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Markets turned risk-off as AI jitters hit tech names: the S&P 500 and Dow slipped while the Nasdaq fell hardest on heavy AI-capex and data-center funding worries. Bitcoin traded near $86k amid crypto regulation headlines. Oil spiked on Venezuela blockade threats, and central-bank decisions from the BoE and ECB provided the next catalysts.
Micron stunned markets with blowout results and an upbeat forecast, sending shares sharply higher across Europe. Management warned memory shortages will persist, underpinning elevated pricing and capex dynamics for the sector.
57% – Micron’s reported Q1 sales jump year-over-year, highlighting surging memory demand from AI workloads.
BP made an abrupt leadership change, installing Meg O’Neill as CEO after Murray Auchincloss’s short tenure. The move raises strategic questions as investors watch whether the reshuffle accelerates M&A or restructuring plans.
Washington approved a major arms package for Taiwan amid rising cross-strait tensions, a move likely to further strain U.S.-China relations. The deal includes rockets, howitzers and drones to bolster Taipei’s asymmetric defenses.
Hut 8 surges as AI deal seals data-center lifeline
Hut 8 jumped after securing an AI partnership and a long-term data-center lease backed by major cloud players, signaling fresh revenue stability for a former miner pivoting to AI infrastructure.
More on theblock.co
President Trump ordered a blockade on Venezuelan oil tankers, intensifying pressure on the Maduro regime and raising oil-market uncertainty. Analysts warn a blockade could devastate Venezuela’s fragile economy and roil global crude flows.
Warner Bros. Discovery is urging shareholders to reject Paramount’s hostile bid and back Netflix, deepening a high-stakes takeover fight. The studio has also demanded personal guarantees from bidders amid concerns over financing and process integrity.
Executives charged in $1bn Tricolor fraud — Corporate collapse deepens
Federal prosecutors indicted top executives at bankrupt subprime lender Tricolor over an alleged nearly $1bn fraud, a blow to creditors and a stark warning on securitized auto finance risks.
More on nytimes.com
Oracle is facing fresh investor scrutiny after reports its $10 billion data-center funding deal is stalled, sending its stock lower. The episode highlights wider market anxiety over spiraling debt tied to AI data-center buildouts.
Regulators are probing grocery platforms as AI pricing tools spread across food delivery and e-commerce. Meanwhile, incumbents are integrating with OpenAI to embed shopping workflows into chat interfaces, reshaping last-mile retail.
Bank of England set to cut rates as U.K. inflation cools; Fed withdrew restrictive 2023 guidance limiting bank crypto experiments; California enacts 2026 laws banning plastic bags and expanding consumer controls over chatbots; California DMV moves to curb misleading EV marketing.
Coinbase is broadening its product set to include stock trading and Kalshi-powered prediction markets in a bid to become an “everything exchange.” The expansion marks a major push to diversify revenue beyond crypto-only trading.
OpenAI is reported to be exploring a massive capital raise while large tech buyers weigh multibillion-dollar investments. Amazon has held talks about a multibillion-dollar stake as cloud and chip ties deepen between Big Tech and AI labs.
Keeping up with frontier AI will cost ‘hundreds of billions’ over the next decade.
— Mustafa Suleyman, Microsoft AI CEO
A Reuters probe and other sources say Chinese teams have built prototypes to close the gap on EUV lithography, fueling Western fears of accelerating chip self-reliance. The developments could reshape geopolitics around semiconductor supply chains.
The Bank of England is widely expected to cut interest rates as inflation cools, a move that would mark a policy pivot ahead of year-end. Markets are pricing in relief for borrowers but a fresh test for the pound and gilt markets.
The European Central Bank is expected to hold policy as the euro‑area economy shows resilience, keeping markets focused on forward guidance. Investors weigh growth data against lingering inflation and fiscal risks across the bloc.
Bitcoin and crypto markets are trading nervously ahead of U.S. inflation data amid volatility in AI‑linked equities. At the same time, regulators are tightening custody expectations for broker‑dealers handling crypto assets.
Medline executed the largest U.S. IPO since 2021, with shares jumping on debut and underscoring investor appetite for stable healthcare assets. The breakout illustrates a market still receptive to non-AI, cash-flowing offerings.
AI worries roiled markets as tech names plunged, knocking major indices lower. The selloff underscores how sentiment around data-center financing and AI sustainability can rapidly flip from euphoria to risk-off.
California regulators have put Tesla on notice over Autopilot marketing, threatening a sales suspension if the company doesn’t change its advertising. The standoff could create a regulatory precedent for how driver-assist tech is marketed nationwide.
Indian exporters are feeling the bite from U.S. tariffs and New Delhi is accelerating free-trade deals to diversify markets. The policy shift reflects a broader trade realignment as countries seek alternatives to U.S. and Chinese market pressures.
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