US-China Summit & Geopolitics

$46BSoftBank Vision Fund gain

Nvidia CEO Jensen Huang joining President Trump's China delegation at the last minute signals the summit's intense focus on AI and tech, even as Trump's broader trade ambitions appear to shrink.

Nvidia CEO Jensen Huang unexpectedly joined President Trump's delegation to China, boarding Air Force One in Alaska after a last-minute invitation, underscoring the critical role of AI and tech in the high-stakes talks with President Xi Jinping. New York Times CNBC The Guardian
President Trump's ambitions for a harsher trade stance against China have reportedly shrunk since he took office, with the current summit aiming to stabilize ties rather than impose aggressive new measures. New York Times New York Times
President Xi Jinping is expected to press Trump on issues like arms sales to Taiwan and tariffs during the summit, while the ongoing Iran conflict looms over the discussions. Al Jazeera Al Jazeera
Dr. Marty Makary, President Trump's FDA Commissioner, resigned after weeks of pressure, reportedly due to his private opposition to the administration's decision to approve flavored vapes. New York Times
European leaders are increasingly willing to publicly criticize the Trump administration over the fallout from the Iran war, refusing to back down even when angered by the US president. New York Times

AI & Tech Legal Battles

Sam Altman's testimony against Elon Musk reveals the deep ideological rift at OpenAI's founding, with Musk allegedly wanting personal control over the AI's future.

OpenAI CEO Sam Altman testified in court that Elon Musk had a "hair-raising" idea of passing control of OpenAI to his children and repeatedly sought total control of the company, which Altman said was incompatible with OpenAI's mission to keep advanced AI out of a single person's hands. Wired TechCrunch BBC
Altman also stated he never promised Musk that OpenAI would remain a nonprofit, rejecting claims he deceived Musk by restructuring the company into a for-profit enterprise. The Guardian NPR CNBC
SoftBank reported a $46 billion gain in its Vision Fund, largely driven by the significant increase in value of its investment in OpenAI. CNBC
A lawsuit alleges a teen died after ChatGPT recommended a deadly mix of drugs, with logs showing the teen asked the AI for help to "safely" experiment with substances. Ars Technica

AI & Cybersecurity Developments

As AI-powered cyberattacks escalate, new funding and government briefings highlight the urgent race to develop AI defenses and understand the technology's national security implications.

Cybersecurity startup Exaforce raised $125 million in Series B funding, valuing the company at $725 million, to develop AI for real-time detection and prevention of cyberattacks, responding to the increasing weaponization of AI by malicious actors. TechCrunch
Anthropic will brief the House Homeland Security Committee in a closed-door meeting on its Mythos cybersecurity model, addressing growing concerns in Washington about AI's safety risks and national security implications. The Hill
Google announced a range of free upgrades for Android phones, including a new Gemini Intelligence AI system and a tool to help users avoid distracting apps, with a new lineup of laptops also expected in the autumn. The Guardian
The latest "Patch Tuesday" revealed that AI platforms are proving highly effective at finding security vulnerabilities in human-made code, prompting major software makers like Apple, Google, Microsoft, Mozilla, and Oracle to fix near-record volumes of bugs. KrebsOnSecurity

Tech Innovation & Privacy

From orbital data centers to redesigned smartphones, tech companies are pushing boundaries, but the rise of smart glasses and facial recognition raises new alarms about privacy.

Google and SpaceX are reportedly in talks to build data centers in orbit, exploring space as a future location for AI compute despite current costs being significantly higher than on Earth. TechCrunch
Waymo issued a software recall for all 3,800 of its robotaxis after a glitch caused some vehicles to drive into standing water during a San Antonio flood, highlighting a safety issue with autonomous fleets. San Antonio Express-News
Sony unveiled its new Xperia 1 VIII phone, featuring a significant redesign with a chunky square camera island and an AI camera assistant, marking a departure from its predecessors' aesthetics. The Verge
Despite growing privacy concerns, major tech firms are poised to sell millions of smart glasses, while live facial recognition systems are increasingly being adopted by retailers and police, expanding surveillance into more public spaces. BBC The Guardian
Former Tesla executive and Heron Power CEO Drew Baglino has founded a new heat pump startup called Sadi Thermal Machines, his second venture since leaving Tesla in 2024. TechCrunch

Markets & Business Outlook

As inflation jumps due to war-driven energy costs, Wall Street analysts are raising S&P 500 targets, suggesting the market has already priced in major risks.

Morgan Stanley has raised its S&P 500 target, with analyst Mike Wilson suggesting the market has already factored in the biggest risks, even as investors await another April inflation report. MarketWatch CNBC
Inflation jumped as war-driven energy costs pushed up prices, leading investors to take a cautious approach as the economic effects of the conflict become more apparent. New York Times
Qualcomm stock dropped 11%, signaling a pullback in chip stocks from their recent AI-driven rally, though the broader AI trade has shown signs of broadening beyond Nvidia. CNBC
Bayer AG reported better-than-expected first-quarter profit, driven by a strong performance in its crop science unit, particularly from soybean seeds and traits. Financial Post

Quick Shots

🗳️ A Democratic primary winner in Nebraska plans to drop out to support an independent candidate in the general election, aiming to clear the path for Dan Osborn. The Guardian
🇬🇧 Prime Minister Keir Starmer is battling a leadership crisis after heavy election losses triggered a Labour revolt, with his position in No 10 under intense scrutiny. BBC
🎬 Filmmaker Brett Ratner, known for Rush Hour, joined President Trump's China trip to scout locations for Rush Hour 4, despite his past #MeToo allegations. The Guardian
🇨🇺 President Trump called Cuba a "failed nation" as his administration expands its pressure campaign amid a deepening fuel crisis on the island. Al Jazeera
🇲🇽 Mexico and the CIA have rejected a report alleging US assassination campaigns against cartels, following claims that the CIA directly participated in deadly anti-cartel operations. Al Jazeera

Wednesday, May 13, 2026