The U.S. and Iran are engaged in direct military conflict for a second consecutive day, with retaliatory strikes and threats of further escalation from President Trump. Backchannel negotiations are ongoing but stalled, with significant disagreements over key demands like control of the Strait of Hormuz.
SpaceX is set to launch the largest IPO in history, raising $75 billion at a valuation over $1.75 trillion, based on a pitch of creating orbital data centers. Concurrently, the AI sector faces a potential price war as OpenAI considers drastic price cuts to compete with Anthropic, threatening the profitability of major players.
Washington is facing several points of contention, including a critical deadline to extend the Foreign Intelligence Surveillance Act (FISA) and a high-profile, closed-door hearing with Bill Gates over his connections to Jeffrey Epstein. These events highlight deep partisan divisions and scrutiny over intelligence gathering and the conduct of public figures.
A 4.2% year-over-year increase in the Consumer Price Index, the largest in over three years, is a major economic concern. This environment of heightened economic sensitivity is reflected in market reactions, such as Oracle's stock dropping significantly after reporting high capital expenditures, indicating that investors are closely scrutinizing corporate spending and profitability, especially in the AI sector.
Keep pulling the thread on United States.