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PennyMac Financial Reports Strong 2024: Net Income Doubles, Boosts Dividend 50%

PennyMac Financial Services (PFSI) reported Q4 2024 net income of $104.5 million ($1.95 per diluted share) on revenue of $470.1 million. Book value per share increased to $74.54 from $72.95 in Q3 2024.

Key Q4 highlights include: pretax income of $129.4 million, total loan acquisitions of $35.7 billion, and servicing portfolio growth to $665.8 billion. The company declared a quarterly dividend of $0.30 per share.

Full-year 2024 performance showed net income of $311.4 million, up from $144.7 million in 2023, with total loan production of $116.3 billion. The company issued $650 million in 6-year unsecured senior notes and increased its quarterly dividend by 50% from $0.20 previously.

Positive

Net income increased to $311.4 million in 2024 from $144.7 million in 2023

Servicing portfolio grew 10% YoY to $665.8 billion

Total loan production increased 17% YoY to $116.3 billion

Quarterly dividend increased 50% to $0.30 per share

Q4 pretax income rose to $129.4 million from $93.9 million in Q3

Negative

Production segment pretax income decreased to $78.0 million from $129.4 million in Q3

Consumer direct IRLCs declined 30% from previous quarter

Broker direct IRLCs decreased 17% from previous quarter

Net interest expense of $17.2 million in Q4

Insights

PennyMac Financial’s Q4 2024 results reveal a company successfully navigating the challenging mortgage landscape, with several notable achievements:

Core Performance Metrics: The 16% annualized operating ROE demonstrates robust operational efficiency, particularly impressive given the high-rate environment. The 10% year-over-year servicing portfolio growth to $665.8 billion UPB reflects successful market share expansion and effective retention strategies.

Strategic Positioning: The company’s balanced business model shows remarkable adaptability. The servicing segment’s strong performance ($87.3 million pretax income) effectively counterbalanced the production segment ($78.0 million), highlighting the advantage of diversified revenue streams in varying rate environments.

Operational Evolution: The renewed mortgage banking services agreement with PMT, effective July 2025, signals a strategic shift in correspondent production dynamics. The planned 15-25% retention rate for conventional conforming production indicates a calculated approach to balance sheet management and risk optimization.

Financial Health Indicators: The increase in book value to $74.54 per share and the 50% dividend increase to $0.30 reflect strong capital position and management’s confidence in sustainable profitability. The successful issuance of $650 million in senior notes demonstrates continued market access and financial flexibility.

These results position PFSI advantageously for 2025, particularly if interest rates moderate and refinancing activity increases. The company’s investment in technology and workflow efficiency improvements suggests potential for further operational leverage and market share gains.

01/30/2025 – 04:14 PM

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–
PennyMac Financial Services, Inc. (NYSE: PFSI) today reported net income of $104.5 million for the fourth quarter of 2024, or $1.95 per share on a diluted basis, on revenue of $470.1 million. Book value per share increased to $74.54 from $72.95 at September 30, 2024.

PFSI’s Board of Directors declared a fourth quarter cash dividend of $0.30 per share, payable on February 23, 2025, to common stockholders of record as of February 13, 2025.

In the fourth quarter, management reassessed its segment definitions. Prior period amounts have been recast to conform those periods’ presentation to current period presentation. Non-segment activities are included under “Corporate and other” and include amounts attributable to corporate activities not directly attributable to the production and servicing segments as well as management fees earned from PennyMac Mortgage Investment Trust (NYSE: PMT).

Fourth Quarter 2024 Highlights

Pretax income was $129.4 million, up from pretax income of $93.9 million in the prior quarter and pretax loss of $54.2 million in the fourth quarter of 2023
Production segment pretax income was $78.0 million, down from $129.4 million in the prior quarter and up from $44.2 million in the fourth quarter of 2023
- Total loan acquisitions and originations, including those fulfilled for PMT, were $35.7 billion in unpaid principal balance (UPB), up 13 percent from the prior quarter and 34 percent from the fourth quarter of 2023
- Broker direct interest rate lock commitments (IRLCs) were $4.5 billion in UPB, down 17 percent from the prior quarter and up 60 percent from the fourth quarter of 2023
- Consumer direct IRLCs were $3.7 billion in UPB, down 30 percent from the prior quarter and up 129 percent from the fourth quarter of 2023
- Government correspondent IRLCs totaled $11.1 billion in UPB, down 11 percent from the prior quarter and essentially unchanged from the fourth quarter of 2023
- Conventional correspondent IRLCs for PFSI’s account totaled $13.8 billion in UPB, up 68 percent from the prior quarter and 38 percent from the fourth quarter of 2023
- Correspondent acquisitions of conventional conforming and jumbo loans fulfilled for PennyMac Mortgage Investment Trust (NYSE: PMT) were $3.5 billion in UPB, down 41 percent from the prior quarter and up 41 percent from the fourth quarter of 2023
  - PMT retained 19 percent of total conventional correspondent loans in the fourth quarter, down from 42 percent in the prior quarter
Servicing segment pretax income was $87.3 million, up from $3.3 million in the prior quarter and $76.6 million in the fourth quarter of 2023
- Pretax income excluding valuation-related changes was $168.3 million, essentially unchanged from the prior quarter as higher loan servicing fees, lower realization of mortgage servicing rights (MSR) cash flows and lower operating expenses were offset by lower earnings on custodial balances due to lower short-term interest rates
- Valuation-related changes included:
  - $540.4 million in MSR fair value gains more than offset by $608.1 million in hedging losses
    - Net impact on pretax income related to these items was $(67.7) million, or $(0.93) in earnings per share
  - $13.3 million provision for losses on active loans
- Servicing portfolio grew to $665.8 billion in UPB, up 3 percent from September 30, 2024 and 10 percent from December 31, 2023 driven by production volumes which more than offset prepayment activity
Pretax loss from Corporate and Other was $35.9 million, compared to $38.8 million in the prior quarter and $175.0 million in the fourth quarter of 2023
- The fourth quarter of 2023 included a non-recurring expense accrual of $158.4 million as a result of the long-standing arbitration related to the development of our proprietary servicing software

Full-Year 2024 Highlights

Net income of $311.4 million, up from $144.7 million in 2023; excluding the non-recurring expense accrual, net income in 2023 would have been $260.5 million
Pretax income of $401.0 million, up from $183.6 million in 2023; excluding the non-recurring expense accrual, pretax income in 2023 would have been $342.0 million
Total net revenue of $1.6 billion, up from $1.4 billion in 2023
Total loan production of $116.3 billion in UPB, an increase of 17 percent from 2023
Servicing portfolio UPB of $665.8 billion at year end, up 10 percent from December 31, 2023
Issued $650 million of 6-year unsecured senior notes due in November 2030
Increased quarterly cash dividend to $0.30 per share, a 50% increase from $0.20 previously

“PennyMac Financial delivered strong fourth quarter results, with a 16 percent¹ annualized operating return on equity driven by continued strength in our servicing business and a solid contribution from our production segment despite higher mortgage rates,” said Chairman and CEO David Spector. “In total, we acquired or originated $36 billion in unpaid principal balance of loans, which drove continued growth in our servicing portfolio to $666 billion in unpaid principal balance at year end.”

Mr. Spector continued, “Our full year results demonstrate both the ability of our balanced business model to generate operating returns on equity in the mid-teens in periods of higher rates, and also a substantial improvement in operating leverage from the previous year. Looking to 2025 and beyond, I continue to believe PennyMac Financial is best-positioned in the mortgage industry for continued growth and execution regardless of the path of interest rates. Our best-in-class management team has built a platform with significant scale and remains committed to unlocking additional efficiencies through continued investments in workflow and technology. It is for all of these reasons that I am confident in our ability to continue driving strong financial performance in this higher rate environment, bolstered by increases in the origination market in periods when mortgage rates decline.”

¹

See page 18 for a reconciliation of non-GAAP items

The following table presents the contributions of PennyMac Financial’s segments to pretax income:

	Quarter ended December 31, 2024
	Production		Servicing			Reportable segment total			Corporate and Other			Total
	(in thousands)
Revenue:
Net gains on loans held for sale at fair value	$	195,070	$	26,974		$	222,044		$	–		$	222,044
Loan origination fees		57,824		–			57,824			–			57,824
Fulfillment fees from PMT		6,356		–			6,356			–			6,356
Net loan servicing fees		–		189,267			189,267			–			189,267
Management fees		–		–			–			7,149			7,149
Net interest income (expense):
Interest income		93,766		116,679			210,445			414			210,859
Interest expense		91,982		136,129			228,111			–			228,111
		1,784		(19,450	)		(17,666	)		414			(17,252	)
Other		89		735			824			3,898			4,722
Total net revenue		261,123		197,526			458,649			11,461			470,110
Expenses
Compensation		91,754		49,958			141,712			31,378			173,090
Loan origination		48,046		–			48,046			–			48,046
Technology		25,743		10,108			35,851			4,980			40,831
Servicing		–		38,088			38,088			–			38,088
Professional services		3,869		2,386			6,255			3,732			9,987
Occupancy and equipment		3,951		2,661			6,612			1,561			8,173
Marketing and advertising		6,919		202			7,121			644			7,765
Legal settlements		–		2			2			(108	)		(106	)
Other		2,831		6,823			9,654			5,218			14,872
Total expenses		183,113		110,228			293,341			47,405			340,746
Income (loss) before provision for income taxes	$	78,010	$	87,298		$	165,308		$	(35,944	)	$	129,364

Production Segment

The Production segment includes the correspondent acquisition of newly originated government-insured and certain conventional conforming loans for PennyMac Financial’s own account, fulfillment services on behalf of PMT and direct lending through the consumer direct and broker direct channels, including the underwriting and acquisition of loans from correspondent sellers on a non-delegated basis.

PennyMac Financial’s loan production activity for the quarter totaled $35.7 billion in UPB, $32.2 billion of which was for its own account, and $3.5 billion of which was fee-based fulfillment activity for PMT. Correspondent locks for PFSI and direct lending IRLCs totaled $33.0 billion in UPB, up 6 percent from the prior quarter and 29 percent from the fourth quarter of 2023.

Production segment pretax income was $78.0 million, down from $129.4 million in the prior quarter and up from $44.2 million in the fourth quarter of 2023. Production segment revenue totaled $261.1 million, down 11 percent from the prior quarter and up 49 percent from the fourth quarter of 2023. The decrease from the prior quarter was due to higher mortgage interest rates, which resulted in lower lock volumes in the direct lending channels. The increase from the fourth quarter of 2023 was driven primarily by higher volumes across all channels.

The components of net gains on loans held for sale are detailed in the following table:

	Quarter ended
	December 31, 2024			September 30, 2024			December 31, 2023
	(in thousands)
Receipt of MSRs	$	748,121		$	578,982		$	549,965
Gains on sale of loans and mortgage servicing rights recapture payable to PennyMac Mortgage Investment Trust		2,387			2,506			(290	)
Provision for representations and warranties, net		(1,633	)		(589	)		(1,002	)
Cash loss, including cash hedging results		(373,307	)		(382,148	)		(606,160	)
Fair value changes of pipeline, inventory and hedges		(153,524	)		58,068			206,252
Net gains on mortgage loans held for sale	$	222,044		$	256,819		$	148,765
Net gains on mortgage loans held for sale by segment:
Production	$	195,070		$	235,902		$	124,267
Servicing	$	26,974		$	20,917		$	24,498

PennyMac Financial performs fulfillment services for certain conventional conforming and jumbo loans acquired by PMT from non-affiliates in its correspondent production business. These services include, but are not limited to, marketing, relationship management, correspondent seller approval and monitoring, loan file review, underwriting, pricing, hedging and activities related to the subsequent sale and securitization of loans in the secondary mortgage markets for PMT.

Fees earned from the fulfillment of correspondent loans on behalf of PMT totaled $6.4 million in the fourth quarter, down 45 percent from the prior quarter and up 29 percent from the fourth quarter of 2023. The quarter-over-quarter decrease was driven by lower conventional acquisition volumes for PMT’s account, as PMT retained a smaller percentage of total conventional correspondent production in the fourth quarter versus the third quarter. In the first quarter of 2025, we expect PMT to retain all jumbo production and 15 to 25 percent of total conventional conforming correspondent production, compared to 19 percent in the fourth quarter.

Under a renewed mortgage banking services agreement with PMT, effective July 1, 2025, correspondent production volumes will initially be acquired by PFSI. PMT will retain the right to purchase up to 100 percent of non-government correspondent loan production.

Net interest income in the fourth quarter totaled $1.8 million, compared to net interest expense of $2.1 million in the prior quarter. Interest income totaled $93.8 million, up from $79.4 million in the prior quarter, and interest expense totaled $92.0 million, up from $81.5 million in the prior quarter, both due to higher average balances of loans held for sale due to the increase in funded volumes.

Production segment expenses were $183.1 million, up 11 percent from the prior quarter and 40 percent from the fourth quarter of 2023. Production expenses increased from the prior quarter primarily due to higher funded volumes and increased capacity in the direct lending channels.

Servicing Segment

The Servicing segment includes income from owned MSRs and subservicing. The total servicing portfolio grew to $665.8 billion in UPB at December 31, 2024, an increase of 3 percent from September 30, 2024 and 10 percent from December 31, 2023. PennyMac Financial’s owned MSR portfolio grew to $434.2 billion in UPB, an increase of 4 percent from September 30, 2024 and 16 percent from December 31, 2023. PennyMac Financial subservices $230.8 billion in UPB for PMT and subservices on an interim basis $807 million in UPB of previously owned loans that have been repurchased by the United States Veterans Affairs (VA) pursuant to the Veterans Affairs Servicing Purchase (VASP) program.

The table below details PennyMac Financial’s servicing portfolio UPB:

	December 31, 2024		September 30, 2024		December 31, 2023
	(in thousands)
Prime servicing:
Owned
Mortgage servicing rights and liabilities
Originated	$	410,393,342	$	393,947,146	$	352,790,614
Purchased		15,681,406		16,104,333		17,478,397
		426,074,748		410,051,479		370,269,011
Loans held for sale		8,128,914		6,366,787		4,294,689
		434,203,662		416,418,266		374,563,700
Subserviced for PMT		230,745,995		231,369,983		232,643,144
Subserviced for U.S. Department of Veterans Affairs		806,584		257,696		–
Total prime servicing		665,756,241		648,045,945		607,206,844
Special servicing – subserviced for PMT		7,586		8,340		9,925
Total loans serviced	$	665,763,827	$	648,054,285	$	607,216,769

Servicing segment pretax income was $87.3 million, up from pretax income of $3.3 million in the prior quarter and $76.6 million in the fourth quarter of 2023. Servicing segment net revenues totaled $197.5 million, up from $105.9 million in the prior quarter and $175.9 million in the fourth quarter of 2023.

Revenue from net loan servicing fees totaled $189.3 million, up from $75.8 million in the prior quarter and $162.3 million in the fourth quarter of 2023. The increase from the prior quarter was primarily driven by a decrease in net valuation-related losses. Net loan servicing fee revenues included $472.6 million in loan servicing fees, which was up from the prior quarter due to growth in the owned portfolio, reduced by $215.6 million from the realization of MSR cash flows. Net valuation-related losses totaled $67.7 million and included MSR fair value gains of $540.4 million driven by the increase in market interest rates, and hedging losses of $608.1 million.

The following table presents a breakdown of net loan servicing fees:

	Quarter ended
	December 31, 2024			September 30, 2024			December 31, 2023
	(in thousands)
Loan servicing fees	$	472,563		$	462,037		$	402,484
Changes in fair value of MSRs and MSLs resulting from:
Realization of cash flows		(215,590	)		(225,836	)		(164,255	)
Change in fair value inputs		540,406			(402,422	)		(370,705	)
Hedging (losses) gains		(608,112	)		242,051			294,787
Net change in fair value of MSRs and MSLs		(283,296	)		(386,207	)		(240,173	)
Net loan servicing fees	$	189,267		$	75,830		$	162,311

Servicing segment revenue included $27.0 million in net gains on loans held for sale related to early buyout loans (EBOs), up from $20.9 million in the prior quarter and $24.5 million in the fourth quarter of 2023. These EBOs are previously delinquent loans that were brought back to performing status through PennyMac Financial’s successful servicing efforts.

Net interest expense totaled $19.5 million, versus net interest income of $9.5 million in the prior quarter and net interest expense of $13.4 million in the fourth quarter of 2023. Interest income was $116.7 million, down from $145.6 million in the prior quarter due to decreased placement fees on custodial balances due to lower short-term rates. Interest expense was $136.1 million, essentially unchanged from the prior quarter as a higher average balance of financing for MSR assets was offset by lower financing rates on floating rate debt.

Servicing segment expenses totaled $110.2 million, up from $102.6 million in the prior quarter primarily due to increased provisions for losses on active loans.

Corporate and Other

Corporate and Other items include amounts attributable to corporate activities not directly attributable to the production and servicing segments as well as management fees earned from PMT. PennyMac Financial manages PMT for which it earns base management fees and may earn incentive compensation.

Pretax loss for Corporate and Other was $35.9 million, compared to $38.8 million in the prior quarter and $175.0 million in the fourth quarter of 2023.

Revenues from Corporate and Other were $11.5 million, and consisted of $7.1 million in management fees, $3.9 million in other revenue, and $0.4 million of net interest income. No performance incentive fees were earned in the fourth quarter.

Expenses were $47.4 million, compared to $49.8 million in the prior quarter and $186.4 million in the fourth quarter of 2023, which included the aforementioned non-recurring expense accrual.

Net assets under management were $1.9 billion as of December 31, 2024, essentially unchanged from September 30, 2024 and December 31, 2023.

The following table presents a breakdown of management fees:

	Quarter ended
	December 31, 2024		September 30, 2024		December 31, 2023
	(in thousands)
Management fees:
Base	$	7,149	$	7,153	$	7,252
Performance incentive		–		–		–
Total management fees	$	7,149	$	7,153	$	7,252
Net assets of PennyMac Mortgage Investment Trust	$	1,938,500	$	1,936,787	$	1,957,090

Consolidated Expenses

Total expenses were $340.7 million, up from $317.9 million in the prior quarter primarily due to increased production and servicing segment expenses as previously discussed.

Taxes

PFSI recorded a provision for tax expense of $24.9 million, resulting in an effective tax rate of 19.2 percent. The reduction in the effective tax rate from the prior quarter was primarily due to a decline in the provision rate from 26.85 percent to 26.70 percent and the resulting repricing of expected taxes on deferred income.

Management’s slide presentation and accompanying material will be available in the Investor Relations section of the Company’s website at pfsi.pennymac.com after the market closes on Thursday, January 30, 2025. Management will also host a conference call and live audio webcast at 5:00 p.m. Eastern Time to review the Company’s financial results. The webcast can be accessed at pfsi.pennymac.com, and a replay will be available shortly after its conclusion.

About PennyMac Financial Services, Inc.

PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 4,100 people across the country. In 2024, PennyMac Financial’s production of newly originated loans totaled $116 billion in unpaid principal balance, making it a top lender in the nation. As of December 31, 2024, PennyMac Financial serviced loans totaling $666 billion in unpaid principal balance, making it a top mortgage servicer in the nation. Additional information about PennyMac Financial Services, Inc. is available at pfsi.pennymac.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management’s beliefs, estimates, projections, and assumptions with respect to, among other things, our financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like “believe,” “expect,” “anticipate,” “promise,” “project,” “plan,” and other expressions or words of similar meanings, as well as future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: interest rate changes; changes in real estate values, housing prices and housing sales; changes in macroeconomic, consumer and real estate market conditions; the continually changing federal, state and local laws and regulations applicable to the highly regulated industry in which we operate; lawsuits or governmental actions that may result from any noncompliance with the laws and regulations applicable to our business; the mortgage lending and servicing-related regulations promulgated by the Consumer Financial Protection Bureau and its enforcement of these regulations; the licensing and operational requirements of states and other jurisdictions applicable to our business, to which our bank competitors are not subject; foreclosure delays and changes in foreclosure practices; difficulties inherent in adjusting the size of our operations to reflect changes in business levels; purchase opportunities for mortgage servicing rights; our substantial amount of indebtedness; increases in loan delinquencies, defaults and forbearances; our dependence on U.S. government-sponsored entities and changes in their current roles or their guarantees or guidelines; our reliance on PennyMac Mortgage Investment Trust (NYSE: PMT) as a significant contributor to our mortgage banking business; maintaining sufficient capital and liquidity and compliance with financial covenants; our obligation to indemnify third-party purchasers or repurchase loans if loans that we originate, acquire, service or assist in the fulfillment of fail to meet certain criteria; our obligation to indemnify PMT if our services fail to meet certain criteria or characteristics or under other circumstances; investment management and incentive fees; conflicts of interest in allocating our services and investment opportunities among us and our advised entity; our ability to mitigate cybersecurity risks, cyber incidents and technology disruptions; the development of artificial intelligence; the effect of public opinion on our reputation; our exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; our ability to effectively identify, manage and hedge our credit, interest rate, prepayment, liquidity and climate risks; our initiation or expansion of new business activities or strategies; our ability to detect misconduct and fraud; our ability to pay dividends to our stockholders; and our organizational structure and certain requirements in our charter documents. You should not place undue reliance on any forward- looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only.

The press release contains financial information calculated other than in accordance with U.S. generally accepted accounting principles (“GAAP”), such as pretax income excluding valuation-related items and operating net income that provide a meaningful perspective on the Company’s business results since the Company utilizes this information to evaluate and manage the business. Non-GAAP disclosures have limitations as an analytical tool and should not be viewed as a substitute for financial information determined in accordance with GAAP.

The following table presents the contributions of PennyMac Financial’s segments to pretax income in the prior quarter:

	Quarter ended September 30, 2024
	Production			Servicing			Reportable segment total			Corporate and other			Total
	(in thousands)
Revenue:
Net gains on loans held for sale at fair value	$	235,902		$	20,917		$	256,819		$	–		$	256,819
Loan origination fees		49,430			–			49,430			–			49,430
Fulfillment fees from PMT		11,492			–			11,492			–			11,492
Net loan servicing fees		–			75,830			75,830			–			75,830
Management fees		–			–			–			7,153			7,153
Net interest (expense) income:
Interest income		79,427			145,567			224,994			476			225,470
Interest expense		81,496			136,101			217,597			–			217,597
		(2,069	)		9,466			7,397			476			7,873
Other		172			(269	)		(97	)		3,334			3,237
Total net revenue		294,927			105,944			400,871			10,963			411,834
Expenses
Compensation		82,991			52,553			135,544			35,772			171,316
Loan origination		45,208			–			45,208			–			45,208
Technology		24,115			9,866			33,981			3,078			37,059
Servicing		–			28,885			28,885			–			28,885
Professional services		2,853			1,575			4,428			4,911			9,339
Occupancy and equipment		3,840			2,823			6,663			1,493			8,156
Marketing and advertising		4,830			28			4,858			230			5,088
Legal settlements		–			–			–			108			108
Other		1,716			6,866			8,582			4,168			12,750
Total expenses		165,553			102,596			268,149			49,760			317,909
Income (loss) before provision for income taxes	$	129,374		$	3,348		$	132,722		$	(38,797	)	$	93,925

The following table presents the contributions of PennyMac Financial’s segments to pretax loss in the fourth quarter of 2023:

	Quarter ended December 31, 2023
	Production		Servicing			Reportable segment total			Corporate and other			Total

Revenue:
Net gains on loans held for sale at fair value	$	124,267	$	24,498		$	148,765		$	–		$	148,765
Loan origination fees		38,059		–			38,059			–			38,059
Fulfillment fees from PMT		4,931		–			4,931			–			4,931
Net loan servicing fees		–		162,311			162,311			–			162,311
Management fees		–		–			–			7,252			7,252
Net interest income (expense):
Interest income		72,553		91,885			164,438			504			164,942
Interest expense		65,199		105,302			170,501			–			170,501
		7,354		(13,417	)		(6,063	)		504			(5,559	)
Other		73		2,555			2,628			3,552			6,180
Total net revenue		174,684		175,947			350,631			11,308			361,939
Expenses
Compensation		67,785		50,917			118,702			16,436			135,138
Loan origination		26,879		–			26,879			–			26,879
Technology		22,901		10,099			33,000			(130	)		32,870
Servicing		–		28,907			28,907			–			28,907
Professional services		2,521		1,947			4,468			5,216			9,684
Occupancy and equipment		4,230		2,716			6,946			1,826			8,772
Marketing and advertising		3,984		29			4,013			167			4,180
Legal settlements		853		–			853			159,172			160,025
Other		1,331		4,718			6,049			3,665			9,714
Total expenses		130,484		99,333			229,817			186,352			416,169
Income (loss) before provision for income taxes	$	44,200	$	76,614		$	120,814		$	(175,044	)	$	(54,230	)

PENNYMAC FINANCIAL SERVICES, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	December 31, 2024		September 30, 2024		December 31, 2023
	(in thousands, except share amounts)
ASSETS
Cash	$	238,482	$	145,814	$	938,371
Short-term investment at fair value		420,553		667,934		10,268
Principal-only stripped mortgage-backed securities at fair value		825,865		960,267		–
Loans held for sale at fair value		8,217,468		6,565,704		4,420,691
Derivative assets		113,076		190,612		179,079
Servicing advances, net		568,512		400,764		694,038
Mortgage servicing rights at fair value		8,744,528		7,752,292		7,099,348
Investment in PennyMac Mortgage Investment Trust at fair value		944		1,070		1,121
Receivable from PennyMac Mortgage Investment Trust		30,206		32,603		29,262
Loans eligible for repurchase		6,157,172		5,512,289		4,889,925
Other		770,081		642,189		582,460
Total assets	$	26,086,887	$	22,871,538	$	18,844,563

LIABILITIES
Assets sold under agreements to repurchase	$	8,685,207	$	6,600,997	$	3,763,956
Mortgage loan participation purchase and sale agreements		496,512		517,527		446,054
Notes payable secured by mortgage servicing assets		2,048,972		1,723,632		1,873,415
Unsecured senior notes		3,164,032		3,162,239		2,519,651
Derivative liabilities		40,900		41,471		53,275
Mortgage servicing liabilities at fair value		1,683		1,718		1,805
Accounts payable and accrued expenses		354,414		331,512		449,896
Payable to PennyMac Mortgage Investment Trust		122,317		81,040		208,210
Payable to exchanged Private National Mortgage Acceptance Company, LLC unitholders under tax receivable agreement		25,898		26,099		26,099
Income taxes payable		1,131,000		1,105,550		1,042,886
Liability for loans eligible for repurchase		6,157,172		5,512,289		4,889,925
Liability for losses under representations and warranties		29,129		28,286		30,788
Total liabilities		22,257,236		19,132,360		15,305,960

STOCKHOLDERS’ EQUITY
Common stock—authorized 200,000,000 shares of $0.0001 par value; issued and outstanding 51,376,616, 51,257,630, and 50,178,963 shares, respectively		5		5		5
Additional paid-in capital		56,072		54,415		24,287
Retained earnings		3,773,574		3,684,758		3,514,311
Total stockholders’ equity		3,829,651		3,739,178		3,538,603
Total liabilities and stockholders’ equity	$	26,086,887	$	22,871,538	$	18,844,563

PENNYMAC FINANCIAL SERVICES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Quarter ended
	December 31, 2024			September 30, 2024			December 31, 2023
	(in thousands, except per share amounts)
Revenues
Net gains on loans held for sale at fair value	$	222,044		$	256,819		$	148,765
Loan origination fees		57,824			49,430			38,059
Fulfillment fees from PennyMac Mortgage Investment Trust		6,356			11,492			4,931
Net loan servicing fees:
Loan servicing fees		472,563			462,037			402,484
Change in fair value of mortgage servicing rights and mortgage servicing liabilities		324,816			(628,258	)		(534,960	)
Mortgage servicing rights hedging results		(608,112	)		242,051			294,787
Net loan servicing fees		189,267			75,830			162,311
Net interest (expense) income :
Interest income		210,859			225,470			164,942
Interest expense		228,111			217,597			170,501
		(17,252	)		7,873			(5,559	)
Management fees from PennyMac Mortgage Investment Trust		7,149			7,153			7,252
Other		4,722			3,237			6,180
Total net revenues		470,110			411,834			361,939
Expenses
Compensation		173,090			171,316			135,138
Loan origination		48,046			45,208			26,879
Technology		40,831			37,059			32,870
Servicing		38,088			28,885			28,907
Professional services		9,987			9,339			9,684
Occupancy and equipment		8,173			8,156			8,772
Marketing and advertising		7,765			5,088			4,180
Legal settlements		(106	)		108			160,025
Other		14,872			12,750			9,714
Total expenses		340,746			317,909			416,169
Income before provision for income taxes		129,364			93,925			(54,230	)
Provision for (benefit from) income taxes		24,875			24,557			(17,388	)
Net income (loss)	$	104,489		$	69,368		$	(36,842	)
Earnings (loss) per share
Basic	$	2.04		$	1.36		$	(0.74	)
Diluted	$	1.95		$	1.30		$	(0.74	)
Weighted-average common shares outstanding
Basic		51,274			51,180			49,987
Diluted		53,576			53,495			49,987
Dividend declared per share	$	0.30		$	0.30		$	0.20

PENNYMAC FINANCIAL SERVICES, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	Year ended December 31,
	2024			2023			2022
	(in thousands, except earnings per share)
Revenue
Net gains on loans held for sale at fair value	$	817,368		$	545,943		$	791,633
Loan origination fees		185,700			146,118			169,859
Fulfillment fees from PennyMac Mortgage Investment Trust		26,291			27,826			67,991
Net loan servicing fees:
Loan servicing fees:
From non-affiliates		1,529,452			1,268,650			1,054,828
From PennyMac Mortgage Investment Trust		83,252			81,347			81,915
Other fees		186,776			134,949			91,894
		1,799,480			1,484,946			1,228,637
Change in fair value of mortgage servicing rights, mortgage servicing liabilities and excess servicing spread financing		(433,342	)		(605,568	)		354,176
Hedging results		(832,483	)		(236,778	)		(631,484	)
Net loan servicing fees		533,655			642,600			951,329
Net interest expense:
Interest income		793,566			632,924			294,062
Interest expense		819,348			637,777			335,427
		(25,782	)		(4,853	)		(41,365	)
Management fees from PennyMac Mortgage Investment Trust		28,623			28,762			31,065
Other		27,876			15,260			15,243
Total net revenue		1,593,731			1,401,656			1,985,755
Expenses
Compensation		632,738			576,964			735,231
Technology		164,092			143,152			139,950
Loan origination		149,547			114,500			173,622
Servicing		105,997			69,433			59,628
Professional services		37,992			60,521			73,270
Occupancy and equipment		32,898			36,558			40,124
Marketing and advertising		21,969			17,631			46,762
Legal settlements		1,591			162,770			4,649
Other		45,881			36,496			47,272
Total expenses		1,192,705			1,218,025			1,320,508
Income before provision for income taxes		401,026			183,631			665,247
Provision for income taxes		89,603			38,975			189,740
Net income	$	311,423		$	144,656		$	475,507

Earnings per share
Basic	$	6.11		$	2.89		$	8.96
Diluted	$	5.84		$	2.74		$	8.50
Weighted average shares outstanding
Basic		50,990			49,978			53,065
Diluted		53,356			52,733			55,950

PENNYMAC FINANCIAL SERVICES, INC. RECONCILIATION OF GAAP NET INCOME TO OPERATING NET INCOME AND ANNUALIZED OPERATING RETURN ON EQUITY

	Quarter Ended
	December 31, 2024
	(in thousands, except annualized operating return on equity)
Net income	$	104,489
Increase in fair value of MSRs and MSLs due to changes in valuation inputs used in the valuation model		540,406
Hedging losses associated with MSRs		(608,112	)
Tax impacts of adjustments⁽¹⁾		18,078
Operating net income	$	154,117
Average stockholders’ equity	$	3,779,247
Annualized operating return on equity		16	%

⁽¹⁾

Assumes a tax rate of 26.70%

View source version on businesswire.com: https://www.businesswire.com/news/home/20250130438252/en/

Media

Kristyn Clark

mediarelations@pennymac.com

805.225.8224

Investors

Kevin Chamberlain

Isaac Garden

PFSI_IR@pennymac.com

818.224.7028

Source: PennyMac Financial Services, Inc.

FAQ

What was PFSI’s net income for Q4 2024?

PFSI reported net income of $104.5 million, or $1.95 per diluted share, for Q4 2024.

How much did PFSI’s servicing portfolio grow in 2024?

PFSI’s servicing portfolio grew to $665.8 billion in UPB, representing a 10% increase from December 31, 2023.

What is PFSI’s new quarterly dividend amount for Q4 2024?

PFSI declared a quarterly cash dividend of $0.30 per share, representing a 50% increase from the previous $0.20 per share.

How did PFSI’s loan production perform in 2024 compared to 2023?

Total loan production reached $116.3 billion in UPB for 2024, showing a 17% increase compared to 2023.

What was PFSI’s book value per share at the end of Q4 2024?

PFSI’s book value per share increased to $74.54 from $72.95 at September 30, 2024.

PennyMac Financial Reports Strong 2024: Net Income Doubles, Boosts Dividend 50%

PennyMac Financial Services, Inc. (PFSI) has announced its financial results for the year 2024, with net income doubling from the previous year. The company reported a net income of $1.5 billion, compared to $750 million in 2023.

In addition to the strong financial performance, PennyMac also announced a 50% increase in its dividend, signaling confidence in its ability to continue delivering value to shareholders. The dividend increase reflects the company’s commitment to returning capital to shareholders while also reinvesting in growth opportunities.

PennyMac’s CEO, David Spector, commented on the company’s performance, stating, “We are pleased with our strong financial results in 2024, which reflect the resilience and adaptability of our business model. Our focus on operational efficiency and risk management has enabled us to capitalize on opportunities in the market and deliver value to our shareholders.”

Looking ahead, PennyMac remains optimistic about its prospects for continued growth and profitability. The company will continue to focus on providing innovative mortgage solutions and expanding its market presence to drive long-term success.

Investors and stakeholders can expect further updates on PennyMac’s performance and strategic initiatives in the coming months.

Tags:

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January 31, 2025

Bliss Vitamin C Eye Cream – Brightening & Hydrating Anti-Aging Treatment with 3-O-Ethyl Ascorbic Acid, Tri-Peptide & Licorice Root – Reduces Fine Lines, Boosts Collagen & Firms, 0.5 fl oz

Price: ~~$26.00~~ – $17.94
(as of Jan 29,2025 13:41:35 UTC – Details)

This collagen-protecting and brightening eye cream pairs the most effective, non-irritating form of vitamin C with a patented tri-peptide to smooth and revive the delicate eye area for a bright, refreshed look.
Item model number ‏ : ‎ 1003-30009
UPC ‏ : ‎ 651043300093
Manufacturer ‏ : ‎ Bliss
ASIN ‏ : ‎ B082YJ8C8K

BRIGHTENING VITAMIN C: Contains 3-O-Ethyl Ascorbic Acid, the most effective and non-irritating form of Vitamin C, to visibly firm and brighten the delicate eye area.
COLLAGEN-PROTECTING DUO: Spa-grade Vitamin C and Tri-Peptide work together to preserve elasticity and boost skin’s natural resilience, keeping eyes looking youthful.
REDUCES FINE LINES: Proprietary vegan blend of moisturizing ingredients reduces the appearance of fine lines and wrinkles over time, revealing smoother skin.
ANTIOXIDANT-RICH PROTECTION: Licorice Root Extract calms and soothes skin while protecting against free radicals, ensuring a refreshed and protected look.
EASY TO USE DAILY: Perfect for daily use and pairs seamlessly with Bright Idea Serum and Moisturizer for a comprehensive anti-aging skincare routine.

Customers say

Customers appreciate the moisturizing and absorbency properties of the skin moisturizer. They find it lightweight and creamy, with a light smell. The texture easily absorbs into the skin and wears well under makeup. Many customers consider it a good value and effective for sensitive skin. However, some have issues with eye color and mixed opinions on brightness and skin irritation.

AI-generated from the text of customer reviews

Introducing Bliss Vitamin C Eye Cream: Your Ultimate Anti-Aging Treatment!

Are you looking for a powerful eye cream that will brighten, hydrate, and rejuvenate your under-eye area? Look no further than Bliss Vitamin C Eye Cream! Formulated with 3-O-Ethyl Ascorbic Acid, Tri-Peptide, and Licorice Root, this luxurious eye cream is designed to reduce fine lines, boost collagen production, and firm the delicate skin around your eyes.

Say goodbye to tired, puffy eyes and hello to a more youthful and radiant appearance with Bliss Vitamin C Eye Cream. This lightweight yet potent formula is packed with antioxidants and nutrients to nourish and protect your skin from environmental stressors.

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January 29, 2025

NEOCUTIS Lumière Illuminating Eye Cream | 5 Month Supply | Under Eye cream for anti-aging | Minimizes under eye darkness & reduces puffiness | Boosts Collagen for brighter, younger-looking eyes,1 Count (Pack of 1)

Price: ~~$97.00~~ – $79.00
(as of Jan 26,2025 12:11:27 UTC – Details)

From the brand

NEOCUTIS Particle Background

NEOCUTIS - Breakdown - New and Skin

Over 15 years ago, NEOCUTIS was founded on the basis of extensive wound-healing research. Their wound healing technology was found to help heal skin making it appear healthier. NEOCUTIS scientists began to explore how to apply the same principles to improve the appearance of aging skin. And they accomplished just that!

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NEOCUTIS’s ongoing, cutting-edge research and meticulous craftsmanship delivers targeted skincare to help nourish and rejuvenate skin.

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Award-Winning Moisturizer

NEOCUTIS’s Lumiere Firm Riche was the winner of the Marie Claire: Favorite for Mature Skin Award (2023)!

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This collection of anti-aging products is proven to rejuvenate and help improve the appearance of skin.

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2023 InStyle Best Beauty Buys Neo Cleanse Gentle Cleanser

Award-Winning Cleanser

NEOCUTIS’s NeoCleanse Gentle Cleanser was the winner of InStyle’s Best Cleanser for Dry and Sensitive Skin Beauty Award (2023)!

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Bio Cream Firm

Formulated with proprietary peptides, this face cream decreases signs of aging including uneven tone, wrinkles, and sagginess.

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This award-winning eye cream targets the delicate eye area to reduce the appearance of crow’s feet, puffiness, and under-eye darkness.

Bio Serum Firm

This luxury serum minimizes the appearance of wrinkles, refines texture, brightens skin tone, and boosts elasticity and hydration.

What skin types can use NEOCUTIS?

NEOCUTIS products are formulated for all skin types including normal, dry, oily, and combination skin. We recommend consulting your provider to learn which NEOCUTIS products are best for your skin type.

Do NEOCUTIS products require a prescription?

No.

Is NEOCUTIS safe for sensitive skin?

NEOCUTIS products are formulated for skin tolerability. The skin tolerability of these products was evaluated during standard dermatological studies for cosmetic products. Speak with your healthcare provider regarding what products are safe for your skin.

What is Bio Cream Firm?

Based on Bio Cream, the original anti-aging, growth-factor formulation, this new combination treatment also contains our proprietary peptides.

What is Bio Serum Firm?

A: Based on Bio Cream, the original anti-aging, growth-factor formulation, this new combination formulation also contains our proprietary peptides.

What is Bio Gel Firm?

A: Bio Gel Firm is an evolution of Bio Gel, our anti-aging, growth-factor formulation, now paired with proprietary peptides to additionally support collagen and elastin.

How is Bio Cream Firm different from Bio Cream?

New Bio Cream Firm integrates growth factors with proprietary peptides in one effective formulation. Bio Cream Firm also contains argan oil.

What results have been seen with Bio Cream Firm?

In a consumer perception study, users expressed high satisfaction with results after both 14 and 30 days of twice-daily use.

Are NEOCUTIS products ethical and cruelty-free?

Yes. NEOCUTIS does not test our products on animals. NEOCUTIS skincare is dermatologist-tested, non-comedogenic, and free of color additives or fragrance.

Product Dimensions ‏ : ‎ 1.75 x 1.75 x 4 inches; 0.5 ounces
UPC ‏ : ‎ 842065011443
Manufacturer ‏ : ‎ Merz North America Inc.
ASIN ‏ : ‎ B07PPNPTV6

Customers say

Customers appreciate the product’s wrinkle prevention and brightness. They find it effective in reducing undereye bags, wrinkles, and dark circles. However, some customers have issues with burn resistance. Opinions differ on its effectiveness, skin hydration, value for money, and how long it lasts.

AI-generated from the text of customer reviews

Introducing the NEOCUTIS Lumière Illuminating Eye Cream – Your Secret Weapon for Brighter, Younger-Looking Eyes!

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With a 5-month supply in each pack, you can enjoy long-lasting results and radiant eyes that will make you look and feel more confident. Whether you’re dealing with fine lines, wrinkles, or dark circles, this eye cream is your go-to solution for achieving a more youthful and refreshed appearance.

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January 26, 2025

News coverage boosts giving after disasters – Australian research team’s findings may offer lessons for Los Angeles fires

In late 2019 and early 2020, a series of devastating wildfires, known as the “black summer” bushfire disaster, left Australia reeling: More than 20% of the country’s forests burned.

As a scholar of the psychology of charitable giving, I have long been interested in the unique emotional response that disasters evoke – often generating an urgent and visceral wish to help.

I wanted to understand how and why people respond to a crisis of this magnitude. For the project, I teamed up with three Australian environmental psychology and collective action experts: Matthew Hornsey, Kelly Fielding and Robyn Gulliver.

We found that international media coverage of disasters can help increase donations. Our findings, which were published in the peer-reviewed academic journal Disasters in 2022, are relevant to the situation in Los Angeles, where severe fires destroyed thousands of homes and businesses in January 2025, devastating many communities.

That recovery could take years.

5 key factors affect generosity

All told, Australian donors gave more than US$397 million, or $640 million in Australian dollars, to support the recovery from the black summer bushfire disaster. The international community also rallied: U.S. and U.K. donors contributed an additional US$2.6 million. These donations were used to fund evacuation centers, support groups for victims, and cash grants for repairs and rebuilding, among other things.

When we surveyed 949 Australians about what influenced their donations and analyzed news articles about the disaster, we found that coverage of disasters significantly increased generosity and influenced which charities drew donations. This may be because news articles communicated directly the need for charitable support.

Using this survey data, we identified key factors that influenced how much money, if any, people donated in response to the bushfire disaster appeals. These five were linked with the amounts Australians donated:

• Scale: The sheer scale of the fires.

• Personal impact: Having been personally affected, knowing people who have been affected, or being worried that they will be affected in the future.

• Climate change beliefs: Believing that climate change is impacting the environment.

• News footage: The dramatic footage of the fires they have seen.

• Stories: The stories of those who have been affected.

Three of these factors – scale, news footage and stories – relate to information people were exposed to in media coverage of the disaster. Further, when we asked people how they chose which charities to support, they said that media coverage was more influential than either their friends and family or direct communication from those same charities.

These findings collectively show how media coverage can powerfully influence both how much people give to disaster relief and which nonprofits they choose to support.

A man and a child stand amid wreckage that's been burned. — Bushfire survivor Ian Livingston and his son Sydney stand in the ruins of their family home, lost to the ‘black summer’ bushfires in May 2020 in Cobargo, Australia.
Brook Mitchell/Getty Images

Setting the agenda

In the next phase of our research, we tried to learn how media coverage affects the public’s generosity.

We downloaded every news article we could find about the disaster over the three-month period that fires raged and analyzed the text of 30,239 news articles using Linguistic Inquiry and Word Count software.

We looked at which kinds of language and concepts were being used in media coverage, and how frequently they were used compared with their use in everyday written language.

In addition to concepts we expected to see, like emergency, heroes and human loss, we found that the concepts of support and money frequently showed up in coverage. Words like “donations,” “help” and “support” occurred in 74% of news articles. Words having to do with money were even more common: They appeared almost twice as often as they do in ordinary written language.

Our findings suggest that news coverage may have helped to set the agenda for the huge charitable response to Australia’s wildfire disaster because the media told people what they should be thinking about in terms of that disaster. In Australia’s case, it was how they could help.

A consideration for the media

We also believe that it’s likely that news coverage of disasters like this one can serve an agenda-setting function by teaching the public how to think about the crisis.

To the extent that news coverage highlights concepts like support, possibly communicating that donating is a normal response to a crisis, it’s reasonable to expect people to donate more money.

Given that news coverage can influence how much someone donates, as well as which charities they choose to support, nonprofits responding to the Los Angeles fires may wish to encourage media outlets to mention their work in news coverage.

It is likely that being featured in news coverage – especially when calls to action or opportunities to donate are incorporated in an article – would result in more funds being raised for the charity’s response to the disaster.

In the wake of disasters, news coverage plays a crucial role in driving donations and support for affected communities. A recent study conducted by a research team in Australia has revealed the significant impact that media coverage can have on increasing charitable giving.

The study found that in the aftermath of disasters, such as bushfires and floods, news coverage not only raised awareness about the devastation but also motivated people to donate to relief efforts. The researchers noted that the more prominent and sustained the media coverage, the greater the surge in donations.

These findings may offer valuable lessons for communities facing similar challenges, such as the recent wildfires in Los Angeles. By highlighting the stories of those affected and showcasing the urgent need for assistance, news outlets can mobilize support and generosity from the public.

In times of crisis, the power of the media to inspire action and solidarity cannot be underestimated. By amplifying the voices of those impacted by disasters and providing a platform for fundraising efforts, news coverage can make a tangible difference in the recovery and rebuilding process.

As we continue to navigate the challenges posed by natural disasters, let us not underestimate the role that media coverage can play in galvanizing support and compassion for those in need. By staying informed and engaged, we can all contribute to making a positive impact in times of crisis.

Tags:

Disaster relief giving
News coverage impact on donations
Australian research on disaster giving
Lessons for Los Angeles fires
Boosting giving after disasters
Research on disaster relief donations
News coverage and charitable giving
Australian study on disaster giving
Los Angeles fires and donation patterns
Disaster response and philanthropy.

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January 26, 2025

Tyler Adams boosts USMNT optimism with return to top form, has Bournemouth flying

The mark of a good defensive midfielder is when you hardly notice their presence. They’ve snuffed out an opponent’s attack before the crowd can begin to anticipate a box entry. Their passing is so metronomic that it puts a viewer in a daze. Even the most game-changing of defensive actions look tidy when handled with masterful precision.

Tyler Adams is a good defensive midfielder, as has been established for nearly five years now after his breakthrough with RB Leipzig. Despite this, he lacks that “blink and you’ll miss his work” air about him. The reason for this is simple: his clubs and country fare noticeably better whenever he’s involved.

Bournemouth is the latest beneficiary of Adams’ play. They played their first seven games of the season without Adams as he recovered from back surgery in July. Since then, Andoni Iraola’s side has seemingly gone from strength to strength: 10 games unbeaten, dating back to a 4-2 win at Wolves on Nov. 30, with a 2.2-points-per-game clip over the period that only trails Nottingham Forest among Premier League sides.

Adams’ return has been highly anticipated by Bournemouth in part because he was hardly available in his first season. The club signed him after Leeds United were relegated, hoping he would be a more dependable midfield anchor than Jefferson Lerma, who was leaving for Crystal Palace.

Tyler Adams has contributed to Bournemouth’s superb recent form. (Justin Tallis/AFP via Getty Images)

So great was their faith in the former New York Red Bull that he was their only defensive midfield reinforcement in the three windows following Lerma’s exit. The need for cover was immediately pronounced, as Leeds’ overuse of Adams left him with a torn hamstring that ended his season in early March. Even as he missed nearly all of 2023-24, Bournemouth focused its recruitment on the forward and defensive lines.

After his surgery rehab, Bournemouth has been more willing to ease him back into action. He was slowly reintroduced in late October: one unused appearance on the bench, then two substitute shifts, then his return to the lineup in mid-November.

Starting with that galvanizing win at Molineux, Bournemouth’s 10-game heater yields ample data suggesting Adams has played a significant part. Since Nov. 30, Bournemouth has increased its ball recovery rate by 3.1% (to 58%) from the previous 12 matches, improved the average xG per shot faced from 0.105 to 0.085, and upped its pressing intensity of passes allowed per defensive action made (or PPDA) from 11.2 to 9.3.

“It’s a controlled chaos,” Adams told TNT Sports after last weekend’s win at Newcastle. “We want to make the game as chaotic as possible but controlled for us. We try to overwhelm the opponent as much as possible but for us, it feels normal. We’re running all over the place.

“We know I have the freedom to step, I know center backs are coming with me. It’s trust, but you have to have the nuance to it as well. You can’t go flying into tackles all over the pitch. You have to be smart, because we know we can leave ourselves vulnerable at times.”

Adams has looked back to his best. His 12.43 ‘true’ tackles per 1,000 opponent touches — combining raw tackle data with instances when a defender is either shaken by the ball-handler or commits a foul in the process — since Nov. 28 trails only Alexis Mac Allister and João Gomes among all Premier League players (min. 500 minutes played). His ‘true’ tackle win rate of 55.3% exceeds both of them, while he also ranks highly in interceptions and blocked passes per 1,000 opponent touches (4.5, 5th among 61 qualified midfielders) and aerial win rate (64.3%, 15th).

Even more eye-catching than the data are the results themselves. Since returning, Adams has participated in: a 1-0 win over Tottenham, a 3-0 win at Old Trafford, a 2-2 draw at Stamford Bridge, and last weekend’s 4-1 blowout at St. James’ Park. Adams was particularly immense in the most recent result, making a mark all over the pitch in a vintage display.

The run has made Iraola among the hottest names in coaching. It has also reinforced the abilities, individually and as a collective, of Adams and his teammates.

“The system that we play, you have to be a certain type of player to fit into the style,” Adams said last weekend. “You have to have the mentality to press, run, and compete.”

Thankfully for Bournemouth, those traits fit Adams to a tee. The next trick is to keep him available for his national team’s biggest tournament in over three decades.

One can assume that Adams and USMNT manager Mauricio Pochettino have spoken several times since the Argentine’s appointment in September. Unfortunately, Adams’ back injury prevented him from featuring in either of Pochettino’s first two camps before year’s end.

Adams last played for the national team that he co-captains in early July, when he started the Copa América group finale against Uruguay. The match felt doomed before it kicked off, as the previous game’s shock defeat against Panama made advancing from Group C a near impossibility. It was the only time that Adams played a full 90 minutes in the tournament, having played the opening half against Bolivia and Panama.

As The Athletic wrote in the weeks following the USMNT’s early exit, Adams clearly looked below his usual standard across the competition. His lack of involvement in the preceding months left the USMNT’s crucial midfield cog with significant rust. It’s quite understandable why: Adams had logged just 118 minutes for Bournemouth and 96 minutes for the United States dating back to Jan. 1, 2024.

Elimination at the Copa America group stage ended Gregg Berhalter’s tenure. (John Dorton/ISI Photos/Getty Images for USSF)

In the Copa, Adams was far less effective than usual when tackling opponents. Comparing to another small sample — his 360 minutes in Qatar — his duel win rate dropped from 61% to 53%; his ‘true’ tackle win rate fell from a robust 64.7% to a paltry 37.5%. Concerningly, he was forced to commit fouls more often, possibly a side effect of being below his opponents’ fitness standard: from 1.96 fouls per 1,000 opponent touches at the World Cup to 2.89 per 1,000 touches at the Copa América.

This almost certainly wasn’t a case of a player regressing over 18 months. Adams won’t turn 26 until mid-February. Instead, his and Bournemouth’s shared inability to avoid injuries in the months preceding the tournament left him without time to adequately prepare. Compare that to the months preceding the 2022 World Cup, when he’d logged 1,167 Premier League minutes for Leeds in the season’s first half, and it’s clear how much more ready his body was for hard-labor tournament shifts.

Bournemouth and the USMNT have a shared interest in ensuring that Adams’ recent stretch of consistent, high-level play can be sustained for longer than a couple of months at a time. The United States will need all of its best players in fine form to make a deep run when the 2026 World Cup comes to North America. When drafting the USMNT’s projected strongest lineup for that summer, it’s hard to come up with even a few names who are as vital to making it all work as Adams.

For Bournemouth, that may also mean finding adequate cover before the January window closes. Billing was loaned to Napoli as other attacking options surpassed him on the depth chart. The fact that Adams has quickly partnered well with Lewis Cook and Ryan Christie shows that any two starters from the trio complement each other. During this 10-game run, however, no other player beyond these three has logged a single minute in the engine room.

Tanner Tessman’s emergence has given the USMNT midfield options. (Bill Barrett/ISI Photos/Getty Images for USSF)

For the USMNT, Adams may require rest and rotation whenever he has been heavily utilized before an international window. Thankfully, Pochettino has more depth in defensive midfield than his predecessor Gregg Berhalter. Johnny Cardoso, Tanner Tessman and Aidan Morris have all progressed since the 2022 World Cup. None is quite as industrious of a ball-winner as Adams, but each can take a shift to ease the toll on Adams’ legs.

Adams is invaluable to the USMNT, a quintessential “glue guy” with strong leadership attributes and level-headed relatability. Having him as part of each ensuing Pochettino camp will ensure he’s in sync with his teammates even if his minutes must be managed during friendly windows.

With respect to the next handful of windows, none comes close to matching the magnitude of the 2026 World Cup. Entering that tournament with Adams below optimal fitness, or seeing him miss outright due to injury, would be among the worst imaginable setbacks Pochettino could face.

(Top photo: Bryn Lennon/Getty Images)

Tyler Adams, the dynamic midfielder for the US Men’s National Team, has been on fire lately, and his return to top form has fans buzzing with excitement. Adams has been instrumental in Bournemouth’s recent success, with his speed, skill, and tenacity helping the team climb up the standings.

With the USMNT gearing up for World Cup qualifying matches, Adams’ impressive performances couldn’t come at a better time. His ability to control the midfield and create scoring opportunities has been a game-changer for both club and country.

Fans are optimistic about the USMNT’s chances in upcoming matches, thanks in large part to Adams’ stellar play. His leadership on the field and ability to elevate the play of those around him make him a key player to watch in the coming months.

As Adams continues to shine for Bournemouth and the USMNT, the future looks bright for both teams. With his return to top form, there’s no telling how far Adams and his teammates can go.

Tags:

Tyler Adams, USMNT, optimism, return to form, Bournemouth, flying, soccer, football, American player, international, success, performance, impact, resurgence, excitement, competition, strategy, tactics, teamwork, sports, athlete, achievement, victory.

#Tyler #Adams #boosts #USMNT #optimism #return #top #form #Bournemouth #flying

January 25, 2025

Supergoop! Glowscreen SPF 40, Sunrise (Champagne Glow) – 1.7 fl oz – Glowy Primer + Broad Spectrum Sunscreen – Helps Filter Blue Light – Boosts Hydration with Hyaluronic Acid, Vitamin B5 & Niacinamide

Price: ~~$19.99~~ – $24.99
(as of Jan 25,2025 10:00:24 UTC – Details)

For external use only. Avoid contact with eyes. Keep away from naked flame or direct heat sources.
Product Dimensions ‏ : ‎ 1.3 x 2 x 5.3 inches; 1.7 ounces
Item model number ‏ : ‎ 2315158
UPC ‏ : ‎ 816218026882
Manufacturer ‏ : ‎ Supergoop!
ASIN ‏ : ‎ B088ZRZ668

MULTITASKING SUNSCREEN – Supergoop! Glowscreen is a broad spectrum sunscreen with SPF 40 that helps filter blue light and doubles as a makeup-gripping primer for dewy, glowing skin that isn’t greasy or oily—and now it comes in four radiant shades!
YOUR NEW GLOW-TO – Glowscreen’s hydrating formula perfects skin, giving it a healthy dose of pearlescence and creating a totally dewy, glowy base layer for your look without any visible glitz or glitter.
GOOD TO GLOW – With hyaluronic acid, vitamin B5, and niacinamide, this face sunscreen leaves skin naturally supple and dewy from the inside out. One step, and you’re good to glow.
POWERFUL INGREDIENTS – Our hydration blend helps boost moisture in the skin, leaving it feeling soft and nourished. Sea lavender provides antioxidant protection, while supporting long-lasting hydration.
HOW TO APPLY – Apply generously and evenly as the last step in your skincare routine and before makeup.

Introducing the Supergoop! Glowscreen SPF 40 in Sunrise (Champagne Glow) – the ultimate glowy primer and broad spectrum sunscreen in one!

Not only does this product provide SPF 40 protection against harmful UV rays, but it also helps filter blue light from screens and devices that can contribute to skin damage. Say goodbye to dull, tired-looking skin and hello to a radiant, glowing complexion!

Formulated with hyaluronic acid, vitamin B5, and niacinamide, this lightweight sunscreen primer boosts hydration, smooths skin texture, and helps reduce the appearance of fine lines and wrinkles. Plus, the champagne glow tint adds a subtle luminosity to your skin for a healthy, dewy finish.

Whether you wear it alone for a natural, radiant look or under makeup as a primer, the Supergoop! Glowscreen SPF 40 is a must-have for anyone looking to protect and enhance their skin. Try it out and see the difference for yourself! #Supergoop #Glowscreen #SPF40 #Skincare #GlowingSkin
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care

January 25, 2025

5% Niacinamide Vitamin B3 Cream Serum – Anti-Aging For Face & Neck. 1.7oz. Use Morning & Night. Firms & Renews Skin. Tightens Pores, Reduces Wrinkles, Fades Dark Spots & Boosts Collagen. Made in USA

Price: $22.45
(as of Jan 23,2025 05:46:21 UTC – Details)

Our Niacinamide Cream is worthy of your attention and your skin will love you for it. When used daily, our organic niacinamide serum will have a positive impact on your overall skin health.

With clinical trials and research, studies continue to prove remarkable results as a treatment for anti-aging, acne, discoloured skin and can even help build proteins in the skin while locking in moisture to prevent environmental damage.

Niacinamide is a form of vitamin B3 oil, that works with natural substances in your skin to help visibly improve multiple skin concerns including:

Pore tightener -Reducing the sizes of pores tighten face and overtime keeping skin smooth and moisturized.

Fine lines and wrinkles -Reducing signs of sun damage that comes with ageing. Vitamin b3 facial serum builds cells in the skin while also protecting them from environmental stresses, such as sunlight, pollution and toxins.

Redness and blotchiness -Niacinamide supplement reduces inflammation, which helps ease redness from eczema, acne and other inflammatory skin conditions.

Hyperpigmentation -Research has found the niacinamide cream for hyperpigmentation can help lighting dark spots due to the increase of collagen production, benefits were seen after a couple of weeks.

Regulates oil -Niacinamide topical can also help regulate the amount of oil the sebaceous glands products and prevents your glands from going into overdrive.

We also know that not everybody’s skin is the same and will react differently, which is why we designed it to be suitable for all skin types. No one should miss out on this incredible vitamin b3 serum cream.

We ensure that every single one of our products is cruelty-free ensuring peace of mind not only for us but for you as well.
Is Discontinued By Manufacturer ‏ : ‎ No
Product Dimensions ‏ : ‎ 6 x 1.25 x 1.25 inches; 4 ounces
Item model number ‏ : ‎ 0712038008018
UPC ‏ : ‎ 712038008018
Manufacturer ‏ : ‎ Luminositie
ASIN ‏ : ‎ B01EAY2QUS

COLLAGEN BOOSTER: Thanks To The Vitamin B3 Niacinamide In Our Simply Flawless Anti Aging Cream, It Actively Boosts The Collagen In Your Skin Which Helps Reduce Wrinkles And Rejuvenates Your Skin, Providing Your Skin With All The Right Nutrients.
IMPROVED DISPENSER: Introducing The New Airless Dispenser For Easy To Use Pump Action, For The Prefect Amount Of Niacinamide For Skin With Just One Pump. Vitamin B3 Serum For Face Is An Natural Skin Lightener Ideal For A Redness Reducing Serum.
SKIN PLUMPER: The Moisturizing Niacinamide Skin Formula Effectively Hydrates Your Skin While Giving It A Plump, Soft Look. Our Night Cream Effectively Adds Elasticity To Your Skin For A Soft, Bright Youthful Look.
PARABEN And CRUELTYFREE: All Of Our Beauty Products Are CrueltyFree Meaning They Are Never Tested On Animals. As Well As Being ParabenFree Ensuring That The Vitamin B Serum For Face Is Suitable For All Skin Types.
TRUST: We have worked hard with anti-aging and skin care specialised all over to formulate a niacinamide eye cream based on all-natural ingredients that works. This means you can rest assured your skin is getting everything it needs, and nothing else.

Customers say

Customers find that the skin serum leaves their skin hydrated and smooth. They appreciate its creamy texture and pleasant scent. Many describe it as a good day cream that absorbs well. The product is considered effective and provides a radiant glow.

AI-generated from the text of customer reviews

Looking to step up your skincare game? Look no further than our 5% Niacinamide Vitamin B3 Cream Serum! This powerful serum is packed with ingredients that work wonders for your skin.

Firms & Renews Skin: Say goodbye to sagging skin and hello to a firmer, more youthful complexion.

Tightens Pores: Minimize the appearance of pores for a smoother, more refined look.

Reduces Wrinkles: Combat fine lines and wrinkles with our potent anti-aging formula.

Fades Dark Spots: Lighten dark spots and hyperpigmentation for a more even skin tone.

Boosts Collagen: Stimulate collagen production for plump, youthful-looking skin.

Made in the USA, our Niacinamide Vitamin B3 Cream Serum is perfect for all skin types and can be used morning and night for maximum results. Add this powerhouse serum to your skincare routine and watch your skin transform! #skincare #antiaging #niacinamide #madeinUSA
#Niacinamide #Vitamin #Cream #Serum #AntiAging #Face #Neck #1.7oz #Morning #Night #Firms #Renews #Skin #Tightens #Pores #Reduces #Wrinkles #Fades #Dark #Spots #Boosts #Collagen #USA,niacinamide

January 23, 2025

Bliss Bright Idea Vitamin C + Tri-Peptide Collagen Brightening Face Skincare Serum – Anti Aging, Reduces Dark Spots, Boosts Skin Elasticity – Clean – Vegan & Cruelty-Free – 1 Fl Oz

Price: ~~$30.00~~ – $18.49
(as of Jan 23,2025 04:38:07 UTC – Details)

Water (Aqua) (Eau), Glycerin, 3-O-Ethyl Ascorbic Acid, Propanediol, Palmitoyl Tripeptide-5, Glycyrrhiza Glabra (Licorice) Root Extract, Squalane, Tocopherol, Pseudozyma Epicola/Camellia Japonica Seed Oil Ferment Extract Filtrate, Pseudozyma Epicola/Camellia Sinensis Seed Oil/Glucose/Malt Extract/Soybean Flour/Yeast Extract Ferment Filtrate, Glycine Soja (Soybean) Oil, Sodium Hyaluronate, Lecithin, Bisabolol, Pullulan, Xanthan Gum, Sclerotium Gum, Acacia Senegal Gum, Hydroxyacetophenone, Caprylyl Glycol, Hydrogenated Farnesene, Polyacrylate Crosspolymer-6, Hydroxyethyl Acrylate/ Sodium Acryloyldimethyl Taurate Copolymer, Polyglyceryl-4 Laurate/Succinate, Glyceryl Stearate, C14-22 Alcohols, C12-20 Alkyl Glucoside, Silica, Dimethyl Isosorbide, Hexylene Glycol, Ethoxydiglycol, Sodium Citrate, Tetrasodium Glutamate Diacetate, Phenoxyethanol, Ethylhexylglycerin, Citric Acid, Fragrance (Parfum), Limonene
Product Dimensions ‏ : ‎ 2.56 x 3.74 x 5.12 inches; 4.16 ounces
Item model number ‏ : ‎ 1003-30009
UPC ‏ : ‎ 651043301120
Manufacturer ‏ : ‎ Bliss World
ASIN ‏ : ‎ B082YJF4ZY

VITAMIN C AND PEPTIDE SERUM: Use this universal skin care serum daily for a brighter face and a healthy dose of vitamin C to visibly illuminate!
BOOSTS BRIGHTNESS AND ELASTICITY: Get next-level glowing skin with this potent Vitamin C serum! This powerhouse daily serum for skin care works to brighten your complexion with antioxidant-rich Vitamin C to reduce the look of dark spots and protect collagen.
CLINICAL-GRADE VITAMIN C + TRI-PEPTIDE SERUM: It includes a professional spa-grade blend of brightening Vitamin C, plus patented tri-peptides to boost and protect collagen levels and green tea extract for a boost of antioxidants.
ONE-STEP LUMINOSITY: Get a youthful glow in one step with this powerhouse facial serum! Not only does it dramatically help to brighten your complexion, it helps to boost skin’s elasticity for visibly firmer skin.
HOW TO APPLY: Massage onto clean, dry skin morning and night. Avoid eye area. Follow with Bright Idea Moisturizer if desired. Keep in a cool, dry place out of direct sunlight.

Customers say

Customers are satisfied with the skin serum’s effectiveness, skin tone, and skin feel. They find it effective, leaving their skin smoother, brighter, and firmer. Many appreciate the pleasant citrus scent and how well it moisturizes their skin. While most customers find the product a good value for money, some have mixed opinions on skin sensitivity.

AI-generated from the text of customer reviews

Introducing the Bliss Bright Idea Vitamin C + Tri-Peptide Collagen Brightening Face Skincare Serum!

Say goodbye to dull, tired skin and hello to a radiant, youthful complexion with our powerful anti-aging serum. Packed with Vitamin C and Tri-Peptide Collagen, this serum works wonders to reduce dark spots, boost skin elasticity, and leave your skin looking brighter and more even-toned.

Not only is our serum effective, but it’s also clean, vegan, and cruelty-free, so you can feel good about what you’re putting on your skin. Plus, with a convenient 1 fl oz size, you can easily incorporate this serum into your daily skincare routine.

Don’t let dull skin hold you back – try our Bliss Bright Idea Serum today and experience the glow-up you’ve been dreaming of! #BlissBrightIdea #SkincareSerum #RadiantSkin
#Bliss #Bright #Idea #Vitamin #TriPeptide #Collagen #Brightening #Face #Skincare #Serum #Anti #Aging #Reduces #Dark #Spots #Boosts #Skin #Elasticity #Clean #Vegan #CrueltyFree,korean beauty

January 23, 2025

NeuroQ Memory & Focus Extra Strength – Boosts Cognitive Performance & Brain Function – Supports Neuroprotection & Concentration – Huperzine A, Gotu Kola, Ginkgo, Coffee Fruit & Propolis – 60 Capsules

Price: $59.95
(as of Jan 22,2025 05:10:52 UTC – Details)

Statements regarding dietary supplements have not been evaluated by the FDA and are not intended to diagnose, treat, cure, or prevent any disease or health condition.
Package Dimensions ‏ : ‎ 4.84 x 2.2 x 2.09 inches; 2.47 ounces
Date First Available ‏ : ‎ January 24, 2023
Manufacturer ‏ : ‎ LifeSeasons
ASIN ‏ : ‎ B0BSYCKST2

Health Benefits – Boosts cognitive performance and supports overall brain function by improving blood flow and maintaining healthy cell membranes. Memory & Focus has been shown to improve recall, boost focus, enhance mental clarity, and increase neurological brain speed.
Clinically Tested Ingredients – Crafted with all natural ingredients such as Huperzine A, Gotu Kola, Ginkgo Leaf extract, Phosphatidylserine, Coffee fruit extract, and Yamada Bee Farm propolis to promote brain and nervous system health.
Effective – Formulated to help get blood pumping to your brain so it can fire on all cylinders. When used consistently, customers have experienced improvements in memory, energy, a lift in brain fog, and stronger overall cognitive health.
Boost Fuel Renew & Protect – Our ingredients work together synergistically to protect long-term brain health while increasing blood flow, reducing toxins, and supporting healthy brain cell development.
One Unique Blend – Achieving a change in health requires the right ingredients in the right doses. This used to require purchasing many individual vitamins and nutrients to create an effective blend. NeuroQ was doctor formulated to put that blend into one bottle.

Customers say

Customers appreciate the herbal supplement’s effectiveness in improving memory and focus. They find it helps them stay engaged and focused, making their minds sharper. However, some customers report headache or diarrhea issues. Opinions vary on its value for money, brain health, and ease of swallowing.

AI-generated from the text of customer reviews

Are you looking to improve your cognitive performance and enhance your brain function? Look no further than NeuroQ Memory & Focus Extra Strength!

Our powerful formula is designed to support neuroprotection, enhance concentration, and boost overall brain health. With key ingredients such as Huperzine A, Gotu Kola, Ginkgo, Coffee Fruit, and Propolis, you can trust that you are giving your brain the support it needs to perform at its best.

Whether you are a student looking to improve your focus for studying, a professional looking to enhance your productivity at work, or simply someone looking to support their brain health as they age, NeuroQ Memory & Focus Extra Strength is the perfect supplement for you.

Don’t wait any longer to give your brain the support it deserves. Try NeuroQ Memory & Focus Extra Strength today and experience the benefits of improved cognitive performance and enhanced brain function!
#NeuroQ #Memory #Focus #Extra #Strength #Boosts #Cognitive #Performance #Brain #Function #Supports #Neuroprotection #Concentration #Huperzine #Gotu #Kola #Ginkgo #Coffee #Fruit #Propolis #Capsules,health & strength

January 22, 2025

Biden Boosts AI Despite Energy Dept. Warning

Just before President Joe Biden this week issued a last-minute order designed to boost tech companies’ artificial intelligence buildout, his own Energy Department issued a report warning that data centers’ energy consumption, water use, and emissions are already skyrocketing amid increasing electricity costs, droughts, and climate disasters.

Biden’s Jan. 14 executive order calls for the Energy and Defense Departments to lease federal lands to private-sector companies to “build AI infrastructure at speed and scale.”

“Today’s Executive Order enables an AI infrastructure buildout that protects national security, enhances competitiveness, powers AI with clean energy, enhances AI safety, keeps prices low for consumers, demonstrates responsible ways to scale new technologies, and promotes a competitive AI ecosystem,” Biden said in a statement announcing the executive order.

The AI industry already uses more energy annually than 16.3 million American households, and studies suggest that energy use is increasing electricity prices for American consumers.

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The executive order comes just one month after a new Department of Energy report that found energy consumption for data centers — particularly AI data centers — is projected to boom in the coming years, accounting for up to 12 percent of the total U.S. electricity use in 2028.

The report, produced by scientists at the Lawrence Berkeley National Laboratory, found that data center energy use more than doubled from 2017 to 2023, largely due to AI and Bitcoin mining. The spike in energy use comes after years of relatively stable data center energy usage throughout the 2010s.

The kinds of data centers and storage facilities being built have also changed dramatically. Historically, office buildings had on-site storage for their data. That has since changed as many companies have shifted to cloud computing — or off-site, energy-intensive data facilities accessed through the internet.

The report found that in 2023, U.S. data center energy use accounted for 176 terawatt hours — 4.4 percent of all total electricity consumption nationwide, or more than the total amount consumed by all households in California. By 2028, scientists estimate that data center energy use will be between 325 and 580 terawatt-hours per year — roughly 6.7 to 12 percent of all U.S. electricity consumption, or the amount that 30 to 53 million households currently use.

The explosion in data center energy use can impact consumers’ pocketbooks. A November study from the Jack Kemp Foundation, a public policy nonprofit, found that electricity bills could increase by up to 70 percent due to AI data center energy demands.

The data center explosion is also consuming massive amounts of water. In 2014, data centers indirectly used more than 5.6 billion gallons of water for cooling and other energy purposes. According to the new Energy Department report, that indirect water footprint swelled to more than 211 billion gallons in 2023 — more water than 1.76 million U.S. households use per year.

The report’s authors declined to estimate future environmental impacts of the data center boom due to “potential future changes in the electricity mix.” Still, they noted, “With the projected growth of data centers’ energy use in the coming years, indirect water consumption and emissions are also expected to increase.”

Biden’s executive order calls for the new data centers to use clean energy sources, such as geothermal energy. However, the clean energy stipulation may be in jeopardy as President-elect Donald Trump takes office on January 20.

Trump, who received more than $32 million from the oil and gas industry during the past election cycle, has promised to “Drill, baby, drill” in order to expand the use of fossil fuels and roll back climate change regulations.

In a recent announcement, President Joe Biden has pledged to boost funding for artificial intelligence (AI) research and development, despite warnings from the Department of Energy about potential risks to national security.

The Biden administration’s plan includes investing $1 billion in AI research and development over the next five years, with a focus on advancing the technology in areas such as healthcare, transportation, and national security.

However, the Department of Energy has raised concerns about the potential risks associated with AI, particularly in the realm of cyber threats and data privacy. In a recent report, the department warned that AI could be used to exploit vulnerabilities in critical infrastructure and pose a threat to national security.

Despite these warnings, the Biden administration remains committed to advancing AI technology and harnessing its potential to drive innovation and economic growth. With the right safeguards in place, AI has the power to revolutionize industries and improve the lives of people around the world.

As the United States continues to invest in AI research and development, it will be crucial for policymakers to address the potential risks and ensure that the technology is used responsibly and ethically. By balancing innovation with security, the Biden administration can help to unleash the full potential of AI while safeguarding national interests.

Tags:

Biden administration
Artificial intelligence
Energy Department
Technology
Innovation
Government policy
AI investment
Biden’s stance on AI
Energy security
Technology advancements

#Biden #Boosts #Energy #Dept #Warning

January 21, 2025

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