intro.ipynb

{
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  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# Welcome to TapeAgents!"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "\n",
    "**TapeAgents** is a framework that leverages a structured, replayable log (**Tape**) of the agent session to facilitate all stages of the LLM Agent development lifecycle. In TapeAgents, the agent reasons by processing the tape and the LLM output to produce new thoughts, actions, control flow steps and append them to the tape. The environment then reacts to the agent’s actions by likewise appending observation steps to the tape.\n",
    "\n",
    "In this tutorial, you will learn:\n",
    "- how to create TapeAgents using the low-level API\n",
    "- run and resume TapeAgents\n",
    "- have one TapeAgent reuse another TapeAgent's tape as training data\n",
    "\n",
    "In upcoming versions of this tutorial, you will also learn: \n",
    "- how to make a team TapeAgent with subagents\n",
    "- how to build TapeAgents using available high-level APIs\n",
    "- how to build a TapeAgent that streams partial steps\n",
    "\n",
    "Other tutorials and examples will cover:\n",
    "- code execution and browser use\n",
    "- finetuning\n",
    "- the TapeAgents apps (Studio and Browser)"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# Setup\n",
    "We're assuming that you already installed the project through the `make setup` or the jupyter notebook is running in the context of the project. If not, please refer to the [README](README.md) for more detailed instructions."
   ]
  },
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   "source": [
    "# Now set the OPENAI_API_KEY environment variable to your API key.\n",
    "\n",
    "import os\n",
    "\n",
    "if \"OPENAI_API_KEY\" not in os.environ:\n",
    "    os.environ[\"OPENAI_API_KEY\"] = \"<your-api-key>\"\n",
    "    # os.environ[\"OPENAI_ORGANIZATION\"] = \"\" # optional\n",
    "today = \"2024-09-17\"  # fixed date for reproducible tests\n",
    "\n",
    "\n",
    "# If you prefer to skip the OpenAI setup and not make any LLM calls, you can use ones from the cache.\n",
    "# it will work instead of the real LLM fine as long as the prompts are not changed.\n",
    "# Uncomment the following lines to use the cache:\n",
    "#\n",
    "# from tapeagents import llms\n",
    "# import os\n",
    "# llm_cache_path = \"tests/res/intro_notebook/tapedata.sqlite\"\n",
    "# if not os.path.exists(llm_cache_path):\n",
    "#     llm_cache_path = f\"../{llm_cache_path}\"\n",
    "# assert os.path.exists(llm_cache_path)\n",
    "# llms._REPLAY_SQLITE = llm_cache_path\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# 1. Your first TapeAgent"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "In this section, we will build the simplest possible \"hello world\" agent. We will then go through all the new concepts that you need to know to understand the code. This section is quite long, but with the solid foundation you acquire here other TapeAgent tutorials will be easy to process.\n",
    "\n",
    "Without further ado, here's the code!"
   ]
  },
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   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Final tape: {\n",
      "  \"metadata\": {\n",
      "    \"id\": \"2b9fa2e3-0c52-4313-8e1a-8d2f8712cffa\",\n",
      "    \"parent_id\": \"78438e2f-f3b2-4c4f-9d03-2dceef688f50\",\n",
      "    \"author\": \"Agent\",\n",
      "    \"author_tape_id\": null,\n",
      "    \"n_added_steps\": 2,\n",
      "    \"error\": null,\n",
      "    \"result\": {}\n",
      "  },\n",
      "  \"context\": null,\n",
      "  \"steps\": [\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"5cc75001-83d8-4267-b4a6-9a0c5ff5edad\",\n",
      "        \"prompt_id\": \"\",\n",
      "        \"node\": \"\",\n",
      "        \"agent\": \"\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"user\",\n",
      "      \"content\": \"Tell me about Vulcan in 3 sentences\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"07f2147e-15a2-41e6-a5c5-62af3be8eb99\",\n",
      "        \"prompt_id\": \"372a416a-ca1a-4502-a33d-b9654c23e205\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"assistant\",\n",
      "      \"content\": \"Vulcan is a fictional planet from the \\\"Star Trek\\\" franchise, known as the birthplace of the Vulcan species, which includes the iconic character Spock. The planet is characterized by a desert-like environment, a rich cultural heritage, and a philosophy centered around logic and emotional suppression. Vulcan society values intelligence, science, and tradition, and its inhabitants often engage in practices such as the \\\"kolinahr,\\\" a discipline aimed at eliminating all emotion.\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"d04627fb-4e87-46ad-a84e-dae3e551911b\",\n",
      "        \"prompt_id\": \"372a416a-ca1a-4502-a33d-b9654c23e205\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"set_next_node\",\n",
      "      \"next_node\": \"main\"\n",
      "    }\n",
      "  ]\n",
      "}\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.agent import Agent, Node\n",
    "from tapeagents.core import Prompt, SetNextNode\n",
    "from tapeagents.dialog_tape import AssistantStep, UserStep, DialogTape\n",
    "from tapeagents.llms import LLMStream, LiteLLM\n",
    "from tapeagents.prompting import tape_to_messages\n",
    "\n",
    "llm = LiteLLM(model_name=\"gpt-4o-mini\")\n",
    "\n",
    "\n",
    "class MainNode(Node):\n",
    "    name: str = \"main\"\n",
    "\n",
    "    def make_prompt(self, agent: Agent, tape: DialogTape) -> Prompt:\n",
    "        # Render the whole tape into the prompt, each step is converted to message\n",
    "        return Prompt(messages=tape_to_messages(tape))\n",
    "\n",
    "    def generate_steps(self, agent: Agent, tape: DialogTape, llm_stream: LLMStream):\n",
    "        yield AssistantStep(content=llm_stream.get_text())  # Generate new step from the LLM output stream.\n",
    "        yield SetNextNode(next_node=\"main\")  # Which node to execute next, more on that later\n",
    "\n",
    "\n",
    "agent = Agent[DialogTape].create(llm, nodes=[MainNode()])\n",
    "start_tape = DialogTape(steps=[UserStep(content=\"Tell me about Vulcan in 3 sentences\")])\n",
    "final_tape = agent.run(start_tape).get_final_tape()  # agent will start executing the first node\n",
    "print(f\"Final tape: {final_tape.model_dump_json(indent=2)}\")\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Now let's learn about tapes, steps, prompts, llm streams, nodes and agents."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "### Tape\n",
    "\n",
    "The fundamental concept of the TapeAgents is the `Tape`, a comprehensive semantic level log of the agent's session. A `Tape` contains a context and a sequence of `Step` objects. As you can see, a TapeAgent runs by adding steps (such as `UserStep` or `AssistantStep`) to the _tape_. This example uses the `DialogTape` tape, which is a basic tape for user-assistant conversations. Let's see what are the possible steps in a `DialogTape`."
   ]
  },
  {
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   "outputs": [
    {
     "data": {
      "text/plain": [
       "tapeagents.core.Tape[Union[DialogContext, NoneType], Union[UserStep, ToolResult, SystemStep, AssistantThought, SetNextNode, Pass, Call, Respond, FinalStep, AssistantStep, ToolCalls]]"
      ]
     },
     "execution_count": 3,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "# We use Python generics to instantiate many different Tape types by\n",
    "# specifying different Context and Step types. In the output of this cell,\n",
    "# look at Union[UserStep, AssistantStep, ...]\n",
    "# for the list of possible step types in the DialogTape.\n",
    "DialogTape\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Some of these steps should be familiar to you. `UserStep`, `AssistantStep`, `SystemStep` and `ToolResult` correspond to `role=user`, `role=assistant`, `role=system` and `role=tool` LLM API messages respectively. `ToolCalls` and `AssistantThought` correspond to assistant messages where the LLM requests a tool call or produces an intermediate thought that is not meant to be shown to the user. `SetNextNode` and `Pass` are TapeAgent's internal step to control which node it should run at the next iteration (more on this below)."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "### Prompt format; LLMs"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "We use the industry-standard \"chat.completions\" prompt format in TapeAgents: a list of user/assistant/system/tool messages plus tool schemas."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 4,
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   "outputs": [
    {
     "data": {
      "text/plain": [
       "{'id': FieldInfo(annotation=str, required=False, default_factory=<lambda>),\n",
       " 'tools': FieldInfo(annotation=Union[list[dict], NoneType], required=False, default=None),\n",
       " 'messages': FieldInfo(annotation=list[dict], required=False, default_factory=list)}"
      ]
     },
     "execution_count": 4,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "# Almost all classes in TapeAgents are Pydantic base models.\n",
    "# This allows easy validation, serialization and instrospection. For example,\n",
    "# here we are able to list all the fields in the Prompt model.\n",
    "Prompt.model_fields\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "The LLMs in TapeAgent take `Prompt` and return an `LLMStream` object. The `LLMStream` object can be used both to fast-forward to the complete response text and to stream partial outputs step by step."
   ]
  },
  {
   "cell_type": "code",
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   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Certainly! Here’s a simple Java program that prints \""
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Hello, World!\" to the console:\n",
      "\n",
      "```java\n",
      "public"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " class HelloWorld {\n",
      "    public static void main(String"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "[] args) {\n",
      "        System.out.println(\"Hello, World!\");\n",
      "    }\n",
      "}\n",
      "```\n",
      "\n",
      "### How to Run the Program:\n",
      "\n",
      "1. **Save the Code"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "**: Copy the above code and save it in"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " a file named `HelloWorld.java`.\n",
      "\n",
      "2. **Compile"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " the Program**: Open a command prompt"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " or terminal, navigate to the directory where you saved the file, and run the following command to compile"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " it:\n",
      "   ```bash\n",
      "   javac HelloWorld.java\n",
      "   ```\n",
      "\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "3. **Run the Program**: After it compiles without errors,"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " run the following command:\n",
      "   ```bash\n",
      "   java HelloWorld\n",
      "  "
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " ```\n",
      "\n",
      "You should see the output:\n",
      "```\n",
      "Hello, World!\n",
      "``` \n",
      "\n",
      "That's it! You"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      " have successfully written and executed a simple Java program.None\n",
      "------------------------------\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Certainly! Here is a simple C program that prints \"Hello, World!\" to the console:\n",
      "\n",
      "```c\n",
      "#include <stdio.h>\n",
      "\n",
      "int main() {\n",
      "    printf(\"Hello, World!\\n\");\n",
      "    return 0;\n",
      "}\n",
      "```\n",
      "\n",
      "To compile and run this program:\n",
      "\n",
      "1. Save the code in a file named `hello.c`.\n",
      "2. Open a terminal and navigate to the directory where the file is saved.\n",
      "3. Compile the program using a C compiler, such as `gcc`:\n",
      "   ```\n",
      "   gcc hello.c -o hello\n",
      "   ```\n",
      "4. Run the compiled program:\n",
      "   ```\n",
      "   ./hello\n",
      "   ```\n",
      "\n",
      "This should display: `Hello, World!` on the console.\n"
     ]
    }
   ],
   "source": [
    "llm_stream = LiteLLM(model_name=\"gpt-4o-mini-2024-07-18\", stream=True)\n",
    "\n",
    "# Streaming\n",
    "prompt = Prompt(messages=[{\"role\": \"user\", \"content\": \"Write hello world in Java\"}])\n",
    "for event in llm_stream.generate(prompt):\n",
    "    print(event.chunk, end=\"\")\n",
    "\n",
    "# No streaming\n",
    "# (note: you can not use Prompt object for more than 1 LLM call in TapeAgents)\n",
    "prompt = Prompt(messages=[{\"role\": \"user\", \"content\": \"Write hello world in C\"}])\n",
    "print(\"\\n\" + \"-\" * 30)\n",
    "print(llm_stream.generate(prompt).get_text())\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "In the example above we use the easiest way to create a prompt from the tapes: `tape_to_messages`. Under the hood, this method uses `step.llm_dict()` method of all non-control steps in the tape to create the prompt:"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 6,
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     "shell.execute_reply": "2024-12-02T12:53:54.784766Z"
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   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{'kind': 'user', 'content': 'hi AI!'}\n",
      "{'kind': 'assistant', 'content': 'hello human'}\n",
      "[{'role': 'user', 'content': 'hi AI!'}, {'role': 'assistant', 'content': 'hello human'}]\n"
     ]
    }
   ],
   "source": [
    "print((user := UserStep(content=\"hi AI!\")).llm_dict())\n",
    "print((assistant := AssistantStep(content=\"hello human\")).llm_dict())\n",
    "print(tape_to_messages(DialogTape(steps=[user, assistant])))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "A key priority in TapeAgents is making use of the data that running the agent generates. To make this possible, some TapeAgent LLMs know how to make their finetuning data:"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 7,
   "metadata": {
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     "shell.execute_reply": "2024-12-02T12:53:59.567574Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "--- ALL TEXT ---\n",
      "<|user|>\n",
      "Say bla 3 times and foo 2 times<|end|>\n",
      "<|assistant|>\n",
      "Sure! Let me say bla bla bla foo foo<|end|>\n",
      "<|endoftext|>\n",
      "--- PREDICTED CHARACTERS ---\n",
      "Sure! Let me say bla bla bla foo foo<|end|>\n",
      "<|endoftext|>\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.core import LLMOutput\n",
    "from tapeagents.llms import TrainableLLM\n",
    "\n",
    "trainable_llm = TrainableLLM(\n",
    "    base_url=\"\",  # we only use the tokenizer from the model here, no need for a base_url for inference\n",
    "    model_name=\"microsoft/Phi-3.5-MoE-instruct\",\n",
    "    tokenizer_name=\"microsoft/Phi-3.5-MoE-instruct\",\n",
    ")\n",
    "\n",
    "simple_tape = DialogTape(\n",
    "    steps=[\n",
    "        UserStep(content=\"Say bla 3 times and foo 2 times\"),\n",
    "        AssistantStep(content=\"Sure! Let me say bla bla bla foo foo\"),\n",
    "    ]\n",
    ")\n",
    "\n",
    "prompt = Prompt(messages=tape_to_messages(simple_tape[:1]))  # type: ignore\n",
    "output = agent.make_llm_output(simple_tape, index=1)\n",
    "text = trainable_llm.make_training_text(prompt=prompt, output=output)\n",
    "print(\"--- ALL TEXT ---\")\n",
    "print(text.text)\n",
    "print(\"--- PREDICTED CHARACTERS ---\")\n",
    "print(text.output_text)\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "### Node"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "A node represents an uninterruptible atom of TapeAgent's computation. When TapeAgents runs a node, it uses its two main functions: `make_prompt` to create an LLM Prompt from the tape and `generate_steps` to create new steps from the LLM output. To build a node, you can subclass `Node` and override these functions. Note that `generate_steps` must be a generator, a design choice we made to make TapeAgents a streaming-friendly framework. \n",
    "\n",
    "Let's see what the node from the above example can do."
   ]
  },
  {
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   "execution_count": 8,
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     "shell.execute_reply": "2024-12-02T12:54:03.233603Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Raw node prompt:\n",
      "id='77068356-cf82-4c88-bee6-62efbb10977b' tools=None messages=[{'role': 'user', 'content': 'Hi, AI!'}]\n",
      "\n",
      "Steps produced by node's generator:\n",
      "[AssistantStep(metadata=StepMetadata(id='ef9c2f22-e58a-47df-9378-38f1ce3be45e', prompt_id='', node='', agent='', other={}), kind='assistant', content='Hello, human!'), SetNextNode(metadata=StepMetadata(id='ef04bbd5-f235-4c69-bd25-4e5d9a40a7a0', prompt_id='', node='', agent='', other={}), kind='set_next_node', next_node='main')]\n",
      "\n",
      "Produced Steps:\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"9846cb89-5abb-4fec-a21b-a206d7a9c42a\",\n",
      "    \"prompt_id\": \"\",\n",
      "    \"node\": \"\",\n",
      "    \"agent\": \"\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"content\": \"Hello! How can I assist you today?\"\n",
      "}\n",
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"253d7555-b874-4977-8b37-583de767c14a\",\n",
      "    \"prompt_id\": \"\",\n",
      "    \"node\": \"\",\n",
      "    \"agent\": \"\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"set_next_node\",\n",
      "  \"next_node\": \"main\"\n",
      "}\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.llms import LLMEvent\n",
    "\n",
    "\n",
    "class MainNode(Node):\n",
    "    name: str = \"main\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        return Prompt(messages=tape_to_messages(tape))\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        yield AssistantStep(content=llm_stream.get_text())\n",
    "        yield SetNextNode(next_node=\"main\")  # Continue to the same node\n",
    "\n",
    "\n",
    "node = MainNode()\n",
    "\n",
    "# Let's run \"make_prompt\" in isolation.\n",
    "prompt = node.make_prompt(agent=None, tape=DialogTape(steps=[UserStep(content=\"Hi, AI!\")]))\n",
    "print(f\"Raw node prompt:\\n{prompt}\\n\")\n",
    "\n",
    "\n",
    "# Now, let's run \"generate_steps\" in isolation.\n",
    "# We need to construct a fake LLMStream to do that.\n",
    "def _generator():\n",
    "    yield LLMEvent(output=LLMOutput(content=\"Hello, human!\"))\n",
    "\n",
    "\n",
    "stream = LLMStream(_generator(), Prompt())\n",
    "step_stream = node.generate_steps(agent=None, tape=DialogTape(), llm_stream=stream)\n",
    "print(f\"Steps produced by node's generator:\\n{list(step_stream)}\\n\")\n",
    "\n",
    "# When the agent runs a node, it is equivalent to the following three steps:\n",
    "# Step 1: make a prompt\n",
    "start_tape = DialogTape(steps=[UserStep(content=\"Hi, AI!\")])\n",
    "prompt = node.make_prompt(agent, start_tape)\n",
    "# Step 2: construct the LLMStream from the prompt (happens inside the agent)\n",
    "stream = llm.generate(prompt)\n",
    "# Step 3: generate steps that the agent will then add to the tape\n",
    "print(\"Produced Steps:\")\n",
    "for step in node.generate_steps(agent, start_tape, stream):\n",
    "    print(step.model_dump_json(indent=2))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "### Agent and its nodes"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "The TapeAgent agent iteratively runs the nodes and appends the steps generated by each node to the tape. To select which next node to run, internally a TapeAgent computes the **tape view** object. The Tape remains the only **state** that the agent uses, the view only represents its content in a way that is convenient for the agent to use.\n"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 9,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:03.239556Z",
     "iopub.status.busy": "2024-12-02T12:54:03.239260Z",
     "iopub.status.idle": "2024-12-02T12:54:03.249257Z",
     "shell.execute_reply": "2024-12-02T12:54:03.248355Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "1: \n",
      "2: main\n",
      "3: act\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.view import TapeViewStack\n",
    "from tapeagents.core import StepMetadata\n",
    "\n",
    "# The \"top\" view in the tape view stack is the view of the current agent.\n",
    "# Initially `top.last_node` is empty and the agent will run the first node from its list\".\n",
    "tape1 = DialogTape(steps=[UserStep(content=\"Hi, AI!\")])\n",
    "last_node = TapeViewStack.compute(tape1).top.last_node\n",
    "print(f\"1: {last_node}\")\n",
    "assert last_node == \"\"\n",
    "\n",
    "\n",
    "# When the agent computes the view, it updates `top.last_node` with the node from the latest agent step\n",
    "# The agent will search the next node after the last_node in its nodes list.\n",
    "tape2 = DialogTape(\n",
    "    steps=[\n",
    "        UserStep(content=\"Hi, AI!\"),\n",
    "        AssistantStep(metadata=StepMetadata(prompt_id=\"123\", node=\"main\"), content=\"AI here, how I can help?\"),\n",
    "    ]\n",
    ")\n",
    "last_node = TapeViewStack.compute(tape2).top.last_node\n",
    "print(f\"2: {last_node}\")\n",
    "assert last_node == \"main\"\n",
    "\n",
    "# The SetNextNode step on the tape changes `top.next_node` to the value of the `next_node` field in the SetNextNode step.\n",
    "# The agent will use this value\n",
    "tape3 = DialogTape(\n",
    "    steps=[\n",
    "        UserStep(content=\"Hi, AI!\"),\n",
    "        AssistantStep(metadata=StepMetadata(prompt_id=\"123\"), content=\"AI here, how I can help?\"),\n",
    "        SetNextNode(next_node=\"act\"),\n",
    "    ]\n",
    ")\n",
    "next_node = TapeViewStack.compute(tape3).top.next_node\n",
    "print(f\"3: {next_node}\")\n",
    "assert next_node == \"act\"\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "By default the agent stops after the last node has produced an `Action` step. The action steps are the steps by which the agent requests information from the environment. For example, `AssistantStep` is an `Action` as it indicates the agent awaits the user response, `ToolCalls` is an action requesting tool call results. Let's look at all possible steps in `DialogTape` tape and see which of them are actions, observations and thoughts."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 10,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:03.254920Z",
     "iopub.status.busy": "2024-12-02T12:54:03.254632Z",
     "iopub.status.idle": "2024-12-02T12:54:03.260451Z",
     "shell.execute_reply": "2024-12-02T12:54:03.259559Z"
    }
   },
   "outputs": [],
   "source": [
    "from tapeagents.core import Action, Pass, Thought, Observation\n",
    "from tapeagents.dialog_tape import AssistantThought, ToolCalls, ToolResult\n",
    "\n",
    "assert all([issubclass(step_class, Action) for step_class in [AssistantStep, ToolCalls]])\n",
    "assert all([issubclass(step_class, Thought) for step_class in [AssistantThought, SetNextNode, Pass]])\n",
    "assert all([issubclass(step_class, Observation) for step_class in [UserStep, ToolResult]])\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Now we are ready to look at a simplified summary of the corner-stone `agent.run` algorithm.\n",
    "\n",
    "1. Compute the new tape view\n",
    "2. Choose the active agent (more on multi-agent TapeAgents later)\n",
    "3. Choose the active node\n",
    "4. Run the node and add steps on the tape\n",
    "5. If the last node yielded an action, then stop, else repeat.\n",
    "\n",
    "`agent.run` returns an `AgentStream` object which allows iterating through the agent's steps (or partial steps when streaming) and fast-forwardin to the complete new tape with `get_final_tape`."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "#### Converse with a TapeAgent"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Let's continue the conversation with the agent that previously responded to us with the Vulcan definition from the StarTrek.\n",
    "Remember, the session is stored in the tape **final_tape**."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 11,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:03.264996Z",
     "iopub.status.busy": "2024-12-02T12:54:03.264709Z",
     "iopub.status.idle": "2024-12-02T12:54:04.941270Z",
     "shell.execute_reply": "2024-12-02T12:54:04.940072Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"3d7b0056-c787-44fa-a2d7-05d53a8e426c\",\n",
      "    \"parent_id\": \"68953aff-5bde-4804-b0a0-105877990b93\",\n",
      "    \"author\": \"Agent\",\n",
      "    \"author_tape_id\": null,\n",
      "    \"n_added_steps\": 2,\n",
      "    \"error\": null,\n",
      "    \"result\": {}\n",
      "  },\n",
      "  \"context\": null,\n",
      "  \"steps\": [\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"5cc75001-83d8-4267-b4a6-9a0c5ff5edad\",\n",
      "        \"prompt_id\": \"\",\n",
      "        \"node\": \"\",\n",
      "        \"agent\": \"\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"user\",\n",
      "      \"content\": \"Tell me about Vulcan in 3 sentences\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"07f2147e-15a2-41e6-a5c5-62af3be8eb99\",\n",
      "        \"prompt_id\": \"372a416a-ca1a-4502-a33d-b9654c23e205\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"assistant\",\n",
      "      \"content\": \"Vulcan is a fictional planet from the \\\"Star Trek\\\" franchise, known as the birthplace of the Vulcan species, which includes the iconic character Spock. The planet is characterized by a desert-like environment, a rich cultural heritage, and a philosophy centered around logic and emotional suppression. Vulcan society values intelligence, science, and tradition, and its inhabitants often engage in practices such as the \\\"kolinahr,\\\" a discipline aimed at eliminating all emotion.\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"d04627fb-4e87-46ad-a84e-dae3e551911b\",\n",
      "        \"prompt_id\": \"372a416a-ca1a-4502-a33d-b9654c23e205\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"set_next_node\",\n",
      "      \"next_node\": \"main\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"b443de4d-b17e-48a2-8835-0698d59f1430\",\n",
      "        \"prompt_id\": \"\",\n",
      "        \"node\": \"\",\n",
      "        \"agent\": \"\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"user\",\n",
      "      \"content\": \"No, I mean Vulcan the company\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"bb3247f1-c6f0-44c6-b7d2-8fdaeab0278b\",\n",
      "        \"prompt_id\": \"4c37cb22-546c-476c-a1d4-b706fe6a2c94\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"assistant\",\n",
      "      \"content\": \"Vulcan Inc. is a private investment company founded by the late Paul Allen, co-founder of Microsoft, that focuses on various sectors, including technology, science, and the environment. The company is known for its philanthropic efforts and commitment to addressing global challenges, with initiatives in climate change, wildlife conservation, and ocean health. Vulcan also invests in innovative projects and startups that align with its vision of improving the world through technological advancement and sustainable practices.\"\n",
      "    },\n",
      "    {\n",
      "      \"metadata\": {\n",
      "        \"id\": \"5b657a6a-d5a5-4aa2-ba91-253aece4f442\",\n",
      "        \"prompt_id\": \"4c37cb22-546c-476c-a1d4-b706fe6a2c94\",\n",
      "        \"node\": \"main\",\n",
      "        \"agent\": \"Agent\",\n",
      "        \"other\": {}\n",
      "      },\n",
      "      \"kind\": \"set_next_node\",\n",
      "      \"next_node\": \"main\"\n",
      "    }\n",
      "  ]\n",
      "}\n"
     ]
    }
   ],
   "source": [
    "tape_to_continue = final_tape + [UserStep(content=\"No, I mean Vulcan the company\")]\n",
    "continued_tape = agent.run(tape_to_continue).get_final_tape()\n",
    "print(continued_tape.model_dump_json(indent=2))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Note that the agent is able to continue talking to you thanks for `SetNextNode(next_node=\"main\")` step that `generate_steps` produced. If you try to remove this step as an exercise, the agent will crash because there is only one node."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "#### Tape rendering\n",
    "\n",
    "LLM agents create a lot of data that can be overwhelming to process. In TapeAgents we render the tape with the associated prompts and outputs into a more readable HTML for you. To make this work, we store prompts and outputs in an SQLite database every time you call `agent.run()`.\n",
    "\n",
    "Here's how to use tape rendering in the notebook:"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 12,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:04.946890Z",
     "iopub.status.busy": "2024-12-02T12:54:04.946408Z",
     "iopub.status.idle": "2024-12-02T12:54:05.425598Z",
     "shell.execute_reply": "2024-12-02T12:54:05.424388Z"
    }
   },
   "outputs": [
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 3d7b0056-c787-44fa-a2d7-05d53a8e426c</summary> <div class='basic-renderer-box'>author: Agent\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 3d7b0056-c787-44fa-a2d7-05d53a8e426c\n",
       "n_added_steps: 2\n",
       "parent_id: 68953aff-5bde-4804-b0a0-105877990b93\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan in 3 sentences</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 16 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>user: Tell me about Vulcan in 3 sentences</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 92 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='Vulcan is a fictional planet from the \"Star Trek\" franchise, known as the birthplace of the Vulcan species, which includes the iconic character Spock. The planet is characterized by a desert-like environment, a rich cultural heritage, and a philosophy centered around logic and emotional suppression. Vulcan society values intelligence, science, and tradition, and its inhabitants often engage in practices such as the \"kolinahr,\" a discipline aimed at eliminating all emotion.', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[1] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan is a fictional planet from the \"Star Trek\" franchise, known as the birthplace of the Vulcan species, which includes the iconic character Spock. The planet is characterized by a desert-like environment, a rich cultural heritage, and a philosophy centered around logic and emotional suppression. Vulcan society values intelligence, science, and tradition, and its inhabitants often engage in practices such as the \"kolinahr,\" a discipline aimed at eliminating all emotion.</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[2] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[3] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "No, I mean Vulcan the company</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 124 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: Vulcan is a fictional planet from the \"Star Trek\" franchise, known as the birthplace of the Vulcan species, which includes the iconic character Spock. The planet is characterized by a desert-like environment, a rich cultural heritage, and a philosophy centered around logic and emotional suppression. Vulcan society values intelligence, science, and tradition, and its inhabitants often engage in practices such as the \"kolinahr,\" a discipline aimed at eliminating all emotion.\n",
       "--\n",
       "user: No, I mean Vulcan the company</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 90 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='Vulcan Inc. is a private investment company founded by the late Paul Allen, co-founder of Microsoft, that focuses on various sectors, including technology, science, and the environment. The company is known for its philanthropic efforts and commitment to addressing global challenges, with initiatives in climate change, wildlife conservation, and ocean health. Vulcan also invests in innovative projects and startups that align with its vision of improving the world through technological advancement and sustainable practices.', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[4] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan Inc. is a private investment company founded by the late Paul Allen, co-founder of Microsoft, that focuses on various sectors, including technology, science, and the environment. The company is known for its philanthropic efforts and commitment to addressing global challenges, with initiatives in climate change, wildlife conservation, and ocean health. Vulcan also invests in innovative projects and startups that align with its vision of improving the world through technological advancement and sustainable practices.</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[5] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 12,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "from tapeagents.renderers import render_tape_with_prompts\n",
    "from tapeagents.renderers.pretty import PrettyRenderer\n",
    "from IPython.display import HTML\n",
    "\n",
    "HTML(render_tape_with_prompts(continued_tape, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# 2. Your TapeAgent with planning and tools"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Let's build a TapeAgent that plans and acts. We will be using OpenAI function calling capabilities in this example."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 13,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:05.430848Z",
     "iopub.status.busy": "2024-12-02T12:54:05.430551Z",
     "iopub.status.idle": "2024-12-02T12:54:11.081139Z",
     "shell.execute_reply": "2024-12-02T12:54:11.079585Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Run the agent!\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"a25b6c3a-d90e-4564-965c-58f3afa4f808\",\n",
      "    \"prompt_id\": \"751eb42c-1b7f-4ece-a53d-5ba042462c26\",\n",
      "    \"node\": \"plan\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant_thought\",\n",
      "  \"content\": \"1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\\n2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\\n3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\"\n",
      "}\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"2aae8a56-7ce3-406a-a475-e410b9548237\",\n",
      "    \"prompt_id\": \"a9e68ba4-e5c0-4b67-a4a7-03aaf59673a0\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"tool_calls\": [\n",
      "    {\n",
      "      \"function\": {\n",
      "        \"name\": \"get_stock_ticker\",\n",
      "        \"arguments\": \"{\\\"company_name\\\":\\\"Vulcan\\\"}\"\n",
      "      },\n",
      "      \"id\": \"call_NcnqtIjiw0YxPPOxfXaJzUSS\",\n",
      "      \"type\": \"function\"\n",
      "    }\n",
      "  ]\n",
      "}\n",
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"d432118f-4717-4bd2-93d6-81995c1b6f14\",\n",
      "    \"prompt_id\": \"a9e68ba4-e5c0-4b67-a4a7-03aaf59673a0\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"set_next_node\",\n",
      "  \"next_node\": \"act\"\n",
      "}\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"635b19c5-aa3f-4ff9-b3cb-cc8d86061d12\",\n",
      "    \"prompt_id\": \"\",\n",
      "    \"node\": \"\",\n",
      "    \"agent\": \"\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"tool\",\n",
      "  \"content\": \"VMC\",\n",
      "  \"tool_call_id\": \"call_NcnqtIjiw0YxPPOxfXaJzUSS\"\n",
      "}\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"f0e9d217-734a-4f1f-937c-9453bfefc79d\",\n",
      "    \"prompt_id\": \"5712dd3c-6f9a-4f47-b035-911c97acdd12\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"tool_calls\": [\n",
      "    {\n",
      "      \"function\": {\n",
      "        \"name\": \"get_stock_data\",\n",
      "        \"arguments\": \"{\\\"symbol\\\":\\\"VMC\\\",\\\"start_date\\\":\\\"2024-08-01\\\",\\\"end_date\\\":\\\"2024-09-16\\\"}\"\n",
      "      },\n",
      "      \"id\": \"call_lMN9M6yhIgQDH4fHwyo4oOZM\",\n",
      "      \"type\": \"function\"\n",
      "    }\n",
      "  ]\n",
      "}\n",
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"d92c28b2-0e93-4dea-ac9b-de0c27faad58\",\n",
      "    \"prompt_id\": \"5712dd3c-6f9a-4f47-b035-911c97acdd12\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"set_next_node\",\n",
      "  \"next_node\": \"act\"\n",
      "}\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"54db03c6-ec9b-409d-821a-73fb103e502b\",\n",
      "    \"prompt_id\": \"\",\n",
      "    \"node\": \"\",\n",
      "    \"agent\": \"\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"tool\",\n",
      "  \"content\": [\n",
      "    [\n",
      "      \"2024-08-01\",\n",
      "      271.1300048828125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-02\",\n",
      "      266.3399963378906\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-05\",\n",
      "      257.42999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-06\",\n",
      "      246.13999938964844\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-07\",\n",
      "      241.22000122070312\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-08\",\n",
      "      246.3300018310547\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-09\",\n",
      "      244.33999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-12\",\n",
      "      241.89999389648438\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-13\",\n",
      "      243.83999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-14\",\n",
      "      242.5\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-15\",\n",
      "      246.57000732421875\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-16\",\n",
      "      244.42999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-19\",\n",
      "      244.2899932861328\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-20\",\n",
      "      245.60000610351562\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-21\",\n",
      "      247.83999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-22\",\n",
      "      247.97999572753906\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-23\",\n",
      "      254.88999938964844\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-26\",\n",
      "      250.67999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-27\",\n",
      "      240.41000366210938\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-28\",\n",
      "      235.77000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-29\",\n",
      "      241.27999877929688\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-30\",\n",
      "      245.2100067138672\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-03\",\n",
      "      239.02000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-04\",\n",
      "      234.8300018310547\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-05\",\n",
      "      232.16000366210938\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-06\",\n",
      "      231.97000122070312\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-09\",\n",
      "      231.8300018310547\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-10\",\n",
      "      232.9499969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-11\",\n",
      "      232.9499969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-12\",\n",
      "      236.27000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-13\",\n",
      "      237.47000122070312\n",
      "    ]\n",
      "  ],\n",
      "  \"tool_call_id\": \"call_lMN9M6yhIgQDH4fHwyo4oOZM\"\n",
      "}\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"ba5503c7-41d5-4cde-ac4b-cfffb16b0d28\",\n",
      "    \"prompt_id\": \"673b97fb-33bc-496b-950e-96580af7b5d9\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"content\": \"Vulcan Materials Company, trading under the stock ticker symbol VMC, is a major producer of construction aggregates and a leading producer of other construction materials. Over the past month and a half, Vulcan's stock price has experienced fluctuations, starting at approximately $271.13 on August 1, 2024, and closing at around $237.47 on September 13, 2024. This indicates a downward trend in their stock price during this period, reflecting potential market challenges or shifts in investor sentiment.\"\n",
      "}\n",
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"c89caafb-6364-4c86-95b9-66ddacea7323\",\n",
      "    \"prompt_id\": \"673b97fb-33bc-496b-950e-96580af7b5d9\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"set_next_node\",\n",
      "  \"next_node\": \"plan\"\n",
      "}\n",
      "Final tape:\n"
     ]
    },
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: f9f7431c-0b24-408b-a93b-35bd24afd338</summary> <div class='basic-renderer-box'>author: Agent\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: f9f7431c-0b24-408b-a93b-35bd24afd338\n",
       "n_added_steps: 2\n",
       "parent_id: 1698b955-84cb-497a-b4c0-9d2f7ed3765d\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan in 3 sentences</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 98 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "user: Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 84 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\\n2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\\n3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[1] Thought: AssistantThought</h4><pre class='step-text'>kind: assistant_thought\n",
       "\n",
       "1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 171 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"company_name\":\"Vulcan\"}', name='get_stock_ticker'), id='call_NcnqtIjiw0YxPPOxfXaJzUSS', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[2] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_ticker\n",
       "    arguments: '{\"company_name\":\"Vulcan\"}'\n",
       "  id: call_NcnqtIjiw0YxPPOxfXaJzUSS\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[3] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[4] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_NcnqtIjiw0YxPPOxfXaJzUSS\n",
       "\n",
       "VMC</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 165 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_ticker', 'arguments': '{\"company_name\":\"Vulcan\"}'}, 'id': 'call_NcnqtIjiw0YxPPOxfXaJzUSS', 'type': 'function'}]\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"symbol\":\"VMC\",\"start_date\":\"2024-08-01\",\"end_date\":\"2024-09-16\"}', name='get_stock_data'), id='call_lMN9M6yhIgQDH4fHwyo4oOZM', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[5] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\":\"VMC\",\"start_date\":\"2024-08-01\",\"end_date\":\"2024-09-16\"}'\n",
       "  id: call_lMN9M6yhIgQDH4fHwyo4oOZM\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[6] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[7] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_lMN9M6yhIgQDH4fHwyo4oOZM\n",
       "\n",
       "<details><summary>1094 characters ...</summary>[('2024-08-01', 271.1300048828125), ('2024-08-02', 266.3399963378906), ('2024-08-05', 257.42999267578125), ('2024-08-06', 246.13999938964844), ('2024-08-07', 241.22000122070312), ('2024-08-08', 246.3300018310547), ('2024-08-09', 244.33999633789062), ('2024-08-12', 241.89999389648438), ('2024-08-13', 243.83999633789062), ('2024-08-14', 242.5), ('2024-08-15', 246.57000732421875), ('2024-08-16', 244.42999267578125), ('2024-08-19', 244.2899932861328), ('2024-08-20', 245.60000610351562), ('2024-08-21', 247.83999633789062), ('2024-08-22', 247.97999572753906), ('2024-08-23', 254.88999938964844), ('2024-08-26', 250.67999267578125), ('2024-08-27', 240.41000366210938), ('2024-08-28', 235.77000427246094), ('2024-08-29', 241.27999877929688), ('2024-08-30', 245.2100067138672), ('2024-09-03', 239.02000427246094), ('2024-09-04', 234.8300018310547), ('2024-09-05', 232.16000366210938), ('2024-09-06', 231.97000122070312), ('2024-09-09', 231.8300018310547), ('2024-09-10', 232.9499969482422), ('2024-09-11', 232.9499969482422), ('2024-09-12', 236.27000427246094), ('2024-09-13', 237.47000122070312)]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 715 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_ticker', 'arguments': '{\"company_name\":\"Vulcan\"}'}, 'id': 'call_NcnqtIjiw0YxPPOxfXaJzUSS', 'type': 'function'}]\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_data', 'arguments': '{\"symbol\":\"VMC\",\"start_date\":\"2024-08-01\",\"end_date\":\"2024-09-16\"}'}, 'id': 'call_lMN9M6yhIgQDH4fHwyo4oOZM', 'type': 'function'}]\n",
       "--\n",
       "tool: [('2024-08-01', 271.1300048828125), ('2024-08-02', 266.3399963378906), ('2024-08-05', 257.42999267578125), ('2024-08-06', 246.13999938964844), ('2024-08-07', 241.22000122070312), ('2024-08-08', 246.3300018310547), ('2024-08-09', 244.33999633789062), ('2024-08-12', 241.89999389648438), ('2024-08-13', 243.83999633789062), ('2024-08-14', 242.5), ('2024-08-15', 246.57000732421875), ('2024-08-16', 244.42999267578125), ('2024-08-19', 244.2899932861328), ('2024-08-20', 245.60000610351562), ('2024-08-21', 247.83999633789062), ('2024-08-22', 247.97999572753906), ('2024-08-23', 254.88999938964844), ('2024-08-26', 250.67999267578125), ('2024-08-27', 240.41000366210938), ('2024-08-28', 235.77000427246094), ('2024-08-29', 241.27999877929688), ('2024-08-30', 245.2100067138672), ('2024-09-03', 239.02000427246094), ('2024-09-04', 234.8300018310547), ('2024-09-05', 232.16000366210938), ('2024-09-06', 231.97000122070312), ('2024-09-09', 231.8300018310547), ('2024-09-10', 232.9499969482422), ('2024-09-11', 232.9499969482422), ('2024-09-12', 236.27000427246094), ('2024-09-13', 237.47000122070312)]\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 104 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"Vulcan Materials Company, trading under the stock ticker symbol VMC, is a major producer of construction aggregates and a leading producer of other construction materials. Over the past month and a half, Vulcan's stock price has experienced fluctuations, starting at approximately $271.13 on August 1, 2024, and closing at around $237.47 on September 13, 2024. This indicates a downward trend in their stock price during this period, reflecting potential market challenges or shifts in investor sentiment.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[8] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan Materials Company, trading under the stock ticker symbol VMC, is a major producer of construction aggregates and a leading producer of other construction materials. Over the past month and a half, Vulcan's stock price has experienced fluctuations, starting at approximately $271.13 on August 1, 2024, and closing at around $237.47 on September 13, 2024. This indicates a downward trend in their stock price during this period, reflecting potential market challenges or shifts in investor sentiment.</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[9] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: plan\n",
       "</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 13,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "from tapeagents.core import SetNextNode\n",
    "from tapeagents.dialog_tape import AssistantThought, ToolCalls\n",
    "from tapeagents.environment import ToolEnvironment\n",
    "from tapeagents.orchestrator import main_loop\n",
    "from tapeagents.tools.stock import get_stock_data, get_stock_ticker\n",
    "\n",
    "system_instruction = f\"\"\"\n",
    "You will help the user to learn about financials of companies.\n",
    "Use as many relevant tools as possible to include more details and facts in your responses.\n",
    "Today is {today}.\n",
    "\"\"\"\n",
    "system_message = {\"role\": \"system\", \"content\": system_instruction}\n",
    "\n",
    "env = ToolEnvironment([get_stock_ticker, get_stock_data])\n",
    "\n",
    "\n",
    "class PlanNode(Node):\n",
    "    name: str = \"plan\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        guidance = \"Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.\"\n",
    "        guidance_message = {\"role\": \"user\", \"content\": guidance}\n",
    "        return Prompt(\n",
    "            messages=[system_message] + tape_to_messages(tape) + [guidance_message], tools=env.get_tool_schema_dicts()\n",
    "        )\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        if content := llm_stream.get_output().content:\n",
    "            yield AssistantThought(content=content)\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "class ActNode(Node):\n",
    "    name: str = \"act\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        guidance = \"Follow the plan you created to earlier. When you are done, respond to the user.\"\n",
    "        guidance_message = {\"role\": \"user\", \"content\": guidance}\n",
    "        return Prompt(\n",
    "            messages=[system_message] + tape_to_messages(tape) + [guidance_message], tools=env.get_tool_schema_dicts()\n",
    "        )\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        o = llm_stream.get_output()\n",
    "        if o.content:\n",
    "            yield AssistantStep(content=o.content)\n",
    "            yield SetNextNode(next_node=\"plan\")\n",
    "        elif o.tool_calls:\n",
    "            yield ToolCalls.from_llm_output(o)\n",
    "            yield SetNextNode(next_node=\"act\")\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "agent1 = Agent.create(LiteLLM(model_name=\"gpt-4o\", parameters={\"temperature\": 0.1}), nodes=[PlanNode(), ActNode()])\n",
    "\n",
    "print(\"Run the agent!\")\n",
    "final_tape1 = None\n",
    "for event in main_loop(agent1, DialogTape() + [UserStep(content=\"Tell me about Vulcan in 3 sentences\")], env):\n",
    "    if ae := event.agent_event:\n",
    "        if ae.step:\n",
    "            print(ae.step.model_dump_json(indent=2))\n",
    "        if ae.final_tape:\n",
    "            final_tape1 = ae.final_tape\n",
    "    if event.observation:\n",
    "        print(event.observation.model_dump_json(indent=2))\n",
    "assert final_tape1\n",
    "print(\"Final tape:\")\n",
    "HTML(render_tape_with_prompts(final_tape1, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "The main new thing in this example is the environment. In TapeAgents framework the environment responds to the agent `Action` steps with `Observation` steps. We expect you to use the environment to encapsulate tool use, retrieval, code execution: everything that is non-deterministic, non-stationary, or computationally heavy. On the contrary, we encourage you to implements the agent's deterministic decision-making in `make_prompt` and `generate_steps` methods.\n",
    "\n",
    "Here we use a pre-defined `main_loop` orchestrator to run the agent and the environment. `main_loop` is a generator of events that you can use as you wish. You are free to implement your own orchestration paradigm with a fine-grained control over what actions get to be executed."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# 3. Agent configuration, resumption"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Let's try building a similar agent with an open-weights LLAMA3 70B models. Conveniently, [Together AI](together.ai) offers API endpoints. You can create an account and get API key with some free quota."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "#### Access to Hugging Face Gated Models\n",
    "Make sure you have access to each model we are going to use (read more [here](https://huggingface.co/docs/hub/en/models-gated#access-gated-models-as-a-user)):\n",
    "- https://huggingface.co/meta-llama/Meta-Llama-3-70B-Instruct\n",
    "\n",
    "##### Troubleshoot\n",
    "- If you receive a 401 error, it means the authentication failed.\n",
    "- If you receive a 403 error, it means you are authenticated but not authorized to access the specific model."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 14,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:11.087710Z",
     "iopub.status.busy": "2024-12-02T12:54:11.087056Z",
     "iopub.status.idle": "2024-12-02T12:54:11.095645Z",
     "shell.execute_reply": "2024-12-02T12:54:11.093811Z"
    }
   },
   "outputs": [],
   "source": [
    "if \"TAPEAGENTS_LLM_TOKEN\" not in os.environ:\n",
    "    os.environ[\"TAPEAGENTS_LLM_TOKEN\"] = \"<your-together-ai-api-key>\"\n",
    "\n",
    "if \"HF_TOKEN\" not in os.environ:\n",
    "    # We need this to acces the model's tokenizer\n",
    "    os.environ[\"HF_TOKEN\"] = \"<your-hugging-face-api-key>\"\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "## 3.1. Setup your Agents\n",
    "\n",
    "We've found that LLAMA3 function-calling is not yet battle-ready. We will use the structured output approach to make it call tools instead. We are also making this agent trainable by adding `make_llm_output` methods to each node. `Node.make_llm_output` defines how a node can reconstruct the LLM completion message that would be required to make the steps from the given tape at the given index. You can think of `Node.make_llm_output` as the inverse of `Node.generate_steps`.\n",
    "\n",
    "When you run the code below, you might see a different behavior every time. Often the LLAMA-based agent gets stuck in a loop. We will look into how TapeAgents supports you in addressing this issue by\n",
    "- tuning the prompt and resuming the agent exactly where it got stuck \n",
    "- producing training text from a different agent's tape "
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 15,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:11.102731Z",
     "iopub.status.busy": "2024-12-02T12:54:11.101500Z",
     "iopub.status.idle": "2024-12-02T12:54:11.153780Z",
     "shell.execute_reply": "2024-12-02T12:54:11.152435Z"
    }
   },
   "outputs": [],
   "source": [
    "import json\n",
    "from tapeagents.dialog_tape import FunctionCall, ToolCall\n",
    "from tapeagents.llms import TrainableLLM\n",
    "\n",
    "from tapeagents.prompting import step_to_message\n",
    "\n",
    "env = ToolEnvironment([get_stock_ticker, get_stock_data])\n",
    "\n",
    "system_instruction = f\"\"\"\n",
    "You will help the user to learn about financials of companies.\n",
    "Use as many relevant tools as possible to include more details and facts in your responses.\n",
    "Today is {today}.\n",
    "\n",
    "You have access to the following tools: {env.get_tool_schema_dicts()}\"\"\"\n",
    "\n",
    "planning_guidance = \"Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.\"\n",
    "\n",
    "call_or_respond_guidance = \"\"\"\n",
    "Follow the plan you created earlier. When you are done, respond to the user.\n",
    "If you want to call a or several tools, output JSON like this\n",
    "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
    "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
    "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
    "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.\n",
    "\"\"\"\n",
    "\n",
    "\n",
    "class PlanNode(Node):\n",
    "    name: str = \"plan\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        system_message = {\"role\": \"system\", \"content\": system_instruction}\n",
    "        guidance_message = {\"role\": \"user\", \"content\": agent.templates[\"planning\"]}\n",
    "        return Prompt(messages=[system_message] + tape_to_messages(tape) + [guidance_message])\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        if content := getattr(llm_stream.get_output(), \"content\", None):\n",
    "            yield AssistantThought(content=content)\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "    def make_llm_output(self, agent, tape: DialogTape, index: int) -> LLMOutput:\n",
    "        if not isinstance(current := tape[index], AssistantThought):\n",
    "            raise ValueError()\n",
    "        return LLMOutput(role=\"assistant\", content=current.content)\n",
    "\n",
    "\n",
    "class ActNode(Node):\n",
    "    name: str = \"act\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        system_message = {\"role\": \"system\", \"content\": system_instruction}\n",
    "        guidance_message = {\"role\": \"user\", \"content\": agent.templates[\"call_or_respond\"]}\n",
    "        messages = [system_message]\n",
    "        for step in tape:\n",
    "            if isinstance(step, (ToolCalls)):\n",
    "                messages.append({\"role\": \"assistant\", \"content\": _llm_message_content(step)})\n",
    "            elif not isinstance(step, SetNextNode):\n",
    "                messages.append(step_to_message(step))\n",
    "        messages += [guidance_message]\n",
    "        return Prompt(messages=messages)\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        o = llm_stream.get_output()\n",
    "        try:\n",
    "            assert o.content\n",
    "            tool_calls = []\n",
    "            response = None\n",
    "            for line in o.content.split(\"\\n\"):\n",
    "                data = json.loads(line)\n",
    "                if data.get(\"kind\") == \"response\":\n",
    "                    response = data[\"content\"]\n",
    "                elif data.get(\"kind\") == \"tool_call\":\n",
    "                    tool_call = ToolCall(\n",
    "                        function=FunctionCall(name=data[\"tool_name\"], arguments=json.dumps(data[\"parameters\"])),\n",
    "                        # tool call must be a unique string, it helps to make it something deterministic\n",
    "                        id=f\"tool_call_{len(tool_calls)}_node_starts_at_{len(tape)}\",\n",
    "                    )\n",
    "                    tool_calls.append(tool_call)\n",
    "                else:\n",
    "                    yield AssistantStep(content=\"Invalid LLM output: kind field must be 'response' or 'tool_call'\")\n",
    "            if response and tool_calls:\n",
    "                yield AssistantStep(content=\"Invalid LLM output: response and tool_call cannot be in the same message\")\n",
    "            if response:\n",
    "                yield AssistantStep(content=response)\n",
    "                yield SetNextNode(next_node=\"plan\")\n",
    "            if tool_calls:\n",
    "                yield ToolCalls(tool_calls=tool_calls)\n",
    "                yield SetNextNode(next_node=\"act\")\n",
    "        except Exception as e:\n",
    "            yield AssistantStep(content=\"Invalid JSON object: \" + str(e))\n",
    "\n",
    "    def make_llm_output(self, agent, tape: DialogTape, index: int) -> LLMOutput:\n",
    "        if not isinstance(step := tape[index], AssistantStep | ToolCalls):\n",
    "            raise ValueError()\n",
    "        content = _llm_message_content(step)\n",
    "        return LLMOutput(role=\"assistant\", content=content)\n",
    "\n",
    "\n",
    "def _llm_message_content(step: AssistantStep | ToolCalls):\n",
    "    \"\"\"Helper function to make both the prompt and the target completion\"\"\"\n",
    "    match step:\n",
    "        case AssistantStep():\n",
    "            return json.dumps({\"kind\": \"response\", \"content\": step.content})\n",
    "        case ToolCalls():\n",
    "            content = \"\"\n",
    "            for tool_call in step.tool_calls:\n",
    "                if content:\n",
    "                    content += \"\\n\"\n",
    "                content += json.dumps(\n",
    "                    {\n",
    "                        \"kind\": \"tool_call\",\n",
    "                        \"tool_name\": tool_call.function.name,\n",
    "                        \"parameters\": json.loads(tool_call.function.arguments),\n",
    "                    }\n",
    "                )\n",
    "            return content\n",
    "        case _:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "agent2 = Agent.create(\n",
    "    TrainableLLM(\n",
    "        base_url=\"https://api.together.xyz\",\n",
    "        model_name=\"meta-llama/Meta-Llama-3-70B-Instruct-Turbo\",\n",
    "        tokenizer_name=\"meta-llama/Meta-Llama-3-70B-Instruct\",\n",
    "        parameters=dict(temperature=0.01),\n",
    "    ),\n",
    "    templates={\n",
    "        \"system\": system_instruction,\n",
    "        \"planning\": planning_guidance,\n",
    "        \"call_or_respond\": call_or_respond_guidance,\n",
    "    },\n",
    "    nodes=[PlanNode(), ActNode()],\n",
    ")\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "## 3.2. Run your Agent"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 16,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:11.159302Z",
     "iopub.status.busy": "2024-12-02T12:54:11.158837Z",
     "iopub.status.idle": "2024-12-02T12:54:44.094191Z",
     "shell.execute_reply": "2024-12-02T12:54:44.092149Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Run LLAMA agent!\n"
     ]
    },
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"e588f7d2-49ef-4a89-9ae9-5834fb4610e0\",\n",
      "    \"prompt_id\": \"7a4e3a6a-37ba-4267-9561-b5e5f5dfdaf3\",\n",
      "    \"node\": \"plan\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant_thought\",\n",
      "  \"content\": \"Here's a plan to help the user learn about Vulcan Materials using the provided tools:\\n\\n1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\\\"Vulcan Materials\\\")`.\\n\\n2. **Get the company's stock data**: Use the retrieved stock ticker symbol to get the company's stock price data using the `get_stock_data` function. For instance, `get_stock_data(\\\"VMC\\\", \\\"2022-01-01\\\", \\\"2024-09-17\\\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\\n\\n3. **Analyze the stock data**: Use the obtained stock data to analyze the company's performance over time. This can include calculating the stock's return, identifying trends, and noting significant events that may have affected the stock price.\\n\\n4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\\n\\n5. **Offer additional insights or resources**: Depending on the user's interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.\"\n",
      "}\n"
     ]
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      "{\n",
      "  \"metadata\": {\n",
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      "    \"prompt_id\": \"805cf40a-33f7-42ae-a646-fdf3d419d460\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"tool_calls\": [\n",
      "    {\n",
      "      \"function\": {\n",
      "        \"name\": \"get_stock_ticker\",\n",
      "        \"arguments\": \"{\\\"company_name\\\": \\\"Vulcan Materials\\\"}\"\n",
      "      },\n",
      "      \"id\": \"tool_call_0_node_starts_at_2\",\n",
      "      \"type\": \"function\"\n",
      "    }\n",
      "  ]\n",
      "}\n",
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"fd2929f9-02ce-4732-88c6-802e40c600c0\",\n",
      "    \"prompt_id\": \"805cf40a-33f7-42ae-a646-fdf3d419d460\",\n",
      "    \"node\": \"act\",\n",
      "    \"agent\": \"Agent\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"set_next_node\",\n",
      "  \"next_node\": \"act\"\n",
      "}\n"
     ]
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    {
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     "output_type": "stream",
     "text": [
      "{\n",
      "  \"metadata\": {\n",
      "    \"id\": \"d7196dce-5af2-4c95-b538-a4a77a9535a1\",\n",
      "    \"prompt_id\": \"\",\n",
      "    \"node\": \"\",\n",
      "    \"agent\": \"\",\n",
      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"tool\",\n",
      "  \"content\": \"VMC\",\n",
      "  \"tool_call_id\": \"tool_call_0_node_starts_at_2\"\n",
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      "{\n",
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      "    \"prompt_id\": \"578a0e4f-8807-402a-9997-99c42479b406\",\n",
      "    \"node\": \"act\",\n",
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      "    \"other\": {}\n",
      "  },\n",
      "  \"kind\": \"assistant\",\n",
      "  \"tool_calls\": [\n",
      "    {\n",
      "      \"function\": {\n",
      "        \"name\": \"get_stock_data\",\n",
      "        \"arguments\": \"{\\\"symbol\\\": \\\"VMC\\\", \\\"start_date\\\": \\\"2022-01-01\\\", \\\"end_date\\\": \\\"2024-09-17\\\"}\"\n",
      "      },\n",
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      "      \"2022-08-23\",\n",
      "      171.14999389648438\n",
      "    ],\n",
      "    [\n",
      "      \"2022-09-02\",\n",
      "      164.9499969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2022-09-15\",\n",
      "      162.22000122070312\n",
      "    ],\n",
      "    [\n",
      "      \"2022-09-27\",\n",
      "      152.33999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2022-10-07\",\n",
      "      157.49000549316406\n",
      "    ],\n",
      "    [\n",
      "      \"2022-10-19\",\n",
      "      154.77000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2022-10-31\",\n",
      "      163.6999969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2022-11-10\",\n",
      "      180.07000732421875\n",
      "    ],\n",
      "    [\n",
      "      \"2022-11-22\",\n",
      "      182.27999877929688\n",
      "    ],\n",
      "    [\n",
      "      \"2022-12-05\",\n",
      "      179.0\n",
      "    ],\n",
      "    [\n",
      "      \"2022-12-15\",\n",
      "      179.27999877929688\n",
      "    ],\n",
      "    [\n",
      "      \"2022-12-28\",\n",
      "      174.08999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2023-01-10\",\n",
      "      176.75\n",
      "    ],\n",
      "    [\n",
      "      \"2023-01-23\",\n",
      "      179.4499969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2023-02-02\",\n",
      "      187.52000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2023-02-14\",\n",
      "      185.5800018310547\n",
      "    ],\n",
      "    [\n",
      "      \"2023-02-27\",\n",
      "      181.58999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2023-03-09\",\n",
      "      174.07000732421875\n",
      "    ],\n",
      "    [\n",
      "      \"2023-03-21\",\n",
      "      166.13999938964844\n",
      "    ],\n",
      "    [\n",
      "      \"2023-03-31\",\n",
      "      171.55999755859375\n",
      "    ],\n",
      "    [\n",
      "      \"2023-04-13\",\n",
      "      169.4600067138672\n",
      "    ],\n",
      "    [\n",
      "      \"2023-04-25\",\n",
      "      169.6699981689453\n",
      "    ],\n",
      "    [\n",
      "      \"2023-05-05\",\n",
      "      193.57000732421875\n",
      "    ],\n",
      "    [\n",
      "      \"2023-05-17\",\n",
      "      196.50999450683594\n",
      "    ],\n",
      "    [\n",
      "      \"2023-05-30\",\n",
      "      196.0500030517578\n",
      "    ],\n",
      "    [\n",
      "      \"2023-06-09\",\n",
      "      206.63999938964844\n",
      "    ],\n",
      "    [\n",
      "      \"2023-06-22\",\n",
      "      213.4499969482422\n",
      "    ],\n",
      "    [\n",
      "      \"2023-07-05\",\n",
      "      220.6300048828125\n",
      "    ],\n",
      "    [\n",
      "      \"2023-07-17\",\n",
      "      223.7100067138672\n",
      "    ],\n",
      "    [\n",
      "      \"2023-07-27\",\n",
      "      218.2899932861328\n",
      "    ],\n",
      "    [\n",
      "      \"2023-08-08\",\n",
      "      226.83999633789062\n",
      "    ],\n",
      "    [\n",
      "      \"2023-08-18\",\n",
      "      211.8000030517578\n",
      "    ],\n",
      "    [\n",
      "      \"2023-08-30\",\n",
      "      218.24000549316406\n",
      "    ],\n",
      "    [\n",
      "      \"2023-09-12\",\n",
      "      214.77000427246094\n",
      "    ],\n",
      "    [\n",
      "      \"2023-09-22\",\n",
      "      200.6199951171875\n",
      "    ],\n",
      "    [\n",
      "      \"2023-10-04\",\n",
      "      205.02999877929688\n",
      "    ],\n",
      "    [\n",
      "      \"2023-10-16\",\n",
      "      213.0399932861328\n",
      "    ],\n",
      "    [\n",
      "      \"2023-10-26\",\n",
      "      193.97000122070312\n",
      "    ],\n",
      "    [\n",
      "      \"2023-11-07\",\n",
      "      207.2100067138672\n",
      "    ],\n",
      "    [\n",
      "      \"2023-11-17\",\n",
      "      212.35000610351562\n",
      "    ],\n",
      "    [\n",
      "      \"2023-11-30\",\n",
      "      213.55999755859375\n",
      "    ],\n",
      "    [\n",
      "      \"2023-12-12\",\n",
      "      220.89999389648438\n",
      "    ],\n",
      "    [\n",
      "      \"2023-12-22\",\n",
      "      224.92999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-01-05\",\n",
      "      221.6199951171875\n",
      "    ],\n",
      "    [\n",
      "      \"2024-01-18\",\n",
      "      225.1199951171875\n",
      "    ],\n",
      "    [\n",
      "      \"2024-01-30\",\n",
      "      231.0500030517578\n",
      "    ],\n",
      "    [\n",
      "      \"2024-02-09\",\n",
      "      240.0\n",
      "    ],\n",
      "    [\n",
      "      \"2024-02-22\",\n",
      "      256.94000244140625\n",
      "    ],\n",
      "    [\n",
      "      \"2024-03-05\",\n",
      "      264.9800109863281\n",
      "    ],\n",
      "    [\n",
      "      \"2024-03-15\",\n",
      "      266.8599853515625\n",
      "    ],\n",
      "    [\n",
      "      \"2024-03-27\",\n",
      "      272.7900085449219\n",
      "    ],\n",
      "    [\n",
      "      \"2024-04-09\",\n",
      "      265.6199951171875\n",
      "    ],\n",
      "    [\n",
      "      \"2024-04-19\",\n",
      "      252.05999755859375\n",
      "    ],\n",
      "    [\n",
      "      \"2024-05-01\",\n",
      "      259.7300109863281\n",
      "    ],\n",
      "    [\n",
      "      \"2024-05-13\",\n",
      "      270.0899963378906\n",
      "    ],\n",
      "    [\n",
      "      \"2024-05-23\",\n",
      "      257.2099914550781\n",
      "    ],\n",
      "    [\n",
      "      \"2024-06-05\",\n",
      "      251.17999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-06-17\",\n",
      "      256.3500061035156\n",
      "    ],\n",
      "    [\n",
      "      \"2024-06-28\",\n",
      "      248.67999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-07-11\",\n",
      "      254.69000244140625\n",
      "    ],\n",
      "    [\n",
      "      \"2024-07-23\",\n",
      "      260.1499938964844\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-02\",\n",
      "      266.3399963378906\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-14\",\n",
      "      242.5\n",
      "    ],\n",
      "    [\n",
      "      \"2024-08-26\",\n",
      "      250.67999267578125\n",
      "    ],\n",
      "    [\n",
      "      \"2024-09-06\",\n",
      "      231.97000122070312\n",
      "    ]\n",
      "  ],\n",
      "  \"tool_call_id\": \"tool_call_0_node_starts_at_8\"\n",
      "}\n",
      "Final tape:\n"
     ]
    },
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 80ff2cd8-676b-4f2d-8992-916449596d55</summary> <div class='basic-renderer-box'>author: Agent\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 80ff2cd8-676b-4f2d-8992-916449596d55\n",
       "n_added_steps: 2\n",
       "parent_id: 7708f78a-4114-4182-a914-ad77eefd0d4c\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan Materials in 3 sentences</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 367 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan Materials in 3 sentences\n",
       "--\n",
       "user: Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 292 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='Here\\'s a plan to help the user learn about Vulcan Materials using the provided tools:\\n\\n1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\"Vulcan Materials\")`.\\n\\n2. **Get the company\\'s stock data**: Use the retrieved stock ticker symbol to get the company\\'s stock price data using the `get_stock_data` function. For instance, `get_stock_data(\"VMC\", \"2022-01-01\", \"2024-09-17\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\\n\\n3. **Analyze the stock data**: Use the obtained stock data to analyze the company\\'s performance over time. This can include calculating the stock\\'s return, identifying trends, and noting significant events that may have affected the stock price.\\n\\n4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\\n\\n5. **Offer additional insights or resources**: Depending on the user\\'s interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[1] Thought: AssistantThought</h4><pre class='step-text'>kind: assistant_thought\n",
       "\n",
       "<details><summary>1340 characters ...</summary>Here's a plan to help the user learn about Vulcan Materials using the provided tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\"Vulcan Materials\")`.\n",
       "\n",
       "2. **Get the company's stock data**: Use the retrieved stock ticker symbol to get the company's stock price data using the `get_stock_data` function. For instance, `get_stock_data(\"VMC\", \"2022-01-01\", \"2024-09-17\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\n",
       "\n",
       "3. **Analyze the stock data**: Use the obtained stock data to analyze the company's performance over time. This can include calculating the stock's return, identifying trends, and noting significant events that may have affected the stock price.\n",
       "\n",
       "4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\n",
       "\n",
       "5. **Offer additional insights or resources**: Depending on the user's interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 734 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan Materials in 3 sentences\n",
       "--\n",
       "assistant: Here's a plan to help the user learn about Vulcan Materials using the provided tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\"Vulcan Materials\")`.\n",
       "\n",
       "2. **Get the company's stock data**: Use the retrieved stock ticker symbol to get the company's stock price data using the `get_stock_data` function. For instance, `get_stock_data(\"VMC\", \"2022-01-01\", \"2024-09-17\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\n",
       "\n",
       "3. **Analyze the stock data**: Use the obtained stock data to analyze the company's performance over time. This can include calculating the stock's return, identifying trends, and noting significant events that may have affected the stock price.\n",
       "\n",
       "4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\n",
       "\n",
       "5. **Offer additional insights or resources**: Depending on the user's interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 31 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan Materials\"}}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[2] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_ticker\n",
       "    arguments: '{\"company_name\": \"Vulcan Materials\"}'\n",
       "  id: tool_call_0_node_starts_at_2\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[3] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[4] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: tool_call_0_node_starts_at_2\n",
       "\n",
       "VMC</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 776 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan Materials in 3 sentences\n",
       "--\n",
       "assistant: Here's a plan to help the user learn about Vulcan Materials using the provided tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\"Vulcan Materials\")`.\n",
       "\n",
       "2. **Get the company's stock data**: Use the retrieved stock ticker symbol to get the company's stock price data using the `get_stock_data` function. For instance, `get_stock_data(\"VMC\", \"2022-01-01\", \"2024-09-17\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\n",
       "\n",
       "3. **Analyze the stock data**: Use the obtained stock data to analyze the company's performance over time. This can include calculating the stock's return, identifying trends, and noting significant events that may have affected the stock price.\n",
       "\n",
       "4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\n",
       "\n",
       "5. **Offer additional insights or resources**: Depending on the user's interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan Materials\"}}\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 51 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[5] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}'\n",
       "  id: tool_call_0_node_starts_at_5\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[6] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[7] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: tool_call_0_node_starts_at_5\n",
       "\n",
       "<details><summary>2962 characters ...</summary>[('2022-01-03', 207.89999389648438), ('2022-01-13', 199.07000732421875), ('2022-01-26', 183.66000366210938), ('2022-02-07', 182.4199981689453), ('2022-02-17', 187.61000061035156), ('2022-03-02', 178.25), ('2022-03-14', 177.9199981689453), ('2022-03-24', 180.83999633789062), ('2022-04-05', 182.35000610351562), ('2022-04-18', 173.99000549316406), ('2022-04-28', 177.8800048828125), ('2022-05-10', 161.5399932861328), ('2022-05-20', 160.02999877929688), ('2022-06-02', 168.47999572753906), ('2022-06-14', 151.0399932861328), ('2022-06-27', 145.9600067138672), ('2022-07-08', 146.41000366210938), ('2022-07-20', 154.5800018310547), ('2022-08-01', 164.86000061035156), ('2022-08-11', 175.61000061035156), ('2022-08-23', 171.14999389648438), ('2022-09-02', 164.9499969482422), ('2022-09-15', 162.22000122070312), ('2022-09-27', 152.33999633789062), ('2022-10-07', 157.49000549316406), ('2022-10-19', 154.77000427246094), ('2022-10-31', 163.6999969482422), ('2022-11-10', 180.07000732421875), ('2022-11-22', 182.27999877929688), ('2022-12-05', 179.0), ('2022-12-15', 179.27999877929688), ('2022-12-28', 174.08999633789062), ('2023-01-10', 176.75), ('2023-01-23', 179.4499969482422), ('2023-02-02', 187.52000427246094), ('2023-02-14', 185.5800018310547), ('2023-02-27', 181.58999633789062), ('2023-03-09', 174.07000732421875), ('2023-03-21', 166.13999938964844), ('2023-03-31', 171.55999755859375), ('2023-04-13', 169.4600067138672), ('2023-04-25', 169.6699981689453), ('2023-05-05', 193.57000732421875), ('2023-05-17', 196.50999450683594), ('2023-05-30', 196.0500030517578), ('2023-06-09', 206.63999938964844), ('2023-06-22', 213.4499969482422), ('2023-07-05', 220.6300048828125), ('2023-07-17', 223.7100067138672), ('2023-07-27', 218.2899932861328), ('2023-08-08', 226.83999633789062), ('2023-08-18', 211.8000030517578), ('2023-08-30', 218.24000549316406), ('2023-09-12', 214.77000427246094), ('2023-09-22', 200.6199951171875), ('2023-10-04', 205.02999877929688), ('2023-10-16', 213.0399932861328), ('2023-10-26', 193.97000122070312), ('2023-11-07', 207.2100067138672), ('2023-11-17', 212.35000610351562), ('2023-11-30', 213.55999755859375), ('2023-12-12', 220.89999389648438), ('2023-12-22', 224.92999267578125), ('2024-01-05', 221.6199951171875), ('2024-01-18', 225.1199951171875), ('2024-01-30', 231.0500030517578), ('2024-02-09', 240.0), ('2024-02-22', 256.94000244140625), ('2024-03-05', 264.9800109863281), ('2024-03-15', 266.8599853515625), ('2024-03-27', 272.7900085449219), ('2024-04-09', 265.6199951171875), ('2024-04-19', 252.05999755859375), ('2024-05-01', 259.7300109863281), ('2024-05-13', 270.0899963378906), ('2024-05-23', 257.2099914550781), ('2024-06-05', 251.17999267578125), ('2024-06-17', 256.3500061035156), ('2024-06-28', 248.67999267578125), ('2024-07-11', 254.69000244140625), ('2024-07-23', 260.1499938964844), ('2024-08-02', 266.3399963378906), ('2024-08-14', 242.5), ('2024-08-26', 250.67999267578125), ('2024-09-06', 231.97000122070312)]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 2262 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan Materials in 3 sentences\n",
       "--\n",
       "assistant: Here's a plan to help the user learn about Vulcan Materials using the provided tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials. For example, `get_stock_ticker(\"Vulcan Materials\")`.\n",
       "\n",
       "2. **Get the company's stock data**: Use the retrieved stock ticker symbol to get the company's stock price data using the `get_stock_data` function. For instance, `get_stock_data(\"VMC\", \"2022-01-01\", \"2024-09-17\")` to get the stock prices from January 1, 2022, to the current date (September 17, 2024).\n",
       "\n",
       "3. **Analyze the stock data**: Use the obtained stock data to analyze the company's performance over time. This can include calculating the stock's return, identifying trends, and noting significant events that may have affected the stock price.\n",
       "\n",
       "4. **Provide an overview of the company**: In addition to the stock data, provide a brief overview of Vulcan Materials, including its industry, products or services, and notable milestones to give the user a better understanding of the company.\n",
       "\n",
       "5. **Offer additional insights or resources**: Depending on the user's interests, offer additional insights or resources, such as news articles, financial statements, or competitor analysis, to help them gain a deeper understanding of Vulcan Materials and its financials.\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan Materials\"}}\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}}\n",
       "--\n",
       "tool: [('2022-01-03', 207.89999389648438), ('2022-01-13', 199.07000732421875), ('2022-01-26', 183.66000366210938), ('2022-02-07', 182.4199981689453), ('2022-02-17', 187.61000061035156), ('2022-03-02', 178.25), ('2022-03-14', 177.9199981689453), ('2022-03-24', 180.83999633789062), ('2022-04-05', 182.35000610351562), ('2022-04-18', 173.99000549316406), ('2022-04-28', 177.8800048828125), ('2022-05-10', 161.5399932861328), ('2022-05-20', 160.02999877929688), ('2022-06-02', 168.47999572753906), ('2022-06-14', 151.0399932861328), ('2022-06-27', 145.9600067138672), ('2022-07-08', 146.41000366210938), ('2022-07-20', 154.5800018310547), ('2022-08-01', 164.86000061035156), ('2022-08-11', 175.61000061035156), ('2022-08-23', 171.14999389648438), ('2022-09-02', 164.9499969482422), ('2022-09-15', 162.22000122070312), ('2022-09-27', 152.33999633789062), ('2022-10-07', 157.49000549316406), ('2022-10-19', 154.77000427246094), ('2022-10-31', 163.6999969482422), ('2022-11-10', 180.07000732421875), ('2022-11-22', 182.27999877929688), ('2022-12-05', 179.0), ('2022-12-15', 179.27999877929688), ('2022-12-28', 174.08999633789062), ('2023-01-10', 176.75), ('2023-01-23', 179.4499969482422), ('2023-02-02', 187.52000427246094), ('2023-02-14', 185.5800018310547), ('2023-02-27', 181.58999633789062), ('2023-03-09', 174.07000732421875), ('2023-03-21', 166.13999938964844), ('2023-03-31', 171.55999755859375), ('2023-04-13', 169.4600067138672), ('2023-04-25', 169.6699981689453), ('2023-05-05', 193.57000732421875), ('2023-05-17', 196.50999450683594), ('2023-05-30', 196.0500030517578), ('2023-06-09', 206.63999938964844), ('2023-06-22', 213.4499969482422), ('2023-07-05', 220.6300048828125), ('2023-07-17', 223.7100067138672), ('2023-07-27', 218.2899932861328), ('2023-08-08', 226.83999633789062), ('2023-08-18', 211.8000030517578), ('2023-08-30', 218.24000549316406), ('2023-09-12', 214.77000427246094), ('2023-09-22', 200.6199951171875), ('2023-10-04', 205.02999877929688), ('2023-10-16', 213.0399932861328), ('2023-10-26', 193.97000122070312), ('2023-11-07', 207.2100067138672), ('2023-11-17', 212.35000610351562), ('2023-11-30', 213.55999755859375), ('2023-12-12', 220.89999389648438), ('2023-12-22', 224.92999267578125), ('2024-01-05', 221.6199951171875), ('2024-01-18', 225.1199951171875), ('2024-01-30', 231.0500030517578), ('2024-02-09', 240.0), ('2024-02-22', 256.94000244140625), ('2024-03-05', 264.9800109863281), ('2024-03-15', 266.8599853515625), ('2024-03-27', 272.7900085449219), ('2024-04-09', 265.6199951171875), ('2024-04-19', 252.05999755859375), ('2024-05-01', 259.7300109863281), ('2024-05-13', 270.0899963378906), ('2024-05-23', 257.2099914550781), ('2024-06-05', 251.17999267578125), ('2024-06-17', 256.3500061035156), ('2024-06-28', 248.67999267578125), ('2024-07-11', 254.69000244140625), ('2024-07-23', 260.1499938964844), ('2024-08-02', 266.3399963378906), ('2024-08-14', 242.5), ('2024-08-26', 250.67999267578125), ('2024-09-06', 231.97000122070312)]\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 51 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[8] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}'\n",
       "  id: tool_call_0_node_starts_at_8\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[9] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 16,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "final_tape2 = None\n",
    "print(\"Run LLAMA agent!\")\n",
    "for event in main_loop(\n",
    "    agent2, DialogTape() + [UserStep(content=\"Tell me about Vulcan Materials in 3 sentences\")], env, max_loops=3\n",
    "):\n",
    "    if ae := event.agent_event:\n",
    "        if ae.step:\n",
    "            print(ae.step.model_dump_json(indent=2))\n",
    "        if ae.final_tape:\n",
    "            final_tape2 = ae.final_tape\n",
    "    if event.observation:\n",
    "        print(event.observation.model_dump_json(indent=2))\n",
    "assert final_tape2 is not None\n",
    "print(\"Final tape:\")\n",
    "HTML(render_tape_with_prompts(final_tape2, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Sometimes the above agent works well, but quite likely you are seeing that the LLAMA-based agent is having trouble. Let's try to help it. For reproducibility, we'll use a pre-recorded failed tape."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 17,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:44.101248Z",
     "iopub.status.busy": "2024-12-02T12:54:44.100672Z",
     "iopub.status.idle": "2024-12-02T12:54:57.706325Z",
     "shell.execute_reply": "2024-12-02T12:54:57.704648Z"
    }
   },
   "outputs": [
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 57f4a2c0-6837-4c62-8b3d-f84485d1cfbc</summary> <div class='basic-renderer-box'>author: Agent\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 57f4a2c0-6837-4c62-8b3d-f84485d1cfbc\n",
       "n_added_steps: 2\n",
       "parent_id: 5fdf035f-7a69-4c9e-9087-667f962fd7dc\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan Materials in 3 sentences</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[1] Thought: AssistantThought</h4><pre class='step-text'>kind: assistant_thought\n",
       "\n",
       "<details><summary>1206 characters ...</summary>Here's a plan to help the user learn about Vulcan Materials using the available tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials by passing 'Vulcan Materials' as the `company_name` parameter. This will give us the ticker symbol, which we'll use for further research.\n",
       "\n",
       "2. **Get historical stock data**: Use the `get_stock_data` function to retrieve the historical stock prices for Vulcan Materials. We'll pass the obtained ticker symbol, a start date (e.g., '2020-01-01'), and an end date (e.g., '2024-09-17') as parameters to get the stock prices over the specified period.\n",
       "\n",
       "3. **Analyze the stock data**: Examine the obtained stock prices to identify trends, patterns, and correlations. We can calculate key metrics such as the average stock price, highest and lowest prices, and the overall stock performance over the specified period.\n",
       "\n",
       "4. **Provide an overview of Vulcan Materials**: Combine the obtained data with additional information about Vulcan Materials, such as its industry, sector, market capitalization, and major competitors, to provide a comprehensive overview of the company.\n",
       "\n",
       "Let's execute this plan!</details></pre></div><div class='basic-renderer-box action'><h4 class='step-header'>[2] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_ticker\n",
       "    arguments: '{\"company_name\": \"Vulcan Materials\"}'\n",
       "  id: tool_call_0_node_starts_at_2\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[3] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[4] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: tool_call_0_node_starts_at_2\n",
       "\n",
       "VMC</pre></div><div class='basic-renderer-box action'><h4 class='step-header'>[5] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\": \"VMC\", \"start_date\": \"2020-01-01\", \"end_date\": \"2024-09-17\"}'\n",
       "  id: tool_call_0_node_starts_at_5\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[6] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[7] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: tool_call_0_node_starts_at_5\n",
       "\n",
       "<details><summary>2615 characters ...</summary>[('2020-01-02', 142.72000122070312), ('2020-01-27', 138.8800048828125), ('2020-02-19', 135.39999389648438), ('2020-03-12', 107.12000274658203), ('2020-04-03', 99.20999908447266), ('2020-04-28', 110.7699966430664), ('2020-05-20', 101.47000122070312), ('2020-06-12', 112.08999633789062), ('2020-07-07', 122.66999816894531), ('2020-07-29', 121.08000183105469), ('2020-08-20', 126.11000061035156), ('2020-09-14', 130.33999633789062), ('2020-10-06', 141.30999755859375), ('2020-10-28', 137.47999572753906), ('2020-11-19', 140.11000061035156), ('2020-12-14', 135.44000244140625), ('2021-01-07', 162.00999450683594), ('2021-02-01', 152.0), ('2021-02-24', 174.14999389648438), ('2021-03-18', 168.0500030517578), ('2021-04-12', 174.35000610351562), ('2021-05-04', 189.2100067138672), ('2021-05-26', 183.92999267578125), ('2021-06-18', 165.83999633789062), ('2021-07-13', 173.52999877929688), ('2021-08-04', 179.66000366210938), ('2021-08-26', 187.52999877929688), ('2021-09-20', 169.4199981689453), ('2021-10-12', 170.8300018310547), ('2021-11-03', 195.0), ('2021-11-26', 197.4499969482422), ('2021-12-20', 198.77999877929688), ('2022-01-12', 202.8800048828125), ('2022-02-04', 184.0399932861328), ('2022-03-01', 174.44000244140625), ('2022-03-23', 177.33999633789062), ('2022-04-14', 174.77000427246094), ('2022-05-09', 162.9499969482422), ('2022-06-01', 164.5399932861328), ('2022-06-24', 145.82000732421875), ('2022-07-19', 152.57000732421875), ('2022-08-10', 174.52000427246094), ('2022-09-01', 166.22000122070312), ('2022-09-26', 153.9499969482422), ('2022-10-18', 158.77999877929688), ('2022-11-09', 168.94000244140625), ('2022-12-02', 184.49000549316406), ('2022-12-27', 175.67999267578125), ('2023-01-20', 178.88999938964844), ('2023-02-13', 186.05999755859375), ('2023-03-08', 178.9199981689453), ('2023-03-30', 170.13999938964844), ('2023-04-24', 171.41000366210938), ('2023-05-16', 195.00999450683594), ('2023-06-08', 206.17999267578125), ('2023-07-03', 223.33999633789062), ('2023-07-26', 223.4600067138672), ('2023-08-17', 213.3300018310547), ('2023-09-11', 216.58999633789062), ('2023-10-03', 199.99000549316406), ('2023-10-25', 203.3699951171875), ('2023-11-16', 212.27000427246094), ('2023-12-11', 218.86000061035156), ('2024-01-04', 220.67999267578125), ('2024-01-29', 229.3699951171875), ('2024-02-21', 253.42999267578125), ('2024-03-14', 270.7300109863281), ('2024-04-08', 269.7200012207031), ('2024-04-30', 257.6300048828125), ('2024-05-22', 260.8699951171875), ('2024-06-14', 252.63999938964844), ('2024-07-10', 247.72000122070312), ('2024-08-01', 271.1300048828125), ('2024-08-23', 254.88999938964844)]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 2072 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan Materials in 3 sentences\n",
       "--\n",
       "assistant: Here's a plan to help the user learn about Vulcan Materials using the available tools:\n",
       "\n",
       "1. **Get the stock ticker symbol**: Use the `get_stock_ticker` function to retrieve the stock ticker symbol for Vulcan Materials by passing 'Vulcan Materials' as the `company_name` parameter. This will give us the ticker symbol, which we'll use for further research.\n",
       "\n",
       "2. **Get historical stock data**: Use the `get_stock_data` function to retrieve the historical stock prices for Vulcan Materials. We'll pass the obtained ticker symbol, a start date (e.g., '2020-01-01'), and an end date (e.g., '2024-09-17') as parameters to get the stock prices over the specified period.\n",
       "\n",
       "3. **Analyze the stock data**: Examine the obtained stock prices to identify trends, patterns, and correlations. We can calculate key metrics such as the average stock price, highest and lowest prices, and the overall stock performance over the specified period.\n",
       "\n",
       "4. **Provide an overview of Vulcan Materials**: Combine the obtained data with additional information about Vulcan Materials, such as its industry, sector, market capitalization, and major competitors, to provide a comprehensive overview of the company.\n",
       "\n",
       "Let's execute this plan!\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan Materials\"}}\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2020-01-01\", \"end_date\": \"2024-09-17\"}}\n",
       "--\n",
       "tool: [('2020-01-02', 142.72000122070312), ('2020-01-27', 138.8800048828125), ('2020-02-19', 135.39999389648438), ('2020-03-12', 107.12000274658203), ('2020-04-03', 99.20999908447266), ('2020-04-28', 110.7699966430664), ('2020-05-20', 101.47000122070312), ('2020-06-12', 112.08999633789062), ('2020-07-07', 122.66999816894531), ('2020-07-29', 121.08000183105469), ('2020-08-20', 126.11000061035156), ('2020-09-14', 130.33999633789062), ('2020-10-06', 141.30999755859375), ('2020-10-28', 137.47999572753906), ('2020-11-19', 140.11000061035156), ('2020-12-14', 135.44000244140625), ('2021-01-07', 162.00999450683594), ('2021-02-01', 152.0), ('2021-02-24', 174.14999389648438), ('2021-03-18', 168.0500030517578), ('2021-04-12', 174.35000610351562), ('2021-05-04', 189.2100067138672), ('2021-05-26', 183.92999267578125), ('2021-06-18', 165.83999633789062), ('2021-07-13', 173.52999877929688), ('2021-08-04', 179.66000366210938), ('2021-08-26', 187.52999877929688), ('2021-09-20', 169.4199981689453), ('2021-10-12', 170.8300018310547), ('2021-11-03', 195.0), ('2021-11-26', 197.4499969482422), ('2021-12-20', 198.77999877929688), ('2022-01-12', 202.8800048828125), ('2022-02-04', 184.0399932861328), ('2022-03-01', 174.44000244140625), ('2022-03-23', 177.33999633789062), ('2022-04-14', 174.77000427246094), ('2022-05-09', 162.9499969482422), ('2022-06-01', 164.5399932861328), ('2022-06-24', 145.82000732421875), ('2022-07-19', 152.57000732421875), ('2022-08-10', 174.52000427246094), ('2022-09-01', 166.22000122070312), ('2022-09-26', 153.9499969482422), ('2022-10-18', 158.77999877929688), ('2022-11-09', 168.94000244140625), ('2022-12-02', 184.49000549316406), ('2022-12-27', 175.67999267578125), ('2023-01-20', 178.88999938964844), ('2023-02-13', 186.05999755859375), ('2023-03-08', 178.9199981689453), ('2023-03-30', 170.13999938964844), ('2023-04-24', 171.41000366210938), ('2023-05-16', 195.00999450683594), ('2023-06-08', 206.17999267578125), ('2023-07-03', 223.33999633789062), ('2023-07-26', 223.4600067138672), ('2023-08-17', 213.3300018310547), ('2023-09-11', 216.58999633789062), ('2023-10-03', 199.99000549316406), ('2023-10-25', 203.3699951171875), ('2023-11-16', 212.27000427246094), ('2023-12-11', 218.86000061035156), ('2024-01-04', 220.67999267578125), ('2024-01-29', 229.3699951171875), ('2024-02-21', 253.42999267578125), ('2024-03-14', 270.7300109863281), ('2024-04-08', 269.7200012207031), ('2024-04-30', 257.6300048828125), ('2024-05-22', 260.8699951171875), ('2024-06-14', 252.63999938964844), ('2024-07-10', 247.72000122070312), ('2024-08-01', 271.1300048828125), ('2024-08-23', 254.88999938964844)]\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.\n",
       "REMEMBER: check what tool calls you have already made. Do not do the same call again!</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 165 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"response\", \"content\": \"Vulcan Materials, a leading producer of construction materials, has been experiencing a steady growth in its stock prices over the past few years. As of 2024-09-17, the company\\'s stock ticker symbol is VMC. According to historical stock data, VMC\\'s stock prices have been increasing, with some fluctuations, from around $142 in January 2020 to around $254 in August 2024. The company operates in the industrials sector, specifically in the construction materials industry, and has a market capitalization of around $18.5 billion. Some of its major competitors include Martin Marietta Materials, Inc., and Cemex SAB de CV. Overall, Vulcan Materials has demonstrated strong financial performance and a promising outlook for investors.\"}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[8] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan Materials, a leading producer of construction materials, has been experiencing a steady growth in its stock prices over the past few years. As of 2024-09-17, the company's stock ticker symbol is VMC. According to historical stock data, VMC's stock prices have been increasing, with some fluctuations, from around $142 in January 2020 to around $254 in August 2024. The company operates in the industrials sector, specifically in the construction materials industry, and has a market capitalization of around $18.5 billion. Some of its major competitors include Martin Marietta Materials, Inc., and Cemex SAB de CV. Overall, Vulcan Materials has demonstrated strong financial performance and a promising outlook for investors.</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[9] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: plan\n",
       "</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 17,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "with open(\"assets/failed_tape.json\") as src:\n",
    "    failed_tape = DialogTape.model_validate(json.load(src))\n",
    "agent2b = agent2.model_copy(deep=True)\n",
    "agent2b.templates[\"call_or_respond\"] += (\n",
    "    \"REMEMBER: check what tool calls you have already made. Do not do the same call again!\"\n",
    ")\n",
    "resume_from_step8 = agent2b.run(failed_tape[:8]).get_final_tape()\n",
    "HTML(render_tape_with_prompts(resume_from_step8, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "We found that this helpful hint often gets LLAMA-based agent unstuck. Note how easy it was to test it thanks to the ability of the agent to resume from step 8!"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# 4. Tape reuse and training data"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "\n",
    "Another way to help this agent (or one with an even smaller LLM) is to finetune the LLM. And the most important step towards finetuning is making the training data!\n",
    "\n",
    "There are two ways to make training data in TapeAgents:\n",
    "- the basic one: use the `LLMCall` structures that the agent created when it produced the tape. You can retrieve them from the SQLite storage and convert into training text.\n",
    "- the much powerful one: call `agent.reuse` to reconstructed the prompts and outputs **and** to validate that with the reconstructed LLMCalls the agent would indeed create the given tape\n",
    "\n",
    "The big advantage of the second approach is that it allows you to use the tape from a teacher agent (think slower and more expensive) to train a student agent (think faster and cheaper). Or to train an agent on its own revised tapes.\n",
    "\n",
    "Of course, restrictions apply: the tape by agent A may not be reusable by agent B directly. You might have to add/remove some steps. But at least `agent.reuse` verifies if your tape modifications led to creation of a tape that the agent B can indeed produce."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "#### Make training data from the past LLM calls"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 18,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:57.712715Z",
     "iopub.status.busy": "2024-12-02T12:54:57.712333Z",
     "iopub.status.idle": "2024-12-02T12:54:57.730888Z",
     "shell.execute_reply": "2024-12-02T12:54:57.729437Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "Retrieved 4 LLM calls from the tape.\n",
      "From the first retrieved LLM call, the LLM will be trained to predict this text:\n",
      "---\n",
      "{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2022-01-01\", \"end_date\": \"2024-09-17\"}}<|eot_id|>\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.observe import retrieve_tape_llm_calls\n",
    "\n",
    "llm_calls = retrieve_tape_llm_calls(final_tape2)\n",
    "print(f\"Retrieved {len(llm_calls)} LLM calls from the tape.\")\n",
    "# under the hood agent2 will route this request to its llm\n",
    "example_text = agent2.make_training_text(list(llm_calls.values())[0])\n",
    "print(\"From the first retrieved LLM call, the LLM will be trained to predict this text:\")\n",
    "print(\"---\")\n",
    "print(example_text.output_text)\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "#### Make training data by reusing a tape"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Note how `agent2` reuses the tape by `agent1`, even though they have very different prompt and output formats! \n",
    "\n",
    "You can inspect the reused tape below and see that the steps are the same as before, but the prompts and outputs are different."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 19,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:57.736437Z",
     "iopub.status.busy": "2024-12-02T12:54:57.736069Z",
     "iopub.status.idle": "2024-12-02T12:54:57.858880Z",
     "shell.execute_reply": "2024-12-02T12:54:57.856943Z"
    }
   },
   "outputs": [
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 78ac9122-427f-43e8-a8d0-95f8aac0085e</summary> <div class='basic-renderer-box'>author: null\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 78ac9122-427f-43e8-a8d0-95f8aac0085e\n",
       "n_added_steps: 0\n",
       "parent_id: null\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan in 3 sentences</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt -1 tokens , cached</summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "user: Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output -1 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\\n2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\\n3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[1] Thought: AssistantThought</h4><pre class='step-text'>kind: assistant_thought\n",
       "\n",
       "1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt -1 tokens , cached</summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output -1 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan\"}}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[2] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_ticker\n",
       "    arguments: '{\"company_name\": \"Vulcan\"}'\n",
       "  id: tool_call_0_node_starts_at_2\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[3] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[4] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_NcnqtIjiw0YxPPOxfXaJzUSS\n",
       "\n",
       "VMC</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt -1 tokens , cached</summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan\"}}\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output -1 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2024-08-01\", \"end_date\": \"2024-09-16\"}}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[5] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\": \"VMC\", \"start_date\": \"2024-08-01\", \"end_date\": \"2024-09-16\"}'\n",
       "  id: tool_call_0_node_starts_at_5\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[6] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[7] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_lMN9M6yhIgQDH4fHwyo4oOZM\n",
       "\n",
       "<details><summary>1094 characters ...</summary>[('2024-08-01', 271.1300048828125), ('2024-08-02', 266.3399963378906), ('2024-08-05', 257.42999267578125), ('2024-08-06', 246.13999938964844), ('2024-08-07', 241.22000122070312), ('2024-08-08', 246.3300018310547), ('2024-08-09', 244.33999633789062), ('2024-08-12', 241.89999389648438), ('2024-08-13', 243.83999633789062), ('2024-08-14', 242.5), ('2024-08-15', 246.57000732421875), ('2024-08-16', 244.42999267578125), ('2024-08-19', 244.2899932861328), ('2024-08-20', 245.60000610351562), ('2024-08-21', 247.83999633789062), ('2024-08-22', 247.97999572753906), ('2024-08-23', 254.88999938964844), ('2024-08-26', 250.67999267578125), ('2024-08-27', 240.41000366210938), ('2024-08-28', 235.77000427246094), ('2024-08-29', 241.27999877929688), ('2024-08-30', 245.2100067138672), ('2024-09-03', 239.02000427246094), ('2024-09-04', 234.8300018310547), ('2024-09-05', 232.16000366210938), ('2024-09-06', 231.97000122070312), ('2024-09-09', 231.8300018310547), ('2024-09-10', 232.9499969482422), ('2024-09-11', 232.9499969482422), ('2024-09-12', 236.27000427246094), ('2024-09-13', 237.47000122070312)]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt -1 tokens , cached</summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>system: \n",
       "You will help the user to learn about financials of companies.\n",
       "Use as many relevant tools as possible to include more details and facts in your responses.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "You have access to the following tools: [{'type': 'function', 'function': {'name': 'get_stock_ticker', 'description': 'get_stock_ticker(company_name: str) - Get company stock ticker from its name.', 'parameters': {'type': 'object', 'properties': {'company_name': {'type': 'string'}}, 'required': ['company_name']}}}, {'type': 'function', 'function': {'name': 'get_stock_data', 'description': \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\", 'parameters': {'type': 'object', 'properties': {'symbol': {'type': 'string'}, 'start_date': {'type': 'string'}, 'end_date': {'type': 'string'}}, 'required': ['symbol', 'start_date', 'end_date']}}}]\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
       "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_ticker\", \"parameters\": {\"company_name\": \"Vulcan\"}}\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: {\"kind\": \"tool_call\", \"tool_name\": \"get_stock_data\", \"parameters\": {\"symbol\": \"VMC\", \"start_date\": \"2024-08-01\", \"end_date\": \"2024-09-16\"}}\n",
       "--\n",
       "tool: [('2024-08-01', 271.1300048828125), ('2024-08-02', 266.3399963378906), ('2024-08-05', 257.42999267578125), ('2024-08-06', 246.13999938964844), ('2024-08-07', 241.22000122070312), ('2024-08-08', 246.3300018310547), ('2024-08-09', 244.33999633789062), ('2024-08-12', 241.89999389648438), ('2024-08-13', 243.83999633789062), ('2024-08-14', 242.5), ('2024-08-15', 246.57000732421875), ('2024-08-16', 244.42999267578125), ('2024-08-19', 244.2899932861328), ('2024-08-20', 245.60000610351562), ('2024-08-21', 247.83999633789062), ('2024-08-22', 247.97999572753906), ('2024-08-23', 254.88999938964844), ('2024-08-26', 250.67999267578125), ('2024-08-27', 240.41000366210938), ('2024-08-28', 235.77000427246094), ('2024-08-29', 241.27999877929688), ('2024-08-30', 245.2100067138672), ('2024-09-03', 239.02000427246094), ('2024-09-04', 234.8300018310547), ('2024-09-05', 232.16000366210938), ('2024-09-06', 231.97000122070312), ('2024-09-09', 231.8300018310547), ('2024-09-10', 232.9499969482422), ('2024-09-11', 232.9499969482422), ('2024-09-12', 236.27000427246094), ('2024-09-13', 237.47000122070312)]\n",
       "--\n",
       "user: \n",
       "Follow the plan you created earlier. When you are done, respond to the user.\n",
       "If you want to call a or several tools, output JSON like this\n",
       "{\"kind\": \"tool_call\", \"tool_name\": \"...\", \"parameters\": \"... unquoted parameters json ...\"}\n",
       "If you have called all the tools in the plan, respond to the user with the JSON of the form\n",
       "{\"kind\": \"response\", \"content\": \"... you response ... \"}.\n",
       "Output ONE JSON OBJECT ONLY PER LINE ONLY AND NOTHING ELSE.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output -1 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content='{\"kind\": \"response\", \"content\": \"Vulcan Materials Company, trading under the stock ticker symbol VMC, is a major producer of construction aggregates and a leading producer of other construction materials. Over the past month and a half, Vulcan\\'s stock price has experienced fluctuations, starting at approximately $271.13 on August 1, 2024, and closing at around $237.47 on September 13, 2024. This indicates a downward trend in their stock price during this period, reflecting potential market challenges or shifts in investor sentiment.\"}', role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[8] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan Materials Company, trading under the stock ticker symbol VMC, is a major producer of construction aggregates and a leading producer of other construction materials. Over the past month and a half, Vulcan's stock price has experienced fluctuations, starting at approximately $271.13 on August 1, 2024, and closing at around $237.47 on September 13, 2024. This indicates a downward trend in their stock price during this period, reflecting potential market challenges or shifts in investor sentiment.</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[9] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: plan\n",
       "</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 19,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "reused_tape, _ = agent2.reuse(final_tape1)\n",
    "HTML(render_tape_with_prompts(reused_tape, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "We offer a quick way to harness the tape reuse to make training data. "
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 20,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:57.864844Z",
     "iopub.status.busy": "2024-12-02T12:54:57.864323Z",
     "iopub.status.idle": "2024-12-02T12:54:57.960479Z",
     "shell.execute_reply": "2024-12-02T12:54:57.959374Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
      "2. Once the stock ticker is obtained, use the `functions.get_stock_data` tool to retrieve recent stock price data for Vulcan, specifying a relevant date range.\n",
      "3. Compile the information gathered from the stock ticker and stock data to provide a comprehensive overview of Vulcan's financial status and recent performance.<|eot_id|>\n"
     ]
    }
   ],
   "source": [
    "training_data = agent2.make_training_data(final_tape1)\n",
    "print(training_data[0].output_text)\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "What could be simpler than that?!\n",
    "We're only scratching the surface of what TapeAgents can do. We invite you to explore the other tutorials and examples to learn more about the TapeAgents framework."
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "# 5. Multi-agent teams, deeper dive into view stack"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Let's add a colleague to our agent that will help it search the internet! \n",
    "\n",
    "First thing, we need to give this colleague some tools. In TapeAgents, the agents do not use the environment directly, their interaction with the environment is mediated by in orchestrator such as you application. But the agents should know what tools they can call. And if you are using `main_loop` as the orchestrator, it requires one environment that contains tools of all the agents. \n",
    "\n",
    "Let's go ahead and define environments:\n",
    "- the environments of the root agent\n",
    "- the one of its internet search specialist colleague\n",
    "- the environment that contains all the tools.\n",
    "\n",
    "Note that we won't use the first two environments to produce observations, we'll use them only to generate tool schemas for agent."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 21,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:57.965918Z",
     "iopub.status.busy": "2024-12-02T12:54:57.965521Z",
     "iopub.status.idle": "2024-12-02T12:54:58.766403Z",
     "shell.execute_reply": "2024-12-02T12:54:58.765122Z"
    }
   },
   "outputs": [],
   "source": [
    "from tapeagents.tools.simple_browser import SimpleTextBrowser\n",
    "\n",
    "browser = SimpleTextBrowser()\n",
    "search_agent_env = ToolEnvironment([browser.get_search_results, browser.get_page, browser.get_next_page])\n",
    "\n",
    "\n",
    "# We will use the tool choice mechanism to let the main agent call its search specialist agent.\n",
    "# To this end, we create a mock tool that represents calling the search agent.\n",
    "def call_search_agent(query: str):\n",
    "    \"\"\"Use this tool to ask a fellow AI agent to search for information on the web.\"\"\"\n",
    "    pass\n",
    "\n",
    "\n",
    "main_agent_env = ToolEnvironment([get_stock_ticker, get_stock_data, call_search_agent])\n",
    "whole_env = ToolEnvironment(\n",
    "    [get_stock_ticker, get_stock_data, browser.get_search_results, browser.get_page, browser.get_next_page]\n",
    ")\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Before we implement the subagent, let's review the way we do multi-agent communication in TapeAgents:\n",
    "- when the root agent wants to call its subagent \"xyz\", it puts `Call(agent_name=\"xyz\")` step on the tape\n",
    "- at the next iteration, the root agent will compute `TapeViewStack` and delegate to the currently active agent. Right after `Call(agent_name=\"B\")` on top of the stack there will be a new view associated with Agent \"xyz\". The root agent will delegate to \"xyz\" to make the prompt and to generate the steps from \"xyz\"'s current node.\n",
    "- when \"xyz\" is done it will put `Respond()` step on the tape. At the next iteration the view stack won't have \"xyz\"'s view on the top any more. \n",
    "\n",
    "A reader familiar with the concept of a call stack will find the `TapeViewStack` concept very similar...\n",
    "\n",
    "Note that for the purpose of computing the view stack the root agent's name is not known. It's view will be signed as \"root\".\n",
    "\n",
    "Let's explore the way `Call` and `Respond` works with a minimal example.\n"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 22,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:58.771988Z",
     "iopub.status.busy": "2024-12-02T12:54:58.771375Z",
     "iopub.status.idle": "2024-12-02T12:54:58.780348Z",
     "shell.execute_reply": "2024-12-02T12:54:58.779293Z"
    }
   },
   "outputs": [
    {
     "name": "stdout",
     "output_type": "stream",
     "text": [
      "View stack after step 0\n",
      "-- root: UserStep\n",
      "View stack after step 1\n",
      "-- root: UserStep, Call\n",
      "-- root/xyz: Call\n",
      "View stack after step 2\n",
      "-- root: UserStep, Call\n",
      "-- root/xyz: Call, AssistantThought\n",
      "View stack after step 3\n",
      "-- root: UserStep, Call, Respond\n"
     ]
    }
   ],
   "source": [
    "from tapeagents.core import Call, Respond\n",
    "\n",
    "tape = DialogTape(\n",
    "    steps=[\n",
    "        UserStep(content=\"Compute 2 + 2\"),\n",
    "        Call(agent_name=\"xyz\", content=\"what is 2 + 2, dear xyz\"),\n",
    "        AssistantThought(content=\"deep thinking by agent xyz\"),\n",
    "        Respond(content=\"I heard it is 4\"),\n",
    "    ]\n",
    ")\n",
    "# We will print a brief summary of view stack after each step\n",
    "for i in range(0, len(tape)):\n",
    "    print(f\"View stack after step {i}\")\n",
    "    view_stack = TapeViewStack.compute(tape[: i + 1])\n",
    "    for view in view_stack.stack:\n",
    "        step_summary = \", \".join([step.__class__.__name__ for step in view.steps])\n",
    "        print(f\"-- {view.agent_full_name}: {step_summary}\")\n",
    "# Note how \"root/xyz\" view appears after step 1 and disappears after step 3.\n",
    "# Also note how \"root\" does not see private thoughts of \"xyz\" (step 2), and \"xyz\"\n",
    "# does not see the initial observation of root (step 0)\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "We are now ready to proceed to the implementation of the internet search agent!"
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 23,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:54:58.786070Z",
     "iopub.status.busy": "2024-12-02T12:54:58.785659Z",
     "iopub.status.idle": "2024-12-02T12:55:12.151033Z",
     "shell.execute_reply": "2024-12-02T12:55:12.149904Z"
    }
   },
   "outputs": [
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 3adb6b78-ec30-4834-a1b2-db4dc884e1bd</summary> <div class='basic-renderer-box'>author: null\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 3adb6b78-ec30-4834-a1b2-db4dc884e1bd\n",
       "n_added_steps: 0\n",
       "parent_id: null\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box call'><h4 class='step-header'>[0] Agent calls search_agent</h4><pre class='step-text'>kind: call\n",
       "agent_name: search_agent\n",
       "\n",
       "What influenced Nvidia stock price in late 2022?</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 22 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (Agent): What influenced Nvidia stock price in late 2022?</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"query\":\"Nvidia stock price influences late 2022\"}', name='get_search_results'), id='call_mcqyl4SoezduWIdhYOCrF9TX', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[1] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_search_results\n",
       "    arguments: '{\"query\":\"Nvidia stock price influences late 2022\"}'\n",
       "  id: call_mcqyl4SoezduWIdhYOCrF9TX\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[2] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[3] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_mcqyl4SoezduWIdhYOCrF9TX\n",
       "\n",
       "<details><summary>1641 characters ...</summary>[{'title': \"Can Trump's Tariffs Hurt Nvidia? Yes And No, Analysts Say\", 'url': 'https://www.investors.com/research/nvda-stock-is-nvidia-a-buy-2/', 'content': \"3 days ago — Nvidia stock rose from the 50-day moving average on Friday. Analysts noted that Trump's tariff would not hurt Nvidia, barring a few\\xa0...\"}, {'title': 'NVIDIA Corporation - Stock Info - Historical Price Lookup', 'url': 'https://investor.nvidia.com/stock-info/historical-price-lookup/default.aspx', 'content': 'Stock quote & chart, historical price lookup, investment calculator, fundamentals, analyst coverage, financial info, financial reports, SEC filings, quarterly\\xa0...'}, {'title': \"What's going on with Nvidia stock and the booming AI ...\", 'url': 'https://www.techtarget.com/whatis/feature/Whats-going-on-with-Nvidia-stock-and-the-booming-AI-market', 'content': \"Nov 7, 2024 — Nvidia's market value surpassed $3 trillion in 2024, fueled by the generative AI boom, rebounding tech sector and 154% stock growth in 2024.\"}, {'title': 'Can Nvidia Stock Lose 50%?', 'url': 'https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/', 'content': \"Nov 19, 2024 — It was a bumpy ride, with returns for the stock being 125% in 2021, -50% in 2022, and 239% in 2023. The underperformance in NVDA's stock vs. the\\xa0...\"}, {'title': 'AI predicts Nvidia stock price for year-end as NVDA ...', 'url': 'https://finbold.com/ai-predicts-nvidia-stock-price-for-year-end-as-nvda-reaches-new-highs/', 'content': 'Oct 14, 2024 — Finbold consulted one of the most advanced and popular AI models on what will happen with Nvidia stock by the end of 2024.'}]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 476 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (Agent): What influenced Nvidia stock price in late 2022?\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_search_results', 'arguments': '{\"query\":\"Nvidia stock price influences late 2022\"}'}, 'id': 'call_mcqyl4SoezduWIdhYOCrF9TX', 'type': 'function'}]\n",
       "--\n",
       "tool: [{'title': \"Can Trump's Tariffs Hurt Nvidia? Yes And No, Analysts Say\", 'url': 'https://www.investors.com/research/nvda-stock-is-nvidia-a-buy-2/', 'content': \"3 days ago — Nvidia stock rose from the 50-day moving average on Friday. Analysts noted that Trump's tariff would not hurt Nvidia, barring a few\\xa0...\"}, {'title': 'NVIDIA Corporation - Stock Info - Historical Price Lookup', 'url': 'https://investor.nvidia.com/stock-info/historical-price-lookup/default.aspx', 'content': 'Stock quote & chart, historical price lookup, investment calculator, fundamentals, analyst coverage, financial info, financial reports, SEC filings, quarterly\\xa0...'}, {'title': \"What's going on with Nvidia stock and the booming AI ...\", 'url': 'https://www.techtarget.com/whatis/feature/Whats-going-on-with-Nvidia-stock-and-the-booming-AI-market', 'content': \"Nov 7, 2024 — Nvidia's market value surpassed $3 trillion in 2024, fueled by the generative AI boom, rebounding tech sector and 154% stock growth in 2024.\"}, {'title': 'Can Nvidia Stock Lose 50%?', 'url': 'https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/', 'content': \"Nov 19, 2024 — It was a bumpy ride, with returns for the stock being 125% in 2021, -50% in 2022, and 239% in 2023. The underperformance in NVDA's stock vs. the\\xa0...\"}, {'title': 'AI predicts Nvidia stock price for year-end as NVDA ...', 'url': 'https://finbold.com/ai-predicts-nvidia-stock-price-for-year-end-as-nvda-reaches-new-highs/', 'content': 'Oct 14, 2024 — Finbold consulted one of the most advanced and popular AI models on what will happen with Nvidia stock by the end of 2024.'}]</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"url\":\"https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/\"}', name='get_page'), id='call_yxuR6w3IAqS6iYSLJQNVy5cQ', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[4] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_page\n",
       "    arguments: '{\"url\":\"https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/\"}'\n",
       "  id: call_yxuR6w3IAqS6iYSLJQNVy5cQ\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[5] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[6] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_yxuR6w3IAqS6iYSLJQNVy5cQ\n",
       "\n",
       "<details><summary>19670 characters ...</summary>('Title: Can Nvidia Stock Lose 50%?\\n=======================\\n[Shop Our Favorite Holiday Deals!](https://www.forbes.com/vetted/)BETATHIS IS A BETA EXPERIENCE. OPT\\\\-OUT\\xa0HERE### More From Forbes\\n\\nDec 2, 2024,07:00am EST[Is Urban Outfitters\\' 27% Stock Surge Sustainable?](https://www.forbes.com/sites/greatspeculations/2024/12/02/is-urban-outfitters-27-stock-surge-sustainable/)Dec 2, 2024,06:00am EST[What\\'s Next For Rio Stock?](https://www.forbes.com/sites/greatspeculations/2024/12/02/whats-next-for-rio-stock/)Dec 2, 2024,05:00am EST[KDP Stock vs. KMB Stock](https://www.forbes.com/sites/greatspeculations/2024/12/02/kdp-stock-vs-kmb-stock/)Dec 1, 2024,09:46am EST[Why Stocks Are Still Favored In 2025](https://www.forbes.com/sites/tomaspray/2024/12/01/why-stocks-are-still-favored-in-2025/)Nov 30, 2024,10:06pm EST[New Home Sales Fall In October 2024 To Lowest Since November 2022](https://www.forbes.com/sites/jasonschenker/2024/11/30/new-home-sales-fall-in-october-2024-to-lowest-since-november-2022/)Nov 30, 2024,07:54pm EST[November Consumer Confidence Bodes Well For Future GDP Growth](https://www.forbes.com/sites/jasonschenker/2024/11/30/november-consumer-confidence-bodes-well-for-future-gdp-growth/)Nov 30, 2024,06:11pm EST[OPEC Could Extend Production Cuts To Support Oil Prices](https://www.forbes.com/sites/jasonschenker/2024/11/30/opec-could-extend-production-cuts-to-support-oil-prices/)Nov 30, 2024,04:36pm EST[November Payrolls Likely Recovered After Weak October 2024 Jobs Report](https://www.forbes.com/sites/jasonschenker/2024/11/30/november-payrolls-likely-recovered-after-weak-october-2024-jobs-report/)Nov 30, 2024,04:22pm EST[Crypto Markets Have Grown, But They Still Haven’t Grown Up](https://www.forbes.com/sites/greatspeculations/2024/11/30/crypto-markets-have-grown-but-they-still-havent-grown-up/)[Edit Story](https://bertie.forbes.com/#/compose?id=673c7a8aae25972ea53376a7)[Forbes](https://www.forbes.com/)[Money](https://www.forbes.com/money/)[Markets](https://www.forbes.com/markets/)Can Nvidia Stock Lose 50%?\\n==========================\\n\\n[Trefis Team](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"https://www.forbes.com/sites/greatspeculations/people/trefis/\")Contributor[Great Speculations](https://www.forbes.com/sites/greatspeculations/ \"https://www.forbes.com/sites/greatspeculations/\")Contributor GroupOpinions expressed by Forbes Contributors are their own.[Following](https://account.forbes.com/following \"https://account.forbes.com/following\")Nov 19, 2024,06:49am ESTUpdated Nov 20, 2024, 07:53am EST* Share to Facebook\\n* Share to Twitter\\n* Share to Linkedin\\n\\nSUQIAN, CHINA \\\\- NOVEMBER 16, 2024 \\\\- Illustration Nvidia invests in Applied Digital, Suqian City, ... \\\\[\\\\+] Jiangsu Province, China, Nov 16, 2024\\\\. (Photo credit should read CFOTO/Future Publishing via Getty Images)\\n\\nCFOTO/Future Publishing via Getty Images\\n\\n[Nvidia stock](https://www.trefis.com/data/companies/NVDA \"https://www.trefis.com/data/companies/NVDA\") has been a standout performer in the AI boom, rising by over 180% year\\\\-to\\\\-date. However, could this remarkable run reverse, and the stock fall by over 50% from current levels? It’s a real possibility. At the current market price of $140, Nvidia trades at over 80x trailing earnings and 50x projected FY’25 earnings. These multiples seem elevated, but they sure are supported by the company’s recent high growth rates as Nvidia has been witnessing booming demand for its graphics processing units (GPUs), which have become the go\\\\-to silicon for artificial intelligence applications.\\n\\nHowever, stock markets often extrapolate short\\\\-term trends into the long run. For another stock that has been volatile recently see [Is Super Micro Stock A Buy Now?](https://www.forbes.com/sites/greatspeculations/2024/11/20/super-micros-compliance-plan-is-the-stock-a-buy/ \"https://www.forbes.com/sites/greatspeculations/2024/11/20/super-micros-compliance-plan-is-the-stock-a-buy/\") In Nvidia’s case, the price likely assumes that demand growth, pricing power, and profits for Nvidia’s accelerators will remain robust as the generative AI wave holds up. Yet, there are significant risks to this assumption, making a sizable correction a real possibility. The broader economic environment adds another layer of uncertainty. While markets have rallied following the election of Donald Trump, the risk of inflation persists amid threats of tariffs and deportation policies. These factors could impact the interest rate environment and, in turn, the valuation of high\\\\-growth stocks like Nvidia. ([S\\\\&P To Crash More Than 40%?](https://www.forbes.com/sites/greatspeculations/2024/11/18/sp-to-crash-more-than-40/ \"https://www.forbes.com/sites/greatspeculations/2024/11/18/sp-to-crash-more-than-40/\")) We present this downside as a counter to our analysis of [Nvidia’s upside to $300](https://www.trefis.com/stock/nvda/articles/558174/how-nvidia-stock-could-jump-2-5x-to-reach-300/2024-08-28?from=nvidia_downside \"https://www.trefis.com/stock/nvda/articles/558174/how-nvidia-stock-could-jump-2-5x-to-reach-300/2024-08-28?from=nvidia_downside\"). Indeed we believe this broad range of upside and downside potential represents a simple fact: Nvidia is a volatile stock.\\n\\n**How Volatile Has Nvidia Stock Been?**\\n\\nWhile NVDA stock swelled over 10x from levels of $13 in early January 2021 to around $140 now, vs. an increase of about 50% for the S\\\\&P 500 over this roughly 4\\\\-year period. It was a bumpy ride, with returns for the stock being 125% in 2021, \\\\-50% in 2022, and 239% in 2023\\\\. The underperformance in NVDA’s stock vs. the S\\\\&P 500 in 2022 stands out in particular \\\\- as the benchmark index had returns of \\\\-19% that year, compared to a 50% drawdown for Nvidia. Notably, the Trefis [High Quality Portfolio](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\"), with a collection of 30 stocks, has **outperformed the S\\\\&P 500 each year** over the same period. **Why is that?** As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller\\\\-coaster ride as evident in [HQ Portfolio performance metrics](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/37ZjifdJ/High-Quality-Portfolio-Fact-Sheet?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/37ZjifdJ/High-Quality-Portfolio-Fact-Sheet?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\").\\n\\n**Nvidia’s Growth Rates Could Cool Off**\\n\\nNvidia’s sales have grown at a breakneck pace. [Nvidia’s revenues](https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") were up by close to 3x over the last 12 months as companies doubled down on accelerated computing using GPUs to perform more artificial intelligence tasks. However, there is a possibility that growth could cool considerably or potentially even flatline.\\n\\n***Why?***\\n\\nThe underlying economics of the end market for GPU chips and the broader AI ecosystem are weak, and most of Nvidia’s customers remain loss\\\\-making. Large language models are very expensive to build and train. VC firm Sequoia estimated that the AI industry spent $50 billion on Nvidia chips last year, and the total could exceed $100 billion when including ancillary investments. Despite this, these investments have only generated about $3 billion in revenue, with few AI services besides ChatGPT gaining a large base of paying customers. We could very well be in a phase where companies are seeing so\\\\-called FOMO, compelling them to invest in AI just because their rivals are doing so, without a thought about the return on investments. As shareholders seek better returns, we could see capital spending cool off, impacting the likes of Nvidia. The macro environment might also play spoilsport. The Fed all but finalized last week that rates are unlikely to be cut in the Fed’s December meeting amid concerns about inflation. Elevated interest rates could further compound the weak payback equation for AI GPUs.\\n\\nMORE FROM[FORBES VETTED](https://www.forbes.com/vetted/ \"https://www.forbes.com/vetted/\")[### Save Up To 75% With The Best Black Friday Clothing Deals That Are Still Running](https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/black-friday-clothing-deals/ \"https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/black-friday-clothing-deals/\")[ByJordan ThomasForbes Staff](https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/jordanthomas/ \"https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/jordanthomas/\")[### 10 Unofficial Hoka Cyber Week Sales You Don’t Want To Miss](https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/hoka-black-friday-sale/ \"https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/hoka-black-friday-sale/\")[ByAlexandra PolkContributor](https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/alexandrapolk/ \"https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/alexandrapolk/\")\\nSeparately, large AI deployments have two stages: the compute\\\\-intensive training phase, which drives Nvidia’s current demand, and the deployment phase, where trained models are used in real\\\\-world applications with lower power requirements. Most companies are going through the compute\\\\-intensive training phase at the moment, and there’s a real possibility that demand for GPUs could cool off once these companies move to the deployment phase.\\n\\nEven if demand for Nvidia’s products remains strong, growth could face challenges on account of supply constraints or execution issues. Nvidia has adopted a timeline of releasing a new AI chip series annually, which increases the risk of missteps. For instance, Nvidia’s latest Blackwell chip faced certain design flaws which delayed its release by a quarter. Although these issues were eventually resolved, a recent report by The Information indicates that the chip is now overheating when used with certain customized server racks. While Nvidia is reportedly working with its suppliers to redesign these racks to address the problem, the incident highlights the risks associated with Nvidia’s aggressive development schedule. Moreover, Nvidia relies almost entirely on Taiwan Semiconductor Manufacturing Company for GPU production. This dependency could introduce further bottlenecks, as TSMC’s production timelines may not align with Nvidia’s ambitions. While Nvidia aims to launch a new AI chip every year, TSMC requires at least 18 months to set up new manufacturing facilities, according to The Economist. A potential misalignment between Nvidia’s goals and TSMC’s production capabilities could constrain Nvidia’s ability to meet demand effectively.\\n\\nNow, [Nvidia’s revenues](https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") are on track to more than double this year to about $126 billion per consensus estimates. However, if its growth rates slow considerably from here on to just about 15% over the next two years due to the aforementioned factors, sales could see a much more subdued move from around $61 billion in FY’24 to about $166 billion in FY’27\\\\.\\n\\n**Nvidia’s Margins Could Be At Risk**\\n\\nNvidia’s margins (net income, or profits after all expenses and taxes, calculated as a percent of revenues) have been expanding \\\\- they grew from levels of about 25% in FY’19 to about 49% in FY’24 as the company witnessed better economies of scale and a more favorable product mix skewed toward complex data center products. Our dashboard has more details about the various components responsible for [**Nvidia’s net income change.**](https://www.trefis.com/data/companies/NVDA/no-login-required/ZAAYE2tV/What-Drove-the-581-3-Net-Income-Change-for-NVIDIA-in-FY2024-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/ZAAYE2tV/What-Drove-the-581-3-Net-Income-Change-for-NVIDIA-in-FY2024-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\")\\n\\nHowever, there is a real possibility that margins could decline to levels of about 35%. Why is that so? Competition is mounting with other chipmakers such as AMD investing significantly to catch up in this space given the high stakes. AMD claims that its new Instinct MI300X chip outperforms Nvidia’s current chips in several parameters, while Intel is also looking to make a dent in the space with more value\\\\-priced AI chips. Customers are also looking for alternatives to Nvidia, as they look to better manage costs. On Monday IBM said that it was collaborating with AMD to include Instinct MI300X accelerators into its cloud offerings. Separately, big tech players like Google \\\\- who are among the biggest buyers of Nvidia’s GPUs \\\\- are doubling down on their own AI and machine learning\\\\-related silicon. It’s quite likely that stronger competition will make Nvidia’s current revenue growth rates and abnormally high margins unsustainable.\\n\\n**How Does This Impact Nvidia’s Valuation?**\\n\\nIf we combine 1\\\\.3x revenue growth (up 30%) between FY’25 and FY’27, with margins contracting from 50% levels currently to about 35% (down 30%, or 0\\\\.7x), this would imply that net income could decline by roughly 10% by 2027\\\\. Now if earnings shrink by 10%, the P/E multiple is also likely to take a hit as investors re\\\\-assess Nvidia’s long\\\\-term growth prospects. If [Nvidia’s P/E](https://www.trefis.com/data/companies/NVDA/no-login-required/Ny1to52V/NVIDIA-NVDA-Valuation-Ratios-Comparison?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/Ny1to52V/NVIDIA-NVDA-Valuation-Ratios-Comparison?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") gradually shrinks from a multiple of about 50x now to about 25x, this could translate into a decline in Nvidia stock by over 50% to levels of roughly $65 per share. What about the time horizon for this negative\\\\-return scenario? In practice, it won’t make much difference whether it takes two years or five years \\\\- if the competitive threat plays out and Nvidia’s GPU cash cow faces headwinds, we could see a sizable correction in Nvidia stock. (Should you [Buy, Sell, Or Hold Nvidia Stock?](https://www.forbes.com/sites/greatspeculations/2024/10/25/buy-sell-or-hold-nvidia-stock/ \"https://www.forbes.com/sites/greatspeculations/2024/10/25/buy-sell-or-hold-nvidia-stock/\")) And it could be a bumpy ride yet again.\\n\\nWhile there is certainly a case to be made for long\\\\-term gains from NVDA stock, the Trefis [High Quality Portfolio](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") could be right up your alley if consistent outperformance is at the top of your list.\\n\\nNVDA Return Compared With Trefis Reinforced Portfolio\\n\\nTrefis\\n\\nInvest with **Trefis** [**Market Beating Portfolios**](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-211-Return-Since-2016-vs-95-for-S-P-500?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-211-Return-Since-2016-vs-95-for-S-P-500?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks\")\\n\\nSee all **Trefis** [**Price Estimates**](https://dashboards.trefis.com/data/price-estimates?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks \"https://dashboards.trefis.com/data/price-estimates?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks\")\\n\\n[![Trefis Team](https://blogs-images.forbes.com/greatspeculations/files/2014/07/Trefis-Team_avatar_1404395763-400x400.png)](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"Photo of Trefis Team\")[Trefis Team](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"https://www.forbes.com/sites/greatspeculations/people/trefis/\")[Following](https://account.forbes.com/following \"https://account.forbes.com/following\")* [Editorial Standards](https://www.forbes.com/sites/forbesstaff/article/forbes-editorial-values-and-standards/)\\n* [Forbes Accolades](https://www.parsintl.com/publications/forbes/)\\n\\n### Join The Conversation\\n\\nComments\\xa0One Community. Many Voices.\\xa0Create a free account to share your thoughts.\\n\\nRead our community guidelines\\xa0 here.![](https://static-cdn.spot.im/assets/community-guidelines/community-guidelines-symbol.svg)Forbes Community Guidelines\\n---------------------------\\n\\nOur community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.\\n\\nIn order to do so, please follow the posting rules in our site\\'s\\xa0[Terms of Service.](https://www.forbes.com/terms-and-conditions)\\xa0 We\\'ve summarized some of those key rules below. Simply put, keep it civil.\\n\\nYour post will be rejected if we notice that it seems to contain:\\n\\n* False or intentionally out\\\\-of\\\\-context or misleading information\\n* Spam\\n* Insults, profanity, incoherent, obscene or inflammatory language or threats of any kind\\n* Attacks on the identity of other commenters or the article\\'s author\\n* Content that otherwise violates our site\\'s\\xa0[terms.](https://www.forbes.com/terms-and-conditions)\\n\\nUser accounts will be blocked if we notice or believe that users are engaged in:\\n\\n* Continuous attempts to re\\\\-post comments that have been previously moderated/rejected\\n* Racist, sexist, homophobic or other discriminatory comments\\n* Attempts or tactics that put the site security at risk\\n* Actions that otherwise violate our site\\'s\\xa0[terms.](https://www.forbes.com/terms-and-conditions)\\n\\nSo, how can you be a power user?\\n\\n* Stay on topic and share your insights\\n* Feel free to be clear and thoughtful to get your point across\\n* ‘Like’ or ‘Dislike’ to show your point of view.\\n* Protect your community.\\n* Use the report tool to alert us when someone breaks the rules.\\n\\nThanks for reading our community guidelines. Please read the full list of posting rules found in our site\\'s\\xa0[Terms of Service.](https://www.forbes.com/terms-and-conditions)', 1, 0)</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 5741 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (Agent): What influenced Nvidia stock price in late 2022?\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_search_results', 'arguments': '{\"query\":\"Nvidia stock price influences late 2022\"}'}, 'id': 'call_mcqyl4SoezduWIdhYOCrF9TX', 'type': 'function'}]\n",
       "--\n",
       "tool: [{'title': \"Can Trump's Tariffs Hurt Nvidia? Yes And No, Analysts Say\", 'url': 'https://www.investors.com/research/nvda-stock-is-nvidia-a-buy-2/', 'content': \"3 days ago — Nvidia stock rose from the 50-day moving average on Friday. Analysts noted that Trump's tariff would not hurt Nvidia, barring a few\\xa0...\"}, {'title': 'NVIDIA Corporation - Stock Info - Historical Price Lookup', 'url': 'https://investor.nvidia.com/stock-info/historical-price-lookup/default.aspx', 'content': 'Stock quote & chart, historical price lookup, investment calculator, fundamentals, analyst coverage, financial info, financial reports, SEC filings, quarterly\\xa0...'}, {'title': \"What's going on with Nvidia stock and the booming AI ...\", 'url': 'https://www.techtarget.com/whatis/feature/Whats-going-on-with-Nvidia-stock-and-the-booming-AI-market', 'content': \"Nov 7, 2024 — Nvidia's market value surpassed $3 trillion in 2024, fueled by the generative AI boom, rebounding tech sector and 154% stock growth in 2024.\"}, {'title': 'Can Nvidia Stock Lose 50%?', 'url': 'https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/', 'content': \"Nov 19, 2024 — It was a bumpy ride, with returns for the stock being 125% in 2021, -50% in 2022, and 239% in 2023. The underperformance in NVDA's stock vs. the\\xa0...\"}, {'title': 'AI predicts Nvidia stock price for year-end as NVDA ...', 'url': 'https://finbold.com/ai-predicts-nvidia-stock-price-for-year-end-as-nvda-reaches-new-highs/', 'content': 'Oct 14, 2024 — Finbold consulted one of the most advanced and popular AI models on what will happen with Nvidia stock by the end of 2024.'}]\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_page', 'arguments': '{\"url\":\"https://www.forbes.com/sites/greatspeculations/2024/11/19/can-nvidia-stock-lose-50/\"}'}, 'id': 'call_yxuR6w3IAqS6iYSLJQNVy5cQ', 'type': 'function'}]\n",
       "--\n",
       "tool: ('Title: Can Nvidia Stock Lose 50%?\\n=======================\\n[Shop Our Favorite Holiday Deals!](https://www.forbes.com/vetted/)BETATHIS IS A BETA EXPERIENCE. OPT\\\\-OUT\\xa0HERE### More From Forbes\\n\\nDec 2, 2024,07:00am EST[Is Urban Outfitters\\' 27% Stock Surge Sustainable?](https://www.forbes.com/sites/greatspeculations/2024/12/02/is-urban-outfitters-27-stock-surge-sustainable/)Dec 2, 2024,06:00am EST[What\\'s Next For Rio Stock?](https://www.forbes.com/sites/greatspeculations/2024/12/02/whats-next-for-rio-stock/)Dec 2, 2024,05:00am EST[KDP Stock vs. KMB Stock](https://www.forbes.com/sites/greatspeculations/2024/12/02/kdp-stock-vs-kmb-stock/)Dec 1, 2024,09:46am EST[Why Stocks Are Still Favored In 2025](https://www.forbes.com/sites/tomaspray/2024/12/01/why-stocks-are-still-favored-in-2025/)Nov 30, 2024,10:06pm EST[New Home Sales Fall In October 2024 To Lowest Since November 2022](https://www.forbes.com/sites/jasonschenker/2024/11/30/new-home-sales-fall-in-october-2024-to-lowest-since-november-2022/)Nov 30, 2024,07:54pm EST[November Consumer Confidence Bodes Well For Future GDP Growth](https://www.forbes.com/sites/jasonschenker/2024/11/30/november-consumer-confidence-bodes-well-for-future-gdp-growth/)Nov 30, 2024,06:11pm EST[OPEC Could Extend Production Cuts To Support Oil Prices](https://www.forbes.com/sites/jasonschenker/2024/11/30/opec-could-extend-production-cuts-to-support-oil-prices/)Nov 30, 2024,04:36pm EST[November Payrolls Likely Recovered After Weak October 2024 Jobs Report](https://www.forbes.com/sites/jasonschenker/2024/11/30/november-payrolls-likely-recovered-after-weak-october-2024-jobs-report/)Nov 30, 2024,04:22pm EST[Crypto Markets Have Grown, But They Still Haven’t Grown Up](https://www.forbes.com/sites/greatspeculations/2024/11/30/crypto-markets-have-grown-but-they-still-havent-grown-up/)[Edit Story](https://bertie.forbes.com/#/compose?id=673c7a8aae25972ea53376a7)[Forbes](https://www.forbes.com/)[Money](https://www.forbes.com/money/)[Markets](https://www.forbes.com/markets/)Can Nvidia Stock Lose 50%?\\n==========================\\n\\n[Trefis Team](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"https://www.forbes.com/sites/greatspeculations/people/trefis/\")Contributor[Great Speculations](https://www.forbes.com/sites/greatspeculations/ \"https://www.forbes.com/sites/greatspeculations/\")Contributor GroupOpinions expressed by Forbes Contributors are their own.[Following](https://account.forbes.com/following \"https://account.forbes.com/following\")Nov 19, 2024,06:49am ESTUpdated Nov 20, 2024, 07:53am EST* Share to Facebook\\n* Share to Twitter\\n* Share to Linkedin\\n\\nSUQIAN, CHINA \\\\- NOVEMBER 16, 2024 \\\\- Illustration Nvidia invests in Applied Digital, Suqian City, ... \\\\[\\\\+] Jiangsu Province, China, Nov 16, 2024\\\\. (Photo credit should read CFOTO/Future Publishing via Getty Images)\\n\\nCFOTO/Future Publishing via Getty Images\\n\\n[Nvidia stock](https://www.trefis.com/data/companies/NVDA \"https://www.trefis.com/data/companies/NVDA\") has been a standout performer in the AI boom, rising by over 180% year\\\\-to\\\\-date. However, could this remarkable run reverse, and the stock fall by over 50% from current levels? It’s a real possibility. At the current market price of $140, Nvidia trades at over 80x trailing earnings and 50x projected FY’25 earnings. These multiples seem elevated, but they sure are supported by the company’s recent high growth rates as Nvidia has been witnessing booming demand for its graphics processing units (GPUs), which have become the go\\\\-to silicon for artificial intelligence applications.\\n\\nHowever, stock markets often extrapolate short\\\\-term trends into the long run. For another stock that has been volatile recently see [Is Super Micro Stock A Buy Now?](https://www.forbes.com/sites/greatspeculations/2024/11/20/super-micros-compliance-plan-is-the-stock-a-buy/ \"https://www.forbes.com/sites/greatspeculations/2024/11/20/super-micros-compliance-plan-is-the-stock-a-buy/\") In Nvidia’s case, the price likely assumes that demand growth, pricing power, and profits for Nvidia’s accelerators will remain robust as the generative AI wave holds up. Yet, there are significant risks to this assumption, making a sizable correction a real possibility. The broader economic environment adds another layer of uncertainty. While markets have rallied following the election of Donald Trump, the risk of inflation persists amid threats of tariffs and deportation policies. These factors could impact the interest rate environment and, in turn, the valuation of high\\\\-growth stocks like Nvidia. ([S\\\\&P To Crash More Than 40%?](https://www.forbes.com/sites/greatspeculations/2024/11/18/sp-to-crash-more-than-40/ \"https://www.forbes.com/sites/greatspeculations/2024/11/18/sp-to-crash-more-than-40/\")) We present this downside as a counter to our analysis of [Nvidia’s upside to $300](https://www.trefis.com/stock/nvda/articles/558174/how-nvidia-stock-could-jump-2-5x-to-reach-300/2024-08-28?from=nvidia_downside \"https://www.trefis.com/stock/nvda/articles/558174/how-nvidia-stock-could-jump-2-5x-to-reach-300/2024-08-28?from=nvidia_downside\"). Indeed we believe this broad range of upside and downside potential represents a simple fact: Nvidia is a volatile stock.\\n\\n**How Volatile Has Nvidia Stock Been?**\\n\\nWhile NVDA stock swelled over 10x from levels of $13 in early January 2021 to around $140 now, vs. an increase of about 50% for the S\\\\&P 500 over this roughly 4\\\\-year period. It was a bumpy ride, with returns for the stock being 125% in 2021, \\\\-50% in 2022, and 239% in 2023\\\\. The underperformance in NVDA’s stock vs. the S\\\\&P 500 in 2022 stands out in particular \\\\- as the benchmark index had returns of \\\\-19% that year, compared to a 50% drawdown for Nvidia. Notably, the Trefis [High Quality Portfolio](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\"), with a collection of 30 stocks, has **outperformed the S\\\\&P 500 each year** over the same period. **Why is that?** As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller\\\\-coaster ride as evident in [HQ Portfolio performance metrics](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/37ZjifdJ/High-Quality-Portfolio-Fact-Sheet?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/37ZjifdJ/High-Quality-Portfolio-Fact-Sheet?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\").\\n\\n**Nvidia’s Growth Rates Could Cool Off**\\n\\nNvidia’s sales have grown at a breakneck pace. [Nvidia’s revenues](https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") were up by close to 3x over the last 12 months as companies doubled down on accelerated computing using GPUs to perform more artificial intelligence tasks. However, there is a possibility that growth could cool considerably or potentially even flatline.\\n\\n***Why?***\\n\\nThe underlying economics of the end market for GPU chips and the broader AI ecosystem are weak, and most of Nvidia’s customers remain loss\\\\-making. Large language models are very expensive to build and train. VC firm Sequoia estimated that the AI industry spent $50 billion on Nvidia chips last year, and the total could exceed $100 billion when including ancillary investments. Despite this, these investments have only generated about $3 billion in revenue, with few AI services besides ChatGPT gaining a large base of paying customers. We could very well be in a phase where companies are seeing so\\\\-called FOMO, compelling them to invest in AI just because their rivals are doing so, without a thought about the return on investments. As shareholders seek better returns, we could see capital spending cool off, impacting the likes of Nvidia. The macro environment might also play spoilsport. The Fed all but finalized last week that rates are unlikely to be cut in the Fed’s December meeting amid concerns about inflation. Elevated interest rates could further compound the weak payback equation for AI GPUs.\\n\\nMORE FROM[FORBES VETTED](https://www.forbes.com/vetted/ \"https://www.forbes.com/vetted/\")[### Save Up To 75% With The Best Black Friday Clothing Deals That Are Still Running](https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/black-friday-clothing-deals/ \"https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/black-friday-clothing-deals/\")[ByJordan ThomasForbes Staff](https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/jordanthomas/ \"https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/jordanthomas/\")[### 10 Unofficial Hoka Cyber Week Sales You Don’t Want To Miss](https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/hoka-black-friday-sale/ \"https://www.forbes.com/sites/forbes-personal-shopper/2024/12/01/hoka-black-friday-sale/\")[ByAlexandra PolkContributor](https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/alexandrapolk/ \"https://www.forbes.comhttps://www.forbes.com/sites/forbes-personal-shopper/people/alexandrapolk/\")\\nSeparately, large AI deployments have two stages: the compute\\\\-intensive training phase, which drives Nvidia’s current demand, and the deployment phase, where trained models are used in real\\\\-world applications with lower power requirements. Most companies are going through the compute\\\\-intensive training phase at the moment, and there’s a real possibility that demand for GPUs could cool off once these companies move to the deployment phase.\\n\\nEven if demand for Nvidia’s products remains strong, growth could face challenges on account of supply constraints or execution issues. Nvidia has adopted a timeline of releasing a new AI chip series annually, which increases the risk of missteps. For instance, Nvidia’s latest Blackwell chip faced certain design flaws which delayed its release by a quarter. Although these issues were eventually resolved, a recent report by The Information indicates that the chip is now overheating when used with certain customized server racks. While Nvidia is reportedly working with its suppliers to redesign these racks to address the problem, the incident highlights the risks associated with Nvidia’s aggressive development schedule. Moreover, Nvidia relies almost entirely on Taiwan Semiconductor Manufacturing Company for GPU production. This dependency could introduce further bottlenecks, as TSMC’s production timelines may not align with Nvidia’s ambitions. While Nvidia aims to launch a new AI chip every year, TSMC requires at least 18 months to set up new manufacturing facilities, according to The Economist. A potential misalignment between Nvidia’s goals and TSMC’s production capabilities could constrain Nvidia’s ability to meet demand effectively.\\n\\nNow, [Nvidia’s revenues](https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/1eZgttoo/Nvidia-Revenues-How-Does-NVDA-Make-Money-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") are on track to more than double this year to about $126 billion per consensus estimates. However, if its growth rates slow considerably from here on to just about 15% over the next two years due to the aforementioned factors, sales could see a much more subdued move from around $61 billion in FY’24 to about $166 billion in FY’27\\\\.\\n\\n**Nvidia’s Margins Could Be At Risk**\\n\\nNvidia’s margins (net income, or profits after all expenses and taxes, calculated as a percent of revenues) have been expanding \\\\- they grew from levels of about 25% in FY’19 to about 49% in FY’24 as the company witnessed better economies of scale and a more favorable product mix skewed toward complex data center products. Our dashboard has more details about the various components responsible for [**Nvidia’s net income change.**](https://www.trefis.com/data/companies/NVDA/no-login-required/ZAAYE2tV/What-Drove-the-581-3-Net-Income-Change-for-NVIDIA-in-FY2024-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/ZAAYE2tV/What-Drove-the-581-3-Net-Income-Change-for-NVIDIA-in-FY2024-?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\")\\n\\nHowever, there is a real possibility that margins could decline to levels of about 35%. Why is that so? Competition is mounting with other chipmakers such as AMD investing significantly to catch up in this space given the high stakes. AMD claims that its new Instinct MI300X chip outperforms Nvidia’s current chips in several parameters, while Intel is also looking to make a dent in the space with more value\\\\-priced AI chips. Customers are also looking for alternatives to Nvidia, as they look to better manage costs. On Monday IBM said that it was collaborating with AMD to include Instinct MI300X accelerators into its cloud offerings. Separately, big tech players like Google \\\\- who are among the biggest buyers of Nvidia’s GPUs \\\\- are doubling down on their own AI and machine learning\\\\-related silicon. It’s quite likely that stronger competition will make Nvidia’s current revenue growth rates and abnormally high margins unsustainable.\\n\\n**How Does This Impact Nvidia’s Valuation?**\\n\\nIf we combine 1\\\\.3x revenue growth (up 30%) between FY’25 and FY’27, with margins contracting from 50% levels currently to about 35% (down 30%, or 0\\\\.7x), this would imply that net income could decline by roughly 10% by 2027\\\\. Now if earnings shrink by 10%, the P/E multiple is also likely to take a hit as investors re\\\\-assess Nvidia’s long\\\\-term growth prospects. If [Nvidia’s P/E](https://www.trefis.com/data/companies/NVDA/no-login-required/Ny1to52V/NVIDIA-NVDA-Valuation-Ratios-Comparison?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/NVDA/no-login-required/Ny1to52V/NVIDIA-NVDA-Valuation-Ratios-Comparison?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") gradually shrinks from a multiple of about 50x now to about 25x, this could translate into a decline in Nvidia stock by over 50% to levels of roughly $65 per share. What about the time horizon for this negative\\\\-return scenario? In practice, it won’t make much difference whether it takes two years or five years \\\\- if the competitive threat plays out and Nvidia’s GPU cash cow faces headwinds, we could see a sizable correction in Nvidia stock. (Should you [Buy, Sell, Or Hold Nvidia Stock?](https://www.forbes.com/sites/greatspeculations/2024/10/25/buy-sell-or-hold-nvidia-stock/ \"https://www.forbes.com/sites/greatspeculations/2024/10/25/buy-sell-or-hold-nvidia-stock/\")) And it could be a bumpy ride yet again.\\n\\nWhile there is certainly a case to be made for long\\\\-term gains from NVDA stock, the Trefis [High Quality Portfolio](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50 \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-210-Return-Since-2016-vs-94-for-S-P-500?fromforbesandarticle=nvda11192024-could-nvidia-stock-crash-50\") could be right up your alley if consistent outperformance is at the top of your list.\\n\\nNVDA Return Compared With Trefis Reinforced Portfolio\\n\\nTrefis\\n\\nInvest with **Trefis** [**Market Beating Portfolios**](https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-211-Return-Since-2016-vs-95-for-S-P-500?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks \"https://www.trefis.com/data/companies/PORTFOLIOS/no-login-required/RsQ6oXgC/High-Quality-Portfolio-30-Stocks-with-211-Return-Since-2016-vs-95-for-S-P-500?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks\")\\n\\nSee all **Trefis** [**Price Estimates**](https://dashboards.trefis.com/data/price-estimates?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks \"https://dashboards.trefis.com/data/price-estimates?fromforbesandarticle11192024-could-nvidia-stock-crash-50-EndLinks\")\\n\\n[![Trefis Team](https://blogs-images.forbes.com/greatspeculations/files/2014/07/Trefis-Team_avatar_1404395763-400x400.png)](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"Photo of Trefis Team\")[Trefis Team](https://www.forbes.com/sites/greatspeculations/people/trefis/ \"https://www.forbes.com/sites/greatspeculations/people/trefis/\")[Following](https://account.forbes.com/following \"https://account.forbes.com/following\")* [Editorial Standards](https://www.forbes.com/sites/forbesstaff/article/forbes-editorial-values-and-standards/)\\n* [Forbes Accolades](https://www.parsintl.com/publications/forbes/)\\n\\n### Join The Conversation\\n\\nComments\\xa0One Community. Many Voices.\\xa0Create a free account to share your thoughts.\\n\\nRead our community guidelines\\xa0 here.![](https://static-cdn.spot.im/assets/community-guidelines/community-guidelines-symbol.svg)Forbes Community Guidelines\\n---------------------------\\n\\nOur community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.\\n\\nIn order to do so, please follow the posting rules in our site\\'s\\xa0[Terms of Service.](https://www.forbes.com/terms-and-conditions)\\xa0 We\\'ve summarized some of those key rules below. Simply put, keep it civil.\\n\\nYour post will be rejected if we notice that it seems to contain:\\n\\n* False or intentionally out\\\\-of\\\\-context or misleading information\\n* Spam\\n* Insults, profanity, incoherent, obscene or inflammatory language or threats of any kind\\n* Attacks on the identity of other commenters or the article\\'s author\\n* Content that otherwise violates our site\\'s\\xa0[terms.](https://www.forbes.com/terms-and-conditions)\\n\\nUser accounts will be blocked if we notice or believe that users are engaged in:\\n\\n* Continuous attempts to re\\\\-post comments that have been previously moderated/rejected\\n* Racist, sexist, homophobic or other discriminatory comments\\n* Attempts or tactics that put the site security at risk\\n* Actions that otherwise violate our site\\'s\\xa0[terms.](https://www.forbes.com/terms-and-conditions)\\n\\nSo, how can you be a power user?\\n\\n* Stay on topic and share your insights\\n* Feel free to be clear and thoughtful to get your point across\\n* ‘Like’ or ‘Dislike’ to show your point of view.\\n* Protect your community.\\n* Use the report tool to alert us when someone breaks the rules.\\n\\nThanks for reading our community guidelines. Please read the full list of posting rules found in our site\\'s\\xa0[Terms of Service.](https://www.forbes.com/terms-and-conditions)', 1, 0)</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 273 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"In late 2022, Nvidia's stock price was influenced by several factors:\\n\\n1. **Market Volatility**: Nvidia's stock experienced a significant drawdown of 50% in 2022, compared to a 19% decline for the S&P 500. This underperformance was notable given the broader market conditions.\\n\\n2. **Economic Environment**: The broader economic environment, including inflation risks and potential tariff threats, added uncertainty to high-growth stocks like Nvidia. These factors could impact interest rates and valuations.\\n\\n3. **AI Boom and Demand for GPUs**: Nvidia's growth was driven by booming demand for its GPUs, which are crucial for AI applications. However, there were risks that the demand growth, pricing power, and profits might not sustain as expected.\\n\\n4. **Supply Chain and Competition**: Nvidia faced potential supply constraints and execution issues, such as design flaws in its Blackwell chip. Additionally, competition from other chipmakers like AMD and Intel posed risks to Nvidia's market share and margins.\\n\\n5. **Investment in AI**: The AI industry was heavily investing in Nvidia chips, but the return on these investments was not proportionate, leading to concerns about the sustainability of such spending.\\n\\nOverall, Nvidia's stock was influenced by a combination of market volatility, economic factors, demand for AI technologies, supply chain challenges, and competitive pressures.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box respond'><h4 class='step-header'>[7] search_agent responds to Agent</h4><pre class='step-text'>kind: respond\n",
       "copy_output: false\n",
       "\n",
       "<details><summary>1393 characters ...</summary>In late 2022, Nvidia's stock price was influenced by several factors:\n",
       "\n",
       "1. **Market Volatility**: Nvidia's stock experienced a significant drawdown of 50% in 2022, compared to a 19% decline for the S&P 500. This underperformance was notable given the broader market conditions.\n",
       "\n",
       "2. **Economic Environment**: The broader economic environment, including inflation risks and potential tariff threats, added uncertainty to high-growth stocks like Nvidia. These factors could impact interest rates and valuations.\n",
       "\n",
       "3. **AI Boom and Demand for GPUs**: Nvidia's growth was driven by booming demand for its GPUs, which are crucial for AI applications. However, there were risks that the demand growth, pricing power, and profits might not sustain as expected.\n",
       "\n",
       "4. **Supply Chain and Competition**: Nvidia faced potential supply constraints and execution issues, such as design flaws in its Blackwell chip. Additionally, competition from other chipmakers like AMD and Intel posed risks to Nvidia's market share and margins.\n",
       "\n",
       "5. **Investment in AI**: The AI industry was heavily investing in Nvidia chips, but the return on these investments was not proportionate, leading to concerns about the sustainability of such spending.\n",
       "\n",
       "Overall, Nvidia's stock was influenced by a combination of market volatility, economic factors, demand for AI technologies, supply chain challenges, and competitive pressures.</details></pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "execution_count": 23,
     "metadata": {},
     "output_type": "execute_result"
    }
   ],
   "source": [
    "from tapeagents.nodes import FixedStepsNode\n",
    "from tapeagents.core import Respond\n",
    "from tapeagents.prompting import view_to_messages\n",
    "\n",
    "search_system_instruction = \"Use at most 5 tool calls to search the request info on on the web.\"\n",
    "search_system_message = {\"role\": \"system\", \"content\": search_system_instruction}\n",
    "\n",
    "\n",
    "class SearchAgentMainNode(Node):\n",
    "    name: str = \"main\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        view = agent.compute_view(tape)\n",
    "        return Prompt(messages=view_to_messages(view.top, agent), tools=search_agent_env.get_tool_schema_dicts())\n",
    "\n",
    "    def generate_steps(self, agent, tape, llm_stream: LLMStream):\n",
    "        o = llm_stream.get_output()\n",
    "        if o.content:\n",
    "            # if the LLM responds, yield Respond(..) as your last step\n",
    "            yield Respond(content=o.content)\n",
    "        elif o.tool_calls:\n",
    "            # when the LLM suggests tool calls, yield them as action steps\n",
    "            yield ToolCalls.from_llm_output(o)\n",
    "            yield SetNextNode(next_node=\"main\")\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "search_agent = Agent.create(\n",
    "    name=\"search_agent\",\n",
    "    llms=LiteLLM(model_name=\"gpt-4o\", parameters={\"temperature\": 0.1}),\n",
    "    nodes=[SearchAgentMainNode()],\n",
    ")\n",
    "# To test the subagent, we'll make a mock root agent that immediately calls \"search_agent\"\n",
    "call_step = Call(agent_name=\"search_agent\", content=\"What influenced Nvidia stock price in late 2022?\")\n",
    "test_root_agent = Agent.create(subagents=[search_agent], nodes=[FixedStepsNode(steps=[call_step])])\n",
    "start_tape = DialogTape()\n",
    "final_tape = None\n",
    "for event in main_loop(test_root_agent, start_tape, search_agent_env):\n",
    "    # We need to stop the loop when \"search_agent\" responds,\n",
    "    # otherwise the code will crash because `test_root_agent` only has one node.\n",
    "    if (ae := event.agent_event) and isinstance(ae.step, Respond):\n",
    "        final_tape = ae.partial_tape\n",
    "        break\n",
    "assert final_tape\n",
    "HTML(render_tape_with_prompts(final_tape, PrettyRenderer()))\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Finally, let's add the search subagent to a financial analyst agent like the ones in earlier examples. We need to give the root agent a way to use the LLM to decide whether to call the search specialist, and if yes, what query to pass to it. We will abuse the tool calling mechanism for this purpose to make the example simpler."
   ]
  },
  {
   "cell_type": "code",
   "execution_count": 24,
   "metadata": {
    "execution": {
     "iopub.execute_input": "2024-12-02T12:55:12.158576Z",
     "iopub.status.busy": "2024-12-02T12:55:12.158221Z",
     "iopub.status.idle": "2024-12-02T12:55:34.574248Z",
     "shell.execute_reply": "2024-12-02T12:55:34.572856Z"
    }
   },
   "outputs": [
    {
     "data": {
      "text/html": [
       "<style>.basic-renderer-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; white-space: pre-wrap; color: black;}.basic-prompt-box { margin: 4px; padding: 2px; padding-left: 6px; background: lavender; color: black;}.episode-row { display: flex; align-items: end; }.agent-column { width: 50%; }.user-column { width: 25%; }.annotator-column { width: 25%; }.inner-tape-container { display: flex }.inner-tape-indent { width: 10%; }.inner-tape { width: 90%; }.agent_node { text-align: center; position: relative; margin: 12px 0; }.agent_node hr { border: 1px solid #e1e1e1; margin: 0 !important;}.agent_node span { position: absolute; right: 0; top: -0.6em; background: white; color: grey !important; padding: 0 10px; }</style><style>.observation { background-color: #baffc9;; }.error_observation { background-color: #dd0000; }.action { background-color: #cccccc; }.thought { background-color: #ffffdb; }.call { background-color: #ffffff; }.respond { background-color: #ffffff; }.step-header { margin: 2pt 2pt 2pt 0 !important; }.step-text { font-size: 12px; white-space: pre-wrap; word-wrap: break-word;}</style><h3 style='margin: 2px'>Metadata</h3><details> <summary>id: 6f4668e1-99a7-4507-b21f-20c6aa735dc9</summary> <div class='basic-renderer-box'>author: analyst\n",
       "author_tape_id: null\n",
       "error: null\n",
       "id: 6f4668e1-99a7-4507-b21f-20c6aa735dc9\n",
       "n_added_steps: 3\n",
       "parent_id: 96d14e8c-b4c4-4532-a04b-21eb45a3e8a8\n",
       "result: {}\n",
       "</div> </details><h3 style='margin: 2px'>Steps</h3><div class='basic-renderer-box observation'><h4 class='step-header'>[0] User</h4><pre class='step-text'>kind: user\n",
       "\n",
       "Tell me about Vulcan in 3 sentences</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 109 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"call_search_agent\",\n",
       "      \"description\": \"call_search_agent(query: str) - Use this tool to ask a fellow AI agent to search for information on the web.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies. \n",
       "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "user: Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 99 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\\n2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\\n3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\\n4. Compile the stock price changes and general company information into a concise summary to provide to the user.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[1] Thought: AssistantThought</h4><pre class='step-text'>kind: assistant_thought\n",
       "\n",
       "1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\n",
       "3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\n",
       "4. Compile the stock price changes and general company information into a concise summary to provide to the user.</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 197 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"call_search_agent\",\n",
       "      \"description\": \"call_search_agent(query: str) - Use this tool to ask a fellow AI agent to search for information on the web.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies. \n",
       "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\n",
       "3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\n",
       "4. Compile the stock price changes and general company information into a concise summary to provide to the user.\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"company_name\":\"Vulcan\"}', name='get_stock_ticker'), id='call_ei467wA8XiLcNTGjN1AgQO3l', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[2] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box action'><h4 class='step-header'>[3] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_ticker\n",
       "    arguments: '{\"company_name\":\"Vulcan\"}'\n",
       "  id: call_ei467wA8XiLcNTGjN1AgQO3l\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[4] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_ei467wA8XiLcNTGjN1AgQO3l\n",
       "\n",
       "VMC</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 191 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"call_search_agent\",\n",
       "      \"description\": \"call_search_agent(query: str) - Use this tool to ask a fellow AI agent to search for information on the web.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies. \n",
       "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\n",
       "3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\n",
       "4. Compile the stock price changes and general company information into a concise summary to provide to the user.\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_ticker', 'arguments': '{\"company_name\":\"Vulcan\"}'}, 'id': 'call_ei467wA8XiLcNTGjN1AgQO3l', 'type': 'function'}]\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"symbol\": \"VMC\", \"start_date\": \"2023-09-17\", \"end_date\": \"2024-09-17\"}', name='get_stock_data'), id='call_5XFKGuNHvuWkSorvn2eBjDmC', type='function'), ChatCompletionMessageToolCall(function=Function(arguments='{\"query\": \"Vulcan Materials Company overview and recent developments\"}', name='call_search_agent'), id='call_ZkQnJ1gZj1Kc4y9Yk9IEPXct', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[5] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box action'><h4 class='step-header'>[6] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_stock_data\n",
       "    arguments: '{\"symbol\": \"VMC\", \"start_date\": \"2023-09-17\", \"end_date\": \"2024-09-17\"}'\n",
       "  id: call_5XFKGuNHvuWkSorvn2eBjDmC\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[7] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_5XFKGuNHvuWkSorvn2eBjDmC\n",
       "\n",
       "<details><summary>2195 characters ...</summary>[('2023-09-18', 211.69000244140625), ('2023-09-22', 200.6199951171875), ('2023-09-28', 205.02999877929688), ('2023-10-04', 205.02999877929688), ('2023-10-10', 211.0), ('2023-10-16', 213.0399932861328), ('2023-10-20', 201.5500030517578), ('2023-10-26', 193.97000122070312), ('2023-11-01', 203.8000030517578), ('2023-11-07', 207.2100067138672), ('2023-11-13', 210.49000549316406), ('2023-11-17', 212.35000610351562), ('2023-11-24', 211.67999267578125), ('2023-11-30', 213.55999755859375), ('2023-12-06', 211.92999267578125), ('2023-12-12', 220.89999389648438), ('2023-12-18', 222.6999969482422), ('2023-12-22', 224.92999267578125), ('2023-12-29', 227.00999450683594), ('2024-01-05', 221.6199951171875), ('2024-01-11', 224.36000061035156), ('2024-01-18', 225.1199951171875), ('2024-01-24', 219.8000030517578), ('2024-01-30', 231.0500030517578), ('2024-02-05', 229.64999389648438), ('2024-02-09', 240.0), ('2024-02-15', 242.4600067138672), ('2024-02-22', 256.94000244140625), ('2024-02-28', 262.29998779296875), ('2024-03-05', 264.9800109863281), ('2024-03-11', 264.95001220703125), ('2024-03-15', 266.8599853515625), ('2024-03-21', 275.5899963378906), ('2024-03-27', 272.7900085449219), ('2024-04-03', 268.7699890136719), ('2024-04-09', 265.6199951171875), ('2024-04-15', 260.4700012207031), ('2024-04-19', 252.05999755859375), ('2024-04-25', 258.5400085449219), ('2024-05-01', 259.7300109863281), ('2024-05-07', 268.3500061035156), ('2024-05-13', 270.0899963378906), ('2024-05-17', 259.1000061035156), ('2024-05-23', 257.2099914550781), ('2024-05-30', 254.0800018310547), ('2024-06-05', 251.17999267578125), ('2024-06-11', 244.63999938964844), ('2024-06-17', 256.3500061035156), ('2024-06-24', 247.5800018310547), ('2024-06-28', 248.67999267578125), ('2024-07-05', 244.2100067138672), ('2024-07-11', 254.69000244140625), ('2024-07-17', 255.8000030517578), ('2024-07-23', 260.1499938964844), ('2024-07-29', 264.5299987792969), ('2024-08-02', 266.3399963378906), ('2024-08-08', 246.3300018310547), ('2024-08-14', 242.5), ('2024-08-20', 245.60000610351562), ('2024-08-26', 250.67999267578125), ('2024-08-30', 245.2100067138672), ('2024-09-06', 231.97000122070312), ('2024-09-12', 236.27000427246094)]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 1282 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"call_search_agent\",\n",
       "      \"description\": \"call_search_agent(query: str) - Use this tool to ask a fellow AI agent to search for information on the web.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies. \n",
       "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\n",
       "3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\n",
       "4. Compile the stock price changes and general company information into a concise summary to provide to the user.\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_ticker', 'arguments': '{\"company_name\":\"Vulcan\"}'}, 'id': 'call_ei467wA8XiLcNTGjN1AgQO3l', 'type': 'function'}]\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_data', 'arguments': '{\"symbol\": \"VMC\", \"start_date\": \"2023-09-17\", \"end_date\": \"2024-09-17\"}'}, 'id': 'call_5XFKGuNHvuWkSorvn2eBjDmC', 'type': 'function'}]\n",
       "--\n",
       "tool: [('2023-09-18', 211.69000244140625), ('2023-09-22', 200.6199951171875), ('2023-09-28', 205.02999877929688), ('2023-10-04', 205.02999877929688), ('2023-10-10', 211.0), ('2023-10-16', 213.0399932861328), ('2023-10-20', 201.5500030517578), ('2023-10-26', 193.97000122070312), ('2023-11-01', 203.8000030517578), ('2023-11-07', 207.2100067138672), ('2023-11-13', 210.49000549316406), ('2023-11-17', 212.35000610351562), ('2023-11-24', 211.67999267578125), ('2023-11-30', 213.55999755859375), ('2023-12-06', 211.92999267578125), ('2023-12-12', 220.89999389648438), ('2023-12-18', 222.6999969482422), ('2023-12-22', 224.92999267578125), ('2023-12-29', 227.00999450683594), ('2024-01-05', 221.6199951171875), ('2024-01-11', 224.36000061035156), ('2024-01-18', 225.1199951171875), ('2024-01-24', 219.8000030517578), ('2024-01-30', 231.0500030517578), ('2024-02-05', 229.64999389648438), ('2024-02-09', 240.0), ('2024-02-15', 242.4600067138672), ('2024-02-22', 256.94000244140625), ('2024-02-28', 262.29998779296875), ('2024-03-05', 264.9800109863281), ('2024-03-11', 264.95001220703125), ('2024-03-15', 266.8599853515625), ('2024-03-21', 275.5899963378906), ('2024-03-27', 272.7900085449219), ('2024-04-03', 268.7699890136719), ('2024-04-09', 265.6199951171875), ('2024-04-15', 260.4700012207031), ('2024-04-19', 252.05999755859375), ('2024-04-25', 258.5400085449219), ('2024-05-01', 259.7300109863281), ('2024-05-07', 268.3500061035156), ('2024-05-13', 270.0899963378906), ('2024-05-17', 259.1000061035156), ('2024-05-23', 257.2099914550781), ('2024-05-30', 254.0800018310547), ('2024-06-05', 251.17999267578125), ('2024-06-11', 244.63999938964844), ('2024-06-17', 256.3500061035156), ('2024-06-24', 247.5800018310547), ('2024-06-28', 248.67999267578125), ('2024-07-05', 244.2100067138672), ('2024-07-11', 254.69000244140625), ('2024-07-17', 255.8000030517578), ('2024-07-23', 260.1499938964844), ('2024-07-29', 264.5299987792969), ('2024-08-02', 266.3399963378906), ('2024-08-08', 246.3300018310547), ('2024-08-14', 242.5), ('2024-08-20', 245.60000610351562), ('2024-08-26', 250.67999267578125), ('2024-08-30', 245.2100067138672), ('2024-09-06', 231.97000122070312), ('2024-09-12', 236.27000427246094)]\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"query\":\"Vulcan Materials Company overview and recent developments\"}', name='call_search_agent'), id='call_J8B2oogD9NAtmHd2N7aSzLKe', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[8] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: act\n",
       "</pre></div><div class='basic-renderer-box call'><h4 class='step-header'>[9] analyst calls search_agent</h4><pre class='step-text'>kind: call\n",
       "agent_name: search_agent\n",
       "\n",
       "Vulcan Materials Company overview and recent developments</pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 21 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (analyst): Vulcan Materials Company overview and recent developments</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"query\":\"Vulcan Materials Company overview and recent developments\",\"max_results\":5}', name='get_search_results'), id='call_GslOjfOcYCZIUfHyGC4dzuXu', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[10] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_search_results\n",
       "    arguments: '{\"query\":\"Vulcan Materials Company overview and recent developments\",\"max_results\":5}'\n",
       "  id: call_GslOjfOcYCZIUfHyGC4dzuXu\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[11] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[12] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_GslOjfOcYCZIUfHyGC4dzuXu\n",
       "\n",
       "<details><summary>1396 characters ...</summary>[{'title': 'Vulcan Materials Company', 'url': 'https://www.vulcanmaterials.com/', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel\\xa0...\"}, {'title': 'Vulcan Materials Company - Investor Relations', 'url': 'https://ir.vulcanmaterials.com/overview/default.aspx', 'content': \"Vulcan is the leading supplier of aggregates in the United States, with unmatched, easily accessed reserves within a footprint that includes the nation's high-\\xa0...\"}, {'title': 'VULCAN REPORTS THIRD QUARTER 2024 RESULTS', 'url': 'https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx', 'content': 'Oct 30, 2024 — We also recently announced the acquisition of Wake Stone Corporation, a leading pure-play aggregates producer, that will expand our reach in\\xa0...'}, {'title': 'About Vulcan', 'url': 'https://www.vulcanmaterials.com/about-vulcan', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of\\xa0...\"}, {'title': 'History', 'url': 'https://www.vulcanmaterials.com/about-vulcan/history', 'content': 'Vulcan Materials Company became a publicly traded company with trading beginning on January 2, 1957. Its predecessor companies date to the early 20th Century.'}]</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 371 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (analyst): Vulcan Materials Company overview and recent developments\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_search_results', 'arguments': '{\"query\":\"Vulcan Materials Company overview and recent developments\",\"max_results\":5}'}, 'id': 'call_GslOjfOcYCZIUfHyGC4dzuXu', 'type': 'function'}]\n",
       "--\n",
       "tool: [{'title': 'Vulcan Materials Company', 'url': 'https://www.vulcanmaterials.com/', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel\\xa0...\"}, {'title': 'Vulcan Materials Company - Investor Relations', 'url': 'https://ir.vulcanmaterials.com/overview/default.aspx', 'content': \"Vulcan is the leading supplier of aggregates in the United States, with unmatched, easily accessed reserves within a footprint that includes the nation's high-\\xa0...\"}, {'title': 'VULCAN REPORTS THIRD QUARTER 2024 RESULTS', 'url': 'https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx', 'content': 'Oct 30, 2024 — We also recently announced the acquisition of Wake Stone Corporation, a leading pure-play aggregates producer, that will expand our reach in\\xa0...'}, {'title': 'About Vulcan', 'url': 'https://www.vulcanmaterials.com/about-vulcan', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of\\xa0...\"}, {'title': 'History', 'url': 'https://www.vulcanmaterials.com/about-vulcan/history', 'content': 'Vulcan Materials Company became a publicly traded company with trading beginning on January 2, 1957. Its predecessor companies date to the early 20th Century.'}]</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 0 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=None, role='assistant', tool_calls=[ChatCompletionMessageToolCall(function=Function(arguments='{\"url\": \"https://www.vulcanmaterials.com/\"}', name='get_page'), id='call_dFaynuf36G765NN3wKqaKYna', type='function'), ChatCompletionMessageToolCall(function=Function(arguments='{\"url\": \"https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx\"}', name='get_page'), id='call_TRednOsoYJnfP06htkrPMMOZ', type='function')], function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box action'><h4 class='step-header'>[13] Action: ToolCalls</h4><pre class='step-text'>kind: assistant\n",
       "tool_calls:\n",
       "- function:\n",
       "    name: get_page\n",
       "    arguments: '{\"url\": \"https://www.vulcanmaterials.com/\"}'\n",
       "  id: call_dFaynuf36G765NN3wKqaKYna\n",
       "  type: function\n",
       "- function:\n",
       "    name: get_page\n",
       "    arguments: '{\"url\": \"https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx\"}'\n",
       "  id: call_TRednOsoYJnfP06htkrPMMOZ\n",
       "  type: function\n",
       "</pre></div><div class='basic-renderer-box thought'><h4 class='step-header'>[14] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: main\n",
       "</pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[15] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_dFaynuf36G765NN3wKqaKYna\n",
       "\n",
       "<details><summary>11210 characters ...</summary>('Title: \\n\\tHome\\n\\n=======================\\n[![Vulcan Materials Company](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/vulcan-materials-logo.png?sfvrsn=c2926ad1_1 \"Vulcan Materials Company\")](https://www.vulcanmaterials.com/)\\n\\n* [Careers](/careers)\\n* [News Releases](http://ir.vulcanmaterials.com/investor-relations/news-releases/default.aspx)\\n* [Employees](https://vul.onelogin.com)\\n* [Contact](/contact)\\n\\n| [Vulcan\\'s Statement on Inclusion \\\\& Diversity](https://csr.vulcanmaterials.com/2020/07/diversity-statement/) [Website Accessibility Statement](/accessibility-statement) |\\n| --- |\\n\\n[![Facebook](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/f_logo_rgb-hex-blue_512.png?sfvrsn=effc00bb_1)](https://www.facebook.com/VulcanMaterialsCompany/)\\xa0\\xa0[![Instagram](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/instagram_appicon_aug2017.png?sfvrsn=b5c79c26_1)](https://www.instagram.com/vulcanmaterialscompany/)\\xa0\\xa0[![YouTube](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/youtube-35px.png?sfvrsn=4dffab8d_1)](https://www.youtube.com/user/VulcanCorporate/videos)\\xa0\\xa0[![LinkedIn](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/linkedin-35px.png?sfvrsn=c4e982b3_1)](https://www.linkedin.com/company/vulcan-materials-company/)\\n\\n* [About Vulcan](https://www.vulcanmaterials.com/about-vulcan)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/about-vulcan.png?sfvrsn=bb5ab483_1)\\n\\n\\t+ [History](https://www.vulcanmaterials.com/about-vulcan/history)\\n\\t+ [Mission and Values](https://www.vulcanmaterials.com/about-vulcan/mission-and-values)\\n\\t+ [Executive Management](https://www.vulcanmaterials.com/about-vulcan/executive-management)\\n\\t+ [Corporate Office](https://www.vulcanmaterials.com/about-vulcan/corporate-office)\\n\\t+ [Industry Links](https://www.vulcanmaterials.com/about-vulcan/industry-links)\\n\\t+ [Careers](https://www.vulcanmaterials.com/about-vulcan/careers)\\n* [Construction Materials](https://www.vulcanmaterials.com/construction-materials)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/construction-materials.png?sfvrsn=e2b2e8f0_1)\\n\\n\\t+ [MyVulcan](https://www.vulcanmaterials.com/construction-materials/myvulcan)\\n\\t+ [Product Sales](https://www.vulcanmaterials.com/construction-materials/product-sales)\\n\\t+ [Products and Services](https://www.vulcanmaterials.com/construction-materials/products-and-services)\\n\\t+ [Suppliers](https://www.vulcanmaterials.com/construction-materials/suppliers)\\n\\t+ [Facilities Map](https://www.vulcanmaterials.com/construction-materials/facilities-map)\\n\\t+ [Operating Groups](https://www.vulcanmaterials.com/construction-materials/operating-groups)\\n\\t+ [Product Calculators](https://www.vulcanmaterials.com/construction-materials/product-calculators)\\n\\t+ [Credit Applications](https://www.vulcanmaterials.com/construction-materials/credit-applications)\\n\\t+ [Safety Data Sheets](https://www.vulcanmaterials.com/construction-materials/safety-data-sheets)\\n\\t+ [Product Declaration](https://www.vulcanmaterials.com/construction-materials/product-declaration)\\n\\t+ [Facilities](https://www.vulcanmaterials.com/construction-materials/facilities)\\n* [Investor Relations](https://www.vulcanmaterials.com/investor-relations)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/thmb-overview.jpg?sfvrsn=bfa2dc74_1)\\n\\n\\t+ [Overview](https://www.vulcanmaterials.com/investor-relations/overview)\\n\\t+ [Why Invest](https://www.vulcanmaterials.com/investor-relations/why-invest)\\n\\t+ [News](https://www.vulcanmaterials.com/investor-relations/news)\\n\\t+ [Events \\\\& Presentations](https://www.vulcanmaterials.com/investor-relations/events-presentations)\\n\\t+ [Stock Info](https://www.vulcanmaterials.com/investor-relations/stock-info)\\n\\t+ [Financials](https://www.vulcanmaterials.com/investor-relations/financials)\\n\\t+ [Governance](https://www.vulcanmaterials.com/investor-relations/governance)\\n\\t+ [Link to Earnings Call](https://www.vulcanmaterials.com/investor-relations/link-to-earnings-call)\\n\\t+ [Link to 2022 Investor Day](https://www.vulcanmaterials.com/investor-relations/link-to-2022-investor-day)\\n* [Social Responsibility](https://www.vulcanmaterials.com/social-responsibility)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/social-responsibility.jpg?sfvrsn=189cf41b_1)\\n\\n\\t+ [2023 Sustainability Report](https://www.vulcanmaterials.com/social-responsibility/2023-sustainability-report)\\n\\t+ [Safety \\\\& Health](https://www.vulcanmaterials.com/social-responsibility/safety-health)\\n\\t+ [Environmental Stewardship](https://www.vulcanmaterials.com/social-responsibility/environmental-stewardship)\\n\\t+ [People](https://www.vulcanmaterials.com/social-responsibility/people)\\n\\t+ [Community](https://www.vulcanmaterials.com/social-responsibility/community)\\n\\t+ [Governance](https://www.vulcanmaterials.com/social-responsibility/governance)\\n\\t+ [Teacher Center](https://www.vulcanmaterials.com/social-responsibility/teacher-center)\\n\\t+ [Vulcan Foundation](https://www.vulcanmaterials.com/social-responsibility/vulcan-foundation)\\n\\nBuilt On\\nEssentials\\n\\nA Strong Foundation\\n-------------------\\n\\nVulcan Materials Company is the nation’s largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of aggregates\\\\-based construction materials, including asphalt and ready\\\\-mixed concrete. Our coast\\\\-to\\\\-coast footprint and strategic distribution network align with and serve the nation’s growth centers.\\n\\n[Launch MyVulcan](https://portal.myvulcan.com)\\n[Learn More](/construction-materials/myvulcan)\\n\\n### **Local expertise**.Coast to coast.\\n\\n![Local expertise. Coast to Coast.](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/repmap.png?sfvrsn=409d3bf5_2 \"Local expertise. Coast to Coast.\")\\n\\n### SUSTAINING DURABLE GROWTH\\n\\n[VIEW OUR ENVIRONMENTAL, SOCIAL \\\\& GOVERNANCE REPORT](http://csr.vulcanmaterials.com/)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/sac-tun-panoramicas-_008.jpg?sfvrsn=37aff5ed_1 \"Sac Tun Panoramicas _008\")\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/build-your-career.jpg?sfvrsn=e22c15c8_1 \"build-your-career\")\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/wmc-logo-white.png?sfvrsn=7260911c_1)\\n\\n### From the **Newsroom**\\n\\n* 10/30/24\\n\\n[VULCAN REPORTS THIRD QUARTER 2024 RESULTS](https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx)\\n---------------------------------------------------------------------------------------------------------------------------------------------------------\\n* 10/11/24\\n\\n[VULCAN DECLARES QUARTERLY DIVIDEND ON COMMON STOCK](https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-DECLARES-QUARTERLY-DIVIDEND-ON-COMMON-STOCK-2f26b6fb1/default.aspx)\\n-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------\\n\\n[Read More](https://ir.vulcanmaterials.com/investor-relations/news-releases/default.aspx)\\n\\n### [Contact](/contact)\\n\\n**Vulcan Materials Company**\\nCorporate Office\\n1200 Urban Center Drive\\nBirmingham, AL 35242\\nTel: (205\\\\) 298\\\\-3000\\n\\nPlease follow the hyperlinks to review the [Business Conduct Policy](https://s3.us-east-2.amazonaws.com/files.vulcanmaterials.com/vmc/Business-Conduct-Policy.pdf) or to report [concerns](https://secure.ethicspoint.com/domain/media/en/gui/16082/index.html).\\n\\nSiga los hipervínculos para revisar la\\xa0[Política de Conducta Empresarial](https://s3.us-east-2.amazonaws.com/files.vulcanmaterials.com/vmc/VMC-Business_Conduct_Policy_Spanish-2021.pdf)\\xa0o para reportar algún\\xa0[problema](https://secure.ethicspoint.com/domain/media/es/gui/16082/index.html).\\n\\nContact us for\\xa0[Product Sales](/construction-materials/product-sales).\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_aboutvulcan.png?sfvrsn=a4a41105_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_constructionmaterials.png?sfvrsn=c59fead5_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_investorrelations.png?sfvrsn=3d684e71_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/social-responsibility-footer.jpg?sfvrsn=c6651106_1)\\n\\nAbout Vulcan\\n\\n* [History](/about-vulcan/history)\\n* [Mission and Values](/about-vulcan/mission-and-values)\\n* [Executive Management](/about-vulcan/executive-management)\\n* [Corporate Office](/about-vulcan/corporate-office)\\n* [Industry Links](/about-vulcan/industry-links)\\n* [Careers](/about-vulcan/careers)\\n\\nConstruction Materials\\n\\n* [MyVulcan](/construction-materials/myvulcan)\\n* [Product Sales](/construction-materials/product-sales)\\n* [Products and Services](/construction-materials/products-and-services)\\n* [Suppliers](/construction-materials/suppliers)\\n* [Facilities Map](/construction-materials/facilities-map)\\n* [Operating Groups](/construction-materials/operating-groups)\\n* [Product Calculators](/construction-materials/product-calculators)\\n* [Credit Applications](/construction-materials/credit-applications)\\n* [Safety Data Sheets](/construction-materials/safety-data-sheets)\\n* [Product Declaration](/construction-materials/product-declaration)\\n* [Facilities](/construction-materials/facilities)\\n\\nInvestor Relations\\n\\n* [Overview](/investor-relations/overview)\\n* [Why Invest](/investor-relations/why-invest)\\n* [News](/investor-relations/news)\\n* [Events \\\\& Presentations](/investor-relations/events-presentations)\\n* [Stock Info](/investor-relations/stock-info)\\n* [Financials](/investor-relations/financials)\\n* [Governance](/investor-relations/governance)\\n* [Link to Earnings Call](/investor-relations/link-to-earnings-call)\\n* [Link to 2022 Investor Day](/investor-relations/link-to-2022-investor-day)\\n\\nSocial Responsibility\\n\\n* [2023 Sustainability Report](/social-responsibility/2023-sustainability-report)\\n* [Safety \\\\& Health](/social-responsibility/safety-health)\\n* [Environmental Stewardship](/social-responsibility/environmental-stewardship)\\n* [People](/social-responsibility/people)\\n* [Community](/social-responsibility/community)\\n* [Governance](/social-responsibility/governance)\\n* [Teacher Center](/social-responsibility/teacher-center)\\n* [Vulcan Foundation](/social-responsibility/vulcan-foundation)\\n\\n* [Site Map](/site-map)\\n* [Terms of Use](/terms-of-use)\\n* [Privacy Policy](/privacy-policy)\\n* [California Residents\\' Privacy Notice](/california-privacy-notice)\\n* [Contact Us About Our Site](/contact)\\n© 2024 Vulcan Materials Company', 1, 0)</details></pre></div><div class='basic-renderer-box observation'><h4 class='step-header'>[16] Observation: ToolResult</h4><pre class='step-text'>kind: tool\n",
       "tool_call_id: call_TRednOsoYJnfP06htkrPMMOZ\n",
       "\n",
       "<details><summary>34436 characters ...</summary>('Title: \\n\\tVulcan Materials Company - VULCAN REPORTS THIRD QUARTER 2024 RESULTS\\n\\n=======================\\nir@vmcmail.com\\n(205\\\\) 298\\\\-3220\\n\\n* [Overview](https://ir.vulcanmaterials.com/overview/default.aspx)\\n\\t+ [Why Invest](https://ir.vulcanmaterials.com/why-invest/default.aspx)\\n\\t+ [News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\t+ [Events \\\\& Presentations](https://ir.vulcanmaterials.com/events-and-presentations/default.aspx)\\n\\t+ [Stock Info](https://ir.vulcanmaterials.com/stock-info/default.aspx)\\n\\t\\t- [Stock Quote](/stock-info/default.aspx#stock-quote)\\n\\t\\t- [Stock Chart](/stock-info/default.aspx#stock-chart)\\n\\t\\t- [Historical Stock Quote](/stock-info/default.aspx#stock-historical)\\n\\t\\t- [Investment Calculator](/stock-info/default.aspx#calculator)\\n\\t\\t- [Transfer Agent](https://ir.vulcanmaterials.com/stock-info/Transfer-Agent/default.aspx)\\n\\t\\t- [Analyst Coverage](https://ir.vulcanmaterials.com/stock-info/analyst-coverage/default.aspx)\\n\\t+ [Financials](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Quarterly Results](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Annual Reports](https://ir.vulcanmaterials.com/financials/annual-reports/default.aspx)\\n\\t\\t- [SEC Filings](https://ir.vulcanmaterials.com/financials/sec-filings/default.aspx)\\n\\t+ [Governance](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Governance Documents](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Executive Management](https://ir.vulcanmaterials.com/governance/executive-management/default.aspx)\\n\\t\\t- [Board of Directors](https://ir.vulcanmaterials.com/governance/board-of-directors/default.aspx)\\n\\t\\t- [Committee Composition](https://ir.vulcanmaterials.com/governance/committee-composition/default.aspx)\\n\\t\\t- [Contact the Board](https://ir.vulcanmaterials.com/governance/contact-the-board/default.aspx)\\n\\t+ [Resources](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Investor FAQs](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Information Request Form](https://ir.vulcanmaterials.com/resources/information-request-form/default.aspx)\\n\\t\\t- [Investor Email Alerts](https://ir.vulcanmaterials.com/resources/investor-email-alerts/default.aspx)\\n\\t\\t- [Investor Contacts](https://ir.vulcanmaterials.com/resources/investor-contacts/default.aspx)\\n\\n[Skip to main content](#maincontent)\\n\\n[![Vulcan Company Logo](//s201.q4cdn.com/142563501/files/design/vulcan-logo.png)](https://www.vulcanmaterials.com/)\\n\\n* [About Vulcan](https://www.vulcanmaterials.com/about-vulcan)\\n\\n\\t+ [History](https://www.vulcanmaterials.com/about-vulcan/history)\\n\\t+ [Mission and Values](https://www.vulcanmaterials.com/about-vulcan/mission-and-values)\\n\\t+ [Executive Management](/governance/executive-management/default.aspx)\\n\\t+ [Corporate Office](https://www.vulcanmaterials.com/about-vulcan/corporate-office)\\n\\t+ [Industry Links](https://www.vulcanmaterials.com/about-vulcan/industry-links)\\n\\t+ [Careers](https://www.vulcanmaterials.com/careers)\\n* Construction Materials\\n\\n\\t+ [Product Sales](https://www.vulcanmaterials.com/construction-materials/product-sales)\\n\\t+ [Products and Services](https://www.vulcanmaterials.com/construction-materials/products-and-services)\\n\\t+ [Suppliers](https://www.vulcanmaterials.com/construction-materials/suppliers)\\n\\t+ [Facilities Map](https://www.vulcanmaterials.com/construction-materials/facilities-map)\\n\\t+ [Operating Groups](https://www.vulcanmaterials.com/construction-materials/operating-groups)\\n\\t+ [Product Calculators](https://www.vulcanmaterials.com/construction-materials/product-calculators)\\n\\t+ [Credit Applications](https://www.vulcanmaterials.com/construction-materials/credit-applications)\\n\\t+ [Safety Data Sheets](https://www.vulcanmaterials.com/construction-materials/safety-data-sheets)\\n\\t+ [Product Declaration](https://www.vulcanmaterials.com/construction-materials/product-declaration)\\n\\t+ [Facilities](https://www.vulcanmaterials.com/construction-materials/facilities)\\n* [Investor Relations](/overview)\\n* [Social Responsibility](https://csr.vulcanmaterials.com/)\\n\\n\\t+ [2023 Sustainability Report](https://csr.vulcanmaterials.com)\\n\\t+ [Safety \\\\& Health](https://www.vulcanmaterials.com/social-responsibility/safety-health)\\n\\t+ [Environmental Stewardship](https://www.vulcanmaterials.com/social-responsibility/environmental-stewardship)\\n\\t+ [People](https://www.vulcanmaterials.com/social-responsibility/people)\\n\\t+ [Community](https://www.vulcanmaterials.com/social-responsibility/community)\\n\\t+ [Governance](https://www.vulcanmaterials.com/social-responsibility/governance)\\n\\t+ [Teacher Center](https://www.vulcanmaterials.com/social-responsibility/teacher-center)\\n\\t+ [Vulcan Foundation](https://www.vulcanmaterials.com/social-responsibility/vulcan-foundation)\\n\\nNews Details\\n============\\n\\n* [Overview](https://ir.vulcanmaterials.com/overview/default.aspx)\\n\\t+ [Why Invest](https://ir.vulcanmaterials.com/why-invest/default.aspx)\\n\\t+ [News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\t+ [Events \\\\& Presentations](https://ir.vulcanmaterials.com/events-and-presentations/default.aspx)\\n\\t+ [Stock Info](https://ir.vulcanmaterials.com/stock-info/default.aspx)\\n\\t\\t- [Stock Quote](/stock-info/default.aspx#stock-quote)\\n\\t\\t- [Stock Chart](/stock-info/default.aspx#stock-chart)\\n\\t\\t- [Historical Stock Quote](/stock-info/default.aspx#stock-historical)\\n\\t\\t- [Investment Calculator](/stock-info/default.aspx#calculator)\\n\\t\\t- [Transfer Agent](https://ir.vulcanmaterials.com/stock-info/Transfer-Agent/default.aspx)\\n\\t\\t- [Analyst Coverage](https://ir.vulcanmaterials.com/stock-info/analyst-coverage/default.aspx)\\n\\t+ [Financials](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Quarterly Results](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Annual Reports](https://ir.vulcanmaterials.com/financials/annual-reports/default.aspx)\\n\\t\\t- [SEC Filings](https://ir.vulcanmaterials.com/financials/sec-filings/default.aspx)\\n\\t+ [Governance](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Governance Documents](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Executive Management](https://ir.vulcanmaterials.com/governance/executive-management/default.aspx)\\n\\t\\t- [Board of Directors](https://ir.vulcanmaterials.com/governance/board-of-directors/default.aspx)\\n\\t\\t- [Committee Composition](https://ir.vulcanmaterials.com/governance/committee-composition/default.aspx)\\n\\t\\t- [Contact the Board](https://ir.vulcanmaterials.com/governance/contact-the-board/default.aspx)\\n\\t+ [Resources](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Investor FAQs](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Information Request Form](https://ir.vulcanmaterials.com/resources/information-request-form/default.aspx)\\n\\t\\t- [Investor Email Alerts](https://ir.vulcanmaterials.com/resources/investor-email-alerts/default.aspx)\\n\\t\\t- [Investor Contacts](https://ir.vulcanmaterials.com/resources/investor-contacts/default.aspx)\\n\\n[View All News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\n### VULCAN REPORTS THIRD QUARTER 2024 RESULTS\\n\\nOctober 30, 2024\\n\\n[Download\\n(opens in new window)](//s201.q4cdn.com/142563501/files/doc_financials/2024/q3/VMC-3Q-2024-Earnings-Release.pdf)\\n\\n***Solid Execution Drives Margin Expansion Despite Extreme Weather Disruptions***\\n\\n***Uniquely Positioned Aggregates Business Supports Earnings Growth***\\n\\nBIRMINGHAM, Ala., Oct. 30, 2024 /PRNewswire/ \\\\-\\\\- Vulcan Materials Company (NYSE: VMC), the nation\\'s largest producer of construction aggregates, today announced results for the quarter ended September 30, 2024\\\\.\\n\\n**Financial Highlights Include:**\\n\\n|  | **Third Quarter** | |  | **Year\\\\-to\\\\-Date** | |  | **Trailing\\\\-Twelve Months** | |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n| Amounts in millions, except per unit data | **2024** | **2023** |  | **2024** | **2023** |  | **2024** | **2023** |\\n| Total revenues | $\\xa0\\xa0\\xa0\\xa0 2,004 | $\\xa0\\xa0\\xa0\\xa0 2,186 |  | $\\xa0\\xa0\\xa0\\xa0 5,564 | $\\xa0\\xa0\\xa0\\xa0 5,948 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7,398 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7,680 |\\n| Gross profit | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 565 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 591 |  | $\\xa0\\xa0\\xa0\\xa0 1,462 | $\\xa0\\xa0\\xa0\\xa0 1,476 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,935 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,826 |\\n| Selling, Administrative and General (SAG) | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 129 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 144 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 393 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 400 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 535 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 527 |\\n| As % of Total revenues | 6\\\\.4\\xa0% | 6\\\\.6\\xa0% |  | 7\\\\.1\\xa0% | 6\\\\.7\\xa0% |  | 7\\\\.2\\xa0% | 6\\\\.9\\xa0% |\\n| Net earnings attributable to Vulcan | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 208 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 276 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 618 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 706 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 846 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 825 |\\n| Adjusted EBITDA | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 581 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 602 |  | $\\xa0\\xa0\\xa0\\xa0 1,507 | $\\xa0\\xa0\\xa0\\xa0 1,535 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,983 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,910 |\\n| Adjusted EBITDA Margin | 29\\\\.0\\xa0% | 27\\\\.6\\xa0% |  | 27\\\\.1\\xa0% | 25\\\\.8\\xa0% |  | 26\\\\.8\\xa0% | 24\\\\.9\\xa0% |\\n| Earnings attributable to Vulcan from \\xa0\\xa0\\xa0\\xa0 continuing operations per diluted share | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1\\\\.57 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.09 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 4\\\\.68 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.34 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.40 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.25 |\\n| Adjusted earnings attributable to Vulcan from \\xa0\\xa0\\xa0\\xa0 continuing operations per diluted share | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.22 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.29 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.37 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.54 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.83 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.62 |\\n| Aggregates segment |  |  |  |  |  |  |  |  |\\n| Shipments (tons) | 57\\\\.7 | 64\\\\.0 |  | 166\\\\.0 | 179\\\\.2 |  | 221\\\\.4 | 233\\\\.5 |\\n| Freight\\\\-adjusted sales price per ton | $\\xa0\\xa0\\xa0\\xa0 21\\\\.27 | $\\xa0\\xa0\\xa0\\xa0 19\\\\.31 |  | $\\xa0\\xa0\\xa0\\xa0 20\\\\.98 | $\\xa0\\xa0\\xa0\\xa0 18\\\\.92 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 20\\\\.57 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 18\\\\.47 |\\n| Gross profit per ton | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 8\\\\.63 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.95 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 8\\\\.01 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.32 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.93 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.03 |\\n| Cash gross profit per ton | $\\xa0\\xa0\\xa0\\xa0 10\\\\.89 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.92 |  | $\\xa0\\xa0\\xa0\\xa0 10\\\\.31 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.32 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 10\\\\.22 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.06 |\\n\\nTom Hill, Vulcan Materials\\' Chairman and Chief Executive Officer, said, \"Results and activities in the third quarter evidence the consistent execution of our two\\\\-pronged strategy to generate durable growth. \\xa0We continue to enhance our core through expansion of our industry\\\\-leading aggregates cash gross profit per ton, which increased 10 percent in the third quarter and has grown by double\\\\-digits for eight consecutive quarters.\\xa0 We also recently announced the acquisition of Wake Stone Corporation, a leading pure\\\\-play aggregates producer, that will expand our reach in high\\\\-growth geographies in the Carolinas.\\xa0 Our Vulcan Way of Selling and Vulcan Way of Operating disciplines remain fundamental to compounding profitability across our franchise and successfully integrating new operations.\"\\n\\n**Third Quarter Segment Results**\\n\\n**Aggregates**Third quarter segment gross profit was $498 million ($8\\\\.63 per ton), and gross profit margin expanded 40 basis points.\\xa0 Cash gross profit per ton improved 10 percent to $10\\\\.89 per ton, despite lower shipments and harsh weather conditions throughout the quarter.\\xa0 Improvements in unit profitability were widespread across the Company\\'s footprint.\\n\\nAggregates shipments decreased 10 percent as compared to the prior year\\'s third quarter.\\xa0 Shipments across the Southeast were impacted by significant rainfall in July, followed by numerous hurricanes and severe storms in August and September.\\xa0 The prior year\\'s third quarter included fewer severe weather events.\\n\\nThe pricing environment remained positive across the footprint.\\xa0 Freight\\\\-adjusted selling prices increased 10 percent as compared to the prior year.\\xa0 Freight\\\\-adjusted unit cash cost of sales was negatively impacted by lower volume and challenging weather\\\\-affected operating conditions; freight\\\\-adjusted cash cost of sales dollars remained flat compared to the prior year.\\n\\n**Asphalt and Concrete**Asphalt segment gross profit was $60 million, and cash gross profit was $72 million, a 12 percent improvement over the prior year.\\xa0 Shipments increased slightly as compared to the prior year, and price improved 6 percent.\\xa0 Concrete segment gross profit was $7 million, and cash gross profit was $17 million.\\xa0 The prior year\\'s third quarter included results from the previously divested concrete assets in Texas, which accounted for the majority of the year\\\\-over\\\\-year decline in cash gross profit.\\n\\n**Selling, Administrative and General (SAG) and Other Items**SAG expense was $129 million compared to $144 million in the prior year\\'s third quarter.\\xa0 As a percent of total revenues, SAG expense was 6\\\\.4 percent and 20 basis points lower than the prior year\\'s third quarter.\\n\\nThis year\\'s third quarter included a pretax charge of $87 million ($84 million after\\\\-tax) resulting from the write\\\\-off of goodwill for the Company\\'s concrete assets in Northern California.\\n\\n**Financial Position, Liquidity and Capital Allocation**The Company remains well positioned for continued growth with a strong liquidity position and balance sheet profile.\\xa0 As of September 30, 2024, the ratio of total debt to trailing\\\\-twelve months Adjusted EBITDA was 1\\\\.7 times and below the Company\\'s target range of 2\\\\.0 to 2\\\\.5 times.\\xa0 On a trailing\\\\-twelve months basis, return on invested capital improved 70 basis points over the prior year to 16\\\\.1 percent.\\n\\nCapital expenditures were $104 million in the third quarter and $402 million on a year\\\\-to\\\\-date basis.\\xa0 For the full year, the Company expects to spend between $625 and $650 million for maintenance and growth projects. \\xa0During the quarter, the Company returned $61 million to shareholders through dividends, a 6 percent increase versus the prior year\\'s third quarter.\\n\\nThe acquisition of Wake Stone Corporation is consistent with our disciplined capital allocation priorities and aggregates\\\\-led strategy of continuing to expand our reach to better serve more high\\\\-growth regions in the United States.\\xa0 The acquisition is expected to provide more than 60 years of quality hard rock reserves. \\xa0The Company expects to close the transaction during the fourth quarter of this year, subject to satisfaction of customary closing conditions.\\n\\n**Outlook**Regarding the Company\\'s current year outlook, Mr. Hill said, \"While significant weather disruptions have impacted construction activity through the first nine months of the year, overall demand fundamentals continue to underpin long\\\\-term growth.\\xa0 The pricing environment remains positive, and we continue to execute well.\\xa0 Given the decline in shipments to date and continued weather events so far in the fourth quarter, we now expect full\\\\-year Adjusted EBITDA of approximately $2 billion.\\n\\nMr. Hill continued, \"As we look to 2025, we expect aggregates price to improve high\\\\-single digits, cost to benefit from our Vulcan Way of Operating disciplines and moderating inflation and, most importantly, cash gross profit per ton to continue expanding at double\\\\-digit levels.\\xa0 A demand backdrop underpinned by growth in public construction activity and an improving private demand environment should lead to volume growth in 2025\\\\.\\xa0 Our steadfast focus to execute at the highest level – both commercially and operationally – positions us well to capitalize on improving volume and grow earnings.\"\\n\\n**Conference Call**Vulcan will host a conference call at 10:00 a.m. CT on October 30, 2024\\\\.\\xa0 A webcast will be available via the Company\\'s website at [www.vulcanmaterials.com](http://www.vulcanmaterials.com).\\xa0 Investors and other interested parties may access the teleconference live by calling 800\\\\-274\\\\-8461, or 203\\\\-518\\\\-9814 if outside the U.S.\\xa0 The conference ID is 4730253\\\\.\\xa0 The conference call will be recorded and available for replay at the Company\\'s website approximately two hours after the call.\\n\\n**About Vulcan Materials Company**Vulcan Materials Company, a member of the S\\\\&P 500 Index with headquarters in Birmingham, Alabama, is the nation\\'s largest supplier of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates\\\\-based construction materials, including asphalt and ready\\\\-mixed concrete.\\xa0 For additional information about Vulcan, go to [www.vulcanmaterials.com](https://c212.net/c/link/?t=0&l=en&o=4289777-1&h=1223876245&u=http%3A%2F%2Fwww.vulcanmaterials.com%2F&a=www.vulcanmaterials.com).\\n\\n**Non\\\\-GAAP Financial Measures**Because GAAP financial measures on a forward\\\\-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided\\xa0reconciliations for forward\\\\-looking non\\\\-GAAP measures, other than the reconciliation of Projected Adjusted EBITDA as included in Appendix 2 hereto. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.\\n\\n**FORWARD\\\\-LOOKING STATEMENT DISCLAIMER**This document contains forward\\\\-looking statements. \\xa0Statements that are not historical fact, including statements about Vulcan\\'s beliefs and expectations, are forward\\\\-looking statements.\\xa0 Generally, these statements relate to future financial performance, results of operations, business plans or strategies, projected or anticipated revenues, expenses, earnings (including EBITDA and other measures), dividend policy, shipment volumes, pricing, levels of capital expenditures, intended cost reductions and cost savings, anticipated profit improvements and/or planned divestitures and asset sales.\\xa0 These forward\\\\-looking statements are sometimes identified by the use of terms and phrases such as \"believe,\" \"should,\" \"would,\" \"expect,\" \"project,\" \"estimate,\" \"anticipate,\" \"intend,\" \"plan,\" \"will,\" \"can,\" \"may\" or similar expressions elsewhere in this document. \\xa0These statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to general business conditions, competitive factors, pricing, energy costs, and other risks and uncertainties discussed in the reports Vulcan periodically files with the SEC.\\n\\nForward\\\\-looking statements are not guarantees of future performance and actual results, developments, and business decisions may vary significantly from those expressed in or implied by the forward\\\\-looking statements.\\xa0 The following risks related to Vulcan\\'s business, among others, could cause actual results to differ materially from those described in the forward\\\\-looking statements: general economic and business conditions; domestic and global political, economic or diplomatic developments; a pandemic, epidemic or other public health emergency; Vulcan\\'s dependence on the construction industry, which is subject to economic cycles; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in Vulcan\\'s effective tax rate; the increasing reliance on information technology infrastructure, including the risks that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber\\\\-attacks; the impact of the state of the global economy on Vulcan\\'s businesses and financial condition and access to capital markets; international business operations and relationships, including recent actions taken by the Mexican government with respect to Vulcan\\'s property and operations in that country; the highly competitive nature of the construction industry; the impact of future regulatory or legislative actions, including those relating to climate change, biodiversity, land use, wetlands, greenhouse gas emissions, the definition of minerals, tax policy and domestic and international trade; the outcome of pending legal proceedings; pricing of Vulcan\\'s products; weather and other natural phenomena, including the impact of climate change and availability of water; availability and cost of trucks, railcars, barges and ships as well as their licensed operators for transport of Vulcan\\'s materials; energy costs; costs of hydrocarbon\\\\-based raw materials; healthcare costs; labor relations, shortages and constraints; the amount of long\\\\-term debt and interest expense incurred by Vulcan; changes in interest rates; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; Vulcan\\'s ability to secure and permit aggregates reserves in strategically located areas; Vulcan\\'s ability to manage and successfully integrate acquisitions; Vulcan\\'s proposed acquisition of Wake Stone Corporation (\"Wake Stone\"), including: (1\\\\) Vulcan\\'s ability to complete the transaction on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary approvals and the satisfaction of other closing conditions to consummate the proposed transaction; (2\\\\) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement relating to the proposed transaction; (3\\\\) failure to realize the expected benefits of the proposed transaction; (4\\\\) significant transaction costs and/or unknown or inestimable liabilities; (5\\\\) the risk that Wake Stone\\'s business will not be integrated successfully or that such integration may be more difficult, time\\\\-consuming or costly than expected; (6\\\\) risks related to future opportunities and plans for the combined company; (7\\\\) disruption from the proposed transaction, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; and (8\\\\) the possibility that, if Vulcan does not achieve the perceived benefits of the proposed transaction as rapidly or to the extent anticipated by financial analysts or investors, the market price of Vulcan\\'s common stock could decline; the effect of changes in tax laws, guidance and interpretations; significant downturn in the construction industry may result in the impairment of goodwill or long\\\\-lived assets; changes in technologies, which could disrupt the way Vulcan does business and how Vulcan\\'s products are distributed; the risks of open pit and underground mining; expectations relating to environmental, social and governance considerations; claims that our products do not meet regulatory requirements or contractual specifications; and other assumptions, risks and uncertainties detailed from time to time in the reports filed by Vulcan with the SEC.\\xa0 All forward\\\\-looking statements in this communication are qualified in their entirety by this cautionary statement. \\xa0Vulcan disclaims and does not undertake any obligation to update or revise any forward\\\\-looking statement in this document except as required by law.\\n\\nInvestor Contact: \\xa0Mark Warren (205\\\\) 298\\\\-3220\\nMedia Contact: \\xa0Jack Bonnikson (205\\\\) 298\\\\-3220\\n\\n|  |  |  |  |  |  |  |  |  |  |  | Table A |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n|  | **Vulcan Materials Company** | | |  |  |  |  |  |  |  |  |\\n|  | **and Subsidiary Companies** | | |  |  |  |  |  |  |  |  |\\n|  |  |  |  |  | (in millions, except per share data) | | | | | | |\\n|  |  |  |  |  | ***Three Months Ended*** | | |  | ***Nine Months Ended*** | | |\\n|  | **Consolidated Statements of Earnings** | | |  | ***September 30*** | | |  | ***September 30*** | | |\\n|  | (Condensed and unaudited) | | |  | ***2024*** |  | *2023* |  | ***2024*** |  | *2023* |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Total revenues | | |  | **$2,003\\\\.9** |  | $2,185\\\\.8 |  | **$5,564\\\\.0** |  | $5,947\\\\.6 |\\n|  | Cost of revenues | | |  | **(1,438\\\\.7\\\\)** |  | (1,594\\\\.8\\\\) |  | **(4,101\\\\.6\\\\)** |  | (4,471\\\\.3\\\\) |\\n|  | Gross profit | | |  | **565\\\\.2** |  | 591\\\\.0 |  | **1,462\\\\.4** |  | 1,476\\\\.3 |\\n|  | Selling, administrative and general expenses | | |  | **(129\\\\.1\\\\)** |  | (143\\\\.9\\\\) |  | **(393\\\\.0\\\\)** |  | (400\\\\.4\\\\) |\\n|  | Gain on sale of property, plant \\\\& equipment | | |  |  |  |  |  |  |  |  |\\n|  | and businesses | | |  | **0\\\\.2** |  | 4\\\\.3 |  | **4\\\\.6** |  | 22\\\\.8 |\\n|  | Loss on impairments | | |  | **(86\\\\.6\\\\)** |  | (28\\\\.3\\\\) |  | **(86\\\\.6\\\\)** |  | (28\\\\.3\\\\) |\\n|  | Other operating expense, net | | |  | **(12\\\\.6\\\\)** |  | (4\\\\.2\\\\) |  | **(23\\\\.9\\\\)** |  | (13\\\\.1\\\\) |\\n|  | Operating earnings | | |  | **337\\\\.1** |  | 418\\\\.9 |  | **963\\\\.5** |  | 1,057\\\\.3 |\\n|  | Other nonoperating expense, net | | |  | **(3\\\\.8\\\\)** |  | (6\\\\.4\\\\) |  | **(12\\\\.7\\\\)** |  | (5\\\\.3\\\\) |\\n|  | Interest expense, net | | |  | **(38\\\\.4\\\\)** |  | (46\\\\.6\\\\) |  | **(117\\\\.7\\\\)** |  | (142\\\\.2\\\\) |\\n|  | Earnings from continuing operations | | |  |  |  |  |  |  |  |  |\\n|  | before income taxes | | |  | **294\\\\.9** |  | 365\\\\.9 |  | **833\\\\.1** |  | 909\\\\.8 |\\n|  | Income tax expense | | |  | **(85\\\\.2\\\\)** |  | (85\\\\.8\\\\) |  | **(208\\\\.5\\\\)** |  | (194\\\\.4\\\\) |\\n|  | Earnings from continuing operations | | |  | **209\\\\.7** |  | 280\\\\.1 |  | **624\\\\.6** |  | 715\\\\.4 |\\n|  | Loss on discontinued operations, net of tax | | |  | **(1\\\\.3\\\\)** |  | (2\\\\.8\\\\) |  | **(5\\\\.0\\\\)** |  | (8\\\\.6\\\\) |\\n|  | Net earnings |  |  |  | **208\\\\.4** |  | 277\\\\.3 |  | **619\\\\.6** |  | 706\\\\.8 |\\n|  | Earnings attributable to noncontrolling interest | | |  | **(0\\\\.8\\\\)** |  | (0\\\\.8\\\\) |  | **(1\\\\.4\\\\)** |  | (1\\\\.0\\\\) |\\n|  | Net earnings attributable to Vulcan | | |  | **$207\\\\.6** |  | $276\\\\.5 |  | **$618\\\\.2** |  | $705\\\\.8 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Basic earnings (loss) per share attributable to Vulcan | | |  |  |  |  |  |  |  |  |\\n|  | Continuing operations | | |  | **$1\\\\.58** |  | $2\\\\.10 |  | **$4\\\\.71** |  | $5\\\\.37 |\\n|  | Discontinued operations | | |  | **($0\\\\.01\\\\)** |  | ($0\\\\.02\\\\) |  | **($0\\\\.04\\\\)** |  | ($0\\\\.07\\\\) |\\n|  | Net earnings | | |  | **$1\\\\.57** |  | $2\\\\.08 |  | **$4\\\\.67** |  | $5\\\\.30 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Diluted earnings (loss) per share attributable to Vulcan | | | |  |  |  |  |  |  |  |\\n|  | Continuing operations | | |  | **$1\\\\.57** |  | $2\\\\.09 |  | **$4\\\\.68** |  | $5\\\\.34 |\\n|  | Discontinued operations | | |  | **($0\\\\.01\\\\)** |  | ($0\\\\.02\\\\) |  | **($0\\\\.03\\\\)** |  | ($0\\\\.06\\\\) |\\n|  | Net earnings | | |  | **$1\\\\.56** |  | $2\\\\.07 |  | **$4\\\\.65** |  | $5\\\\.28 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Weighted\\\\-average common shares outstanding | | |  |  |  |  |  |  |  |  |\\n|  | Basic | | |  | **132\\\\.2** |  | 133\\\\.0 |  | **132\\\\.3** |  | 133\\\\.1 |\\n|  | Assuming dilution | | |  | **133\\\\.0** |  | 133\\\\.7 |  | **133\\\\.1** |  | 133\\\\.7 |\\n|  | Effective tax rate from continuing operations | | |  | **28\\\\.9\\xa0%** |  | 23\\\\.4\\xa0% |  | **25\\\\.0\\xa0%** |  | 21\\\\.4\\xa0% |\\n\\n|  |  |  |  |  |  |  |  | Table B |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n| **Vulcan Materials Company** | | |  |  |  |  |  |  |\\n| **and Subsidiary Companies** | | |  |  |  |  |  |  |\\n|  |  |  |  |  |  |  |  | (in millions) |\\n| **Consolidated Balance Sheets** | | |  | ***September 30*** |  | *December 31* |  | *September 30* |\\n| (Condensed and unaudited) | | |  | ***2024*** |  | *2023* |  | *2023* |\\n| **Assets** | | |  |  |  |  |  |  |\\n| Cash and cash equivalents | | |  | **$433\\\\.2** |  | $931\\\\.1 |  | $340\\\\.0 |\\n| Restricted cash | | |  | **1\\\\.1** |  | 18\\\\.1 |  | 5\\\\.0 |\\n| Accounts and notes receivable | | |  |  |  |  |  |  |\\n| Accounts and notes receivable, gross | | |  | **1,030\\\\.9** |  | 903\\\\.3 |  | 1,199\\\\.2 |\\n| Allowance for credit losses | | |  | **(13\\\\.5\\\\)** |  | (13\\\\.6\\\\) |  | (14\\\\.7\\\\) |\\n| Accounts and notes receivable, net | | |  | **1,017\\\\.4** |  | 889\\\\.7 |  | 1,184\\\\.5 |\\n| Inventories | | |  |  |  |  |  |  |\\n| Finished products | | |  | **505\\\\.9** |  | 494\\\\.4 |  | 448\\\\.1 |\\n| Raw materials | | |  | **62\\\\.2** |  | 51\\\\.2 |  | 50\\\\.5 |\\n| Products in process | | |  | **11\\\\.1** |  | 6\\\\.5 |  | 8\\\\.6 |\\n| Operating supplies and other | | |  | **68\\\\.5** |  | 63\\\\.5 |  | 63\\\\.4 |\\n| Inventories | | |  | **647\\\\.7** |  | 615\\\\.6 |  | 570\\\\.6 |\\n| Other current assets | | |  | **113\\\\.5** |  | 70\\\\.4 |  | 106\\\\.0 |\\n| Assets held for sale | | |  | **0\\\\.0** |  | 0\\\\.0 |  | 495\\\\.1 |\\n| Total current assets | | |  | **2,212\\\\.9** |  | 2,524\\\\.9 |  | 2,701\\\\.2 |\\n| Investments and long\\\\-term receivables | | |  | **31\\\\.4** |  | 31\\\\.3 |  | 31\\\\.2 |\\n| Property, plant \\\\& equipment | | |  |  |  |  |  |  |\\n| Property, plant \\\\& equipment, cost | | |  | **12,350\\\\.5** |  | 11,835\\\\.5 |  | 11,610\\\\.4 |\\n| Allowances for depreciation, depletion \\\\& amortization | | |  | **(5,937\\\\.0\\\\)** |  | (5,617\\\\.8\\\\) |  | (5,498\\\\.4\\\\) |\\n| Property, plant \\\\& equipment, net | | |  | **6,413\\\\.5** |  | 6,217\\\\.7 |  | 6,112\\\\.0 |\\n| Operating lease right\\\\-of\\\\-use assets, net | | |  | **508\\\\.3** |  | 511\\\\.7 |  | 521\\\\.5 |\\n| Goodwill | | |  | **3,450\\\\.0** |  | 3,531\\\\.7 |  | 3,531\\\\.7 |\\n| Other intangible assets, net | | |  | **1,448\\\\.3** |  | 1,460\\\\.7 |  | 1,471\\\\.8 |\\n| Other noncurrent assets | | |  | **287\\\\.5** |  | 267\\\\.7 |  | 251\\\\.1 |\\n| Total assets | | |  | **$14,351\\\\.9** |  | $14,545\\\\.7 |  | $14,620\\\\.5 |\\n| **Liabilities** | | |  |  |  |  |  |  |\\n| Current maturities of long\\\\-term debt | | |  | **0\\\\.5** |  | 0\\\\.5 |  | 0\\\\.5 |\\n| Trade payables and accruals | | |  | **352\\\\.6** |  | 390\\\\.4 |  | 412\\\\.8 |\\n| Other current liabilities | | |  | **421\\\\.0** |  | 406\\\\.7 |  | 440\\\\.8 |\\n| Liabilities of assets held for sale | | |  | **0\\\\.0** |  | 0\\\\.0 |  | 10\\\\.1 |\\n| Total current liabilities | | |  | **774\\\\.1** |  | 797\\\\.6 |  | 864\\\\.2 |\\n| Long\\\\-term debt | | |  | **3,329\\\\.2** |  | 3,877\\\\.3 |  | 3,874\\\\.3 |\\n| Deferred income taxes, net | | |  | **1,000\\\\.3** |  | 1,028\\\\.9 |  | 1,068\\\\.3 |\\n| Deferred revenue | | |  | **139\\\\.4** |  | 145\\\\.3 |  | 147\\\\.4 |\\n| Noncurrent operating lease liabilities | | |  | **503\\\\.5** |  | 507\\\\.4 |  | 516\\\\.0 |\\n| Other noncurrent liabilities | | |  | **712\\\\.3** |  | 681\\\\.3 |  | 685\\\\.1 |\\n| Total liabilities | | |  | **$6,458\\\\.8** |  | $7,037\\\\.8 |  | $7,155\\\\.3 |\\n| **Equity** | | |  |  |  |  |  |  |\\n| Common stock, $1 par value | | |  | **132\\\\.1** |  | 132\\\\.1 |  | 132\\\\.9 |\\n| Capital in excess of par value | | |  | **2,895\\\\.0** |  | 2,880\\\\.1 |  | 2,862\\\\.4 |\\n| Retained earnings | | |  | **4,980\\\\.7** |  | 4,615\\\\.0 |  | 4,595\\\\.0 |\\n| Accumulated other comprehensive loss | | |  | **(138\\\\.8\\\\)** |  | (143\\\\.8\\\\) |  | (149\\\\.7\\\\) |\\n| Total shareholder\\'s equity | | |  | **7,869\\\\.0** |  | 7,483\\\\.4 |  | 7,440\\\\.6 |\\n| Noncontrolling interest | | |  | **24\\\\.1** |  | 24\\\\.5 |  | 24\\\\.6 |\\n| Total equity | | |  | **$7,893\\\\.1** |  | $7,507\\\\.9 |  | $7,465\\\\.2 |\\n| Total liabilities and equity | | |  | **$14,351\\\\.9** |  | $14,545\\\\.7 |  | $14,620\\\\.5 |\\n\\n|  |  |  |  |  |  |  | Table C |\\n| --- | --- | --- | --- | --- | --- | --- | --- |\\n| **Vulcan Materials Company** | | | |  |  |  |  |\\n| **and Subsidiary Companies** | | | |  |  |  |  |\\n|  |  |  |  |  |  |  | (in millions) |\\n|  |  |  |  |  |  |  | ***Nine Months Ended*** |\\n| **Consolidated Statements of Cash Flows** | | | |  |  |  | ***September 30*** |\\n| (Condensed and unaudited) | | | |  | ***2024*** |  | *2023* |\\n| **Operating Activities** | | | |  |  |  |  |\\n| Net earnings |  |  |  |  | **$619\\\\.6** |  | $706\\\\.8 |\\n| Adjustments to reconcile net earnings to net cash provided by operating activities | | | | |  |  |  |\\n| Depreciation, depletion, accretion and amortization | | | |  | **468\\\\.4** |  | 464\\\\.4 |\\n| Noncash operating lease expense | | | |  | **38\\\\.6** |  | 40\\\\.7 |\\n| Net gain on sale of property, plant \\\\& equipment and businesses | | | |  | **(4\\\\.6\\\\)** |  | (22\\\\.8\\\\) |\\n| Loss on impairments | | | |  | **86\\\\.6** |  | 28\\\\.3 |\\n| Contributions to pension plans | | | |  | **(7\\\\.1\\\\)** |  | (5\\\\.6\\\\) |\\n| Share\\\\-based compensation expense | | | |  | **39\\\\.9** |  | 43\\\\.5 |\\n| Deferred income taxes, net | | | |  | **(30\\\\.3\\\\)** |  | (6\\\\.0\\\\) |\\n| Changes in assets and liabilities before initial | | | |  |  |  |  |\\n| effects of business acquisitions and dispositions | | | |  | **(246\\\\.5\\\\)** |  | (206\\\\.0\\\\) |\\n| Other, net |  |  |  |  | **4\\\\.9** |  | 11\\\\.9 |\\n| Net cash provided by operating activities | | | |  | **$969\\\\.5** |  | $1,055\\\\.2 |\\n| **Investing Activities** | | | |  |  |  |  |\\n| Purchases of property, plant \\\\& equipment | | | |  | **(441\\\\.0\\\\)** |  | (666\\\\.3\\\\) |\\n| Proceeds from sale of property, plant \\\\& equipment | | | |  | **5\\\\.6** |  | 26\\\\.2 |\\n| Proceeds from sale of businesses | | | |  | **0\\\\.2** |  | 130\\\\.0 |\\n| Payment for businesses', 2, 0)</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 14045 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_search_results\",\n",
       "      \"description\": \"get_search_results(query: str, max_results: int = 5) -> list[dict] - Get search results for the query.\\n\\n        Return list of dictionaries with keys 'title', 'url', and 'content'.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"max_results\": {\n",
       "            \"default\": 5,\n",
       "            \"type\": \"integer\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_page\",\n",
       "      \"description\": \"get_page(url: str) -> tuple[str, int, int] - Load web page and return content of its first viewport (first screen), current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"url\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"url\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_next_page\",\n",
       "      \"description\": \"get_next_page() -> tuple[str, int, int] - Load next page of the document and return the current content of the viewport, current page number and total number of pages.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {}\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "user (analyst): Vulcan Materials Company overview and recent developments\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_search_results', 'arguments': '{\"query\":\"Vulcan Materials Company overview and recent developments\",\"max_results\":5}'}, 'id': 'call_GslOjfOcYCZIUfHyGC4dzuXu', 'type': 'function'}]\n",
       "--\n",
       "tool: [{'title': 'Vulcan Materials Company', 'url': 'https://www.vulcanmaterials.com/', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel\\xa0...\"}, {'title': 'Vulcan Materials Company - Investor Relations', 'url': 'https://ir.vulcanmaterials.com/overview/default.aspx', 'content': \"Vulcan is the leading supplier of aggregates in the United States, with unmatched, easily accessed reserves within a footprint that includes the nation's high-\\xa0...\"}, {'title': 'VULCAN REPORTS THIRD QUARTER 2024 RESULTS', 'url': 'https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx', 'content': 'Oct 30, 2024 — We also recently announced the acquisition of Wake Stone Corporation, a leading pure-play aggregates producer, that will expand our reach in\\xa0...'}, {'title': 'About Vulcan', 'url': 'https://www.vulcanmaterials.com/about-vulcan', 'content': \"Vulcan Materials Company is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of\\xa0...\"}, {'title': 'History', 'url': 'https://www.vulcanmaterials.com/about-vulcan/history', 'content': 'Vulcan Materials Company became a publicly traded company with trading beginning on January 2, 1957. Its predecessor companies date to the early 20th Century.'}]\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_page', 'arguments': '{\"url\": \"https://www.vulcanmaterials.com/\"}'}, 'id': 'call_dFaynuf36G765NN3wKqaKYna', 'type': 'function'}, {'function': {'name': 'get_page', 'arguments': '{\"url\": \"https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx\"}'}, 'id': 'call_TRednOsoYJnfP06htkrPMMOZ', 'type': 'function'}]\n",
       "--\n",
       "tool: ('Title: \\n\\tHome\\n\\n=======================\\n[![Vulcan Materials Company](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/vulcan-materials-logo.png?sfvrsn=c2926ad1_1 \"Vulcan Materials Company\")](https://www.vulcanmaterials.com/)\\n\\n* [Careers](/careers)\\n* [News Releases](http://ir.vulcanmaterials.com/investor-relations/news-releases/default.aspx)\\n* [Employees](https://vul.onelogin.com)\\n* [Contact](/contact)\\n\\n| [Vulcan\\'s Statement on Inclusion \\\\& Diversity](https://csr.vulcanmaterials.com/2020/07/diversity-statement/) [Website Accessibility Statement](/accessibility-statement) |\\n| --- |\\n\\n[![Facebook](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/f_logo_rgb-hex-blue_512.png?sfvrsn=effc00bb_1)](https://www.facebook.com/VulcanMaterialsCompany/)\\xa0\\xa0[![Instagram](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/instagram_appicon_aug2017.png?sfvrsn=b5c79c26_1)](https://www.instagram.com/vulcanmaterialscompany/)\\xa0\\xa0[![YouTube](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/youtube-35px.png?sfvrsn=4dffab8d_1)](https://www.youtube.com/user/VulcanCorporate/videos)\\xa0\\xa0[![LinkedIn](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/linkedin-35px.png?sfvrsn=c4e982b3_1)](https://www.linkedin.com/company/vulcan-materials-company/)\\n\\n* [About Vulcan](https://www.vulcanmaterials.com/about-vulcan)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/about-vulcan.png?sfvrsn=bb5ab483_1)\\n\\n\\t+ [History](https://www.vulcanmaterials.com/about-vulcan/history)\\n\\t+ [Mission and Values](https://www.vulcanmaterials.com/about-vulcan/mission-and-values)\\n\\t+ [Executive Management](https://www.vulcanmaterials.com/about-vulcan/executive-management)\\n\\t+ [Corporate Office](https://www.vulcanmaterials.com/about-vulcan/corporate-office)\\n\\t+ [Industry Links](https://www.vulcanmaterials.com/about-vulcan/industry-links)\\n\\t+ [Careers](https://www.vulcanmaterials.com/about-vulcan/careers)\\n* [Construction Materials](https://www.vulcanmaterials.com/construction-materials)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/construction-materials.png?sfvrsn=e2b2e8f0_1)\\n\\n\\t+ [MyVulcan](https://www.vulcanmaterials.com/construction-materials/myvulcan)\\n\\t+ [Product Sales](https://www.vulcanmaterials.com/construction-materials/product-sales)\\n\\t+ [Products and Services](https://www.vulcanmaterials.com/construction-materials/products-and-services)\\n\\t+ [Suppliers](https://www.vulcanmaterials.com/construction-materials/suppliers)\\n\\t+ [Facilities Map](https://www.vulcanmaterials.com/construction-materials/facilities-map)\\n\\t+ [Operating Groups](https://www.vulcanmaterials.com/construction-materials/operating-groups)\\n\\t+ [Product Calculators](https://www.vulcanmaterials.com/construction-materials/product-calculators)\\n\\t+ [Credit Applications](https://www.vulcanmaterials.com/construction-materials/credit-applications)\\n\\t+ [Safety Data Sheets](https://www.vulcanmaterials.com/construction-materials/safety-data-sheets)\\n\\t+ [Product Declaration](https://www.vulcanmaterials.com/construction-materials/product-declaration)\\n\\t+ [Facilities](https://www.vulcanmaterials.com/construction-materials/facilities)\\n* [Investor Relations](https://www.vulcanmaterials.com/investor-relations)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/thmb-overview.jpg?sfvrsn=bfa2dc74_1)\\n\\n\\t+ [Overview](https://www.vulcanmaterials.com/investor-relations/overview)\\n\\t+ [Why Invest](https://www.vulcanmaterials.com/investor-relations/why-invest)\\n\\t+ [News](https://www.vulcanmaterials.com/investor-relations/news)\\n\\t+ [Events \\\\& Presentations](https://www.vulcanmaterials.com/investor-relations/events-presentations)\\n\\t+ [Stock Info](https://www.vulcanmaterials.com/investor-relations/stock-info)\\n\\t+ [Financials](https://www.vulcanmaterials.com/investor-relations/financials)\\n\\t+ [Governance](https://www.vulcanmaterials.com/investor-relations/governance)\\n\\t+ [Link to Earnings Call](https://www.vulcanmaterials.com/investor-relations/link-to-earnings-call)\\n\\t+ [Link to 2022 Investor Day](https://www.vulcanmaterials.com/investor-relations/link-to-2022-investor-day)\\n* [Social Responsibility](https://www.vulcanmaterials.com/social-responsibility)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/navigation-images/social-responsibility.jpg?sfvrsn=189cf41b_1)\\n\\n\\t+ [2023 Sustainability Report](https://www.vulcanmaterials.com/social-responsibility/2023-sustainability-report)\\n\\t+ [Safety \\\\& Health](https://www.vulcanmaterials.com/social-responsibility/safety-health)\\n\\t+ [Environmental Stewardship](https://www.vulcanmaterials.com/social-responsibility/environmental-stewardship)\\n\\t+ [People](https://www.vulcanmaterials.com/social-responsibility/people)\\n\\t+ [Community](https://www.vulcanmaterials.com/social-responsibility/community)\\n\\t+ [Governance](https://www.vulcanmaterials.com/social-responsibility/governance)\\n\\t+ [Teacher Center](https://www.vulcanmaterials.com/social-responsibility/teacher-center)\\n\\t+ [Vulcan Foundation](https://www.vulcanmaterials.com/social-responsibility/vulcan-foundation)\\n\\nBuilt On\\nEssentials\\n\\nA Strong Foundation\\n-------------------\\n\\nVulcan Materials Company is the nation’s largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of aggregates\\\\-based construction materials, including asphalt and ready\\\\-mixed concrete. Our coast\\\\-to\\\\-coast footprint and strategic distribution network align with and serve the nation’s growth centers.\\n\\n[Launch MyVulcan](https://portal.myvulcan.com)\\n[Learn More](/construction-materials/myvulcan)\\n\\n### **Local expertise**.Coast to coast.\\n\\n![Local expertise. Coast to Coast.](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/repmap.png?sfvrsn=409d3bf5_2 \"Local expertise. Coast to Coast.\")\\n\\n### SUSTAINING DURABLE GROWTH\\n\\n[VIEW OUR ENVIRONMENTAL, SOCIAL \\\\& GOVERNANCE REPORT](http://csr.vulcanmaterials.com/)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/sac-tun-panoramicas-_008.jpg?sfvrsn=37aff5ed_1 \"Sac Tun Panoramicas _008\")\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/build-your-career.jpg?sfvrsn=e22c15c8_1 \"build-your-career\")\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/wmc-logo-white.png?sfvrsn=7260911c_1)\\n\\n### From the **Newsroom**\\n\\n* 10/30/24\\n\\n[VULCAN REPORTS THIRD QUARTER 2024 RESULTS](https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-REPORTS-THIRD-QUARTER-2024-RESULTS/default.aspx)\\n---------------------------------------------------------------------------------------------------------------------------------------------------------\\n* 10/11/24\\n\\n[VULCAN DECLARES QUARTERLY DIVIDEND ON COMMON STOCK](https://ir.vulcanmaterials.com/news/news-details/2024/VULCAN-DECLARES-QUARTERLY-DIVIDEND-ON-COMMON-STOCK-2f26b6fb1/default.aspx)\\n-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------\\n\\n[Read More](https://ir.vulcanmaterials.com/investor-relations/news-releases/default.aspx)\\n\\n### [Contact](/contact)\\n\\n**Vulcan Materials Company**\\nCorporate Office\\n1200 Urban Center Drive\\nBirmingham, AL 35242\\nTel: (205\\\\) 298\\\\-3000\\n\\nPlease follow the hyperlinks to review the [Business Conduct Policy](https://s3.us-east-2.amazonaws.com/files.vulcanmaterials.com/vmc/Business-Conduct-Policy.pdf) or to report [concerns](https://secure.ethicspoint.com/domain/media/en/gui/16082/index.html).\\n\\nSiga los hipervínculos para revisar la\\xa0[Política de Conducta Empresarial](https://s3.us-east-2.amazonaws.com/files.vulcanmaterials.com/vmc/VMC-Business_Conduct_Policy_Spanish-2021.pdf)\\xa0o para reportar algún\\xa0[problema](https://secure.ethicspoint.com/domain/media/es/gui/16082/index.html).\\n\\nContact us for\\xa0[Product Sales](/construction-materials/product-sales).\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_aboutvulcan.png?sfvrsn=a4a41105_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_constructionmaterials.png?sfvrsn=c59fead5_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/footer_investorrelations.png?sfvrsn=3d684e71_1)\\n\\n![](https://vulcanmaterials.azureedge.net/content-v2/images/default-source/default-album/social-responsibility-footer.jpg?sfvrsn=c6651106_1)\\n\\nAbout Vulcan\\n\\n* [History](/about-vulcan/history)\\n* [Mission and Values](/about-vulcan/mission-and-values)\\n* [Executive Management](/about-vulcan/executive-management)\\n* [Corporate Office](/about-vulcan/corporate-office)\\n* [Industry Links](/about-vulcan/industry-links)\\n* [Careers](/about-vulcan/careers)\\n\\nConstruction Materials\\n\\n* [MyVulcan](/construction-materials/myvulcan)\\n* [Product Sales](/construction-materials/product-sales)\\n* [Products and Services](/construction-materials/products-and-services)\\n* [Suppliers](/construction-materials/suppliers)\\n* [Facilities Map](/construction-materials/facilities-map)\\n* [Operating Groups](/construction-materials/operating-groups)\\n* [Product Calculators](/construction-materials/product-calculators)\\n* [Credit Applications](/construction-materials/credit-applications)\\n* [Safety Data Sheets](/construction-materials/safety-data-sheets)\\n* [Product Declaration](/construction-materials/product-declaration)\\n* [Facilities](/construction-materials/facilities)\\n\\nInvestor Relations\\n\\n* [Overview](/investor-relations/overview)\\n* [Why Invest](/investor-relations/why-invest)\\n* [News](/investor-relations/news)\\n* [Events \\\\& Presentations](/investor-relations/events-presentations)\\n* [Stock Info](/investor-relations/stock-info)\\n* [Financials](/investor-relations/financials)\\n* [Governance](/investor-relations/governance)\\n* [Link to Earnings Call](/investor-relations/link-to-earnings-call)\\n* [Link to 2022 Investor Day](/investor-relations/link-to-2022-investor-day)\\n\\nSocial Responsibility\\n\\n* [2023 Sustainability Report](/social-responsibility/2023-sustainability-report)\\n* [Safety \\\\& Health](/social-responsibility/safety-health)\\n* [Environmental Stewardship](/social-responsibility/environmental-stewardship)\\n* [People](/social-responsibility/people)\\n* [Community](/social-responsibility/community)\\n* [Governance](/social-responsibility/governance)\\n* [Teacher Center](/social-responsibility/teacher-center)\\n* [Vulcan Foundation](/social-responsibility/vulcan-foundation)\\n\\n* [Site Map](/site-map)\\n* [Terms of Use](/terms-of-use)\\n* [Privacy Policy](/privacy-policy)\\n* [California Residents\\' Privacy Notice](/california-privacy-notice)\\n* [Contact Us About Our Site](/contact)\\n© 2024 Vulcan Materials Company', 1, 0)\n",
       "--\n",
       "tool: ('Title: \\n\\tVulcan Materials Company - VULCAN REPORTS THIRD QUARTER 2024 RESULTS\\n\\n=======================\\nir@vmcmail.com\\n(205\\\\) 298\\\\-3220\\n\\n* [Overview](https://ir.vulcanmaterials.com/overview/default.aspx)\\n\\t+ [Why Invest](https://ir.vulcanmaterials.com/why-invest/default.aspx)\\n\\t+ [News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\t+ [Events \\\\& Presentations](https://ir.vulcanmaterials.com/events-and-presentations/default.aspx)\\n\\t+ [Stock Info](https://ir.vulcanmaterials.com/stock-info/default.aspx)\\n\\t\\t- [Stock Quote](/stock-info/default.aspx#stock-quote)\\n\\t\\t- [Stock Chart](/stock-info/default.aspx#stock-chart)\\n\\t\\t- [Historical Stock Quote](/stock-info/default.aspx#stock-historical)\\n\\t\\t- [Investment Calculator](/stock-info/default.aspx#calculator)\\n\\t\\t- [Transfer Agent](https://ir.vulcanmaterials.com/stock-info/Transfer-Agent/default.aspx)\\n\\t\\t- [Analyst Coverage](https://ir.vulcanmaterials.com/stock-info/analyst-coverage/default.aspx)\\n\\t+ [Financials](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Quarterly Results](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Annual Reports](https://ir.vulcanmaterials.com/financials/annual-reports/default.aspx)\\n\\t\\t- [SEC Filings](https://ir.vulcanmaterials.com/financials/sec-filings/default.aspx)\\n\\t+ [Governance](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Governance Documents](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Executive Management](https://ir.vulcanmaterials.com/governance/executive-management/default.aspx)\\n\\t\\t- [Board of Directors](https://ir.vulcanmaterials.com/governance/board-of-directors/default.aspx)\\n\\t\\t- [Committee Composition](https://ir.vulcanmaterials.com/governance/committee-composition/default.aspx)\\n\\t\\t- [Contact the Board](https://ir.vulcanmaterials.com/governance/contact-the-board/default.aspx)\\n\\t+ [Resources](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Investor FAQs](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Information Request Form](https://ir.vulcanmaterials.com/resources/information-request-form/default.aspx)\\n\\t\\t- [Investor Email Alerts](https://ir.vulcanmaterials.com/resources/investor-email-alerts/default.aspx)\\n\\t\\t- [Investor Contacts](https://ir.vulcanmaterials.com/resources/investor-contacts/default.aspx)\\n\\n[Skip to main content](#maincontent)\\n\\n[![Vulcan Company Logo](//s201.q4cdn.com/142563501/files/design/vulcan-logo.png)](https://www.vulcanmaterials.com/)\\n\\n* [About Vulcan](https://www.vulcanmaterials.com/about-vulcan)\\n\\n\\t+ [History](https://www.vulcanmaterials.com/about-vulcan/history)\\n\\t+ [Mission and Values](https://www.vulcanmaterials.com/about-vulcan/mission-and-values)\\n\\t+ [Executive Management](/governance/executive-management/default.aspx)\\n\\t+ [Corporate Office](https://www.vulcanmaterials.com/about-vulcan/corporate-office)\\n\\t+ [Industry Links](https://www.vulcanmaterials.com/about-vulcan/industry-links)\\n\\t+ [Careers](https://www.vulcanmaterials.com/careers)\\n* Construction Materials\\n\\n\\t+ [Product Sales](https://www.vulcanmaterials.com/construction-materials/product-sales)\\n\\t+ [Products and Services](https://www.vulcanmaterials.com/construction-materials/products-and-services)\\n\\t+ [Suppliers](https://www.vulcanmaterials.com/construction-materials/suppliers)\\n\\t+ [Facilities Map](https://www.vulcanmaterials.com/construction-materials/facilities-map)\\n\\t+ [Operating Groups](https://www.vulcanmaterials.com/construction-materials/operating-groups)\\n\\t+ [Product Calculators](https://www.vulcanmaterials.com/construction-materials/product-calculators)\\n\\t+ [Credit Applications](https://www.vulcanmaterials.com/construction-materials/credit-applications)\\n\\t+ [Safety Data Sheets](https://www.vulcanmaterials.com/construction-materials/safety-data-sheets)\\n\\t+ [Product Declaration](https://www.vulcanmaterials.com/construction-materials/product-declaration)\\n\\t+ [Facilities](https://www.vulcanmaterials.com/construction-materials/facilities)\\n* [Investor Relations](/overview)\\n* [Social Responsibility](https://csr.vulcanmaterials.com/)\\n\\n\\t+ [2023 Sustainability Report](https://csr.vulcanmaterials.com)\\n\\t+ [Safety \\\\& Health](https://www.vulcanmaterials.com/social-responsibility/safety-health)\\n\\t+ [Environmental Stewardship](https://www.vulcanmaterials.com/social-responsibility/environmental-stewardship)\\n\\t+ [People](https://www.vulcanmaterials.com/social-responsibility/people)\\n\\t+ [Community](https://www.vulcanmaterials.com/social-responsibility/community)\\n\\t+ [Governance](https://www.vulcanmaterials.com/social-responsibility/governance)\\n\\t+ [Teacher Center](https://www.vulcanmaterials.com/social-responsibility/teacher-center)\\n\\t+ [Vulcan Foundation](https://www.vulcanmaterials.com/social-responsibility/vulcan-foundation)\\n\\nNews Details\\n============\\n\\n* [Overview](https://ir.vulcanmaterials.com/overview/default.aspx)\\n\\t+ [Why Invest](https://ir.vulcanmaterials.com/why-invest/default.aspx)\\n\\t+ [News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\t+ [Events \\\\& Presentations](https://ir.vulcanmaterials.com/events-and-presentations/default.aspx)\\n\\t+ [Stock Info](https://ir.vulcanmaterials.com/stock-info/default.aspx)\\n\\t\\t- [Stock Quote](/stock-info/default.aspx#stock-quote)\\n\\t\\t- [Stock Chart](/stock-info/default.aspx#stock-chart)\\n\\t\\t- [Historical Stock Quote](/stock-info/default.aspx#stock-historical)\\n\\t\\t- [Investment Calculator](/stock-info/default.aspx#calculator)\\n\\t\\t- [Transfer Agent](https://ir.vulcanmaterials.com/stock-info/Transfer-Agent/default.aspx)\\n\\t\\t- [Analyst Coverage](https://ir.vulcanmaterials.com/stock-info/analyst-coverage/default.aspx)\\n\\t+ [Financials](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Quarterly Results](https://ir.vulcanmaterials.com/financials/quarterly-results/default.aspx)\\n\\t\\t- [Annual Reports](https://ir.vulcanmaterials.com/financials/annual-reports/default.aspx)\\n\\t\\t- [SEC Filings](https://ir.vulcanmaterials.com/financials/sec-filings/default.aspx)\\n\\t+ [Governance](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Governance Documents](https://ir.vulcanmaterials.com/governance/governance-documents/default.aspx)\\n\\t\\t- [Executive Management](https://ir.vulcanmaterials.com/governance/executive-management/default.aspx)\\n\\t\\t- [Board of Directors](https://ir.vulcanmaterials.com/governance/board-of-directors/default.aspx)\\n\\t\\t- [Committee Composition](https://ir.vulcanmaterials.com/governance/committee-composition/default.aspx)\\n\\t\\t- [Contact the Board](https://ir.vulcanmaterials.com/governance/contact-the-board/default.aspx)\\n\\t+ [Resources](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Investor FAQs](https://ir.vulcanmaterials.com/resources/investor-faqs/default.aspx)\\n\\t\\t- [Information Request Form](https://ir.vulcanmaterials.com/resources/information-request-form/default.aspx)\\n\\t\\t- [Investor Email Alerts](https://ir.vulcanmaterials.com/resources/investor-email-alerts/default.aspx)\\n\\t\\t- [Investor Contacts](https://ir.vulcanmaterials.com/resources/investor-contacts/default.aspx)\\n\\n[View All News](https://ir.vulcanmaterials.com/news/default.aspx)\\n\\n### VULCAN REPORTS THIRD QUARTER 2024 RESULTS\\n\\nOctober 30, 2024\\n\\n[Download\\n(opens in new window)](//s201.q4cdn.com/142563501/files/doc_financials/2024/q3/VMC-3Q-2024-Earnings-Release.pdf)\\n\\n***Solid Execution Drives Margin Expansion Despite Extreme Weather Disruptions***\\n\\n***Uniquely Positioned Aggregates Business Supports Earnings Growth***\\n\\nBIRMINGHAM, Ala., Oct. 30, 2024 /PRNewswire/ \\\\-\\\\- Vulcan Materials Company (NYSE: VMC), the nation\\'s largest producer of construction aggregates, today announced results for the quarter ended September 30, 2024\\\\.\\n\\n**Financial Highlights Include:**\\n\\n|  | **Third Quarter** | |  | **Year\\\\-to\\\\-Date** | |  | **Trailing\\\\-Twelve Months** | |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n| Amounts in millions, except per unit data | **2024** | **2023** |  | **2024** | **2023** |  | **2024** | **2023** |\\n| Total revenues | $\\xa0\\xa0\\xa0\\xa0 2,004 | $\\xa0\\xa0\\xa0\\xa0 2,186 |  | $\\xa0\\xa0\\xa0\\xa0 5,564 | $\\xa0\\xa0\\xa0\\xa0 5,948 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7,398 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7,680 |\\n| Gross profit | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 565 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 591 |  | $\\xa0\\xa0\\xa0\\xa0 1,462 | $\\xa0\\xa0\\xa0\\xa0 1,476 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,935 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,826 |\\n| Selling, Administrative and General (SAG) | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 129 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 144 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 393 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 400 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 535 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 527 |\\n| As % of Total revenues | 6\\\\.4\\xa0% | 6\\\\.6\\xa0% |  | 7\\\\.1\\xa0% | 6\\\\.7\\xa0% |  | 7\\\\.2\\xa0% | 6\\\\.9\\xa0% |\\n| Net earnings attributable to Vulcan | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 208 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 276 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 618 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 706 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 846 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 825 |\\n| Adjusted EBITDA | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 581 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 602 |  | $\\xa0\\xa0\\xa0\\xa0 1,507 | $\\xa0\\xa0\\xa0\\xa0 1,535 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,983 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1,910 |\\n| Adjusted EBITDA Margin | 29\\\\.0\\xa0% | 27\\\\.6\\xa0% |  | 27\\\\.1\\xa0% | 25\\\\.8\\xa0% |  | 26\\\\.8\\xa0% | 24\\\\.9\\xa0% |\\n| Earnings attributable to Vulcan from \\xa0\\xa0\\xa0\\xa0 continuing operations per diluted share | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1\\\\.57 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.09 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 4\\\\.68 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.34 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.40 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.25 |\\n| Adjusted earnings attributable to Vulcan from \\xa0\\xa0\\xa0\\xa0 continuing operations per diluted share | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.22 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 2\\\\.29 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.37 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5\\\\.54 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.83 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 6\\\\.62 |\\n| Aggregates segment |  |  |  |  |  |  |  |  |\\n| Shipments (tons) | 57\\\\.7 | 64\\\\.0 |  | 166\\\\.0 | 179\\\\.2 |  | 221\\\\.4 | 233\\\\.5 |\\n| Freight\\\\-adjusted sales price per ton | $\\xa0\\xa0\\xa0\\xa0 21\\\\.27 | $\\xa0\\xa0\\xa0\\xa0 19\\\\.31 |  | $\\xa0\\xa0\\xa0\\xa0 20\\\\.98 | $\\xa0\\xa0\\xa0\\xa0 18\\\\.92 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 20\\\\.57 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 18\\\\.47 |\\n| Gross profit per ton | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 8\\\\.63 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.95 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 8\\\\.01 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.32 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.93 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 7\\\\.03 |\\n| Cash gross profit per ton | $\\xa0\\xa0\\xa0\\xa0 10\\\\.89 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.92 |  | $\\xa0\\xa0\\xa0\\xa0 10\\\\.31 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.32 |  | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 10\\\\.22 | $\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9\\\\.06 |\\n\\nTom Hill, Vulcan Materials\\' Chairman and Chief Executive Officer, said, \"Results and activities in the third quarter evidence the consistent execution of our two\\\\-pronged strategy to generate durable growth. \\xa0We continue to enhance our core through expansion of our industry\\\\-leading aggregates cash gross profit per ton, which increased 10 percent in the third quarter and has grown by double\\\\-digits for eight consecutive quarters.\\xa0 We also recently announced the acquisition of Wake Stone Corporation, a leading pure\\\\-play aggregates producer, that will expand our reach in high\\\\-growth geographies in the Carolinas.\\xa0 Our Vulcan Way of Selling and Vulcan Way of Operating disciplines remain fundamental to compounding profitability across our franchise and successfully integrating new operations.\"\\n\\n**Third Quarter Segment Results**\\n\\n**Aggregates**Third quarter segment gross profit was $498 million ($8\\\\.63 per ton), and gross profit margin expanded 40 basis points.\\xa0 Cash gross profit per ton improved 10 percent to $10\\\\.89 per ton, despite lower shipments and harsh weather conditions throughout the quarter.\\xa0 Improvements in unit profitability were widespread across the Company\\'s footprint.\\n\\nAggregates shipments decreased 10 percent as compared to the prior year\\'s third quarter.\\xa0 Shipments across the Southeast were impacted by significant rainfall in July, followed by numerous hurricanes and severe storms in August and September.\\xa0 The prior year\\'s third quarter included fewer severe weather events.\\n\\nThe pricing environment remained positive across the footprint.\\xa0 Freight\\\\-adjusted selling prices increased 10 percent as compared to the prior year.\\xa0 Freight\\\\-adjusted unit cash cost of sales was negatively impacted by lower volume and challenging weather\\\\-affected operating conditions; freight\\\\-adjusted cash cost of sales dollars remained flat compared to the prior year.\\n\\n**Asphalt and Concrete**Asphalt segment gross profit was $60 million, and cash gross profit was $72 million, a 12 percent improvement over the prior year.\\xa0 Shipments increased slightly as compared to the prior year, and price improved 6 percent.\\xa0 Concrete segment gross profit was $7 million, and cash gross profit was $17 million.\\xa0 The prior year\\'s third quarter included results from the previously divested concrete assets in Texas, which accounted for the majority of the year\\\\-over\\\\-year decline in cash gross profit.\\n\\n**Selling, Administrative and General (SAG) and Other Items**SAG expense was $129 million compared to $144 million in the prior year\\'s third quarter.\\xa0 As a percent of total revenues, SAG expense was 6\\\\.4 percent and 20 basis points lower than the prior year\\'s third quarter.\\n\\nThis year\\'s third quarter included a pretax charge of $87 million ($84 million after\\\\-tax) resulting from the write\\\\-off of goodwill for the Company\\'s concrete assets in Northern California.\\n\\n**Financial Position, Liquidity and Capital Allocation**The Company remains well positioned for continued growth with a strong liquidity position and balance sheet profile.\\xa0 As of September 30, 2024, the ratio of total debt to trailing\\\\-twelve months Adjusted EBITDA was 1\\\\.7 times and below the Company\\'s target range of 2\\\\.0 to 2\\\\.5 times.\\xa0 On a trailing\\\\-twelve months basis, return on invested capital improved 70 basis points over the prior year to 16\\\\.1 percent.\\n\\nCapital expenditures were $104 million in the third quarter and $402 million on a year\\\\-to\\\\-date basis.\\xa0 For the full year, the Company expects to spend between $625 and $650 million for maintenance and growth projects. \\xa0During the quarter, the Company returned $61 million to shareholders through dividends, a 6 percent increase versus the prior year\\'s third quarter.\\n\\nThe acquisition of Wake Stone Corporation is consistent with our disciplined capital allocation priorities and aggregates\\\\-led strategy of continuing to expand our reach to better serve more high\\\\-growth regions in the United States.\\xa0 The acquisition is expected to provide more than 60 years of quality hard rock reserves. \\xa0The Company expects to close the transaction during the fourth quarter of this year, subject to satisfaction of customary closing conditions.\\n\\n**Outlook**Regarding the Company\\'s current year outlook, Mr. Hill said, \"While significant weather disruptions have impacted construction activity through the first nine months of the year, overall demand fundamentals continue to underpin long\\\\-term growth.\\xa0 The pricing environment remains positive, and we continue to execute well.\\xa0 Given the decline in shipments to date and continued weather events so far in the fourth quarter, we now expect full\\\\-year Adjusted EBITDA of approximately $2 billion.\\n\\nMr. Hill continued, \"As we look to 2025, we expect aggregates price to improve high\\\\-single digits, cost to benefit from our Vulcan Way of Operating disciplines and moderating inflation and, most importantly, cash gross profit per ton to continue expanding at double\\\\-digit levels.\\xa0 A demand backdrop underpinned by growth in public construction activity and an improving private demand environment should lead to volume growth in 2025\\\\.\\xa0 Our steadfast focus to execute at the highest level – both commercially and operationally – positions us well to capitalize on improving volume and grow earnings.\"\\n\\n**Conference Call**Vulcan will host a conference call at 10:00 a.m. CT on October 30, 2024\\\\.\\xa0 A webcast will be available via the Company\\'s website at [www.vulcanmaterials.com](http://www.vulcanmaterials.com).\\xa0 Investors and other interested parties may access the teleconference live by calling 800\\\\-274\\\\-8461, or 203\\\\-518\\\\-9814 if outside the U.S.\\xa0 The conference ID is 4730253\\\\.\\xa0 The conference call will be recorded and available for replay at the Company\\'s website approximately two hours after the call.\\n\\n**About Vulcan Materials Company**Vulcan Materials Company, a member of the S\\\\&P 500 Index with headquarters in Birmingham, Alabama, is the nation\\'s largest supplier of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates\\\\-based construction materials, including asphalt and ready\\\\-mixed concrete.\\xa0 For additional information about Vulcan, go to [www.vulcanmaterials.com](https://c212.net/c/link/?t=0&l=en&o=4289777-1&h=1223876245&u=http%3A%2F%2Fwww.vulcanmaterials.com%2F&a=www.vulcanmaterials.com).\\n\\n**Non\\\\-GAAP Financial Measures**Because GAAP financial measures on a forward\\\\-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided\\xa0reconciliations for forward\\\\-looking non\\\\-GAAP measures, other than the reconciliation of Projected Adjusted EBITDA as included in Appendix 2 hereto. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.\\n\\n**FORWARD\\\\-LOOKING STATEMENT DISCLAIMER**This document contains forward\\\\-looking statements. \\xa0Statements that are not historical fact, including statements about Vulcan\\'s beliefs and expectations, are forward\\\\-looking statements.\\xa0 Generally, these statements relate to future financial performance, results of operations, business plans or strategies, projected or anticipated revenues, expenses, earnings (including EBITDA and other measures), dividend policy, shipment volumes, pricing, levels of capital expenditures, intended cost reductions and cost savings, anticipated profit improvements and/or planned divestitures and asset sales.\\xa0 These forward\\\\-looking statements are sometimes identified by the use of terms and phrases such as \"believe,\" \"should,\" \"would,\" \"expect,\" \"project,\" \"estimate,\" \"anticipate,\" \"intend,\" \"plan,\" \"will,\" \"can,\" \"may\" or similar expressions elsewhere in this document. \\xa0These statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to general business conditions, competitive factors, pricing, energy costs, and other risks and uncertainties discussed in the reports Vulcan periodically files with the SEC.\\n\\nForward\\\\-looking statements are not guarantees of future performance and actual results, developments, and business decisions may vary significantly from those expressed in or implied by the forward\\\\-looking statements.\\xa0 The following risks related to Vulcan\\'s business, among others, could cause actual results to differ materially from those described in the forward\\\\-looking statements: general economic and business conditions; domestic and global political, economic or diplomatic developments; a pandemic, epidemic or other public health emergency; Vulcan\\'s dependence on the construction industry, which is subject to economic cycles; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in Vulcan\\'s effective tax rate; the increasing reliance on information technology infrastructure, including the risks that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber\\\\-attacks; the impact of the state of the global economy on Vulcan\\'s businesses and financial condition and access to capital markets; international business operations and relationships, including recent actions taken by the Mexican government with respect to Vulcan\\'s property and operations in that country; the highly competitive nature of the construction industry; the impact of future regulatory or legislative actions, including those relating to climate change, biodiversity, land use, wetlands, greenhouse gas emissions, the definition of minerals, tax policy and domestic and international trade; the outcome of pending legal proceedings; pricing of Vulcan\\'s products; weather and other natural phenomena, including the impact of climate change and availability of water; availability and cost of trucks, railcars, barges and ships as well as their licensed operators for transport of Vulcan\\'s materials; energy costs; costs of hydrocarbon\\\\-based raw materials; healthcare costs; labor relations, shortages and constraints; the amount of long\\\\-term debt and interest expense incurred by Vulcan; changes in interest rates; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; Vulcan\\'s ability to secure and permit aggregates reserves in strategically located areas; Vulcan\\'s ability to manage and successfully integrate acquisitions; Vulcan\\'s proposed acquisition of Wake Stone Corporation (\"Wake Stone\"), including: (1\\\\) Vulcan\\'s ability to complete the transaction on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary approvals and the satisfaction of other closing conditions to consummate the proposed transaction; (2\\\\) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement relating to the proposed transaction; (3\\\\) failure to realize the expected benefits of the proposed transaction; (4\\\\) significant transaction costs and/or unknown or inestimable liabilities; (5\\\\) the risk that Wake Stone\\'s business will not be integrated successfully or that such integration may be more difficult, time\\\\-consuming or costly than expected; (6\\\\) risks related to future opportunities and plans for the combined company; (7\\\\) disruption from the proposed transaction, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; and (8\\\\) the possibility that, if Vulcan does not achieve the perceived benefits of the proposed transaction as rapidly or to the extent anticipated by financial analysts or investors, the market price of Vulcan\\'s common stock could decline; the effect of changes in tax laws, guidance and interpretations; significant downturn in the construction industry may result in the impairment of goodwill or long\\\\-lived assets; changes in technologies, which could disrupt the way Vulcan does business and how Vulcan\\'s products are distributed; the risks of open pit and underground mining; expectations relating to environmental, social and governance considerations; claims that our products do not meet regulatory requirements or contractual specifications; and other assumptions, risks and uncertainties detailed from time to time in the reports filed by Vulcan with the SEC.\\xa0 All forward\\\\-looking statements in this communication are qualified in their entirety by this cautionary statement. \\xa0Vulcan disclaims and does not undertake any obligation to update or revise any forward\\\\-looking statement in this document except as required by law.\\n\\nInvestor Contact: \\xa0Mark Warren (205\\\\) 298\\\\-3220\\nMedia Contact: \\xa0Jack Bonnikson (205\\\\) 298\\\\-3220\\n\\n|  |  |  |  |  |  |  |  |  |  |  | Table A |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n|  | **Vulcan Materials Company** | | |  |  |  |  |  |  |  |  |\\n|  | **and Subsidiary Companies** | | |  |  |  |  |  |  |  |  |\\n|  |  |  |  |  | (in millions, except per share data) | | | | | | |\\n|  |  |  |  |  | ***Three Months Ended*** | | |  | ***Nine Months Ended*** | | |\\n|  | **Consolidated Statements of Earnings** | | |  | ***September 30*** | | |  | ***September 30*** | | |\\n|  | (Condensed and unaudited) | | |  | ***2024*** |  | *2023* |  | ***2024*** |  | *2023* |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Total revenues | | |  | **$2,003\\\\.9** |  | $2,185\\\\.8 |  | **$5,564\\\\.0** |  | $5,947\\\\.6 |\\n|  | Cost of revenues | | |  | **(1,438\\\\.7\\\\)** |  | (1,594\\\\.8\\\\) |  | **(4,101\\\\.6\\\\)** |  | (4,471\\\\.3\\\\) |\\n|  | Gross profit | | |  | **565\\\\.2** |  | 591\\\\.0 |  | **1,462\\\\.4** |  | 1,476\\\\.3 |\\n|  | Selling, administrative and general expenses | | |  | **(129\\\\.1\\\\)** |  | (143\\\\.9\\\\) |  | **(393\\\\.0\\\\)** |  | (400\\\\.4\\\\) |\\n|  | Gain on sale of property, plant \\\\& equipment | | |  |  |  |  |  |  |  |  |\\n|  | and businesses | | |  | **0\\\\.2** |  | 4\\\\.3 |  | **4\\\\.6** |  | 22\\\\.8 |\\n|  | Loss on impairments | | |  | **(86\\\\.6\\\\)** |  | (28\\\\.3\\\\) |  | **(86\\\\.6\\\\)** |  | (28\\\\.3\\\\) |\\n|  | Other operating expense, net | | |  | **(12\\\\.6\\\\)** |  | (4\\\\.2\\\\) |  | **(23\\\\.9\\\\)** |  | (13\\\\.1\\\\) |\\n|  | Operating earnings | | |  | **337\\\\.1** |  | 418\\\\.9 |  | **963\\\\.5** |  | 1,057\\\\.3 |\\n|  | Other nonoperating expense, net | | |  | **(3\\\\.8\\\\)** |  | (6\\\\.4\\\\) |  | **(12\\\\.7\\\\)** |  | (5\\\\.3\\\\) |\\n|  | Interest expense, net | | |  | **(38\\\\.4\\\\)** |  | (46\\\\.6\\\\) |  | **(117\\\\.7\\\\)** |  | (142\\\\.2\\\\) |\\n|  | Earnings from continuing operations | | |  |  |  |  |  |  |  |  |\\n|  | before income taxes | | |  | **294\\\\.9** |  | 365\\\\.9 |  | **833\\\\.1** |  | 909\\\\.8 |\\n|  | Income tax expense | | |  | **(85\\\\.2\\\\)** |  | (85\\\\.8\\\\) |  | **(208\\\\.5\\\\)** |  | (194\\\\.4\\\\) |\\n|  | Earnings from continuing operations | | |  | **209\\\\.7** |  | 280\\\\.1 |  | **624\\\\.6** |  | 715\\\\.4 |\\n|  | Loss on discontinued operations, net of tax | | |  | **(1\\\\.3\\\\)** |  | (2\\\\.8\\\\) |  | **(5\\\\.0\\\\)** |  | (8\\\\.6\\\\) |\\n|  | Net earnings |  |  |  | **208\\\\.4** |  | 277\\\\.3 |  | **619\\\\.6** |  | 706\\\\.8 |\\n|  | Earnings attributable to noncontrolling interest | | |  | **(0\\\\.8\\\\)** |  | (0\\\\.8\\\\) |  | **(1\\\\.4\\\\)** |  | (1\\\\.0\\\\) |\\n|  | Net earnings attributable to Vulcan | | |  | **$207\\\\.6** |  | $276\\\\.5 |  | **$618\\\\.2** |  | $705\\\\.8 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Basic earnings (loss) per share attributable to Vulcan | | |  |  |  |  |  |  |  |  |\\n|  | Continuing operations | | |  | **$1\\\\.58** |  | $2\\\\.10 |  | **$4\\\\.71** |  | $5\\\\.37 |\\n|  | Discontinued operations | | |  | **($0\\\\.01\\\\)** |  | ($0\\\\.02\\\\) |  | **($0\\\\.04\\\\)** |  | ($0\\\\.07\\\\) |\\n|  | Net earnings | | |  | **$1\\\\.57** |  | $2\\\\.08 |  | **$4\\\\.67** |  | $5\\\\.30 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Diluted earnings (loss) per share attributable to Vulcan | | | |  |  |  |  |  |  |  |\\n|  | Continuing operations | | |  | **$1\\\\.57** |  | $2\\\\.09 |  | **$4\\\\.68** |  | $5\\\\.34 |\\n|  | Discontinued operations | | |  | **($0\\\\.01\\\\)** |  | ($0\\\\.02\\\\) |  | **($0\\\\.03\\\\)** |  | ($0\\\\.06\\\\) |\\n|  | Net earnings | | |  | **$1\\\\.56** |  | $2\\\\.07 |  | **$4\\\\.65** |  | $5\\\\.28 |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  |  |  |  |  |  |  |  |  |  |  |  |\\n|  | Weighted\\\\-average common shares outstanding | | |  |  |  |  |  |  |  |  |\\n|  | Basic | | |  | **132\\\\.2** |  | 133\\\\.0 |  | **132\\\\.3** |  | 133\\\\.1 |\\n|  | Assuming dilution | | |  | **133\\\\.0** |  | 133\\\\.7 |  | **133\\\\.1** |  | 133\\\\.7 |\\n|  | Effective tax rate from continuing operations | | |  | **28\\\\.9\\xa0%** |  | 23\\\\.4\\xa0% |  | **25\\\\.0\\xa0%** |  | 21\\\\.4\\xa0% |\\n\\n|  |  |  |  |  |  |  |  | Table B |\\n| --- | --- | --- | --- | --- | --- | --- | --- | --- |\\n| **Vulcan Materials Company** | | |  |  |  |  |  |  |\\n| **and Subsidiary Companies** | | |  |  |  |  |  |  |\\n|  |  |  |  |  |  |  |  | (in millions) |\\n| **Consolidated Balance Sheets** | | |  | ***September 30*** |  | *December 31* |  | *September 30* |\\n| (Condensed and unaudited) | | |  | ***2024*** |  | *2023* |  | *2023* |\\n| **Assets** | | |  |  |  |  |  |  |\\n| Cash and cash equivalents | | |  | **$433\\\\.2** |  | $931\\\\.1 |  | $340\\\\.0 |\\n| Restricted cash | | |  | **1\\\\.1** |  | 18\\\\.1 |  | 5\\\\.0 |\\n| Accounts and notes receivable | | |  |  |  |  |  |  |\\n| Accounts and notes receivable, gross | | |  | **1,030\\\\.9** |  | 903\\\\.3 |  | 1,199\\\\.2 |\\n| Allowance for credit losses | | |  | **(13\\\\.5\\\\)** |  | (13\\\\.6\\\\) |  | (14\\\\.7\\\\) |\\n| Accounts and notes receivable, net | | |  | **1,017\\\\.4** |  | 889\\\\.7 |  | 1,184\\\\.5 |\\n| Inventories | | |  |  |  |  |  |  |\\n| Finished products | | |  | **505\\\\.9** |  | 494\\\\.4 |  | 448\\\\.1 |\\n| Raw materials | | |  | **62\\\\.2** |  | 51\\\\.2 |  | 50\\\\.5 |\\n| Products in process | | |  | **11\\\\.1** |  | 6\\\\.5 |  | 8\\\\.6 |\\n| Operating supplies and other | | |  | **68\\\\.5** |  | 63\\\\.5 |  | 63\\\\.4 |\\n| Inventories | | |  | **647\\\\.7** |  | 615\\\\.6 |  | 570\\\\.6 |\\n| Other current assets | | |  | **113\\\\.5** |  | 70\\\\.4 |  | 106\\\\.0 |\\n| Assets held for sale | | |  | **0\\\\.0** |  | 0\\\\.0 |  | 495\\\\.1 |\\n| Total current assets | | |  | **2,212\\\\.9** |  | 2,524\\\\.9 |  | 2,701\\\\.2 |\\n| Investments and long\\\\-term receivables | | |  | **31\\\\.4** |  | 31\\\\.3 |  | 31\\\\.2 |\\n| Property, plant \\\\& equipment | | |  |  |  |  |  |  |\\n| Property, plant \\\\& equipment, cost | | |  | **12,350\\\\.5** |  | 11,835\\\\.5 |  | 11,610\\\\.4 |\\n| Allowances for depreciation, depletion \\\\& amortization | | |  | **(5,937\\\\.0\\\\)** |  | (5,617\\\\.8\\\\) |  | (5,498\\\\.4\\\\) |\\n| Property, plant \\\\& equipment, net | | |  | **6,413\\\\.5** |  | 6,217\\\\.7 |  | 6,112\\\\.0 |\\n| Operating lease right\\\\-of\\\\-use assets, net | | |  | **508\\\\.3** |  | 511\\\\.7 |  | 521\\\\.5 |\\n| Goodwill | | |  | **3,450\\\\.0** |  | 3,531\\\\.7 |  | 3,531\\\\.7 |\\n| Other intangible assets, net | | |  | **1,448\\\\.3** |  | 1,460\\\\.7 |  | 1,471\\\\.8 |\\n| Other noncurrent assets | | |  | **287\\\\.5** |  | 267\\\\.7 |  | 251\\\\.1 |\\n| Total assets | | |  | **$14,351\\\\.9** |  | $14,545\\\\.7 |  | $14,620\\\\.5 |\\n| **Liabilities** | | |  |  |  |  |  |  |\\n| Current maturities of long\\\\-term debt | | |  | **0\\\\.5** |  | 0\\\\.5 |  | 0\\\\.5 |\\n| Trade payables and accruals | | |  | **352\\\\.6** |  | 390\\\\.4 |  | 412\\\\.8 |\\n| Other current liabilities | | |  | **421\\\\.0** |  | 406\\\\.7 |  | 440\\\\.8 |\\n| Liabilities of assets held for sale | | |  | **0\\\\.0** |  | 0\\\\.0 |  | 10\\\\.1 |\\n| Total current liabilities | | |  | **774\\\\.1** |  | 797\\\\.6 |  | 864\\\\.2 |\\n| Long\\\\-term debt | | |  | **3,329\\\\.2** |  | 3,877\\\\.3 |  | 3,874\\\\.3 |\\n| Deferred income taxes, net | | |  | **1,000\\\\.3** |  | 1,028\\\\.9 |  | 1,068\\\\.3 |\\n| Deferred revenue | | |  | **139\\\\.4** |  | 145\\\\.3 |  | 147\\\\.4 |\\n| Noncurrent operating lease liabilities | | |  | **503\\\\.5** |  | 507\\\\.4 |  | 516\\\\.0 |\\n| Other noncurrent liabilities | | |  | **712\\\\.3** |  | 681\\\\.3 |  | 685\\\\.1 |\\n| Total liabilities | | |  | **$6,458\\\\.8** |  | $7,037\\\\.8 |  | $7,155\\\\.3 |\\n| **Equity** | | |  |  |  |  |  |  |\\n| Common stock, $1 par value | | |  | **132\\\\.1** |  | 132\\\\.1 |  | 132\\\\.9 |\\n| Capital in excess of par value | | |  | **2,895\\\\.0** |  | 2,880\\\\.1 |  | 2,862\\\\.4 |\\n| Retained earnings | | |  | **4,980\\\\.7** |  | 4,615\\\\.0 |  | 4,595\\\\.0 |\\n| Accumulated other comprehensive loss | | |  | **(138\\\\.8\\\\)** |  | (143\\\\.8\\\\) |  | (149\\\\.7\\\\) |\\n| Total shareholder\\'s equity | | |  | **7,869\\\\.0** |  | 7,483\\\\.4 |  | 7,440\\\\.6 |\\n| Noncontrolling interest | | |  | **24\\\\.1** |  | 24\\\\.5 |  | 24\\\\.6 |\\n| Total equity | | |  | **$7,893\\\\.1** |  | $7,507\\\\.9 |  | $7,465\\\\.2 |\\n| Total liabilities and equity | | |  | **$14,351\\\\.9** |  | $14,545\\\\.7 |  | $14,620\\\\.5 |\\n\\n|  |  |  |  |  |  |  | Table C |\\n| --- | --- | --- | --- | --- | --- | --- | --- |\\n| **Vulcan Materials Company** | | | |  |  |  |  |\\n| **and Subsidiary Companies** | | | |  |  |  |  |\\n|  |  |  |  |  |  |  | (in millions) |\\n|  |  |  |  |  |  |  | ***Nine Months Ended*** |\\n| **Consolidated Statements of Cash Flows** | | | |  |  |  | ***September 30*** |\\n| (Condensed and unaudited) | | | |  | ***2024*** |  | *2023* |\\n| **Operating Activities** | | | |  |  |  |  |\\n| Net earnings |  |  |  |  | **$619\\\\.6** |  | $706\\\\.8 |\\n| Adjustments to reconcile net earnings to net cash provided by operating activities | | | | |  |  |  |\\n| Depreciation, depletion, accretion and amortization | | | |  | **468\\\\.4** |  | 464\\\\.4 |\\n| Noncash operating lease expense | | | |  | **38\\\\.6** |  | 40\\\\.7 |\\n| Net gain on sale of property, plant \\\\& equipment and businesses | | | |  | **(4\\\\.6\\\\)** |  | (22\\\\.8\\\\) |\\n| Loss on impairments | | | |  | **86\\\\.6** |  | 28\\\\.3 |\\n| Contributions to pension plans | | | |  | **(7\\\\.1\\\\)** |  | (5\\\\.6\\\\) |\\n| Share\\\\-based compensation expense | | | |  | **39\\\\.9** |  | 43\\\\.5 |\\n| Deferred income taxes, net | | | |  | **(30\\\\.3\\\\)** |  | (6\\\\.0\\\\) |\\n| Changes in assets and liabilities before initial | | | |  |  |  |  |\\n| effects of business acquisitions and dispositions | | | |  | **(246\\\\.5\\\\)** |  | (206\\\\.0\\\\) |\\n| Other, net |  |  |  |  | **4\\\\.9** |  | 11\\\\.9 |\\n| Net cash provided by operating activities | | | |  | **$969\\\\.5** |  | $1,055\\\\.2 |\\n| **Investing Activities** | | | |  |  |  |  |\\n| Purchases of property, plant \\\\& equipment | | | |  | **(441\\\\.0\\\\)** |  | (666\\\\.3\\\\) |\\n| Proceeds from sale of property, plant \\\\& equipment | | | |  | **5\\\\.6** |  | 26\\\\.2 |\\n| Proceeds from sale of businesses | | | |  | **0\\\\.2** |  | 130\\\\.0 |\\n| Payment for businesses', 2, 0)</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 514 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"### Vulcan Materials Company Overview\\n\\nVulcan Materials Company is the largest producer of construction aggregates in the United States, primarily dealing in crushed stone, sand, and gravel. The company also produces aggregates-based construction materials, including asphalt and ready-mixed concrete. Vulcan's operations are strategically distributed across the nation to align with and serve the country's growth centers. The company is headquartered in Birmingham, Alabama, and is a member of the S&P 500 Index.\\n\\n### Recent Developments\\n\\n1. **Third Quarter 2024 Financial Results**:\\n   - Vulcan reported its third-quarter results for 2024, highlighting solid execution and margin expansion despite extreme weather disruptions.\\n   - Total revenues for the quarter were $2.004 billion, with a gross profit of $565 million.\\n   - The company experienced a decrease in aggregates shipments by 10% due to significant weather disruptions, including hurricanes and severe storms.\\n   - Despite lower shipments, the aggregates segment saw a 10% increase in freight-adjusted selling prices.\\n   - The acquisition of Wake Stone Corporation was announced, which is expected to expand Vulcan's reach in high-growth geographies in the Carolinas.\\n\\n2. **Financial Highlights**:\\n   - Net earnings attributable to Vulcan were $208 million for the third quarter.\\n   - Adjusted EBITDA was $581 million, with an adjusted EBITDA margin of 29%.\\n   - The company maintained a strong liquidity position with a total debt to trailing-twelve months Adjusted EBITDA ratio of 1.7 times.\\n\\n3. **Outlook**:\\n   - Vulcan expects full-year Adjusted EBITDA of approximately $2 billion, considering the weather disruptions and shipment declines.\\n   - For 2025, the company anticipates high-single-digit improvements in aggregates pricing and continued expansion in cash gross profit per ton.\\n\\n4. **Strategic Initiatives**:\\n   - The acquisition of Wake Stone Corporation aligns with Vulcan's strategy to expand its reach in high-growth regions and is expected to provide over 60 years of quality hard rock reserves.\\n   - The company continues to focus on enhancing its core operations and integrating new acquisitions effectively.\\n\\n5. **Capital Allocation**:\\n   - Vulcan returned $61 million to shareholders through dividends during the third quarter, marking a 6% increase compared to the previous year.\\n   - Capital expenditures for the year are expected to range between $625 and $650 million for maintenance and growth projects.\\n\\nThese developments reflect Vulcan's strategic focus on growth through acquisitions and operational efficiency, despite challenges posed by weather conditions.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box respond'><h4 class='step-header'>[17] search_agent responds to analyst</h4><pre class='step-text'>kind: respond\n",
       "copy_output: false\n",
       "\n",
       "<details><summary>2655 characters ...</summary>### Vulcan Materials Company Overview\n",
       "\n",
       "Vulcan Materials Company is the largest producer of construction aggregates in the United States, primarily dealing in crushed stone, sand, and gravel. The company also produces aggregates-based construction materials, including asphalt and ready-mixed concrete. Vulcan's operations are strategically distributed across the nation to align with and serve the country's growth centers. The company is headquartered in Birmingham, Alabama, and is a member of the S&P 500 Index.\n",
       "\n",
       "### Recent Developments\n",
       "\n",
       "1. **Third Quarter 2024 Financial Results**:\n",
       "   - Vulcan reported its third-quarter results for 2024, highlighting solid execution and margin expansion despite extreme weather disruptions.\n",
       "   - Total revenues for the quarter were $2.004 billion, with a gross profit of $565 million.\n",
       "   - The company experienced a decrease in aggregates shipments by 10% due to significant weather disruptions, including hurricanes and severe storms.\n",
       "   - Despite lower shipments, the aggregates segment saw a 10% increase in freight-adjusted selling prices.\n",
       "   - The acquisition of Wake Stone Corporation was announced, which is expected to expand Vulcan's reach in high-growth geographies in the Carolinas.\n",
       "\n",
       "2. **Financial Highlights**:\n",
       "   - Net earnings attributable to Vulcan were $208 million for the third quarter.\n",
       "   - Adjusted EBITDA was $581 million, with an adjusted EBITDA margin of 29%.\n",
       "   - The company maintained a strong liquidity position with a total debt to trailing-twelve months Adjusted EBITDA ratio of 1.7 times.\n",
       "\n",
       "3. **Outlook**:\n",
       "   - Vulcan expects full-year Adjusted EBITDA of approximately $2 billion, considering the weather disruptions and shipment declines.\n",
       "   - For 2025, the company anticipates high-single-digit improvements in aggregates pricing and continued expansion in cash gross profit per ton.\n",
       "\n",
       "4. **Strategic Initiatives**:\n",
       "   - The acquisition of Wake Stone Corporation aligns with Vulcan's strategy to expand its reach in high-growth regions and is expected to provide over 60 years of quality hard rock reserves.\n",
       "   - The company continues to focus on enhancing its core operations and integrating new acquisitions effectively.\n",
       "\n",
       "5. **Capital Allocation**:\n",
       "   - Vulcan returned $61 million to shareholders through dividends during the third quarter, marking a 6% increase compared to the previous year.\n",
       "   - Capital expenditures for the year are expected to range between $625 and $650 million for maintenance and growth projects.\n",
       "\n",
       "These developments reflect Vulcan's strategic focus on growth through acquisitions and operational efficiency, despite challenges posed by weather conditions.</details></pre></div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "        <details>\n",
       "            <summary>Prompt 1813 tokens </summary>\n",
       "            <pre style='font-size: 12px; white-space: pre-wrap;word-wrap: break-word;'>tool_schemas: [\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_ticker\",\n",
       "      \"description\": \"get_stock_ticker(company_name: str) - Get company stock ticker from its name.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"company_name\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"company_name\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"get_stock_data\",\n",
       "      \"description\": \"get_stock_data(symbol: str, start_date: str, end_date: str) - Get stock proces for a given symbol and date range.\\n\\n    Args:\\n        symbol (str): Stock symbol.\\n        start_date (str): Start date in the format 'YYYY-MM-DD'.\\n        end_date (str): End date in the format 'YYYY-MM-DD'.\\n\\n    Returns:\\n        (list[tuple]): List of tuples, each tuple contains a 'YYYY-MM-DD' date and the stock price.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"symbol\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"start_date\": {\n",
       "            \"type\": \"string\"\n",
       "          },\n",
       "          \"end_date\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"symbol\",\n",
       "          \"start_date\",\n",
       "          \"end_date\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  },\n",
       "  {\n",
       "    \"type\": \"function\",\n",
       "    \"function\": {\n",
       "      \"name\": \"call_search_agent\",\n",
       "      \"description\": \"call_search_agent(query: str) - Use this tool to ask a fellow AI agent to search for information on the web.\",\n",
       "      \"parameters\": {\n",
       "        \"type\": \"object\",\n",
       "        \"properties\": {\n",
       "          \"query\": {\n",
       "            \"type\": \"string\"\n",
       "          }\n",
       "        },\n",
       "        \"required\": [\n",
       "          \"query\"\n",
       "        ]\n",
       "      }\n",
       "    }\n",
       "  }\n",
       "]\n",
       "--\n",
       "system: \n",
       "You will help the user to learn about financials of companies. \n",
       "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
       "Today is 2024-09-17.\n",
       "\n",
       "--\n",
       "user: Tell me about Vulcan in 3 sentences\n",
       "--\n",
       "assistant: 1. Use the `functions.get_stock_ticker` tool to find the stock ticker symbol for Vulcan.\n",
       "2. Use the `functions.get_stock_data` tool to retrieve Vulcan's stock price data for the past year using the obtained stock ticker.\n",
       "3. Use the `functions.call_search_agent` tool to gather general information about Vulcan, including its business operations and recent developments.\n",
       "4. Compile the stock price changes and general company information into a concise summary to provide to the user.\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_ticker', 'arguments': '{\"company_name\":\"Vulcan\"}'}, 'id': 'call_ei467wA8XiLcNTGjN1AgQO3l', 'type': 'function'}]\n",
       "--\n",
       "tool: VMC\n",
       "--\n",
       "assistant: [{'function': {'name': 'get_stock_data', 'arguments': '{\"symbol\": \"VMC\", \"start_date\": \"2023-09-17\", \"end_date\": \"2024-09-17\"}'}, 'id': 'call_5XFKGuNHvuWkSorvn2eBjDmC', 'type': 'function'}]\n",
       "--\n",
       "tool: [('2023-09-18', 211.69000244140625), ('2023-09-22', 200.6199951171875), ('2023-09-28', 205.02999877929688), ('2023-10-04', 205.02999877929688), ('2023-10-10', 211.0), ('2023-10-16', 213.0399932861328), ('2023-10-20', 201.5500030517578), ('2023-10-26', 193.97000122070312), ('2023-11-01', 203.8000030517578), ('2023-11-07', 207.2100067138672), ('2023-11-13', 210.49000549316406), ('2023-11-17', 212.35000610351562), ('2023-11-24', 211.67999267578125), ('2023-11-30', 213.55999755859375), ('2023-12-06', 211.92999267578125), ('2023-12-12', 220.89999389648438), ('2023-12-18', 222.6999969482422), ('2023-12-22', 224.92999267578125), ('2023-12-29', 227.00999450683594), ('2024-01-05', 221.6199951171875), ('2024-01-11', 224.36000061035156), ('2024-01-18', 225.1199951171875), ('2024-01-24', 219.8000030517578), ('2024-01-30', 231.0500030517578), ('2024-02-05', 229.64999389648438), ('2024-02-09', 240.0), ('2024-02-15', 242.4600067138672), ('2024-02-22', 256.94000244140625), ('2024-02-28', 262.29998779296875), ('2024-03-05', 264.9800109863281), ('2024-03-11', 264.95001220703125), ('2024-03-15', 266.8599853515625), ('2024-03-21', 275.5899963378906), ('2024-03-27', 272.7900085449219), ('2024-04-03', 268.7699890136719), ('2024-04-09', 265.6199951171875), ('2024-04-15', 260.4700012207031), ('2024-04-19', 252.05999755859375), ('2024-04-25', 258.5400085449219), ('2024-05-01', 259.7300109863281), ('2024-05-07', 268.3500061035156), ('2024-05-13', 270.0899963378906), ('2024-05-17', 259.1000061035156), ('2024-05-23', 257.2099914550781), ('2024-05-30', 254.0800018310547), ('2024-06-05', 251.17999267578125), ('2024-06-11', 244.63999938964844), ('2024-06-17', 256.3500061035156), ('2024-06-24', 247.5800018310547), ('2024-06-28', 248.67999267578125), ('2024-07-05', 244.2100067138672), ('2024-07-11', 254.69000244140625), ('2024-07-17', 255.8000030517578), ('2024-07-23', 260.1499938964844), ('2024-07-29', 264.5299987792969), ('2024-08-02', 266.3399963378906), ('2024-08-08', 246.3300018310547), ('2024-08-14', 242.5), ('2024-08-20', 245.60000610351562), ('2024-08-26', 250.67999267578125), ('2024-08-30', 245.2100067138672), ('2024-09-06', 231.97000122070312), ('2024-09-12', 236.27000427246094)]\n",
       "--\n",
       "assistant: Call search_agent with the message 'Vulcan Materials Company overview and recent developments'\n",
       "--\n",
       "user (search_agent): ### Vulcan Materials Company Overview\n",
       "\n",
       "Vulcan Materials Company is the largest producer of construction aggregates in the United States, primarily dealing in crushed stone, sand, and gravel. The company also produces aggregates-based construction materials, including asphalt and ready-mixed concrete. Vulcan's operations are strategically distributed across the nation to align with and serve the country's growth centers. The company is headquartered in Birmingham, Alabama, and is a member of the S&P 500 Index.\n",
       "\n",
       "### Recent Developments\n",
       "\n",
       "1. **Third Quarter 2024 Financial Results**:\n",
       "   - Vulcan reported its third-quarter results for 2024, highlighting solid execution and margin expansion despite extreme weather disruptions.\n",
       "   - Total revenues for the quarter were $2.004 billion, with a gross profit of $565 million.\n",
       "   - The company experienced a decrease in aggregates shipments by 10% due to significant weather disruptions, including hurricanes and severe storms.\n",
       "   - Despite lower shipments, the aggregates segment saw a 10% increase in freight-adjusted selling prices.\n",
       "   - The acquisition of Wake Stone Corporation was announced, which is expected to expand Vulcan's reach in high-growth geographies in the Carolinas.\n",
       "\n",
       "2. **Financial Highlights**:\n",
       "   - Net earnings attributable to Vulcan were $208 million for the third quarter.\n",
       "   - Adjusted EBITDA was $581 million, with an adjusted EBITDA margin of 29%.\n",
       "   - The company maintained a strong liquidity position with a total debt to trailing-twelve months Adjusted EBITDA ratio of 1.7 times.\n",
       "\n",
       "3. **Outlook**:\n",
       "   - Vulcan expects full-year Adjusted EBITDA of approximately $2 billion, considering the weather disruptions and shipment declines.\n",
       "   - For 2025, the company anticipates high-single-digit improvements in aggregates pricing and continued expansion in cash gross profit per ton.\n",
       "\n",
       "4. **Strategic Initiatives**:\n",
       "   - The acquisition of Wake Stone Corporation aligns with Vulcan's strategy to expand its reach in high-growth regions and is expected to provide over 60 years of quality hard rock reserves.\n",
       "   - The company continues to focus on enhancing its core operations and integrating new acquisitions effectively.\n",
       "\n",
       "5. **Capital Allocation**:\n",
       "   - Vulcan returned $61 million to shareholders through dividends during the third quarter, marking a 6% increase compared to the previous year.\n",
       "   - Capital expenditures for the year are expected to range between $625 and $650 million for maintenance and growth projects.\n",
       "\n",
       "These developments reflect Vulcan's strategic focus on growth through acquisitions and operational efficiency, despite challenges posed by weather conditions.\n",
       "--\n",
       "user: Follow the plan you created to earlier. When you are done, respond to the user.</pre>\n",
       "        </details>\n",
       "        </div><div class='basic-prompt-box' style='background-color:#ffffba; margin: 0 4px;'>\n",
       "                <details>\n",
       "                    <summary>LLM Output 131 tokens</summary>\n",
       "                    <pre style='font-size: 12px; white-space: pre-wrap; word-wrap: break-word;'>Message(content=\"Vulcan Materials Company, headquartered in Birmingham, Alabama, is the largest producer of construction aggregates in the United States, dealing primarily in crushed stone, sand, and gravel. Over the past year, Vulcan's stock price has experienced fluctuations, starting at approximately $211.69 in September 2023 and reaching around $236.27 by September 2024, with notable peaks and troughs influenced by market conditions and company performance. Recently, Vulcan reported strong financial results for the third quarter of 2024, despite weather-related disruptions, and announced the acquisition of Wake Stone Corporation to expand its reach in high-growth areas in the Carolinas.\", role='assistant', tool_calls=None, function_call=None)</pre>\n",
       "                </details>\n",
       "                </div><div class='basic-renderer-box thought'><h4 class='step-header'>[18] Thought: SetNextNode</h4><pre class='step-text'>kind: set_next_node\n",
       "next_node: plan\n",
       "</pre></div><div class='basic-renderer-box action'><h4 class='step-header'>[19] Assistant</h4><pre class='step-text'>kind: assistant\n",
       "\n",
       "Vulcan Materials Company, headquartered in Birmingham, Alabama, is the largest producer of construction aggregates in the United States, dealing primarily in crushed stone, sand, and gravel. Over the past year, Vulcan's stock price has experienced fluctuations, starting at approximately $211.69 in September 2023 and reaching around $236.27 by September 2024, with notable peaks and troughs influenced by market conditions and company performance. Recently, Vulcan reported strong financial results for the third quarter of 2024, despite weather-related disruptions, and announced the acquisition of Wake Stone Corporation to expand its reach in high-growth areas in the Carolinas.</pre></div>"
      ],
      "text/plain": [
       "<IPython.core.display.HTML object>"
      ]
     },
     "metadata": {},
     "output_type": "display_data"
    }
   ],
   "source": [
    "from tapeagents.core import SetNextNode\n",
    "from tapeagents.dialog_tape import AssistantThought, ToolCalls\n",
    "from tapeagents.orchestrator import MainLoopStatus, main_loop\n",
    "from tapeagents.view import Call\n",
    "from IPython.display import clear_output\n",
    "\n",
    "system_instruction = f\"\"\"\n",
    "You will help the user to learn about financials of companies. \n",
    "For general user queries, include some info about stock price changes during the last year, as well as some general information on the company.\n",
    "Today is {today}.\n",
    "\"\"\"\n",
    "system_message = {\"role\": \"system\", \"content\": system_instruction}\n",
    "\n",
    "\n",
    "class PlanNode(Node):\n",
    "    name: str = \"plan\"\n",
    "\n",
    "    def make_prompt(self, agent, tape) -> Prompt:\n",
    "        view = agent.compute_view(tape)\n",
    "        guidance = \"Write a natural language plan on how to use tools help the user. Output a list of numbered items, like 1., 2., 3., etc.\"\n",
    "        guidance_message = {\"role\": \"user\", \"content\": guidance}\n",
    "        return Prompt(\n",
    "            messages=[system_message] + view_to_messages(view.top, agent) + [guidance_message],\n",
    "            tools=main_agent_env.get_tool_schema_dicts(),\n",
    "        )\n",
    "\n",
    "    def generate_steps(self, agent, dialog, llm_stream: LLMStream):\n",
    "        if content := llm_stream.get_output().content:\n",
    "            yield AssistantThought(content=content)\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "class ActNode(Node):\n",
    "    name: str = \"act\"\n",
    "\n",
    "    def make_prompt(self, agent, tape: DialogTape) -> Prompt:\n",
    "        view = agent.compute_view(tape)\n",
    "        guidance = \"Follow the plan you created to earlier. When you are done, respond to the user.\"\n",
    "        guidance_message = {\"role\": \"user\", \"content\": guidance}\n",
    "        return Prompt(\n",
    "            messages=[system_message] + view_to_messages(view.top, agent) + [guidance_message],\n",
    "            tools=main_agent_env.get_tool_schema_dicts(),\n",
    "        )\n",
    "\n",
    "    def generate_steps(self, agent, dialog, llm_stream: LLMStream):\n",
    "        o = llm_stream.get_output()\n",
    "        if o.content:\n",
    "            yield SetNextNode(next_node=\"plan\")\n",
    "            yield AssistantStep(content=o.content)\n",
    "        elif o.tool_calls:\n",
    "            yield SetNextNode(next_node=\"act\")\n",
    "            # only keep the tool calls before the call to another agent\n",
    "            agent_call = None\n",
    "            for i, tc in enumerate(o.tool_calls):\n",
    "                if tc.function.name == \"call_search_agent\":\n",
    "                    agent_call = tc\n",
    "                    o.tool_calls = o.tool_calls[:i]\n",
    "                    break\n",
    "            # either produce the ToolCalls action OR call another agent\n",
    "            if o.tool_calls:\n",
    "                yield ToolCalls.from_llm_output(o)\n",
    "            else:\n",
    "                assert agent_call and agent_call.function.name == \"call_search_agent\"\n",
    "                yield Call(agent_name=\"search_agent\", content=json.loads(agent_call.function.arguments)[\"query\"])\n",
    "\n",
    "        else:\n",
    "            raise ValueError()\n",
    "\n",
    "\n",
    "multi_agent_analyst = Agent.create(\n",
    "    name=\"analyst\",\n",
    "    subagents=[search_agent.clone()],\n",
    "    llms=LiteLLM(model_name=\"gpt-4o\", parameters={\"temperature\": 0.1}),\n",
    "    nodes=[PlanNode(), ActNode()],\n",
    ")\n",
    "\n",
    "print(\"Run the agent!\")\n",
    "start_tape = DialogTape(steps=[UserStep(content=\"Tell me about Vulcan in 3 sentences\")])\n",
    "for event in main_loop(multi_agent_analyst, start_tape, whole_env):\n",
    "    # This agent runs for a while, so we will show you a fresh render every time\n",
    "    # when the environment finishes reacting with new actions\n",
    "    if new_tape := event.agent_tape or event.env_tape:\n",
    "        clear_output()\n",
    "        display(HTML(render_tape_with_prompts(new_tape, PrettyRenderer())))\n",
    "    # Uncomment this if you want to pause after every loop\n",
    "    # if event.env_tape:\n",
    "    #     input(\"Press Enter the run the next iteration of the main loop\")\n",
    "    if event.status == MainLoopStatus.EXTERNAL_INPUT_NEEDED:\n",
    "        break\n"
   ]
  },
  {
   "cell_type": "markdown",
   "metadata": {},
   "source": [
    "Look at this rather long tape and note how \"analyst\" calls \"search_agent\", and how the latter then responds to \"analyst\". Congratulations, you now know how to build a multi-agent TapeAgent!"
   ]
  }
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