid designs we examined; that ratio doesn’t apply to the entire turbine market. Oracle’s results reinforce the value of earlier energization for Bloom, with permitting, manufacturing, and service capacity still the key checks. This Week’s Reports AI labs keep training despite the pacing debate. Our interviews point to longer evaluation and release timelines with limited near-term disruption to training investment or enterprise inference demand. Optics: orders extend into 2027, and access to supply determines who delivers. Our conference and CIOE notes track higher laser pricing, tight 3nm DSP capacity and the NPO/CPO ramp, with leading vendors best placed to turn strong demand into shipments. AIDC: nameplate capacity needs to be translated into dependable IT power. We answer six investor questions with new channel checks and a rebuilt off-grid sizing framework, separating redundancy, site derating and project readiness from headline turbine supply. Cybersecurity: AI safety concerns strengthen the case for platform and identity security. Our note maps the gaps exposed by agent incidents to runtime monitoring, non-human identity governance, isolation, vulnerability management and tamper-resistant logs. Premium Report Snapshot A portion of our research is reserved for Premium subscribers and is not distributed via Substack. Below is a snapshot of what Premium subscribers received this week beyond the Substack feed. Research | CRM: Dreamforce Clarifies Claudeforce Monetization as Salesforce Cedes the UI Deep | PLTR: Sovereign AI Expands the Opportunity; Partner Delivery Sets the Long-Term Ceiling Research & Roadshow | BE: Oracle Reinforces the Time-to-Power Thesis; Delivery Remains the Test Weekly Expert Interviews Summary A snapshot of the expert interviews we conducted during the past week is below; full transcripts and takeaways are available on the FUNDA platform. Meta: Muse Monetization and Advertising Share (META, GOOGL) Enterprise AI: Token Budgets and Model Routing (GOOGL) Microsoft: Internal AI Spend and Usage Mix (MSFT) RoboSoft: Workflow Automation and AI Spend Growth LendingClub: Production AI and Model Routing (LC, AMZN) Delta: Vertical Power Supply Bottlenecks and 800V Architecture (FLEX, GOOGL, MPWR, META) Vicor: Vertical Power Economics at Very High Current (VICR, NVDA) Detailed Report