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Anthropic Sues Pentagon Blacklist

Anthropic has moved its showdown with the Pentagon into court, arguing that the government’s supply-chain risk designation was an unlawful retaliation campaign that jeopardized the AI business.

The suit seeks to void the designation imposed after Anthropic refused to revise Claude’s usage policy to permit what it described as mass surveillance and fully autonomous weapons use. Anthropic said it does not believe Claude would function safely or reliably in those applications.

The Pentagon has denied that it planned to use Claude for those purposes and had previously insisted the company accept “any lawful use” of its tools to support the US military.

You can read more on the matter here.

What’s going on?

• Von der Leyen Unveils Pitch For EU’s Nuclear Return (theDeepDive)

• Canada ‘will not be participating’ in Iran war, defence minister says (Global)

• Canada and Mexico Set May Trade Talks as USMCA Uncertainty Looms Under Trump (theDeepDive)

• February Home Sales Rose After Mortgage Rates Eased (WSJ)

• Ottawa Drops TikTok Shutdown Order With Conditions (theDeepDive)

• Russia told Trump it has not shared intelligence with Iran during war, Witkoff says (CNBC)

• Trump Advisers Push for Iran Diplomacy Amid Fears of Political Backlash (theDeepDive)

• G7 energy ministers ask IEA to examine need for release of strategic oil reserves (Globe)

• Trump Declares Iran War ‘Pretty Much Complete’ as Stock Markets Rally (theDeepDive)

What’s the latest?

• Oil: Oil prices plunged after Trump suggested the Iran war could end soon: Brent −12.6% to $86.50 and WTI −12.9% to $82.53, after both had surged above $119/barrel the day before. Markets eased as expectations of prolonged supply disruption fell, though 1.9M barrels/day of refining capacity remain offline and shipping risks in the Strait of Hormuz persist. Analysts warn supply recovery could take weeks, with potential losses of up to 12M bpd if disruptions continue.

• Commodities: China refines ~90% of global battery-grade graphite, creating a weak link in Canada’s EV supply chain. Nouveau Monde Graphite secured deals to supply 13,000 tonnes/year of anode material to Panasonic and 18,000 tonnes/year to GM, alongside a US$25M Panasonic investment. Canada holds the 10th-largest graphite reserves, and the Matawinie project targets 106,000 tonnes/year with production planned for 2028–2029. Government-backed funding aims to reduce dependence on Chinese processing and build a domestic battery supply chain.

• Real Estate: U.S. existing home sales rose 1.7% in February to 4.09M annualized units, but remain 1.4% lower year-over-year. Inventory reached 1.29M homes (+4.9% YoY), equal to a 3.8-month supply, still below the 6-month balanced level. The median home price was $398,000 (+0.3% YoY), while homes took 47 days to sell. First-time buyers accounted for 34% of purchases, and investors 16%.

• Markets: U.S. stocks edged higher as oil volatility dominated markets: S&P 500 +0.3%, Dow +210 points (+0.4%), Nasdaq +0.6%. Brent crude was about $89.42 and WTI $84.64, after dropping from nearly $120/barrel amid hopes the Iran war could end soon. About 20% of global oil flows through the Strait of Hormuz, keeping markets sensitive to any escalation. The 10-year U.S. Treasury yield slipped to 4.11% as investors awaited further developments.

• Politics: Russia denied sharing intelligence with Iran about U.S. military assets during a ~1-hour call between President Donald Trump and Vladimir Putin on Monday. The denial was repeated in a separate call with U.S. envoy Steve Witkoff, Jared Kushner, and Kremlin adviser Yuri Ushakov. The statements follow media reports citing 2 U.S. officials claiming Russia may have provided Iran with targeting information on U.S. ships and aircraft in the Middle East.

Why Uranium Could Still Have 70% to Run

The stock market and stuff

• Aramco Warns of Catastrophic Fallout from Hormuz Crisis as Pipeline Nears Full Capacity (theDeepDive)

• Opec+ Slashes Output by Up to 6.9 Million Barrels as Hormuz Blockade Bites (theDeepDive)

• Amazon leads record US corporate borrowing rush with $40bn bond sales (FT)

• Lundin Mining Expands Chilean Copper Footprint with US$215 Million Acquisition (theDeepDive)

In the juniors

• Goliath Resources Secures 100% Ownership of Golddigger Property in BC’s Golden Triangle (theDeepDive)

• Mercado Minerals Launches Inaugural Drill Program at Copalito Project (theDeepDive)

• PTX Metals Reports 213 Meters Of Mineralization In Latest Drill Hole At W2 Project (theDeepDive)

• Could Silver Stay This High? | Joaquín Marias – Argenta Silver (theDeepDive)

FULL DISCLOSURE: Cardiol Therapeutics is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cardiol Therapeutics. The author has been compensated to cover Cardiol Therapeutics on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.