Enters

• The House passed legislation on Friday to fund the Department of Homeland Security for 60 days at current levels through May 22, extending funding for all agencies including Immigration and Customs Enforcement. • The measure cleared the House 213–203, with three Democrats voting alongside Republicans, automatically passing once the rule was adopted without a separate floor vote. • Senate Democrats rejected the House GOP proposal as "dead on arrival," having already passed their own bipartisan bill that excluded ICE and parts of Customs and Border Protection funding.

• The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn. • Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war. • The S&P 500 has suffered five consecutive weeks of losses—its longest losing streak in nearly four years—and is now 8.7% below its record set in early 2026.

• Major companies—Amazon, Google, Meta, Microsoft, Oracle, OpenAI, and xAI—signed a federal pledge to provide their own electricity for AI data centers, shielding U.S. consumers from grid overload. • The commitment responds to exploding energy needs from AI infrastructure, following Meta's Louisiana gas plant initiative and similar efforts nationwide. • Industry leaders aim to prevent rate hikes and blackouts while fueling the AI boom central to U.S. tech competitiveness.

• ARM unveiled its first proprietary AGI CPU for AI data centers, shifting from licensing designs to manufacturing its own silicon. • Early adopters include Meta, OpenAI, Cloudflare, and Cerebras, positioning ARM directly in the AI infrastructure market. • This move underscores the intensifying competition in AI hardware, where control over end-to-end production is becoming critical for major players.

Lawmakers say moratorium on construction would buy time to create strong, federal guardrails for AIAmid an unprecedented energy crisis and the rapid buildout of artificial intelligence infrastructure, progressive lawmakers have unveiled a new policy to place a moratorium on the construction of AI datacenters.The policy, announced by Bernie Sanders, an independent senator from Vermont, and Alexandria Ocasio-Cortez, a New York Democratic representative, on Wednesday morning, aims to ensure the AI boom protects the environment and communities, and benefits workers instead of harming them. A temporary ban, the lawmakers say, would give the US government time to create strong federal safeguards for AI, which is “affecting everything from our economy and wellbeing to our democracy, warfare and our kids’ education”. Continue reading...

The result in Slovenia will relieve EU diplomats and means the incumbent will lead exploratory talks to form the next governmentMeanwhile, Italian prime minister Giorgia Meloni has urged Italians to take part in the referendum on the government’s proposals to shake up the organisation of the justice system.On her social media accounts, she posted a picture posing with a ballot paper, and said:“Ready to vote. Remember: you have until 3 PM today to get to the polls. Participation is important.” Continue reading...

• The United States hosts nearly 5,500 data centers and accounts for three-quarters of the world's computing power as of May 2025, providing a substantial advantage over China in the global AI race according to EpochAI research. • America's semiconductor superiority remains the primary AI advantage, with Nvidia chips significantly outperforming China's most powerful Huawei-produced chips in both processing power and bandwidth memory, and the performance gap will increase substantially in coming years. • ByteDance plans to invest $23 billion this year on AI infrastructure including chips, while US companies are coordinating with the White House to secure additional grid capacity for data centers to prevent consumer price hikes.