Banger paper from Stanford, Together AI, and colleagues. Why is this an interesting paper? Today's LLM agents must write out every reasoning step as text before they can search, run code, or take action. Those steps cost tokens and can take time. This paper proposes Hybrid Reasoning Agents, which reason internally in latent space and switch to text only to call a tool or give an answer. A small module called HybridLink moves the model between the two modes, and a working memory keeps both…