AI Takes Gold at Math's Toughest Test
Not to be outdone, OpenAI quietly posted on X that its experimental reasoning model matched that feat. Three former IMO medalists checked the proofs and unanimously gave it the same 35?point score, all under the same no?internet, no?tools conditions.
Google plans to share the model with a few trusted mathematicians before rolling it out to subscribers. OpenAI calls its gold?level system purely experimental and won't release anything this powerful for several months.
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This is a big deal because it shows AI can handle real, structured problem solving. We might soon see AI helping students learn advanced math, researchers verify proofs in a flash, or even new kinds of math competitions where humans and machines go head to head.
This article first appeared on GuruFocus.
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ProFrac Holding Corp. is a technology-focused, vertically integrated and innovation-driven energy services holding company providing hydraulic fracturing, proppant production, related completion services and complementary products and services to leading upstream oil and natural gas companies engaged in the exploration and production ("E&P") of North American unconventional oil and natural gas resources. ProFrac operates through three business segments: Stimulation Services, Proppant Production and Manufacturing, in addition to Other Business Activities. For more information, please visit ProFrac's website at Cautionary Statement Regarding Forward-Looking Statements Certain statements in this press release may be considered 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be accompanied by words such as 'may,' 'should,' 'expect,' 'intend,' 'will,' 'estimate,' 'anticipate,' 'believe,' 'predict,' or similar words. Forward-looking statements relate to future events or the Company's future financial or operating performance. These forward-looking statements include, among other things, statements regarding: the Company's strategies and plans for growth; the Company's positioning, resources, capabilities, and expectations for future performance; customer, market and industry demand and expectations; the Company's expectations about contributions of acquired entities; fleet deployment levels; the Company's expectations about price fluctuations, and macroeconomic conditions impacting the industry; competitive conditions in the industry; the Company's ability to increase the utilization of its mining assets and lower our mining costs per ton; success of the Company's ongoing strategic initiatives; the risks relating to launching a new business; the Company's intention to increase the number of fully integrated fleets; the Company's currently expected guidance regarding its 2025 financial and operational results; the Company's ability to earn its targeted rates of return; pricing of the Company's services in light of the prevailing market conditions; the impact of continued inflation, risk of a global recession, and U.S. trade policy, including the imposition of tariffs and retaliatory measures; the Company's currently expected guidance regarding its planned capital expenditures; statements regarding the Company's liquidity and debt obligations; the Company's anticipated timing for operationalizing and amount of contribution from its fleets and its sand mines; expectations regarding pricing per ton range; the amount of capital that may be available to the Company in future periods; any financial or other information based upon or otherwise incorporating judgments or estimates relating to future performance, events or expectations; any estimates and forecasts of financial and other performance metrics; and the Company's outlook and financial and other guidance. Such forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability to achieve the anticipated benefits of the Company's acquisitions, mining operations, and vertical integration strategy, including risks and costs relating to integrating acquired assets and personnel; risks that the Company's actions intended to achieve its 2025 financial and operational guidance will be insufficient to achieve that guidance, either alone or in combination with external market, industry or other factors; risks related to the imposition of tariffs and retaliatory measures, and changes in U.S. trade policy; the failure to operationalize or utilize to the extent anticipated the Company's fleets and sand mines in a timely manner or at all; the Company's ability to deploy capital in a manner that furthers the Company's growth strategy, as well as the Company's general ability to execute its business plans; the risk that the Company may need more capital than it currently projects or that capital expenditures could increase beyond current expectations; risks regrading access to additional capital; industry conditions, including fluctuations in supply, demand and prices for the Company's products and services and for oil and natural gas; global and regional economic and financial conditions, including as they may be affected by hostilities in the Middle East and in Ukraine; the effectiveness of the Company's risk management strategies; and other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in the Company's filings with the Securities and Exchange Commission ('SEC'), which are available on the SEC's website at Forward-looking statements are also subject to the risks and other issues described below under 'Non-GAAP Financial Measures,' which could cause actual results to differ materially from current expectations included in the Company's forward-looking statements included in this press release. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved, including without limitation any expectations about the Company's operational and financial performance or achievements through and including 2025. There may be additional risks about which the Company is presently unaware or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it expressly disclaims any duty to update these forward-looking statements, except as otherwise required by law. Non-GAAP Financial Measures Adjusted EBITDA, Free Cash Flow and Net Debt are non-GAAP financial measures and should not be considered as a substitute for net income (loss), net cash from operating activities, or GAAP measurements of debt, respectively, or any other performance measure derived in accordance with GAAP or as an alternative to net cash provided by operating activities as a measure of our profitability or liquidity. Adjusted EBITDA, Free Cash Flow and Net Debt are supplemental measures utilized by our management and other users of our financial statements such as investors, commercial banks, research analysts and others, to assess our financial performance. We believe Adjusted EBITDA is an important supplemental measure because it allows us to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization) and items outside the control of our management team (such as income tax rates). We believe Free Cash Flow is an important supplemental liquidity measure of the cash that is available (if any), after purchases of property and equipment, for operational expenses, investment in our business, and to make acquisitions, and Free Cash Flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment. We believe Net Debt is an important supplemental measure of indebtedness for management and investors because it provides a more complete understanding of our leverage position and borrowing capacity after factoring in cash and cash equivalents. We define Adjusted EBITDA as our net income (loss), before (i) interest expense, net, (ii) income taxes, (iii) depreciation, depletion and amortization, (iv) loss or gain on disposal of assets, net, (v) stock-based compensation, and (vi) other charges, such as certain credit losses, gain or loss on extinguishment of debt, unrealized loss or gain on investments, acquisition and integration expenses, litigation expenses and accruals for legal contingencies, acquisition earnout adjustments, severance charges, goodwill impairments, gains on insurance recoveries, transaction costs, third-party supply commitment charges, lease termination costs, and impairments of long-lived assets. We define Free Cash Flow as net cash provided by or (used in) operating activities less investment in property, plant and equipment plus proceeds from sale of assets. Net income (loss) is the GAAP measure most directly comparable to Adjusted EBITDA. Adjusted EBITDA should not be considered as an alternative to net income (loss). Adjusted EBITDA has important limitations as an analytical tool because it excludes some but not all items that affect the most directly comparable GAAP financial measure. Because Adjusted EBITDA may be defined differently by other companies in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Net cash provided by operating activities is the GAAP measure most directly comparable to Free Cash Flow. Free Cash Flow should not be considered as an alternative to net cash provided by operating activities. Free Cash Flow has important limitations as an analytical tool including that Free Cash Flow does not reflect the cash requirements necessary to service our indebtedness and Free Cash Flow is not a reliable measure for actual cash available to the Company at any one time. Because Free Cash Flow may be defined differently by other companies in our industry, our definition of this Non-GAAP Financial Measure may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Net Debt is defined as total debt plus unamortized debt discounts, premiums, and issuance costs less cash and cash equivalents. Total debt is the GAAP measure most directly comparable to Net Debt. Net Debt should not be considered as an alternative to total debt. Net Debt has important limitations as a measure of indebtedness because it does not represent the total amount of indebtedness of the Company. The presentation of Non-GAAP Financial Measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with GAAP. The following tables present a reconciliation of the Non-GAAP Financial Measures of Adjusted EBITDA, Free Cash Flow and Net Debt to the most directly comparable GAAP financial measure for the periods indicated. - Tables to Follow- June 30, December 31, (In millions) 2025 ASSETS Current assets: Cash and cash equivalents $ 26.0 $ 14.8 Accounts receivable, net 333.8 312.7 Accounts receivable — related party, net 18.9 16.1 Inventories 180.9 201.1 Prepaid expenses and other current assets 20.7 29.4 Total current assets 580.3 574.1 Property, plant, and equipment, net 1,636.0 1,761.2 Operating lease right-of-use assets, net 138.0 158.6 Goodwill 301.3 302.0 Intangible assets, net 129.9 148.9 Other assets 45.2 43.3 Total assets $ 2,830.7 $ 2,988.1 LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 335.8 $ 324.3 Accounts payable — related party 30.0 18.1 Accrued expenses 77.0 67.2 Current portion of long-term debt 131.0 159.6 Current portion of long-term debt— related party 5.0 5.0 Current portion of operating lease liabilities 26.7 26.0 Other current liabilities 33.0 56.6 Other current liabilities — related party 1.6 3.2 Total current liabilities 640.1 660.0 Long-term debt 941.9 936.1 Long-term debt — related party 6.3 8.3 Operating lease liabilities 116.6 137.1 Deferred tax liabilities 14.8 14.9 Tax receivable agreement liability 82.9 82.9 Other liabilities 9.8 9.2 Total liabilities 1,812.4 1,848.5 Mezzanine equity: Series A preferred stock 66.1 63.5 Stockholders' equity: Class A common stock 1.5 1.5 Additional paid-in capital 1,235.9 1,241.2 Accumulated deficit (361.9 ) (235.9 ) Accumulated other comprehensive income — 0.1 Total stockholders' equity attributable to ProFrac Holding Corp. 875.5 1,006.9 Noncontrolling interests 76.7 69.2 Total stockholders' equity 952.2 1,076.1 Total liabilities, mezzanine equity, and stockholders' equity $ 2,830.7 $ 2,988.1 Expand ProFrac Holding Corp. 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(NasdaqGS: ACDC) Reconciliation of Net Income (Loss) to Adjusted EBITDA Expand Three Months Ended Six Months Ended June 30, March 31, June 30, March 31, June 30, June 30, (In millions) 2025 2025 2024 2024 2025 2024 Net income (loss) $ (103.5 ) $ (15.4 ) $ (65.6 ) $ 3.0 $ (118.9 ) $ (62.6 ) Interest expense, net 35.1 35.9 39.6 37.6 71.0 77.2 Depreciation, depletion and amortization 104.7 106.0 103.4 112.8 210.7 216.2 Income tax expense (benefit) 4.4 0.3 (23.7 ) 0.3 4.7 (23.4 ) Loss (gain) on disposal of assets, net 5.2 3.4 0.3 (1.4 ) 8.6 (1.1 ) Loss on extinguishment of debt — — — 0.8 — 0.8 Provision for credit losses, net of recoveries 12.8 — — — 12.8 — Stock-based compensation 2.0 1.1 2.9 2.1 3.1 5.0 Lease termination 0.8 — — — 0.8 — Transaction costs 3.3 0.2 — — 3.5 — Severance charges 0.4 — 1.1 0.7 0.4 1.8 Acquisition and integration costs 0.1 0.1 2.9 0.2 0.2 3.1 Supply commitment charges — — — 0.2 — 0.2 Impairment of goodwill — — 67.7 — — 67.7 Gain on insurance recoveries — — (3.2 ) — — (3.2 ) Litigation expenses and accruals for legal contingencies 2.8 1.6 9.2 4.8 4.4 14.0 Loss (gain) on investments, net 10.5 (3.7 ) 1.0 (1.2 ) 6.8 (0.2 ) Adjusted EBITDA $ 78.6 $ 129.5 $ 135.6 $ 159.9 $ 208.1 $ 295.5 Expand ProFrac Holding Corp. (NasdaqGS: ACDC) Segment Information Expand Three Months Ended Six Months Ended June 30, March 31, June 30, March 31, June 30, June 30, Revenues Stimulation services $ 432.0 $ 524.5 $ 505.6 $ 517.3 $ 956.5 $ 1,022.9 Proppant production 77.5 67.3 69.5 77.7 144.8 147.2 Manufacturing 55.8 65.8 55.9 43.5 121.6 99.4 Other 65.0 62.2 47.6 41.7 127.2 89.3 Total segments 630.3 719.8 678.6 680.2 1,350.1 1,358.8 Eliminations (128.4 ) (119.5 ) (99.2 ) (98.7 ) (247.9 ) (197.9 ) Total revenues $ 501.9 $ 600.3 $ 579.4 $ 581.5 $ 1,102.2 $ 1,160.9 Adjusted EBITDA Stimulation services $ 51.1 $ 104.6 $ 107.3 $ 125.2 $ 155.7 $ 232.5 Proppant production 14.8 18.3 25.7 28.4 33.1 54.1 Manufacturing 7.3 4.0 0.1 4.4 11.3 4.5 Other 8.4 7.7 4.4 3.6 16.1 8.0 Total segments 81.6 134.6 137.5 161.6 216.2 299.1 Eliminations (3.0 ) (5.1 ) (1.9 ) (1.7 ) (8.1 ) (3.6 ) Total adjusted EBITDA $ 78.6 $ 129.5 $ 135.6 $ 159.9 $ 208.1 $ 295.5 Expand ProFrac Holding Corp. (NasdaqGS: ACDC) Net Debt Expand June 30, December 31, (In millions) 2025 2024 Current portion of long-term debt $ 131.0 $ 159.6 Current portion of long-term debt— related party 5.0 5.0 Long-term debt 941.9 936.1 Long-term debt — related party 6.3 8.3 Total debt 1,084.2 1,109.0 Plus: unamortized debt discounts, premiums, and issuance costs 25.8 29.9 Total principal amount of debt 1,110.0 1,138.9 Less: cash and cash equivalents (26.0 ) (14.8 ) Net debt $ 1,084.0 $ 1,124.1 Expand ProFrac Holding Corp. (NasdaqGS: ACDC) Free Cash Flow Expand Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, Net cash provided by operating activities $ 100.4 $ 38.7 $ 113.5 $ 139.1 $ 192.6 Investment in property, plant & equipment (46.5 ) (52.5 ) (61.9 ) (99.0 ) (121.8 ) Proceeds from sale of assets 0.5 0.2 22.4 0.7 29.0 Free cash flow $ 54.4 $ (13.6 ) $ 74.0 $ 40.8 $ 99.8 Expand
Android Authority
4 minutes ago
- Android Authority
Google Messages finally fixes a long-standing issue with truncated text
Adamya Sharma / Android Authority TL;DR Google is rolling out a 'More content' button for RCS messages with rich card carousels in its Messages app. The new button will expand rich card carousels into a full-screen, swipeable view to show the complete message, eliminating issues caused by truncated text. The update, currently in open beta, is expected to roll out globally by the end of Q3 2025. Traditional SMS continues to have its use-cases, but texting has now evolved to instant messaging apps and RCS. There's no reason to stay stuck to a 160-character limit on our texts, and RCS helps us remove that ancient and outdated limit from our conversations. The benefits of RCS spill over to messages that businesses send too, but on apps like Google Messages, businesses haven't been properly able to take advantage of rich card carousels since their long messages would get truncated, leaving us as users often confused. Google is now fixing the issues with a 'More content' button, which will soon be added to your RCS conversations on Google Messages. When businesses send a long RCS message to the user, parts of the message text would get cut off on the rich card carousel due to height limitations. Google tried to remedy the situation by making the rich card carousels larger and more readable, but the issue persisted. Rich Card Carousel - Text getting truncated Rich Card Carousel - "Fixed" but text still getting truncated To fix this, Google is now rolling out a 'More content' button whenever more content is available than visible in the rich card carousel. Tapping anywhere in the text area (and not just the More content button) will expand the rich card into a swipeable, full-screen view so that users can see the complete message. This way, users aren't confused about the truncated content, giving us better utility out of the message. For businesses, their entire message is eventually visible to the end user, so critical details or calls to action aren't entirely lost. The full-screen view is currently available in Google Messages Open Beta. Global availability is expected by the end of Q3 2025. Follow
