The Inference Report

Computer use agents (CUAs) have shown strong potential for automating complex digital workflows, yet their training remains constrained by costly live environment interaction and limited high-quality supervision. Existing filtered behavior cloning pipelines suffer from imitation bottlenecks, including distribution shift from the expert demonstration and the absence of negative learning signals. Meanwhile, standard trajectory-level reinforcement learning struggles with sparse rewards, ambiguous credit assignment, and high infrastructure costs for long-horizon GUI interaction. In this work, we propose PRO-CUA, a process-reward optimization framework for training CUAs with iterative step-level reinforcement learning. PRO-CUA decouples on-policy environment interaction from policy optimization: the current policy collects states through live rollouts, generates diverse candidate actions for each state, receives step-level feedback from a process reward model (PRM), and is optimized with group-relative advantages. This design enables dense and flexible credit assignment without relying on golden answers or offline expert trajectories, while reducing distribution shift by training on the agent's own execution states. Experiments on live web benchmarks demonstrate the effectiveness of PRO-CUA and the reliability of PRM-guided step-level training.

Masked diffusion language models (MDMs) uniquely support any-order generation, with confidence-based decoding currently serving as the de facto standard inference policy. To optimize for this, recent training schemes attempt to align training mask patterns directly with those observed during generation. However, we argue that confidence-based decoding is inherently misaligned with the logical-flow trajectories required for complex reasoning, and that confidence-aligned training actively entrenches this misalignment. We make this concrete using multi-digit addition, where the decoding strategy prematurely predicts locally easy digits before resolving their long-range dependencies, producing high-confidence errors on challenging inputs. While traditional random masking keeps the failure rate low on this challenging tail, confidence-aligned training amplifies the error rate by an order of magnitude. Across five distinct reasoning tasks, this same pattern emerges with task-dependent severity: confidence-based decoding induces failures on highly complex inputs, and confidence-aligned training exacerbates them. In contrast, random masking -- despite its perceived inefficiency -- robustly preserves the reasoning-trajectory conditionals essential for solving the challenging tail.

Agentic AI systems are increasingly being explored as production infrastructure: they reason over multiple steps, call tools, act through workflows, and adapt through memory and feedback. These systems create governance challenges that are not fully captured by traditional software or predictive ML technical debt. We define Agentic Technical Debt as the accumulated liability created when prompts, memory, tool schemas, orchestration graphs, control policies, and observability routines are patched together faster than they can be validated, standardized, and governed. We define Stochastic Tax as the recurring operating burden of keeping probabilistic agent behavior within acceptable bounds. The distinction matters: debt is a stock of design and governance liability, while the tax is a flow of operating cost that arises because stochastic agents act through tools and workflows. We outline how managers can make both visible through lightweight dashboards and governance controls.

Question answering (QA) is a core challenge in AI, particularly for complex queries requiring multi-hop reasoning across documents, or symbolic operations like aggregation or exhaustive listing. Retrieval-augmented generation has become the dominant approach to QA, with recent graph-based variants addressing part of these issues by organizing knowledge to better support compositional questions. However, most textual graph-based RAG methods still lack the structure needed for symbolic operations useful to answer complex questions reliably. This motivates symbolic graph-based approaches, which extract knowledge graphs (KGs) whose relations are logic predicates that enable SQL-like querying. Yet these pipelines typically use LLMs for KG extraction, which can introduce consistency issues, where extracted facts may violate commonsense ontology constraints. We propose a neuro-symbolic framework for ontology-grounded KG construction combining open-domain extraction, embedding-based canonicalization of types and predicates, and targeted LLM-based correction of ontology violations. By deferring corrections to a post-extraction stage, our method avoids repeated LLM calls, substantially reducing token usage while improving KG consistency and preserving downstream QA quality. Finally, we show that the extracted KGs are well suited for symbolic querying by measuring the occurrence of SPARQL graph patterns.

DeFi investment agents, systems that use AI for autonomous on-chain trading, have attained over USD 3 billion in combined token valuations since late 2024. We survey over 1,900 AI-tagged crypto projects, filter to investment-focused agents, and curate 10 representative projects spanning strategy and observability dimensions. We then conduct a deep-dive architectural analysis of two prominent agent frameworks, ElizaOS and Virtuals Protocol, and a quantitative on-chain performance analysis of 11 Solana-based agent treasuries with publicly attributable trading activity, covering 925,323 token holders. We find that current deployments remain early and heterogeneous: (1) in our sample, many projects do not yet provide clear evidence of autonomous trade execution, and developer interviews suggest that many visible deployments remain basic API integrations; (2) agent treasuries retain over USD 30M in paper gains while token holders collectively lost USD 191.7M, with the top 1% of wallets capturing 81.4% of all gains (USD 1.81B); (3) token valuations are weakly connected to treasury fundamentals, with market-cap-to-AUM ratios exceeding 10,000x versus below 1x for established DeFi protocols; and (4) aggregate user gains peaked at USD 2.4B before declining to net losses, with median returns negative on every platform and tokens declining 93% on average from all-time highs. We interpret these outcomes as characteristic of a permissionless, first-generation market in which open infrastructure enables rapid experimentation but also allows naive or speculative agents to launch before robust standards for autonomy, performance, and stakeholder alignment emerge. We therefore propose a maturity framework along three dimensions: autonomous execution, risk-adjusted profitability, and stakeholder alignment, to characterize the gap between current deployments and future investment-grade agent systems.

Chain-of-thought traces from large reasoning models can span tens of thousands of tokens, yet we lack a vocabulary for describing their internal structure. Previous methods developed to analyze chain-of-thought traces are either too rigid or not expressive enough, failing to capture features across domains and models. To remedy this, we develop ReasonOps, an unsupervised, expressive method for annotating chain-of-thought traces, providing succinct universal operators. Using ReasonOps, we analyze 44,662 traces from 12 thinking LLMs spanning 6 families across 8 reasoning benchmarks and discover that they share a common compositional structure: 7 recurring reasoning operators -- discourse-level moves such as backtracking, inferring, and hypothesizing -- that emerge from unsupervised clustering of sentence-initial 3-token pivots. These operators appear across every model family and benchmark domain, confirmed by three independent LLM judges who classify held-out samples at 70 -76% accuracy. We analyze the structure of operators on easy vs. hard problems, revealing that reflective operators are more helpful on hard problems and harm performance on easy problems. Operator sequences are highly model-identifying: a classifier trained on operator distributions alone recovers the source model with macro-AUC, revealing that each model family has a distinctive reasoning fingerprint. Structural operator features predict within-problem answer correctness well above baselines. Classifiers built on these operators reach WP-AUC and on AIME specifically. ReasonOps further enables early quality estimation well before the trace completes: we predict at WP-AUC for only 50% of the trace. The ReasonOps pipeline is unsupervised and annotation-free, enabling deep insights into LLM reasoning traces as well as strong downstream results on model identification and correctness prediction.