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Pick your poison in the AI apocalypse
View/ Washington courts African minerals giants as resource race escalates
The World at a Glance
Updated 5:37pm EST
1
Iran’s top diplomat is visiting Turkey for talks aimed at averting a US strike, as President Donald Trump ramps up threats of military action against Tehran.
2US tech stocks slumped after earnings reports raised questions about how long it will take for aggressive AI spending to pay off.
3AstraZeneca will invest $15 billion in China through 2030, the British pharmaceutical giant announced during the UK prime minister’s visit to Beijing.
4Tesla CEO Elon Musk said that the EV giant will stop making its Model S and X vehicles, and use a California factory to build humanoids instead.
5Russia is looking to hike taxes, as a slowdown in its defense and energy sectors weighs on the country’s war economy.
6The French government will stop using US-made videoconferencing software, part of a wider European move toward self-reliance.
US plans ‘drawdown’ of ICE agents in Minneapolis
Trump’s border czar said immigration operations in Minneapolis would become “safer.”
Tim Evans/ReutersDemocratic demands harden as shutdown impasse grows over DHS
The White House and Hill Republicans are showing flexibility after two US citizens were killed in Minneapolis, but a deal by Friday will be difficult.
Annabelle Gordon/ReutersExclusive / Top Trump dealmaker Michael Grimes returns to Silicon Valley
Commerce Secretary Howard Lutnick has been recruiting from Wall Street banks and private-equity firms to bulk up the investment arm Grimes ran.
From left: Michael Grimes, Linda Yaccarino, X CEO, and Claudio Madrazo. Leigh Vogel/Getty Images for Uber, X and The Free Press.Washington Post’s White House team tries to avert layoffs in letter to Bezos
The effort from the Post’s White House reporters comes as staffers are scrambling to preserve their jobs ahead of impending layoffs.
Matt McClain/The Washington Post via Getty ImagesAD
Top House Democrat probes oil firms over Venezuela
California Rep. Robert Garcia is asking oil firms for more information following the Trump administration’s initial sale of Venezuelan crude.
Annabelle Gordon/Reuters Moreno makes final health care offer to Democrats
The Ohio Republican is pitching a one-year extension of enhanced premium tax credits that expired last year, with some limits.
Kevin Mohatt/ReutersUS withdrawal from multiple UN agencies raises alarm in Kenya
Nairobi is the organization’s largest hub in the Global South.
James Wakibia/SOPA Images/LightRocket via Getty Images
Politics
Nathan Howard/ReutersAnnabelle Gordon/Reuters 
Brendan McDermid/Reuters
Democrats strike deal with White House on government funding
The deal faces uncertainty in the House, which will need to approve it after it passes the Senate.
Nathan Howard/ReutersTop House Democrat probes oil firms over Venezuela
California Rep. Robert Garcia is asking oil firms for more information following the Trump administration’s initial sale of Venezuelan crude.
Annabelle Gordon/Reuters Powell, Trump find rare common ground on US economy
“The economy has once again surprised us with its strength,” the Fed chair said.
Brendan McDermid/Reuters Democrat’s bill would let people sue ICE over misconduct
It’ll be a nonstarter for the Republicans, but will demonstrates the scale of change Democrats now believe is needed.
Democratic demands harden as shutdown impasse grows over DHS
The White House and Hill Republicans are showing flexibility after two US citizens were killed in Minneapolis, but a deal by Friday will be difficult.
US Federal Reserve holds interest rates steady
Despite intensifying pressure from US President Donald Trump to lower borrowing costs, the Fed signaled it isn’t in a rush to trim rates given low layoffs and steady economic growth.
Moreno makes final health care offer to Democrats
The Ohio Republican is pitching a one-year extension of enhanced premium tax credits that expired last year, with some limits.
Tester on Democrats’ chances: ‘Horrible’ message but a winning hand
The former Montana senator spoke with Semafor for a wide-ranging interview about his own political future, ICE funding, and more.
US hurdles toward shutdown fueled by immigration fight
Government funding runs out Friday night.
Rubio to defend Venezuela operation to Congress
The crux of Rubio’s message: The capture of Nicolás Maduro “was an operation to aid law enforcement.”
Trump immigration enforcement under siege from Hill Republicans
From occasional critics of the president to conservative gun-rights advocates, the party is speaking up after Alex Pretti’s death.
Business
Denis Balibouse/Reuters
Pick your poison in the AI apocalypse
While CEOs from the likes of Anthropic and Robinhood debate AI doomsday scenarios, the new technology faces systemic risk across the board.
Denis Balibouse/ReutersWall Street lines up behind ‘Trump Accounts’
Big US banks are embracing the president’s self-branded retirement accounts for children.
Top Trump administration dealmaker Michael Grimes returns to Silicon Valley
Commerce Secretary Howard Lutnick has been recruiting from Wall Street banks and private-equity firms to bulk up the investment arm Grimes ran.
China’s luxury market set to rebound following plummeting sales
European fashion houses hope that the reprieve will help to up sales, as brands have become heavily reliant on the country’s giant market.
Chinese airlines cancel all flights to Japan as tensions worsen
China was angered by Japan’s suggestion that Tokyo could get involved in a conflict over Taiwan, which Beijing claims as a renegade province.
Technology
Nir Elias/Reuters
NASA, ESA, David O’Ryan (ESA), Pablo Gómez (ESA), Mahdi Zamani (ESA/Hubble)
Anduril launches new drone racing competition
The winner receives a top prize of $500,000 and a job at the defense tech company.
Nir Elias/ReutersEuropean Space Agency uses AI to identify NASA’s Hubble telescope anomalies
The team at the European Space Agency developed a neural network called AnomalyMatch, which analyzes patterns in images and detects unusual objects.
NASA, ESA, David O’Ryan (ESA), Pablo Gómez (ESA), Mahdi Zamani (ESA/Hubble)Data center buildout spurs new laser development
The massive scale of the AI buildout is making new kinds of hardware innovation feasible, like Lightmatter’s new laser.
US court to hear landmark tech addiction case
A 20-year-old woman is suing YouTube and Meta — TikTok and Snapchat settled with her out of court — alleging they designed their platforms to be addictive.
AI changes shape of foreign investment flows
Declining appetite for infrastructure and a slowdown in renewables investments were partly supplanted by the capital poured into data centers and semiconductors.
Anthropic CEO Amodei warns of AI’s fast-coming changes
Dario Amodei’s 19,000-word essay warned against both “doomerism” about AI and dismissiveness of its risks.
Energy
Angus Mordant/Reuters
TransAlta/Handout via Reuters
Jim Urquhart/Reuters
Fossil fuel M&A centers on small number of firms, report says
The top 20 acquirers in the last 10 years accounted for 53% of total deal value, research by the consulting firm Bain & Co found.
Angus Mordant/ReutersCanadian battery manufacturer announces major advancements in storage capacity
NEO Battery Materials said in a release first shared with Semafor that its drone batteries achieved a 50% capacity improvement over similar products made by competitors.
TransAlta/Handout via ReutersGlobal energy investment hits record high in 2025
Global spending on the energy transition reached $2.3 trillion last year, according to BloombergNEF.
Jim Urquhart/ReutersGulf
Emilie Madi/Reuters
Dubai billionaire Al Habtoor leaves Lebanon, blames government for $1.7B in losses
The billionaire’s real estate conglomerate has invested more than $1 billion sinc 2001 across Lebanon’s hospitality, retail, leisure, real estate, and finance sectors.
Emilie Madi/ReutersDubai real estate portal Property Finder raises $170M in new financing
The portal that has now raised nearly $1 billion in equity and debt financing from a host of blue-chip backers, including Mubadala, Blackstone, and HSBC.
Visa splits Middle East operations
The kingdom brought in a rule in 2024 that any company wanting to bid for government contracts would have to set up their regional headquarters there.
Dubai to invest $27B in expansion of financial district
The UAE city is doubling down on efforts to fend off regional rivals trying to dethrone it as the Gulf’s top financial hub.
AI changes shape of foreign investment flows
Declining appetite for infrastructure and a slowdown in renewables investments were partly supplanted by the capital poured into data centers and semiconductors.
Africa
Olympia de Maismont/AFP via Getty Images
Junior Kannah/AFP via Getty Images
Ghana slashes interest rates following economic turnaround
Consumer inflation has fallen by almost 90% since 2023 in the West African nation, which for years faced soaring prices and cooling growth.
Olympia de Maismont/AFP via Getty ImagesUS courts African minerals giants as China rivalry escalates
The summit marks the White House’s latest attempt to build a counterweight to China’s dominance of African mineral supply chains.
Junior Kannah/AFP via Getty ImagesNigeria to try military officers accused of planning coup last year
The trial caps months of concerns about security in Africa’s largest democracy after a series of military takeovers in neighboring nations in recent years.
Zimbabwe inflation drops to single digits for first time in decades
Authorities hailed it as a “historic milestone” after decades marred by hyperinflation and currency collapse.
Zambia unlocks more IMF funds following debt overhaul
The completion of the IMF program underscores huge progress by the southern African nation in restructuring $13 billion worth of debt.
African debt repayments to Beijing overtake new Chinese loans
The shift illustrates Beijing’s changing relationship with the continent, now more focused on investments than loans.
Security
Issei Kato/File Photo/Reuters
Majid Asgaripour/WANA via Reuters
Stringer/Reuters
Chinese tourism to Japan plummets following Taiwan spat
Beijing urged its citizens not to travel to Japan after its prime minister said her country may support Taiwan militarily.
Issei Kato/File Photo/ReutersThreat of US strike on Iran appears to wane
Officials reportedly advised US President Donald Trump that an attack would be unlikely to topple the government.
Majid Asgaripour/WANA via ReutersDefense stocks surge on rising calls for militarization
Donald Trump’s calls for a more than 50% increase to his country’s military budget have lifted the valuations of domestic arms firms.
Stringer/ReutersMediaMatt McClain/The Washington Post via Getty Images
Washington Post’s White House team tries to avert layoffs in letter to Bezos
The effort from the Post’s White House reporters comes as staffers are scrambling to preserve their jobs ahead of impending layoffs.
Matt McClain/The Washington Post via Getty ImagesRumors of staffing cuts spook Washington Post newsroom
Feared potential targets for cuts include the sports and international desks.
“We’re not trying to recreate social media”: How Minnesota’s Star Tribune navigates a local crisis
The publication tries to offer a sober alternative to a social media swarm as a deadly shooting deepens the crisis in Minneapolis.
Freakonomics’ Stephen Dubner on why long-form podcasting isn’t dead yet
Stephen Dubner has spent 20 years proving that things aren’t what they seem—and now he’s not so sure that’s always true.
Streaming giants push filmmakers to adapt to ‘double screening’
Viewers are increasingly watching films and TV while also looking at their smartphones.
CEO Signal
Courtesy of Nasdaq/Joey Pfeifer/Semafor
Courtesy of Bank of America/Joey Pfeifer/Semafor
Courtesy of Suntory/Joey Pfeifer/Semafor
Nasdaq’s Adena Friedman on funding the AI ‘marathon’
The exchange CEO says adopting AI in enterprises requires “a massive change management exercise.”
Courtesy of Nasdaq/Joey Pfeifer/SemaforBank of America’s Brian Moynihan: ‘The pipelines are full’
“It’s clear you can get a deal done now,” says the long-tenured banker.
Courtesy of Bank of America/Joey Pfeifer/SemaforGreg Hughes on how Suntory plans to revive global spirits sales
The CEO behind Jim Beam and Hibiki says bold goals and learning from failure build long-term growth.
Courtesy of Suntory/Joey Pfeifer/SemaforAD