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Trump is breaking the Turnberry deal over cars. Semiconductors are next in line.

The Turnberry Agreement was supposed to be the floor. Signed at Donald Trump’s golf resort in Scotland last July, the deal between the United States and the European Union set a 15 per cent tariff ceiling on nearly all EU goods entering America, including cars, car parts, semiconductors, and pharmaceutical products. In exchange, the EU […]

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The question nobody asked Zuckerberg

Mark Zuckerberg’s earnings call on Wednesday was about AI. It was about the $125 billion to $145 billion Meta plans to spend on capital expenditure in 2026. It was about Llama models and recommendation engines and the advertising systems that generate $56 billion in quarterly revenue. It was not about children. No investor asked Zuckerberg […]

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Nebius paid $643 million for 20 people because inference is where the money is

Nebius Group, the Dutch cloud computing company that split from Russian internet provider Yandex in 2024, has agreed to acquire Eigen AI for approximately $643 million in stock and cash. The deal, announced on 1 May, is for a 20-person startup founded by alumni of MIT’s HAN Lab. In a market where the largest AI […]

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Seven AI companies signed the Pentagon’s terms. The one that refused is worth $900 billion.

The Pentagon announced on 1 May that it has signed agreements with Nvidia, Microsoft, Amazon Web Services, and Reflection AI for expanded use of advanced artificial intelligence on classified military networks. The deals bring the total number of companies with such agreements to seven, following similar arrangements with SpaceX, OpenAI, and Google, which signed its own […]

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Seven AI companies signed the Pentagon’s terms. The one that refused is worth $900 billion. Read More »

The venture fund that spent $4.6 billion in a year just raised $6 billion more

Founders Fund, the venture capital firm co-founded by Peter Thiel, closed a $6 billion growth fund on 1 May, its largest ever and its fourth dedicated late-stage vehicle. The majority of the capital, $4.5 billion, came from limited partners including sovereign wealth funds. The remaining $1.5 billion came from the firm’s own partners and employees, […]

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Reddit Q1 revenue jumps 69% to $663m, and shares rally 9%

The social platform beat Wall Street estimates across every line, raised Q2 guidance above consensus, and reported $1m in capital expenditure, a striking contrast to the hyperscaler capex arms race. Reddit reported first-quarter 2026 revenue of $663 million, up 69% year on year and 8.5% above the $611 million Wall Street consensus, in earnings released […]

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The US government and the AI industry are both betting on debt. They are drawing from the same pool.

The United States government now owes more than the country produces. Data released by the Bureau of Economic Analysis on 30 April showed that debt held by the public stood at $31.27 trillion at the end of March, while nominal GDP over the preceding 12 months was $31.22 trillion, pushing the ratio to 100.2 per […]

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Zuckerberg tells Meta employees the layoffs are about capex, not AI productivity

At a Thursday town hall, the Meta CEO made the explicit trade-off he had previously left implicit: ‘We basically have two major cost centres in the company: compute infrastructure and people-oriented things.’ The chief people officer also declined to rule out additional layoffs Meta CEO Mark Zuckerberg attributed the company’s upcoming layoffs to its rising […]

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OpenAI-backed 1X opens California factory targeting 10,000 home humanoid robots in year one

The Norway-founded company’s vertically integrated NEO factory in Hayward marks the first US-scale push to put a general-purpose humanoid robot into private homes, with shipments planned this year and a competitive field that is already crowded 1X Technologies has opened a 58,000-square-foot manufacturing facility in Hayward, California, to produce its NEO humanoid robot at consumer […]

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Meta cancelled the contract with the people who saw what its glasses see

In February 2026, workers at Sama, a Nairobi-based outsourcing company contracted by Meta, told Swedish newspapers Svenska Dagbladet and Göteborgs-Posten that they had been reviewing footage captured by users of Meta’s Ray-Ban smart glasses. The footage included people having sex, going to the toilet, undressing, and handling bank details. The workers’ job was to label […]

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