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Intelligence for the New World Economy
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The World at a Glance
Updated 5:52pm EST
1
US President Donald Trump said he wanted a role in picking Iran’s next leader, further muddying Washington’s war motives.
2The US and Gulf are hoping for Ukrainian interceptors to help fend off Iranian attacks, prompting Kyiv to suggest a weapons exchange.
3Nvidia has stopped making its China-bound AI chips, the Financial Times reported, as Beijing pushes for tech self-sufficiency.
4China surpassed the US to become the world’s billionaire capital, largely owing to the AI boom, an annual report showed.
5Washington is reportedly in talks to arm Iraqi Kurdish militias, hoping they will help overthrow Iran’s leadership.
6The US-Israel-Iran war is disrupting the flow of energy globally, with Beijing suspending oil exports, and Europe facing another energy crisis.
Daines says his stunning exit was designed to avoid ‘a very expensive’ race
The Montana Republican sat down with Semafor to talk about the backstory behind his sudden, field-clearing retirement from Congress.
Elizabeth Frantz/ReutersThe war in Iran is reminding Wall Street that the Gulf remains a volatile place
Wall Street spent the past few years rushing into the Middle East, and now finds itself in a nice house in a rough neighborhood.
Raghed Waked/ReutersAmericans see thwarting nuclear weapons as top US priority
Eight in 10 Americans say that preventing the spread of nuclear weapons is a “very important” US foreign policy objective.
The nuclear “football.” Kevin Lamarque/Reuters Bessent privately signals reservations with White House-backed housing bill
The Treasury Secretary told House Republicans the party should seek to pass its own housing affordability legislation.
Kevin Lamarque/Reuters Big Tech pledges to cover AI data center power costs
Executives from Amazon, Google, Meta, Microsoft, xAI, Oracle, and OpenAI signed a “ratepayer protection pledge.”
Jonathan Ernst/File Photo/ReutersAnthropic’s investors don’t have its back in its fight with the Pentagon
Some of Silicon Valley’s biggest players are staying silent.
Reuters/Noah BergerRepublican senators pray Trump pushes Paxton out of the Texas Senate race
If the state attorney general faces Democrat James Talarico, it “becomes more expensive, and it’s at-risk,” the former NRSC chair said.
Jose Angel Juarez/Reuters
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Politics
Nathan Howard/ReutersElizabeth Frantz/Reuters 
Elizabeth Frantz/Reuters
Trump wants to help pick next Iran leader
US President Donald Trump said he wanted a role in picking Iran’s next leader, further muddying Washington’s war motives.
Nathan Howard/ReutersDaines says his stunning exit was designed to avoid ‘a very expensive’ race
The Montana Republican sat down with Semafor to talk about the backstory behind his sudden, field-clearing retirement from Congress.
Elizabeth Frantz/Reuters‘Hallelujah’: Noem’s ouster a long time coming for Trump allies
The president replaced his Homeland Security chief on Thursday after a long string of missteps and controversies.
Elizabeth Frantz/ReutersAmericans see thwarting nuclear weapons as top US priority
Eight in 10 Americans say that preventing the spread of nuclear weapons is a “very important” US foreign policy objective.
Bessent privately signals reservations with White House-backed housing bill
The Treasury Secretary told House Republicans the party should seek to pass its own housing affordability legislation.
Daines’ surprise withdrawal shakes up Montana
The Montana Republican unexpectedly dropped his reelection bid on Wednesday night.
Republican senators pray Trump pushes Paxton out of the Texas Senate race
If the state attorney general faces Democrat James Talarico, it “becomes more expensive, and it’s at-risk,” the former NRSC chair said.
Peace sells
The lack of any real presidential persuasion effort for Operation Epic Fury has been surreal.
How Third Way’s president plans to avoid the Biden fate in 2028
The centrist Democratic group’s chief spoke to Semafor about how to steer the party toward a candidate who’ll govern and campaign the same way.
Anthropic’s investors don’t have its back in its fight with the Pentagon
Some of Silicon Valley’s biggest players are staying silent.
Wall Street bristles over Senate housing proposal
Firms are particularly concerned about a requirement that institutional investors sell any rental homes they build to individuals within seven years.
Business
Scott Olson/Getty Images
Companies largely quiet over insider trading on prediction markets
Semafor reached out to more than 100 companies, law firms, banks, PR shops, and hedge funds, and found that few had explicit rules around prediction markets.
Scott Olson/Getty ImagesRevolut’s push for US banking license signals fintechs are warming to regulation
The payments company follows PayPal, which applied for a slimmed-down state banking license in December, and the UK’s Wise.
The war in Iran is reminding Wall Street that the Gulf remains a volatile place
Wall Street spent the past few years rushing into the Middle East, and now finds itself in a nice house in a rough neighborhood.
China expected to lower economic growth targets
Beijing is expected to push for a growth target of between 4.5-5% — its lowest on record.
US dollar surges amid MidEast conflict
The dollar surged as the war in the Middle East panicked investors and stoked US inflation fears.
Technology
Steve Marcus/Reuters
US Navy/Handout via Reuters
Nvidia stops making China-bound AI chips: Report
Nvidia has stopped making its H200 chips intended for the Chinese market, the Financial Times reported.
Steve Marcus/ReutersUS military is using Claude in Iran amid Anthropic feud
The Pentagon deployed the powerful tool during its attack on Iran within hours of banning it, and is reportedly still using it.
US Navy/Handout via ReutersSam Altman pledges OpenAI deference to government amid Anthropic rift
Altman’s worldview hinges on the belief that “a democratically elected government” usurps “unelected private companies.”
AI chatbots show hawkish tendencies in war simulations
In simulated international crises, chatbots demonstrated self-awareness, an ability to model opponents’ thinking, and a tendency toward escalation.
The rise of AI agents is jamming up security firms
For firms managing security for businesses, hospitals, and banks, identifying AI is no longer enough, now that AI agents handle more private tasks on behalf of humans.
A new lawsuit claims Gemini assisted in suicide
Federal complaint alleges Google designed chatbot for ‘emotional dependency’
Energy
Maxim Shemetov/ReutersJonathan Ernst/File Photo/Reuters 
Valentyn Ogirenko/Reuters
China announces new climate targets in 5-year plan
The plan reaffirmed China’s conviction to “fully implement” the UN’s climate convention and the Paris Agreement.
Maxim Shemetov/ReutersBig Tech pledges to cover AI data center power costs
Executives from Amazon, Google, Meta, Microsoft, xAI, Oracle, and OpenAI signed a “ratepayer protection pledge.”
Jonathan Ernst/File Photo/ReutersMideast should look to Kyiv for energy defense lessons
Ukraine has the most experience in both managing an onslaught against its power plants, and finding ways to strike its adversary’s energy infrastructure.
Valentyn Ogirenko/ReutersGulf
Amr Alfiky/Reuters
US, Gulf look to Ukraine for help against Iran attacks
The Pentagon is reportedly looking to buy Ukraine’s cheap drone interceptors to ward off Iranian strikes.
Amr Alfiky/ReutersThe Gulf is still dealmaking, for now
Sovereign funds are still doing global deals but attracting money to the Gulf will slow down, at least for now.
Qatar’s industrial base hit by suspension of LNG production
QatarEnergy has also halted output of downstream products such as methanol, polymers, and urea, prompting local industrial groups to suspend operations.
Qatar makes first aerial combat kill
Qatari fighter jets shot down two Iranian Su-24 bombers headed toward Al-Udeid Air Base on Monday
US says it is ‘accelerating’ Iran attacks
The US said it was intensifying its military campaign against Iran, as the scope of the conflict widened.
Africa
Sodiq Adelakun/Reuters
Karim Sahib/Pool/File Photo/Reuters
Iran conflict leaves African nations exposed
Many African nations will be impacted by surging energy prices, threats to remittances, and air travel chaos from the conflict in the Gulf.
Sodiq Adelakun/ReutersMiddle East crisis risks upending burgeoning Gulf-Africa ties
African governments have increasingly relied on Gulf nations — over Washington or Beijing — as sources of capital.
Karim Sahib/Pool/File Photo/ReutersAfrican markets brace for inflation amid Middle East crisis
African financial markets have been hit by foreign investors selling off assets as they flee perceived risk and retreat to the dollar, weakening local currencies.
DR Congo’s Rawbank inks $265M deal
The country’s largest bank by assets hopes to boost its balance sheet for lending to small and medium-sized businesses.
Senegal PM threatens to withdraw his party from government
It marks an escalation in an ongoing power struggle between the president and the prime minister.
Nigeria’s foreign reserves jump by 772%
The government has removed a fixed peg for the naira currency, while the central bank has resolved a backlog of forex obligations.
Security
Stringer/Reuters
Aftermath of a strike in Tehran. Majid Asgaripour/WANA via ReutersUS Navy/Handout via Reuters
Iraqi Kurdish militias in talks with Washington over Iran
Washington is reportedly mulling arming the Iraqi Kurdish militias in order to help overthrow Iran’s leadership.
Stringer/ReutersUS takes control of Iran’s airspace as war expands
NATO forces intercepted a missile in Turkey and Azerbaijan accused Tehran of firing a drone at its biggest airport.
Aftermath of a strike in Tehran. Majid Asgaripour/WANA via ReutersUS military is using Claude in Iran amid Anthropic feud
The Pentagon deployed the powerful tool during its attack on Iran within hours of banning it, and is reportedly still using it.
US Navy/Handout via ReutersMedia
Michel Porro/Getty Images
It’s bots vs. reporters at the AP
The tensions inside the wire service reveal a broader conflict playing out across the media over how AI should be applied within journalism.
Michel Porro/Getty ImagesA new CBS News emerges amid Iran crisis
The joint Israeli and American attacks on Iran were the first major test of the new CBS News right-leaning and pro-Israel editorial leadership.
Netflix walks away from $83B Warner Bros. takeover
Paramount’s David Ellison gets the media property he has long wanted. Netflix, having swung and missed at its first big M&A deal, now has to reassure investors that its business is fine.
BBC News CEO who resigned over edit of Trump speech rejects charge of ‘institutional bias’
In her first interview since she left the BBC, Deborah Turness said at Semafor’s Restoring Trust in Media summit that it was her choice to resign.
FCC Chair Brendan Carr praises Bari Weiss’ CBS
“I think they’re doing a great job,” Carr said at Semafor’s Restoring Trust in Media event Wednesday.
CEO Signal
Courtesy of Pearson/Joey Pfeifer/Semafor
Courtesy of Affirm/Joey Pfeifer/Semafor
US Soccer’s goal for the 2026 World Cup
CEO JT Batson says the tournament is forcing brands to see the value of the sport’s fans.
Pearson’s pitch for company bosses to become AI chief education officers
CEO Omar Abbosh says a new approach to skills is needed for companies to get the most from humans and technology.
Courtesy of Pearson/Joey Pfeifer/SemaforAffirm’s Max Levchin on how market sci-fi stories line up with AI reality
The PayPal co-founder values speculative visions of the future, even if investors overreacted to them this week.
Courtesy of Affirm/Joey Pfeifer/SemaforAD