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Social media’s ‘Big Tobacco’ moment will bring more unexpected changes
View / The Iran war’s energy security legacy
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London’s Victoria & Albert Museum retraces the work of the great Italian designer in its exhibition Schiaparelli: Fashion Becomes Art.
The historian and archaeologist David Stuart in his work The Four Heavens tells the history of the Maya across three millennia.
After a successful run on the West End, Mark Rosenblatt’s Olivier Award-winning play Giant moved to Broadway.
Immanuel Wilkins Quartet’s show Live at the Village Vanguard, Vol. 1 takes the listener on a tour of jazz history.
The Museum of Youth Culture opens in May in London and aims to tell the story of Britain’s extraordinary number of youth subcultures.
Scott Brown isn’t leaving New Hampshire’s ‘weird’ Senate race
He lost the Trump endorsement. The national Republican Party wants his rival. He told Semafor he doesn’t really care.
Aleksandra Michalska/ReutersSenate reaches deal to fund most of DHS
It’s a face-saving move for two parties who’d grown tired of airport chaos and wanted to leave Washington.
Nathan Howard/ReutersSchneider Electric’s Olivier Blum on moving at the pace of Nvidia
Remaking an old industrial giant to meet new energy demands started with defining its mission.
Courtesy of Schneider Electric/Joey Pfeifer/SemaforUS antitrust officials deny improper lobbying in merger reviews
Under the settlement, Live Nation will have to divest certain venues across the US and pay states which accept the settlement roughly $200 million.
Mike Blake/ReutersHow I jailbroke an OpenClaw PR agent
It’s easy to imagine AI agents organizing events, but the tech isn’t there yet — even with human oversight.
Florence Lo/ReutersUS stocks see worst day since Iran conflict began
Markets appeared skeptical of President Donald Trump’s insistence that the Iran war will end soon.
Jeenah Moon/ReutersPro-crypto group launches midterms offensive
The offensive includes a new “voter hub” where digital assets users can learn candidates’ stances on the digital assets.
Dado Ruvic/Illustration/Reuters 
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Politics
Elizabeth Frantz/ReutersNathan Howard/Reuters Aleksandra Michalska/Reuters
Acting CFPB director huddles with congressional Republicans on agency’s future
The lawmakers told Semafor that they discussed opportunities to rein in the agency without shuttering it.
Elizabeth Frantz/ReutersSenate reaches deal to fund most of DHS
It’s a face-saving move for two parties who’d grown tired of airport chaos and wanted to leave Washington.
Nathan Howard/ReutersScott Brown isn’t leaving New Hampshire’s ‘weird’ Senate race
He lost the Trump endorsement. The national Republican Party wants his rival. He told Semafor he doesn’t really care.
Aleksandra Michalska/ReutersDebatable: Regulating prediction markets
Democrats — and a few Republicans — want to erect rules for the popular platforms.
Why Trump’s latest Iran moves may signal ground troops
Some experts read the president’s ceasefire talk as a potential head fake — albeit one with the added upside of calming markets.
Trump goes around Congress to pay TSA, raising questions
Several Republicans told Semafor that they’d been aware Trump had this option for days now.
US population growth slows amid immigration decline
Some 40% of US counties experienced a net loss in people
Trump extends deadline for Iran to open Hormuz
Donald Trump extended the pause on strikes against Iranian energy facilities.
‘Tipping point’: NFL’s streaming shift could put league’s antitrust shield at risk, FCC’s Carr says
The NFL’s move to shift live sports from broadcast channels to streaming services has become a flashpoint in Washington.
Funding vote will test GOP appetite for rebellion on Iran
House Republicans are frustrated with the vagueness they’re hearing from the Trump administration on Iran.
State Department sends $1.25B from other programs to Board of Peace
The administration is drawing on funds used for international disasters and peacekeeping to fund Trump’s Gaza effort.
Business
An oil tanker near Muscat, Oman. Benoit Tessier/File Photo/Reuters.
Iran war widens the oil-fueled petroyuan corridor
The secretive global architecture that operates outside US dollar-denominated markets is unlikely to disappear even after the fighting stops.
An oil tanker near Muscat, Oman. Benoit Tessier/File Photo/Reuters.LSEG’s David Schwimmer on activists, AI, and a global market test
The exchange operator is juggling investor expectations with the need to reshape its business model.
Schneider Electric’s Olivier Blum on moving at the pace of Nvidia
Remaking an old industrial giant to meet new energy demands started with defining its mission.
OECD forecasts Iran hit to global economy
The war in Iran is set to weigh on global growth this year, the OECD forecast, knocking the world’s economy off a path of strong expansion.
Investors retreat from oil-reliant Asian markets
Global investors are pulling a record amount of capital from Asia’s emerging-market stocks — with China a notable exception.
Technology
Sundar Pichai and Daniel Sank (R) with one of Google’s Quantum Computers in Santa Barbara. Google/Handout via Reuters.
Pentagon AI architect on the future of warfare
Semafor spoke with Drew Cukor, who dragged a reluctant defense establishment into the AI age.
Google hedges its quantum bets
This week, Google announced a major investment in what’s known as the “neutral atom,” otherwise known less scientifically as just a regular old atom.
Sundar Pichai and Daniel Sank (R) with one of Google’s Quantum Computers in Santa Barbara. Google/Handout via Reuters.How I jailbroke an OpenClaw PR agent
It’s easy to imagine AI agents organizing events, but the tech isn’t there yet — even with human oversight.
Former Tesla president’s tips on moving fast in the age of AI
Jon McNeill’s new book, “The Algorithm, “is the most important business book of the year.
Social media’s ‘Big Tobacco’ moment will bring more unexpected changes
People forget something about the Big Tobacco moment: Big Tobacco didn’t go away.
Cryptography must prepare for quantum computing, Google warns
In theory, quantum computers could break today’s encryptions instantly.
Energy
Jim Vondruska/File Photo/Reuters
Majid Asgaripour/WANA/Reuters
Eli Hartman//File Photo/Reuters
Data centers’ new strategy to reduce power crunch
Electric utilities and tech companies are ramping down their consumption at times of high demand.
Jim Vondruska/File Photo/ReutersOil prices rise as Trump’s Iran extension fails to calm markets
US Secretary of State Marco Rubio will discuss conflict de-escalation at a G7 meeting in France today.
Majid Asgaripour/WANA/ReutersThe Iran war’s energy security legacy
The war in Iran will force governments and companies to rethink the necessary conditions for energy security.
Eli Hartman//File Photo/ReutersGulf
Staff/Reuters
What a month of war has taught us in the Gulf
Operation Epic Fury has shown that Iran’s hatred towards its Arab neighbours far exceeds its hatred of Israel.
Staff/ReutersTrump extends deadline for Iran to open Hormuz
Donald Trump extended the pause on strikes against Iranian energy facilities.
Miami draws Wall Street crowd still eager to do Gulf business
Saudi’s US investment conference shows Gulf cash still attracts western finance, even if execs are holding off going back to the region.
Dubai mall hosts annual ski run in bid for normalcy
Ski Dubai said the seventh edition of the DXB Snow Run is on for Sunday, May 17.
Blackstone invests $250M in UAE firm
The move is seen as a vote of confidence in the UAE’s future as it navigates conflict with Iran.
Africa
South Africa’s President Cyril Ramaphosa. Adriano Machado/Reuters.
Simon Maina/AFP via Getty Images
South Africa walks back claims of US pressure following G7 invite snub
After Paris rescinded its invitation to Pretoria, a South African presidency spokesperson said it was “due to sustained pressure” from Washington.
South Africa’s President Cyril Ramaphosa. Adriano Machado/Reuters.Africa’s mobile money market hits $1.4 trillion
Sub-Saharan Africa accounted for about three-quarters of the $2.1 trillion global mobile money market in 2025, a GSMA report found.
Simon Maina/AFP via Getty ImagesNigeria’s Moniepoint acquires 78% stake in Kenyan microfinance bank
Moniepoint is one of Africa’s fastest-growing financial services companies.
Iran war spurs interest in African energy
Algeria agreed to increase LNG exports to Spain, and Ukraine said it would boost gas imports from Mozambique.
How the khat lobby helped reopen the Kenya-Somalia border
Trade groups behind the plant, a popular stimulant, put pressure on Kenyan authorities to end the 15-year closure.
South Africa holds rates, pushes back cuts
The central bank says energy supply shocks could delay easing as it weighs war-driven inflation risks.
Security
US Navy/Handout via Reuters
Jose Luis Gonzalez/Reuters
DVIDS/Handout via Reuters
Israel, US face shortages in Iran war
Israel’s opposition leader warned the military was “stretched to the limit and beyond,” while US arsenals have been strained by other conflicts.
US Navy/Handout via ReutersUS weighs major troop deployment to Gulf
The Wall Street Journal reported that Washington may send 10,000 ground troops to the region, likely within striking distance of Iran.
Jose Luis Gonzalez/ReutersUS sends more troops to Gulf, despite talk of Iran deal
The arrival of 2,000 more troops suggests that Trump is maintaining the option of escalating hostilities, even as he said talks with Iran were taking place.
DVIDS/Handout via ReutersMedia
Michael Lynton on the infamous Sony hack and learning from his mistakes
Former Sony CEO Michael Lynton reflects on approving The Interview and the resulting North Korea hack, discusses his new book with Josh Steiner, and critiques U.S. inaction on the TikTok ban.
‘Tipping point’: NFL’s streaming shift could put league’s antitrust shield at risk, FCC’s Carr says
The NFL’s move to shift live sports from broadcast channels to streaming services has become a flashpoint in Washington.
Vox Media tried to sell its podcasts, and itself
The company now says its podcast network is not for sale.
Newsom calls FCC chairman’s threats ‘sick’
The California governor argued people from all political perspectives should be concerned about federal regulators weighing in on news content.
Why (and how) everyone is cold-calling the president
Plus, what happened when Semafor’s Max Tani gave him a ring.
CEO Signal
Courtesy of LSEG/Joey Pfeifer/SemaforCourtesy of Schneider Electric/Joey Pfeifer/Semafor 
Courtesy of IonQ/Joey Pfeifer/Semafor
LSEG’s David Schwimmer on activists, AI, and a global market test
The exchange operator is juggling investor expectations with the need to reshape its business model.
Courtesy of LSEG/Joey Pfeifer/SemaforSchneider Electric’s Olivier Blum on moving at the pace of Nvidia
Remaking an old industrial giant to meet new energy demands started with defining its mission.
Courtesy of Schneider Electric/Joey Pfeifer/SemaforWhy CEOs should care about the quantum ‘space race’
IonQ’s Niccolo de Masi says getting quantum security right is ‘a matter of survivability.’
Courtesy of IonQ/Joey Pfeifer/Semafor AD