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Semafor Recommends
The late Kaija Saariaho’s opera Innocence at New York’s Metropolitan Opera follows the aftermath of a school shooting in Helsinki.
Alex Perry’s Blood Will Flow recounts the 2021 Battle of Palma in Mozambique, where Islamic State fighters killed civilians and trapped TotalEnergies contractors inside their compounds.
Bomber by the Irish-British writer Len Deighton follows pilots, ground crew, and civilians through an RAF raid on an industrial town in 1943.
Thirteen Perfect Fugitives recounts the world’s largest art heist, as told by the FBI agent, Geoffrey Kelly, who investigated the case.
Cutting Through Rocks, by Mohammadreza Eyni and Sara Khaki, was the first Iranian documentary nominated for an Oscar.
Trump digs Powell in deeper at Fed
The president on Thursday put his weight behind the probe into the Fed chair.
Brendan McDermid/Reuters Senate prepares for a long weekend slog
“We will get DHS funded. We’re going to be here until that happens,” said Sen. Bernie Moreno, R-Ohio. “We’re dug in, baby.”
Evan Vucci/Reuters Bondi’s play to defuse an Epstein subpoena partly pays off
Three of the five Republicans who voted to question her under oath are still unconvinced, but two are showing signs of wavering.
Nathan Howard/ReutersWhy 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 South Africa mulls M&A reform in quest for 5G investment
MTN CEO Mupita urges regulators to drop early mobile era rules based on headcount competition.
Ralph Mupita, CEO of MTN. Lluis Gene/AFP via Getty Images.Debatable: Will Russia’s luck last?
The Iran war temporarily benefits Moscow, but there’s disagreement over what it means for the Kremlin long-term.
Sputnik/Vyacheslav Prokofyev/Pool via ReutersCollins wants bipartisan Iran spending bill
Some Republicans don’t want to use the party-line budget reconciliation process to deliver war funding.
Kylie Cooper/Reuters
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Politics
Kaylee Greenlee/Reuters
Brian Snyder/ReutersSputnik/Vyacheslav Prokofyev/Pool via Reuters
Paxton PAC buys more anti-Cornyn ads for Mar-A-Lago
The Texas Senate hopeful is spending for an audience of one: President Donald Trump.
Kaylee Greenlee/ReutersSenate Democrats square off with each other in ‘spicy primaries’
The days of Democratic party leadership picking winners is over.
Brian Snyder/ReutersDebatable: Will Russia’s luck last?
The Iran war temporarily benefits Moscow, but there’s disagreement over what it means for the Kremlin long-term.
Sputnik/Vyacheslav Prokofyev/Pool via ReutersTrump digs Powell in deeper at Fed
The president on Thursday put his weight behind the probe into the Fed chair.
Senate prepares for a long weekend slog
“We will get DHS funded. We’re going to be here until that happens,” said Sen. Bernie Moreno, R-Ohio. “We’re dug in, baby.”
Strain evident in Trump-Takaichi White House meeting
Trump’s joke, comparing the US’ surprise strikes on Iran to Japan’s 1941 attack on Pearl Harbor, elicited an awkward reaction from Takaichi.
Treasury eyes lifting sanctions on Iranian oil
The Trump administration has been desperate to rein in oil prices.
Collins wants bipartisan Iran spending bill
Some Republicans don’t want to use the party-line budget reconciliation process to deliver war funding.
Bondi’s play to defuse an Epstein subpoena partly pays off
Three of the five Republicans who voted to question her under oath are still unconvinced, but two are showing signs of wavering.
US banking regulators set to ease capital requirements
US banking regulators are expected to vote this morning on their latest attempt to overhaul capital requirements following years of intense lobbying.
FHFA chief teases new housing policy
Bill Pulte said to expect the new policy in “the next week or two.”
BusinessCourtesy of IonQ/Joey Pfeifer/Semafor
Why 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 Gold, other metals fall as Iran war roils commodities
The selloff hit copper and palladium, joining gold and silver, which have fallen since the war began.
Central banks raise the inflation alarm
Central bankers in major economies are voicing concerns about the risk of inflation stemming from the war in Iran.
Wall Street’s dealmakers face a temperature check
Can the animal spirits survive growing fears of an economic slowdown, higher inflation, war, and continued global chaos?
The world’s biggest economy is in uncharted territory
If America was a company, it would be a “lifestyle business.”
Technology
Microsoft Vice Chair Brad Smith and OpenAI CEO Sam Altman. Jonathan Ernst/Reuters.
Randi Weingarten speaking at Semafor’s State of Happiness event. Kris Tripplaar/Semafor.
Microsoft’s options to rein in OpenAI
Why is exclusivity so important to Microsoft?
Microsoft Vice Chair Brad Smith and OpenAI CEO Sam Altman. Jonathan Ernst/Reuters.Conservative group, teacher’s union team up on chatbots
The issue of children having access to chatbots is uniting even the unlikeliest of groups.
Randi Weingarten speaking at Semafor’s State of Happiness event. Kris Tripplaar/Semafor.California bill aims to help vibe coders
The so-called Blocking Anticompetitive Self-preferencing by Entrenched Dominant Platforms Act (BASED Act) goes after big tech companies that are stomping on young startups.
Chatbots are learning from Reddit and LinkedIn
Turns out what the growing class of LinkedInfluencers say sort of matters.
Nvidia’s ‘Claw Bar’ was a pricey wakeup call
One of the hottest (literally) events at Nvidia’s big conference this year was the “Claw Bar.”
The US has a scientific breakthrough problem
Virtual reality was a dead end for Meta, but not because Zuckerberg’s vision of the future is wrong.
Energy
Vasily Fedosenko/Reuters
Tingshu Wang/Reuters
Yoruk Isik/File Photo/Reuters
Russia benefits from Iran war’s oil shocks
Washington last week lifted sanctions on Russian oil that was already in tankers.
Vasily Fedosenko/ReutersGlobal clean technology investment triples over 7 years
Global investment in clean technology hit record levels last year, though growth slowed significantly.
Tingshu Wang/ReutersKyiv worries Moscow sanctions could crumble
Ukraine’s top sanctions adviser told Semafor that the Trump administration’s decision last week to waive sanctions on some Russian oil tankers came as a surprise.
Yoruk Isik/File Photo/ReutersGulf
Amr Alfiky/Reuters
In the Iran war, the Gulf’s shock absorber is still oil
Diversification may have made Gulf economies broader, but oil and the wealth it has helped generate still matter most in this war.
Amr Alfiky/ReutersThis is the moment for an ‘Arab NATO’
Calls for collective defense are resurfacing, but the obstacles that stalled them before haven’t gone away.
Gulf banks prepared for mass withdrawals, for now
Regional banks have about $312 billion in cash or at central banks to cover outflows, with no end in sight for the Middle East conflict.
Saudi Arabia touts ‘capabilities’ in warning to Iran
While the Gulf’s defense-first policy stands, Riyadh condemned Iran’s attacks on energy facilities, ports, airports, and cities.
The risk-off sentiment in Gulf data centers may be overblown
More geographic diversity is the likely outcome, rather than abandonment of the region.
Africa
Pius Utomi Ekpei/AFP via Getty Images
Scott Peterson/Getty Images
Nigeria faces Iran war oil price conundrum
Rising oil prices are good for Africa’s top crude producer on a macroeconomic level but higher refined fuel prices will be felt at the pump.
Pius Utomi Ekpei/AFP via Getty ImagesSurge in happiness across Africa driven by youth satisfaction
Congo Brazzaville, Niger, and Togo have seen a rise in youth happiness in recent years, according to Gallup’s 2026 World Happiness Report.
Scott Peterson/Getty ImagesAfrican government borrowing set to hit $155B in 2026
The forecasts are roughly 11% higher than last year, largely driven by persistent fiscal pressures, S&P Global Ratings said.
US Energy Sec derides funding for Africa’s green energy projects
The Trump administration is doubling down on its bid to reverse the Biden-era drive to champion clean energy projects across Africa.
Nigeria secures $1B ports financing deal with UK
The deal to revitalize the congested Apapa and Tin Can Island ports was the highlight of President Bola Tinubu’s state visit to the UK.
Republican bill calls for US to open financial system to Somaliland
Rep. John Rose’s bill won’t formally recognize the breakaway region but bringing it into the US financial system might be the next best thing.
Security
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Omar Sanadiki/Reuters
DVIDS/Handout via Reuters
Israel kills Iran intel chief
Esmail Khatib’s death came within 24 hours of Israeli strikes taking out Iran’s security chief and the head of its feared paramilitary force.
Majid Asgaripour/WANA (West Asia News Agency) via ReutersIsrael kills powerful Iran security chief
Ali Larijani ran Iran’s national security council and was seen as the country’s de facto leader after the former ayatollah was assassinated.
Omar Sanadiki/ReutersIran’s asymmetric warfare challenges US
The US is confronting its limitations in dealing with Iran’s asymmetric warfare, analysts argued.
DVIDS/Handout via ReutersMedia
Gary Miller/FilmMagic
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.
Gary Miller/FilmMagicWhy (and how) everyone is cold-calling the president
Plus, what happened when Semafor’s Max Tani gave him a ring.
Oscars mask a Hollywood in crisis
As Hollywood celebrates the Oscars on Sunday, the glitz masks a deeper crisis for the entertainment industry: rising production costs.
AI is the latest gatekeeper between brands and buyers
Companies are now writing ad copy for bots, not people, and those bots are telling consumers what products to buy.
Hasan Piker on streaming all day, his relationship with Zohran Mamdani, and the lefty media machine
Since 2018, Hasan Piker has gone from streaming alone in his bedroom to becoming one of North America’s most influential leftist creators.
CEO SignalCourtesy of IonQ/Joey Pfeifer/Semafor 
Courtesy of Starbucks/Joey Pfeifer/Semafor
Courtesy of BETA/Joey Pfeifer/Semafor
Why 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 How Brian Niccol jolted Starbucks back to growth
Corporate turnarounds require quick decisions and ‘brutal’ feedback for the CEO, Niccol said in the first episode of Semafor’s ‘CEO Signal’ show.
Courtesy of Starbucks/Joey Pfeifer/SemaforHow Kyle Clark got BETA’s air taxis ready for takeoff
The electric aircraft company’s CEO has a ‘burn-the-boats’ approach to decision-making.
Courtesy of BETA/Joey Pfeifer/SemaforAD