It’s almost a wrap for “The Kitchen.”

Food Network announced Monday that its long-running weekend culinary talk show “The Kitchen” is coming to an end. The final episode of the series, co-hosted by network favorites Sunny Anderson, Katie Lee Biegel, Jeff Mauro, Geoffrey Zakarian and recurring guest Alex Guarnaschelli, will air Dec. 13.

“It’s the end of an era,” Biegel said in her Instagram story sharing the news. “Thank you so much to all of our fans. The Kitchen was the greatest professional honor of my life and I will be forever grateful.” Biegel has served as one of the show’s co-hosts since its 2014 premiere.

Mauro, who has also been with the show since the beginning, echoed her sentiments on his own Instagram post.

“I always knew what we had was special — rare, a unicorn, an anomaly,” Mauro said in a lengthy caption thanking fans and colleagues. “I got to spend a dozen years with my best friends — cooking, laughing, and eating life-changing bites from some of the world’s greatest chefs and cooks.”

Currently in its 40th season, the Daytime Emmy-nominated cooking-themed talk show featured its hosts and guests sharing recipes, discussing food trends and offering other food tips. In addition to celebrated chefs and culinary personalities, “The Kitchen” opened its doors to various actors, musicians and celebrities.

“For over a decade Sunny, Katie, Jeff, Geoffrey and more recently Alex have engaged audiences with their individual and distinct food sensibilities and sense of humor that together make ‘The Kitchen’ a delicious way to spend an hour,” Warner Bros. Discovery head of food content Betsy Ayala said in a statement.

“Everyone knows all good parties end up in ‘The Kitchen,’ where the conversation, laughs and food flow; the best parties probably end a little bit earlier than some guests would like, but we’ve got twelve years of memories and wanted to celebrate this team’s hard work during one final holiday season.”

Food Network titan Bobby Flay congratulated the show’s team for “an iconic run” in the comments on Food Network’s Instagram post sharing the news.

“Thank you to the Kitchen and its fabulous chefs and hosts for holding it down in daytime on [Food Network] for the last decade,” Flay wrote.

Other Food Network stars also chimed in with tributes in the comments responding to the announcement.

“I loved this show because it reminded me of why I fell in love with cooking in the first place,” wrote Aarti Sequeira, Season 6 winner of “The Next Food Network Star,” “lots of voices and hands working together in a kitchen with equal servings of love and sass!!!!”

“[C]ongrats on an incredible show — one of my favorites to watch and to be part of,” “Chopped” judge Marc Murphy wrote. “You’re all legends.”

Fellow “Chopped” judge Tiffani Faison also congratulated the show’s staff for “a run worthy only of this team.”

Berwick-upon-Tweed has been named the happiest and also one of the most charming seaside towns in England and it’s just a 40 minute train ride from Edinburgh and Newcastle

Berwick-upon-Tweed has been crowned the happiest place to live.

This charming town ranks amongst the finest seaside destinations to explore this summer – and it’s merely a brief 40-minute train journey from both Edinburgh and Newcastle. Berwick-upon-Tweed is nestled on the northeastern tip of England, directly beside the Scottish border.

It’s a picturesque and historical location that is adored by its guests. You’ll locate the town at the mouth of the River Tweed, providing stunning vistas across the North Sea.

Although there are rarely crowds in Berwick, even during the high season on the sunniest of days, the town of 12,000 has a lot of fans. Recently, it was named by Touropia as one of the most delightful coastal towns in England. It has just been crowned ‘the happiest place in the UK’ by the Guardian.

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OPINION

Milo Boyd

“Today, Berwick-upon-Tweed remains an often overlooked jewel. Yet people who know it, adore it – it is a great place to live with community spirit in bundles,” the publication writes.

“Berwick was LS Lowry’s favourite holiday destination and a place where he made more than 30 sketches, drawings and paintings including one of Bridge Street which, wonderfully, looks more or less as it did when he painted the scene in 1938.

“Today there is a Lowry Trail (about three hours), taking in cobbled streets, romantic riverbanks and the big, sandy, fun Spittal beach. When there was an attempt to recreate the painting last year, there was no shortage of volunteers – a reflection of the importance of community in Berwick.”

When visiting the town, one essential destination is Spittal beach. It ranks as one of the most beloved beaches in the region. A visitor on Tripadvisor reported: “A beautiful yet quiet beach. There is a car park nearby, as well as a cafe, a small amusement arcade, a splash park and toilets – it is definitely well worth a visit.”

Another big seasonal draw is the Riding of the Bounds, which takes place in May and is a celebration of the traditional horse ride that used to be carried out to ensure the safety of the town. Berwick’s markets on Wednesday and Saturday are also a big hit with locals and visitors alike.

“This border town has a history of being passed between England and Scotland like a hot potato, and Berwick-upon-Tweed’s dominant Town Walls, old prison cells of the Town Hall, castle and ramparts, along with the winding, cobbled streets hold a complex and violent past,” writes Visit Northumberland.

“The romantic River Tweed runs through its centre, dominated by three iconic bridges that have seen years of conflict as control of the town was repeatedly changing. Climb on-board The Border Rose with Berwick Boat Trips, where you can sail beneath the magnificent Royal Border Bridge and into the mouth of the river for some seal and dolphin spotting. All the while, skipper David and crew will keep you entertained with anecdotes of the town’s turbulent history and its rich salmon fishing heritage.”

When in the local area, the nearby Farne Islands are intriguing. They are home to a large colony of grey seals and puffins.

A stable income stream is the cornerstone of a worry-free retirement. By receiving reliable payments, retirees can focus on enjoying life rather than stressing over expenses. The right investments are crucial in making this possible.

Investing in high-quality dividend stocks can be a great source of reliable retirement income. Realty Income (O 1.12%) and Oneok (OKE 0.63%) have each demonstrated the durability of their dividend payments over many decades. This proven reliability makes them strong options for those seeking consistent income in retirement.

Image source: Getty Images.

Executing the mission

Realty Income has a clear mission. This real estate investment trust (REIT) aims to provide dependable monthly dividends that grow over time. The company has paid 664 consecutive monthly dividends throughout its history. It has raised its payment 132 times since its public market listing in 1994, including for the past 112 quarters in a row (and for more than 30 consecutive years). It stands out for its consistency among income stocks in the real estate sector.

The REIT offers investors an attractive dividend that currently yields 5.5%. That’s well above average (the S&P 500‘s dividend yield is around 1.2%). As a result, investors can generate more income from every dollar they invest in the company.

Realty Income backs its reliable dividend with very durable cash flows. It owns a diversified real estate portfolio (retail, industrial, gaming, and other properties), net leased to many of the world’s leading companies. Net leases provide it with very predictable cash flow because tenants cover all property operating expenses, including routine maintenance, real estate taxes, and building insurance. Meanwhile, the company owns properties leased to tenants in resilient industries. Over 90% of its rent comes from tenants in sectors resilient to economic downturns and isolated from the pressures of e-commerce, such as grocery stores, distribution facilities, and data centers.

The REIT pays out a conservative percentage of its stable rental income in dividends (about 75% of its adjusted funds from operations). That gives it a comfy cushion while enabling it to retain lots of cash to make additional income-generating real estate investments. Realty Income also has one of the strongest balance sheets in the sector, further enhancing its ability to make new investments. It should have no shortage of investment opportunities in the coming years, given the $14 trillion total estimated market value of real estate suitable for net leases across the U.S. and Europe. The company’s growing portfolio enables it to steadily increase its dividend.

A pillar of stability

Oneok has been one of the most reliable dividend stocks in the pipeline sector. The energy infrastructure company has delivered more than a quarter-century of dividend stability and growth. While Oneok hasn’t increased its payout every single year, it has grown it at a peer-leading rate over the past 10 years by nearly doubling its payment. The company currently offers a 6% dividend yield.

The energy company operates a balanced portfolio of premier energy infrastructure assets, backed predominantly by long-term, fee-based contracts. Those agreements provide it with very stable cash flow to cover its dividend. Oneok also has a strong investment-grade balance sheet backed by a low leverage ratio. This rock-solid financial position gives the company the flexibility to invest in organic expansion projects and make accretive acquisitions to grow its platform.

Oneok currently has several high-return organic expansion projects in the backlog, which it expects to complete through mid-2028. This gives it lots of visibility into its future growth. The company has also made several acquisitions over the past few years, which will continue to boost its bottom line in the coming years as it captures additional synergies. It has ample financial flexibility to approve new expansion projects and make additional acquisitions. With demand for energy expected to continue growing, especially for natural gas, the company should have no shortage of investment opportunities. This fuels Oneok’s view that it can grow its dividend by a 3% to 4% annual rate.

Reliable income stocks

For retirees seeking dependable, growing income, Realty Income and Oneok stand out as proven dividend payers. Their stable cash flow and prudent financial management provide confidence that these companies can continue delivering reliable income for years. Those features make them ideal dividend stocks for retirement portfolios.

Gov. Gavin Newsom issued a stark warning Monday that food assistance benefits for millions of low-income Californians could be delayed starting Nov. 1 if the ongoing federal shutdown does not end by Thursday.

The benefits, issued under the Supplemental Nutrition Assistance Program, or SNAP, and formerly called food stamps, include federally funded benefits loaded onto CalFresh cards. They support some 5.5 million Californians.

Newsom blamed the potential SNAP disruption — and the shutdown more broadly — on President Trump and slammed the timing of the potential cutoff just as the Thanksgiving holiday approaches.

“Trump’s failure to open the federal government is now endangering people’s lives and making basic needs like food more expensive — just as the holidays arrive,” Newsom said. “It is long past time for Republicans in Congress to grow a spine, stand up to Trump, and deliver for the American people.”

The White House responded by blaming the shutdown on Democrats, as it has done before.

Abigail Jackson, a White House spokeswoman, said the “Democrats’ decision to shut down the government is hurting Americans across the country,” and that Democrats “can choose to reopen the government at any point” by voting for a continuing resolution to fund the government as budget negotiations continue, which she said they repeatedly did during the Biden administration.

“Newscum should urge his Democrat pals to stop hurting the American people,” Jackson said, using a favorite Trump insult for Newsom. “The Trump Administration is working day and night to mitigate the pain Democrats are causing, and even that is upsetting the Left, with many Democrats criticizing the President’s effort to pay the troops and fund food assistance for women and children.”

Congressional Republicans also have blamed the shutdown and resulting interruptions to federal programs on Democrats, who are refusing to vote for a Republican-backed funding measure based in large part on Republican decisions to eliminate subsidies for healthcare plans relied on by millions of Americans.

Newsom’s warning about SNAP benefits followed similar alerts from other states on both sides of the political aisle, after the U.S. Department of Agriculture warned state agencies in an Oct. 10 letter that the shutdown may interrupt funding for the benefits.

States have to take action to issue November benefits before the month ends, so the shutdown would have to end sooner than Nov. 1 for the benefits to be available in time.

Newsom’s office said Californians could see their benefits interrupted or delayed if the shutdown is not ended by Thursday. The Texas Health and Human Services Department warned that SNAP benefits for November “won’t be issued if the federal government shutdown continues past Oct. 27.”

Newsom’s office said a cutoff of funds would affect federally funded CalFresh benefits, but also some other state-funded benefits. More than 63% of SNAP recipients in California are children or elderly people, Newsom’s office said.

In her own statement, First Partner of California Jennifer Siebel Newsom said, “Government should be measured by how we protect people’s lives, their health, and their well-being. Parents and caregivers should not be forced to choose between buying groceries or paying bills.”

States were already gearing up for other changes to SNAP eligibility based on the Republican-passed “Big Beautiful Bill,” which set new limits on SNAP benefits, including for nonworking adults. Republicans have argued that such restrictions will encourage more able-bodied adults to get back into the workforce to support their families themselves.

Many Democrats and advocacy organizations that work to protect low-income families and children have argued that restricting SNAP benefits has a disproportionately large effect on some of the most vulnerable people in the country, including poor children.

According to the USDA, about 41.7 million Americans were served by SNAP benefits per month in fiscal 2024, at an annual cost of nearly $100 billion. The USDA has some contingency funding it can utilize to continue benefits in the short term, but does not have enough to cover all monthly benefits, advocates said.

Andrew Cheyne, managing director of public policy at the advocacy group End Child Poverty California, urged the USDA to utilize its contingency funding and any other funding stream possible to prevent a disruption to SNAP benefits, which he said would be “disastrous.”

“CalFresh is a lifeline for 5.5 million Californians who rely on the program to eat. That includes 2 million children. It is unconscionable that we are only days away from children and families not knowing where their next meal is going to come from,” Cheyne said.

He said the science is clear that “even a brief period of food insecurity has long-term consequences for children’s growth and development.”

Ted Lempert, president of Children Now, said a disruption would be “horrific.”

“We speak out for the needs of kids and families, and kids need food — basic support to live and function and go to school,” he said. “So this could be really devastating.”

Times staff writer Jenny Gold contributed to this report.

Israeli club Maccabi Tel Aviv say they will not accept any ticket allocation from Aston Villa should the decision to ban their supporters from next month’s Europa League match be overturned.

Birmingham’s Safety Advisory Group (SAG) – the body responsible for issuing safety certificates for matches – last week informed Villa no travelling fans would be permitted at the match in the city.

The decision was widely condemned, with Culture Secretary Lisa Nandy pledging that the government will “find the resources” to allow Maccabi fans to attend earlier on Monday.

But Maccabi Tel Aviv now say supporters will not travel for safety reasons – that “a toxic atmosphere has been created which makes the safety of our fans wishing to attend very much in doubt”.

A club statement said, external: “The wellbeing and safety of our fans is paramount, and from hard lessons learned we have taken the decision to decline any allocation offered on behalf of away fans and our decision should be understood in that context.

“We hope that circumstances will change and look forward to being able to play in Birmingham in a sporting environment in the near future.”

“We are deeply saddened Maccabi Tel Aviv have turned down their away fan allocation but we respect their right to do so,” a government spokesperson said.

They added it was “completely unacceptable” that the match has been “weaponised to stoke violence and fear by those who seek to divide us”.

“The government has been working around the clock to defend a basic principle – that football fans should be able to enjoy a game without fear of intimidation or violence.”

On Thursday, West Midlands Police said it had classified the fixture as “high risk” based on current intelligence and previous incidents, including “violent clashes and hate crime offences” between Ajax and Maccabi Tel Aviv fans before a match in Amsterdam, in November 2024.

Nandy said ministers were working together to fund any necessary policing operation to allow away fans to attend, and the SAG would review the decision if West Midlands Police changed its risk assessment.

Nandy said the matter was wider than matchday security, adding it came “against the backdrop of rising antisemitism here and across the world, and an attack on a synagogue in Manchester in which two innocent men were killed”.

On Sunday, the Israeli Premier League derby between Maccabi Tel Aviv and Hapoel Tel Aviv was cancelled before kick-off, after what police described as “public disorder and violent riots”.

Maccabi say the decision to call that game off was not down to their supporters and thanked the UK government for its efforts.

They said: “We believe that football should be about bringing people together not driving them apart.

“Our fans regularly travel all over Europe without incident and to suggest that the reason our fans cannot be allowed to travel is due to their behaviour is an attempt to distort reality.

“We acknowledge the efforts of the UK government and police to ensure both sets of fans can attend the match safely, and are grateful for the messages of support from across the footballing community.”

Aston Villa previously told their matchday stewards they did not have to work at the Maccabi Tel Aviv fixture, saying they understood some “may have concerns”.

Following Thursday’s announcement by the club about the impending fixture, Prime Minister Keir Starmer called the move “wrong” and said: “We will not tolerate antisemitism on our streets.”

Dissenting justice says decision ‘erodes core constitutional principles’ and risks violating freedom of expression.

A United States court of appeals has ruled that the administration of President Donald Trump can move forward with plans to deploy soldiers to Portland, Oregon, despite the absence of any serious emergency and the objections of state and local officials.

The Monday ruling by the Court of Appeals for the Ninth Circuit Court will allow the Trump administration to send 200 National Guard members to the Democrat-run city.

“After considering the record at this preliminary stage, we conclude that it is likely that the President lawfully exercised his statutory authority” when he federalised the state’s National Guard, the three-judge panel stated.

The Trump administration has deployed armed forces to Democrat-run cities across the country, along with aggressive immigration raids in which heavily-armed federal agents wearing masks have pulled people off the streets, demanding that they prove their legal status.

Many US citizens have also been swept up in those raids, during which civil liberty groups have accused immigration agents of operating based on racial profiling, and detaining people without cause.

The American Civil Liberties Union (ACLU) expressed disappointment in the court’s decision.

“As the founders emphasised, domestic deployment of troops should be reserved for rare, extreme emergencies as a last resort, but that is far from what the Trump administration is doing in Portland, Chicago, Los Angeles, and DC,” Hina Shamsi, the director of the ACLU’s National Security Project, said in a statement.

“The presence of troops in otherwise beautiful vibrant American cities erodes a sense of safety and undermines the core freedoms to assemble and voice dissent.”

The Trump administration has claimed that Portland is “war-ravaged” by protesters, who it says are blocking immigration enforcement measures, despite the absence of any serious crisis conditions in the city. Trump and his allies have often employed vague allegations of emergency conditions as a pretext for wielding extraordinary powers both at home and abroad.

Demonstrators have worn costumes while protesting outside of immigration facilities, sometimes donning dinosaur and frog outfits and blasting music. Federal agents have faced criticism of using excessive force against peaceful demonstrators.

“Given Portland protesters’ well-known penchant for wearing chicken suits, inflatable frog costumes, or nothing at all when expressing their disagreement with the methods employed by ICE [Immigration and Customs Enforcement], observers may be tempted to view the majority’s ruling, which accepts the government’s characterization of Portland as a war zone, as merely absurd,” Circuit Judge Susan Graber wrote after casting the dissenting vote on the panel’s ruling.

“But today’s decision is not merely absurd. It erodes core constitutional principles, including sovereign States’ control over their States’ militias and the people’s First Amendment rights to assemble and to object to the government’s policies and actions.”

It’s Halloween in Walford next week, and it’s a spooky time for the Slaters as Kat shocks the Square as she blurts out Zoe’s huge secret – but what is it?

Next week in EastEnders, the Square continues to reel from Zoe’s shock revelation, Julie and Nigel face more struggles, and it’s a spooky Halloween over in Walford.

The soap are still keeping quiet about what Zoe’s bombshell revelation is until later this week – but what we do know, is that whatever it is isn’t going to go down very well.

A few weeks back, we heard Zoe made the shock admission that Dennis Rickman was the father of her son, with Sharon left devastated. Nevertheless, she offered to help Zoe find her son.

But things have taken a back burner since Joel’s horrific attack on Vicki. Next week, Ian about Zoe’s son and seeing how much it means to Sharon, Ian transfers her some money to help…

READ MORE: EastEnders fans ‘work out’ who Okie’s dad is as he opens up – and it’s ‘someone we know’READ MORE: EastEnders ‘confirms’ no way back for Joel after ‘disturbing’ police station outburst

We start off the week in the Vic Quiz night, but Kat is distracted as Zoe’s revelation continues to play on her mind, although Alfie warns her to stay out of it. However, of course, Kat doesn’t listen and blurts out Zoe’s secret – causing commotion and Quiz Night comes to an abrupt end.

Kat later gives Zoe and ultimatum and things get worse at a spooky Halloween, when Alfie discovers a VHS tape from 1980s. Despite Kat attempting to keep the footage from Zoe, she later discovers it and throws everyone out of the Vic as a result. But what is on the video?

Elsewhere, Zoe accuses Kat for smashing a photo of the pair, but when she denies it, she later accuses Vicki of being responsible but Anthony steps in to calm her down.

Halloween week continues to get worse, as Zoe grows increasingly paranoid that someone is out to get her and accuses Anthony after arguing with him earlier in the week. He shares his concerns for Zoe with Kat, but it’s unclear whether she believes him. But what are the concerns?

It’s not all that’s kicking off in The Vic, as Kat overhears Vicki speaking to Ross – and makes a decision.

Suki and Eve are still looking to adopt, and despite Suki holding back at first, they go ahead and arrange a meeting with an adoptive family. However, the timing couldn’t be worse as Avani, Ravi, Priya and Nugget return from their holiday, as chaos ensues.

However, it seems like they later come round to the idea as they try to support the couple, who hit another hurdle as Eve panics when she learns she will need a reference from her mum to proceed.

Ravi has other problems on his hands, as he’s left feeling guilty about lying to Priya following their family holiday. He later meets with Okie and hands the business over to him after he assures him that Harry and Kojo have been released. But have they?

Like this story? For more of the latest showbiz news and gossip, follow Mirror Celebs on TikTok, Snapchat, Instagram, Twitter, Facebook, YouTube and Threads.

Nvidia (NVDA -0.31%) stock has been a fantastic performer over the short and long terms. Shares of the artificial intelligence (AI) chip and infrastructure leader have returned 1,440% and 26,960% over the last three years and decade, respectively, as of Friday, Oct. 17. These performances have transformed a $1,000 investment into $15,400 and $270,600, respectively. By comparison, one grand invested in the S&P 500 index has turned into $1,894 in three years and $3,910 in 10 years.

With Nvidia stock’s eye-popping gains, it’s easy to wonder if you missed your chance at buying shares. The answer is no, in my view, as Nvidia stock has many years of great performance left.

There are two reasons for my optimism. First, the AI revolution is still in its early stages. Second, Nvidia’s graphics processing units (GPUs) are the gold standard for processing AI workloads, and there is no indication that they’re in danger of losing that status, at least not for some time.

Below are my prediction ranges (a best case and a base case) for Nvidia stock’s price in about five years, or by the end of 2030. My estimates are built upon data provided by Nvidia’s CEO and CFO on the company’s most recent quarterly earnings call. (Nvidia’s earnings calls are chock-full of valuable data — and listening to them is worth the time.)

Image source: Getty Images.

Nvidia CFO: “We see $3 [trillion] to $4 trillion in AI infrastructure spend by the end of the decade.”

From CFO Colette Kress’ remarks on Nvidia’s fiscal second-quarter earnings call in late August:

We are at the beginning of an industrial revolution that will transform every industry. We see $3 [trillion] to $4 trillion in AI infrastructure spend by the end of the decade. The scale and scope of these [AI infrastructure] buildouts present significant long-term growth opportunities for Nvidia Corporation. [Emphasis mine.]

Numbers from CEO: 58% to 70% of an AI faciility’s cost goes to Nvidia

From CEO Jensen Huang’s remarks on the fiscal Q2 earnings call:

And so our contribution … is a large part of the AI infrastructure. Out of a gigawatt AI factory, which can go [cost] anywhere from … $50 to $60 billion, we represent about $35 [billion] plus or minus of that.

Huang is saying that a typical 1-gigawatt AI data center or other AI facility costs about $50 billion to $60 billion to build, and that about $35 billion of that cost is for Nvidia’s AI technology.

So, about 58% ($35 billion divided by $60 billion) to 70% ($35 billion divided by $50 billion) of the total cost of an AI facility is the cost of buying Nvidia’s tech.

Putting together the data provided by Nvidia’s CFO and CEO

Kress said the company expects total global AI infrastructure spending to be $3 trillion to $4 trillion annually by the end of the decade. (It’s not clear whether she meant by 2029 or 2030, but I’m using 2030 to be conservative. Moreover, Nvidia just published a presentation that uses the $3 trillion to $4 trillion projection by 2030.)

Of that $3 trillion to $4 trillion, Nvidia stands to take in 58% to 70% of it, according to Huang. This assumes that percentage range remains about the same. This will be part of my “best-case estimate,” but I am also going to calculate a “base-case estimate” that assumes Nvidia’s percentage of total AI infrastructure spend declines moderately, by 20%. This will account for the potential for increased competition by chipmaker Advanced Micro Devices (AMD) and others.

Revenue from AI infrastructure spend that Nvidia should generate in about five years:

• Best-case estimate: 58% to 70% of $3 trillion to $4 trillion = $1.74 trillion to $2.8 trillion.
• Base-case estimate: 46% to 56% (I chopped 20% off the percentages in the best-case range) of $3 trillion to $4 trillion = $1.38 trillion to $2.24 trillion.

Calculating my Nvidia stock price target ranges for 2030

Now, I’ll use the numbers calculated above to come up with price target ranges for Nvidia stock in about five years. Two additional data points needed:

• Nvidia stock’s closing price on Oct. 17: $183.22.
• Nvidia’s AI-driven data center revenue was $41.1 billion (of its total revenue of $46.7 billion) in its most recently reported quarter (fiscal Q2, ended July 27). This equates to an annual run rate of $164.4 billion ($41.4 billion X 4).

Nvidia stock best-case price target in five years: $1,942 to $3,115.

1. Nvidia’s projected AI infrastructure revenue in five years: $1.74 trillion to $2.8 trillion.
2. Nvidia’s AI infrastructure revenue currently: annual revenue run rate of $164.4 billion.
3. Step 1 numbers divided by Step 2 number: 10.6 to 17.0. This means Nvidia’s annual data center revenue should increase by 10.6 to 17.0 times in 5 years.
4. Nvidia stock price at market close on Oct. 17: $183.22.
5. Valuation assumption: I am assuming that Nvidia stock’s earnings-based valuation will remain the same in five years. That’s because its valuation is reasonable now given its growth and projected growth dynamics, in my view. (Trailing and forward price-to-earnings (P/E) ratios are 51.5 and 28.7, respectively.)
6. The above assumption means the conversion from revenue growth (Step 3 numbers) to stock price growth will be straightforward.
7. $183.22 X 10.6 to 17.0.
8. Stock price target in five years: $1,942 to $3,115.

Nvidia stock base-case price target in five years: $1,300 to $2,125.

1. Nvidia’s projected AI infrastructure revenue in five years: $1.38 trillion to $2.24 trillion.
2. Nvidia’s AI infrastructure revenue currently: annual run rate of $164.4 billion.
3. Step 1 numbers divided by Step 2 number: 8.4 to 13.6. So, Nvidia’s annual data center revenue should increase by 8.4 to 13.6 times in five years.
4. Nvidia stock price at market close on Oct. 17: $183.22.
5. Valuation assumption: I am assuming that Nvidia stock’s earnings-based valuation remains the same in five years.
6. The above assumption means the conversion from revenue growth (Step 3 numbers) to stock price growth would be straightforward.
7. BUT, I’m going to assume that the data center platform’s profitability declines modestly due to the possibility of increased competition. I can adjust the factors in Step 3 down by 15% to account for this since I had been assuming a straightforward relationship between revenue, earnings, and price target growth.
8. [8.4 to 13.6] x [85%] = 7.1 to 11.6.
9. $183.22 X 7.1 to 11.6.
10. Stock price target in five years: $1,300 to $2,125.

Why there is upside to both these target ranges

I only considered Nvidia’s data center market platform growth when calculating my price targets. That’s because this AI-driven platform accounts for the vast majority of the company’s revenue and earnings — and stock price gains are usually driven by earnings growth.

In the first half of the current fiscal year, the data center platform accounted for 88% of Nvidia’s total revenue. And it accounted for an even higher percentage of total earnings. That percentage is unknown because management does not break out earnings or other profitability metric by platform. But management has said that its data center platform is more profitable than its overall business. So, the data center platform probably accounts for in the mid-90% of total earnings.

If one or more of the company’s other market platforms (gaming, professional visualization, and auto) grows revenue and earnings tremendously over the next five years, that should be upside for my price targets. The auto platform has the potential to be a big winner over the next five years due to driverless vehicles steadily progressing toward legality. Nvidia’s end-to-end AI-powered driverless tech platform is widely adopted.

Caveat about the economy and overall stock market performance

My estimates assume the U.S. economy remains in at least a minimal growth mode and the stock market remains in a bull market for much of the next five years.

I don’t think a mild and relatively brief recession would derail my Nvidia stock price targets, at least not by much, but a deep or long-lasting recession and long-lasting bear market would almost surely derail them.

My wrap-up

Nvidia stock best-case price target in five years: $1,942 to $3,115. (Of course, the stock would most likely split before it reached these levels, but the underlying growth remains the same.) This equates to Nvidia’s stock price increasing by 10.6 to 17.0 times. It also equates to a compound annual growth rate (CAGR) of 60% to 76%.

Nvidia stock base-case price target in five years: $1,300 to $2,125. This equates to Nvidia’s stock price increasing by 7.1 to 11.6 times. It also equates to a CAGR of 48% to 63%.

Taken together, the Nvidia stock price target range in five years is $1,300 to $3,115.

YORBA LINDA — Not all the President’s men were there, but enough to make a strong showing.

Former Cabinet members Henry A. Kissinger and Richard G. Kleindienst were in attendance. So were Watergate figures Maurice Stans, once finance chairman for Nixon’s re-election committee, and G. Gordon Liddy, the convicted mastermind of the bungled burglary.

Former Nixon spokesman Ron Ziegler and Counsel Chuck Colson also paid their respects. Jo Horton Haldeman, the widow of Nixon’s chief of staff, H. R. Haldeman, was in the audience. And so was Rose Mary Woods, the secretary who took responsibility for creating the infamous 18 1/2-minute gap on a critical Watergate tape.

But so was George McGovern, who was among the first named on Nixon’s infamous “enemies list,” and whose presence on the funeral’s exclusive guest list spoke more eloquently of reconciliation than some who eulogized the 37th President.

“This has been a reconciling day for me and, I think, for a lot of other people,” said McGovern, who as the Democratic nominee waged an acrimonious political fight against Nixon for the presidency in 1972 and was buried in a electoral landslide. “I kind of really feel like I’ve lost an old friend, even though we were bitter political enemies through the years.”

Colson, who spent seven months in prison for obstructing justice during the Watergate conspiracy, also spoke of healing.

“I think he achieved in death something he never quite achieved in life–to bring the nation together,” said Colson. “Maybe the wounds of Watergate are now, twenty-some years later, finally healed.”

The guest list for the funeral cut across a broad spectrum of Nixon’s political and private life: Republicans and Democrats, friends and former enemies, family members, entertainers, sports figures, religious leaders and many, many longtime staffers.

At the Yorba Linda Community Center, where many of the guests had gathered before the funeral, the Nixon faithful–wearing either purple or yellow “RN” badges that were their tickets to the funeral–embraced like long-lost friends.

Liddy and Howard H. Baker Jr., the former Tennessee senator and ranking minority member of the Judiciary Committee that held televised hearings on Watergate, rode over to the funeral site together on a shuttle.

Robert H. Finch, who served under Nixon as secretary of health, education and welfare, smiled and shook hands with Donald H. Rumsfeld, the secretary of defense under President Gerald R. Ford.

“I think the Nixon family can feel very, very good about what he accomplished, and who all is here,” Rumsfeld said. “A broad cross-section of the world is recognizing him for what he did.”

From across the Nixon years came Alexander M. Haig Jr., Haldeman’s replacement as chief of staff, and Caspar W. Weinberger, former secretary of health, education and welfare who became Ronald Reagan’s defense secretary. James R. Schlesinger, Nixon’s defense secretary, and William P. Rogers, his secretary of state, joined a few dozen others from the Nixon presidency, including political columnist and presidential aspirant Patrick J. Buchanan, security adviser Brent Scowcroft and former Atty. Gen. Elliot L. Richardson.

Even former Vice President Spiro T. Agnew, who before Nixon’s resignation left office himself in disgrace under a criminal indictment, and his wife, Judy, attended the funeral. Agnew had asked Julie Nixon Eisenhower if he would be welcome at the funeral and was assured that his presence was important. On Wednesday, he was greeted warmly.

“I’m here to pay my respects for (Nixon’s) accomplishments,” said Nixon’s vice president, who resigned in 1973 after pleading no contest to tax evasion. “It’s time to put aside 20 years of resentment, which is what I’m doing at this moment.”

More than 100 members of Congress were on the guest list, including 47 U.S. senators, House Speaker Thomas Foley (D-Wash.), Senate Democratic Leader George Mitchell of Maine and the California congressional delegation.

Representatives from across the globe, from Angola to Argentina and Singapore to Seychelles, also were in force. In all, 86 countries sent dignitaries to pay respects.

But Nixon had other admirers, too, who had little if anything to do with politics. Comedians Bob Hope and Red Skelton and actor Buddy Ebsen attended with their wives. Former Rams star Roosevelt Grier also attended.

“It was a good send-off to Richard Nixon and his future life,” said Ebsen, who also attended Pat Nixon’s funeral last summer. “There was a feeling of togetherness. It stepped across party lines and it was a beautiful happening. We need that to get all of us together.”

Said Hope: “He was a hell of a guy. Playing golf, you learn a lot about a guy’s character. His was a great character.”

The guest list was indeed impressive, with names like Walter Annenberg, George Argyros, Jesse Helms, William Lyon, Ashraf Pahlavi, Bebe Rebozo, Nelson Rockefeller, Henry Segerstrom, Mary Roosevelt and James B. Stockdale sprinkled throughout.

Orange County also had a large contingent, including a gathering of state senators and assemblymen. All five Orange County supervisors were also invited. The local Republican Central Committee distributed 100 tickets to elected officials, volunteers and others affiliated with the local party, chairman Thomas A. Fuentes said, and just about everyone who wanted in got in.

“It was dignified, sentimental and memorable,” Supervisor Harriett M. Wieder said. “I think it was Kissinger who said that when you look at the quality of a person and whether they lived well, you look at the entirety of the life. That’s how I remember Richard Nixon.”

Mourners spoke about healing and the inevitability that Nixon, in death, may finally have been absolved of his perceived sins.

Former Vice President Dan Quayle joked that Kissinger had captured it perfectly when he predicted that Nixon “would’ve liked to have read and reread all the favorable reviews that he’s had this last week.”

The Rev. Robert Schuller said he was pleased to see those reviews.

“I’m very grateful to God for the respect that’s been shown (Nixon) this last week,” said Schuller. “Society does not forgive. People tend to hold on to their hurts.”

But since Nixon’s death, Schuller said, the public is beginning to “recognize Nixon’s greatness.”

Times staff writers Alicia DiRado, Doreen Carvajal and Eric Lichtblau contributed to this report.

On the Guest List

The official U.S. delegation, members of Congress and the foreign delegation attending the funeral of Richard Nixon, according to the White House:

U.S. PRESIDENTS AND THEIR WIVES

* Bill and Hillary Clinton

* George and Barbara Bush

* Ronald and Nancy Reagan

* Jimmy and Rosalynn Carter

* Gerald and Betty Ford

NIXON ADMINISTRATION OFFICIALS

* Spiro T. Agnew, former vice president

* Peter J. Brennan, former labor secretary

* Frederick B. Dent, former commerce secretary

* Elliot L. Richardson, former attorney general and health, education and welfare secretary

* William P. Rogers, former secretary of state

* Henry A. Kissinger, former secretary of state

* James R. Schlesinger, former defense secretary

* Caspar W. Weinberger, former HEW secretary

* William B. Saxbe, former attorney general

* Alexander M. Haig Jr., former chief of staff

* Brent Scowcroft, former Nixon aide

* Herb Stein, former economic adviser

* James T. Lynn, former HUD secretary

* Charles W. Colson, former special counsel to the President

* Dwight L. Chapin, former deputy assistant to the President

* Kenneth H. Dahlberg, former Midwest finance chairman of the Committee for the Re-election of the President

* Richard G. Kleindienst, former U.S. attorney general

* Ronald L. Ziegler, former press secretary

* G. Gordon Liddy, former White House aide

* Herbert W. Kalmbach, personal attorney to Nixon

* Robert H. Finch, former secretary of health, education and welfare

* Patrick J. Buchanan, speech writer

* Rose Mary Woods, former secretary

* Lyn Nofziger, former staff member

CLINTON ADMINISTRATION OFFICIALS

* Defense Secretary William Perry

* Army Gen. John Shalikashvili, chairman of the Joint Chiefs of Staff

* Thomas F. (Mack) McLarty, White House chief of staff

* Strobe Talbott, deputy secretary of state

* Carol Browner, Environmental Protection Agency administrator

* Phil Lader, White House deputy chief of staff

* Dee Dee Myers, White House press secretary

* David Gergen, counselor to the President

* Bruce Lindsey, senior presidential adviser

* W. Anthony Lake, national security adviser

* Lloyd Cutler, White House special counsel

* Robert Rubin, director of National Economic Council

* Mark Gearan, White House communications director

* Pat Griffin, White House congressional affairs lobbyist

MEMBERS OF CONGRESS

More than 100 members were on the list. Among them:

* House Speaker Thomas Foley, D-Wash.

* Senate Democratic Leader George Mitchell, D-Me.

* Sen. Minority Leader Bob Dole, R-Kan.

* Sen. Daniel Patrick Moynihan, D-N.Y.

* Sen. Barbara Boxer, D-Calif.

* Sen. John Danforth, R-Mo.

* Sen. Pete Domenici, R-N.M.

* Sen. Dianne Feinstein, D-Calif.

* Sen. Phil Gramm, R-Tex.

* Sen. Orrin Hatch, R-Utah

* Sen. Jesse Helms, R-N.C.

* Sen. Kay Bailey Hutchison, R-Tex.

* Sen. Richard Lugar, R-Ind.

* Sen. John McCain, R-Ariz.

* Sen. Sam Nunn, D-Ga.

* Sen. Bob Packwood, R-Ore.

* Sen. Alan Simpson, R-Wyo.

* Sen. Strom Thurmond, R-S.C.

* House Democratic Leader Richard A. Gephardt, D-Mo.

* House Republican Leader Robert Michel, R-Ill.

* Rep. Newt Gingrich, R-Ga.

* Rep. Carlos Moorhead, R-Glendale

* Rep. Bill Thomas, R-Bakersfield

* Rep. David Dreier, R-San Dimas

* Rep. Duncan Hunter, R-El Cajon

* Rep. Robert K. Dornan, R-Garden Grove

* Rep. Elton Gallegly, R-Simi Valley

* Rep. Wally Herger, R-Rio Oso

* Rep. Christopher Cox, R-Newport Beach

* Rep. Jay C. Kim, R-Diamond Bar

* Rep. Howard P. McKeon, R-Santa Clarita

* Rep. Ed Royce, R-Fullerton

OTHER INVITED GUESTS

* The Rev. Billy Graham, officiant

* Lynda Johnson Robb, daughter of former President Lyndon B. Johnson

* Sen. Charles Robb, D-Va.

* George McGovern, Nixon’s 1972 presidential opponent

* Bob Strauss, chairman of the Democratic National Committee when Nixon was President

* Vernon Jordan, former president of the National Urban League

* Pete Wilson, California governor

* Kenneth M. Duberstein, former White House chief of staff

* Dwayne Andreas, former ambassador to the People’s Republic of China

* Buddy Ebsen, actor

* Bob Hope, comedian

* Red Skelton, comedian

* Rupert Murdoch, media executive

* Thomas F. Riley, O.C. supervisor

* Harriett M. Wieder, O.C. supervisor

* Gaddi H. Vasquez, O.C. supervisor

* William G. Steiner, O.C. supervisor

* Roger R. Stanton, O.C. supervisor

* Thomas A. Fuentes, O.C. Republican Party chairman

* Dan Quayle, former vice president

* Walter F. Mondale, former vice president

* Walter Annenberg, former U.S. ambassador

* George Argyros, O.C. businessman

* Reza and Ashraf Pahlavi, self-proclaimed Shah of Iran and his aunt

* Richard Riordan, L.A. mayor

* Jack Kemp, former secretary of housing and urban development

* Bebe Rebozo, Nixon friend

* Henry Segerstrom, O.C. businessman

* James B. Stockdale, retired vice admiral

* The Rev. Robert H. Schuller

* Howard H. Baker, former Senate minority leader, chief of staff in Reagan Administration and the ranking minority member on the Senate Watergate Committee

* Ji Chaozhu, United Nations undersecretary general from China

* James A. Baker III, former secretary of treasury and state in Reagan and Bush administrations

FOREIGN COUNTRIES REPRESENTED

Angola, Argentina, Australia, Azerbaijan, Bahamas, Bangladesh, Belgium, Bosnia-Herzegovina, Brunei, Cambodia, Cameroon, Canada, Chile, China, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Ethiopia, Fiji, Finland, France, Germany, Greece, Guatemala, Honduras, Hungary, Indonesia, India, Ireland, Israel, Jamaica, Japan, Jordan, Kenya, Korea, Latvia, Lebanon, Liberia, Lithuania, Luxembourg, Macedonia, Maldives, Monaco, Morocco, Mozambique, Nepal, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Paraguay, Philippines, Poland, Portugal, Qatar, Romania, Russia, Senegal, Seychelles, Singapore, Slovakia, Slovenia, Spain, Sri Lanka, Sweden, Switzerland, Suriname, Syria, Taiwan, Thailand, Tanzania, Togo, Tunisia, Turkey, United Kingdom, Uruguay, Venezuela, Yemen, Zambia.

Sources: Los Angeles Times, Associated Press

They remain two of the NBA’s biggest stars, and whenever LeBron James and the Lakers face Stephen Curry and the Golden State Warriors it is must-see TV.

The Lakers and Warriors will open the regular season against each other Tuesday night at Crypto.com Arena, but James will not play because he’s dealing with a sciatica nerve injury on his right side.

Nevertheless, the rivalry between the Lakers and the Warriors will continue to shine.

“Obviously, going against Steph is very exciting,” Lakers star Luka Doncic said after practice Monday. “It’s going to be tough. I don’t know if it’s a rivalry, but it’s for sure an exciting game.”

When the Lakers and Warriors played on Christmas last season, James and Curry put on a show.

James had 31 points and 10 assists in the Lakers’ victory and Curry had 38 points.

The two had proved again that they can captivate sports fans.

“Lakers against Warriors has been intense,” Lakers forward Rui Hachimura said. “We’ve always played pretty intense games, playoff-like. So this is going to be [the same]. … So even with LeBron out, it’s going to be a great game. Of course, we got to compete and we’re trying to get this dub [win].”

The James-Curry rivalry reached its zenith from 2015-2018, when their teams met in the NBA Finals four consecutive years. James, who was playing for the Cleveland Cavaliers during those years, won just one championship against Curry.

Warriors star Stephen Curry shoots over the Lakers’ Luka Doncic during a game on April 3.

(Michael Owens / Getty Images)

“Steph-LeBron rivalry, whatever you want to call it, matchup has always been awesome — for whatever teams they’ve been on and for the league itself,” Lakers coach JJ Redick said. “I know we had some great games against those guys last year. Being a part of that was really cool. I think when you’re the Lakers and you play on national TV more than any other team, you’re generally going to play against great teams and that’s what tomorrow is. I think it’s just a general excitement about the start of the year. I don’t know if there’s anything extra to that.”

With James out, Doncic said there is “nothing specifically” he has to do extra.

“I just try to win every game,” Doncic said. “Obviously, it’s going to be hard with LeBron out. But when he’s ready to return, he’s going to help us a lot for sure.”

Doncic will have help from Austin Reaves, Deandre Ayton, Hachimura, Gabe Vincent and the rest of the Lakers.

Curry will have help from longtime teammate Draymond Green and Jimmy Butler.

But a lot of eyes will be on Curry, someone Doncic immensely respects.

“For sure. As an opponent, obviously [it is] very hard to guard him,” Doncic said. “He’s moving all the time. He can shoot from anywhere, so I feel like it’s hard but always exciting. Going against a player like that is very exciting.”

Etc.

Redick said James, who is expected to be out until November, did “individual work” during practice Monday. Redick said Lakers backup center Jaxson Hayes (right wrist contusion) was “trending” toward playing Tuesday, as was Bronny James (ankle) and Maxi Kleber (quad).

Oct. 20 (UPI) — A Georgia man was arrested Monday inside a terminal at the Hartsfield-Jackson Atlanta International Airport after allegedly threatening on social media to “shoot it up.”

Atlanta Police arrested Billy Cagle, 49, at the airport and found an AR-15 assault rifle with 27 rounds of ammunition inside his pickup truck, which was parked at the airport, according to police chief Darin Schierbaum. Schierbaum said it was Cagle’s family who alerted officers that he had been making threats on social media and had a gun.

Cartersville Police Capt. Greg Sparacio told reporters the family alerted them Monday morning that the suspect was “en route to somewhere in the Atlanta area,” likely the airport, and he “had the intention to do harm to as many people as he could.”

The family provided information about the vehicle Cagle was traveling in, as well as a photo. Cagle was taken into custody after entering the airport terminal at 9:31 a.m. EDT. He did not have any weapons on him, but police found the rifle in his truck.

“I do believe he was likely to use that weapon inside the crowded terminal,” Schierbaum told reporters. “Because of the community — in this case, the family — as well as the joint collaboration of law enforcement, a tragedy was indeed averted.”

Cagle is facing multiple charges, including terroristic threats, criminal attempt to commit aggravated assault, possession of a firearm during the commission of a felony and possession of a firearm by a felon. He was convicted of possession of marijuana 20 years ago, according to the Georgia Department of Corrections.

Southwest Airlines has announced that it is changing its policy for passengers who cannot fit within the armrests of their seat in a move that has split opinion

A major US airline will soon require travellers who cannot fit within the armrests of their seat to purchase an additional one in advance.

The new rule—part of a series of recent changes Southwest Airlines is implementing—takes effect on January 27, the same day it begins assigning seats. It has proved particularly controversial. While some love the idea and see it as a fair one, others have argued it will make things worse for all passengers.

At present, plus-size passengers can either purchase an extra seat beforehand with the possibility of receiving that money back later, or they can request a complimentary additional seat at the airport. Under the carrier’s updated policy, a refund remains possible but is no longer guaranteed.

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In a statement on Monday, Southwest said it is revising some of its policies as it prepares for assigned seating next year.

“To ensure space, we are communicating to Customers who have previously used the extra seat policy that they should purchase it at booking,” the statement said.

It represents the latest modification at Southwest, which had long been recognised for allowing its passengers to choose their own seats after boarding the aircraft, and for permitting their bags to fly for free, which ended in May. Those benefits were crucial to distinguishing the budget carrier from its competitors.

Southwest says it will still reimburse a second ticket under its new policy for extra seating if the flight isn’t fully booked at the time of departure, and if both of the passengers’ tickets were bought in the same booking class.

The passenger also needs to request the refund within 90 days of the flight. Under the new policy, passengers who require an extra seat but fail to purchase one in advance will be obliged to buy one at the airport.

If the flight is fully booked, they will be rebooked onto another flight.

Jason Vaughn, an Orlando-based travel agent who shares theme park reviews and travel advice for plus-size individuals on social media and his website, Fat Travel Tested, believes this change will affect travellers of all sizes. He said that Southwest’s current policy made flying more comfortable for plus-size passengers while ensuring everyone had enough room in their seats.

“I think it’s going to make the flying experience worse for everybody,” he commented on the new rule.

Vaughn described the change as another disappointment for loyal Southwest customers like himself, comparing it to the recent logo change by Cracker Barrel that upset some of the restaurant’s fans.

“They have no idea anymore who their customer is,” he said about the airline. “They have no identity left.”

On the Southwest Airlines subreddit, some criticised the policy, arguing that it would penalise those with different sized bodies. One person wrote: “I have broad shoulders. My issue with seats has nothing to do with me being fat or lazy. Seat size, aisle size, foot space, it’s all shrinking. Be careful, you cheer this too much you may find youself kicked off for not being small enough.”

Others were more positive about the policy. “It’s fair. Being way overweight and encroaching on others, especially on long flights, is just awful for everyone,” one person contributed to the discussion. Another added: “Now let’s do the same for men who spread their legs and feet into others’ footwells and space too.”

The airline has been struggling recently and is facing pressure from activist investors to increase profits and revenue. Last year, it announced plans to charge customers extra for additional legroom and offer overnight flights.

Sweden has moved ahead with plans for a new-generation combat aircraft, with defense firm Saab having received an order for continued conceptual studies for future fighter systems. At this stage, however, it remains unclear if there will definitely be a crewed successor to the Swedish Air Force’s current Gripen fighter, or if the ongoing studies will lead to a combat air ‘ecosystem’ comprised of different types of drones. A combination of crewed and uncrewed platforms remains possible, too.

The Swedish Defense Materiel Administration (FMV) recently awarded Saab with the contract, worth around $276 million and covering the period from 2025 to 2027. As well as the FMV, Saab will work with the Swedish Armed Forces, the Swedish Defense Research Agency, GKN Aerospace, and other unnamed industry partners. The latest contract builds on a previous one signed in March 2024.

The new order includes conceptual studies for both crewed and uncrewed solutions as part of a ‘system of systems’ approach, as well as technology development, and undisclosed demonstrators.

“This order sets the next step on our joint journey in delivering innovative solutions to meet future operational needs of the Swedish Armed Forces and other customers,” said Lars Tossman, head of Saab business area Aeronautics. This statement confirms that Saab is also looking to export whatever platforms ultimately emerge from this development effort. Export orders would help to keep the program financially viable, a challenge we have discussed before. On the other hand, Sweden is in a somewhat unique position in terms of export opportunity, as Collaborative Combat Aircraft (CCAs) and uncrewed combat air vehicles (UCAVs) become items in demand with many air arms.

Within Saab, the next-generation combat aircraft program is known as the Future Combat Air System (FCAS). Confusingly, the same nomenclature is also used by rival British and pan-European future combat air initiatives. While they are all different, it’s worth noting that Saab was also previously involved with the British FCAS program, before stepping away from it.

Meanwhile, all these FCAS efforts feature a crewed fighter at the center, as well as a range of supporting drones and other advanced technologies, as part of a system of systems. The British and pan-European efforts are, however, working on a more aggressive timeline than Sweden’s.

Late last year, Saab presented various concepts related to its FCAS initiative, including a potential new-generation crewed fighter and a series of drones intended to work alongside it.

A more unusual aspect of these interrelated concepts is Saab’s use of shared components across multiple crewed and uncrewed platforms. This includes a concept for commonality between the non-stealthy Gripen E crewed fighter and a stealthy supersonic uncrewed platform.

Leveraging existing technologies should help reduce program costs, accelerate development times, and reduce the maintenance and logistics burden once such systems are in service. However, this is just one possible approach, and, at this early stage, Sweden seems to be keeping its options open.

This would be in keeping with the overall ‘wait and see’ policy that Sweden appears to be adopting as it works out its next-generation air combat requirements.

More broadly, however, what we have seen so far from Saab suggests that the overall FCAS program puts uncrewed platforms in a more central position that the other European FCAS initiatives, in which drones are seen rather more as adjuncts to crewed fighters. Bearing in mind the potential pitfalls to developing sixth-generation crewed fighters from scratch, the Swedish approach might prove to be a safer one, long term.

Saab has assembled some important experience in developing advanced drones, with its most prominent examples including the stealthy Swedish Highly Advanced Research Configuration (SHARC) experimental vehicle. The aim of this project was to design a drone configuration suitable for attack missions, while combining low cost and low signatures. The drone was first flown in 2000.

There was also the Flying Innovative Low-Observable Unmanned Research (FILUR) vehicle, a low-signature demonstrator first flown in 2005. According to Saab, FILUR’s main objective was “to show the tactical importance of stealth technology applied on aerial vehicles, to gain experience and to set a foundation for stealth requirements for future aerial systems and air-surveillance systems.”

These studies were followed by involvement in the French Dassault nEUROn UCAV demonstrator.

Since then, Saab has shown a wind-tunnel model of a supersonic, stealthy ‘loyal wingman’ drone concept, a design that you can read more about here.

At the other end of the scale, Saab’s Peter Nilsson, head of Advanced Programs at the company, has talked about plans for drones that “will only be mock targets and [will] get shot down, but who might help so that you succeed in your mission.” This points to a vision for attritable drones — ones that are inexpensive enough to be willing to lose on high-risk missions while being capable enough to be relevant for those missions.

Last year, Saab revealed studies of its FCAS-related F-series, which include a crewed future fighter, a subsonic uncrewed platform with a weight of no more than five tons, a supersonic uncrewed platform with a weight of more than five tons, and a low-cost subsonic uncrewed platform with a weight of less than one ton. The F-series also includes the Gripen E crewed multirole fighter that’s now in production for Sweden and Brazil. The Gripen E has also been ordered by Thailand and selected as Colombia’s next fighter jet.

It’s even conceivable that Sweden might forego a crewed fighter and pursue a future combat aircraft ‘ecosystem’ that comprises only different categories of drones.

At the same time, it’s noteworthy that Saab specifically states that crewed solutions are part of the ongoing conceptual studies.

Overall, the F-series represents just one of the options, or potential lines of development that Saab is studying as it looks to bring about a Gripen successor. It would also be feasible for Sweden to retain the Gripen E and pair it with stealthy drones indeed. We have discussed in the past how CCAs are arguably even more relevant to so-called ‘generation 4.5’ fighters than fifth-generation ones.

Pairing Gripen E with stealthy CCAs would drastically increase the survivability and tactical flexibility of the crewed fighters, with the drones acting as a powerful force multiplier. Sweden could also build UCAVs that could undertake many deep penetrating missions separate from a CCA. Such a combined CCA and penetrating UCAV concept would allow more mission areas to be covered without developing a new fighter.

It’s also still possible that Sweden might choose to acquire an off-the-shelf solution, perhaps by joining one of the other FCAS initiatives.

However, that would almost certainly bring to an end Sweden’s long history of domestic combat aircraft development. Regardless, with a stated goal to field a successor system to the Gripen around 2050, the latest contract award ensures that conceptual work in this direction will continue and, hopefully, more details of Sweden’s next-generation combat air program will emerge soon.

Contact the author: [email protected]