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Saudi’s $100 billion electronics fund removes head, drops chip ambitions
View / As Republicans embrace AI in campaigning, Democrats bet on a backlash
The World at a Glance
Updated 6:44pm EDT
1
Greece will seek a ban on kids using social media, amid rising global scrutiny of its effects on young people.
2The ceasefire between the US, Iran, and Israel appeared shaky hours after it went into effect.
3US stocks soared on investors’ relief over a tenuous Iran ceasefire, following a familiar pattern.
4Israel’s leader said the Iran ceasefire was not the ‘end of the war,’ setting the stage for further hostilities in the region.
5China reportedly played a behind-the-scenes role in pushing for the US-Israel-Iran ceasefire.
6The US Army is building its own chatbot for soldiers, the latest sign of the Pentagon’s embrace of AI.
Democrats to force Iran vote next week
On Thursday morning, House Democrats will try to unanimously constrain the president’s war powers, a move Republicans will almost certainly block.
Annabelle Gordon/ReutersIran, US agree to two-week ceasefire
The countries are to hold talks this week on cementing the truce, even though permanent peace appears elusive.
Majid Asgaripour/WANA/ReutersWhat Sharpton wants to hear from 2028’s Democratic contenders
The civil rights advocate talked to Semafor about what he plans to press for when he sits down with nine potential presidential hopefuls this week.
Kevin Lamarque/ReutersRepublicans weigh how big to go on immigration funding
Some Republican senators want to fund the entire Department of Homeland Security for three years to avoid another shutdown.
Kylie Cooper/Reuters Trump backs off threat to annihilate Iran
The president announced a two-week ceasefire, contingent on Iran’s “COMPLETE” reopening of the Strait of Hormuz.
Jonathan Ernst/ReutersAfreximbank unveils $10B support plan for Africa to ease Iran war impact
The move was announced hours before the US and Iran agreed a two-week ceasefire conditioned on the reopening of the Strait of Hormuz.
Rogan Ward/ReutersGulf conferences at risk from Iran war
While Gulf states have been building tentpole conferences to draw global money, the war in Iran is threatening those gatherings.
The 2024 Qatar Economic Forum. Qatar News Agency/Handout via Reuters.AD
Politics
Aftermath of an Israeli strike in Beirut. Yara Nardi/Reuters
Norlys Perez/ReutersAnnabelle Gordon/Reuters
Iran truce already in doubt
Iran targeted a Saudi oil pipeline hours after the truce took effect and accused the US of violating the agreement.
Aftermath of an Israeli strike in Beirut. Yara Nardi/ReutersTrump administration expected to keep waiving Russian oil sanctions as Iran call looms
Doing so would reinforce a second-term shift in how economic pressure gets applied.
Norlys Perez/ReutersDemocrats to force Iran vote next week
On Thursday morning, House Democrats will try to unanimously constrain the president’s war powers, a move Republicans will almost certainly block.
Annabelle Gordon/ReutersAs Republicans embrace AI in campaigning, Democrats bet on a backlash
Republicans are very comfortable using AI for almost anything in politics, and they’ll say so.
What Sharpton wants to hear from 2028’s Democratic contenders
The civil rights advocate talked to Semafor about what he plans to press for when he sits down with nine potential presidential hopefuls this week.
Fewer in US, Canada see good job opportunities, report finds
Just 47% of people living in the US and Canada say it’s a good time to find a job in their city or area.
Trump agrees to suspend Iran attacks for two weeks
US President Donald Trump on Tuesday agreed to suspend attacks on Iran for two weeks, subject to Tehran reopening the Strait of Hormuz.
Trump backs off threat to annihilate Iran
The president announced a two-week ceasefire, contingent on Iran’s “COMPLETE” reopening of the Strait of Hormuz.
Allies remain reliant on the US, even is distrust is growing
Efforts from so-called middle powers to develop a new world order could take years.
Republicans weigh how big to go on immigration funding
Some Republican senators want to fund the entire Department of Homeland Security for three years to avoid another shutdown.
Iran rejects US ceasefire proposal as Trump renews threats
Trump said the “entire country can be taken out in one night” if the Islamic Republic doesn’t agree to reopen the Strait of Hormuz by Tuesday evening.
Business
Ludovic Marin/AFP via Getty Images
Anthropic says Mythos model too powerful for release
Mythos exposed thousands of software vulnerabilities in common applications for which no fix exists, the company said.
Ludovic Marin/AFP via Getty ImagesUS stocks rally in familiar pattern
US stocks soared Wednesday on investors’ relief over a tenuous Iran ceasefire.
Indian business delegation visits China in sign of bilateral thaw
The trip last week focused on EV charging and battery storage.
More airlines cut flights, raise costs
More airlines are cutting flights and raising costs as jet fuel prices surge because of the Iran war.
Global hedge funds respond to war shocks
Global hedge funds, pressured by the conflict in Iran, are shaking up their trading strategies.
Technology
Louiza Vradi/ReutersLudovic Marin/AFP via Getty Images
Greece plans to ban social media for kids
The prime minister cited rising anxiety and sleep problems as reasons for the under-15 ban.
Louiza Vradi/ReutersAnthropic says Mythos model too powerful for release
Mythos exposed thousands of software vulnerabilities in common applications for which no fix exists, the company said.
Ludovic Marin/AFP via Getty ImagesThe US Army is developing its own chatbot
The US Army is building its own chatbot for soldiers, the latest sign of the Pentagon’s embrace of AI.
Why OpenAI’s slowdown isn’t as bad as it looks
Is OpenAI cooked? Absolutely not.
AI research foundation releases test that will warn when AGI arrives
The ARC-AGI-3 test presents game-like puzzles the AI must work out on the fly, and a researcher behind it said even top AI models score below 1%.
Data-center proponents targeted by shooter
A person fired 13 shots at the home of an Indianapolis city councillor after he advocated for data center construction.
Energy
Simon Johnson/Reuters
Fayaz Aziz/Reuters
Kuwait Petroleum Corporation/Handout via Reuters
Iran war strengthens case for green hydrogen
The effective closure of the Strait of Hormuz has boosted interest in green hydrogen, as fossil fuel prices soar.
Simon Johnson/ReutersParis Agreement target off the table, report says
Rising electricity demand and strong oil markets in Asia, Africa, and the Middle East are making it harder for emissions to decrease.
Fayaz Aziz/ReutersOil climbs again as Trump reiterates Iran threats
Both Tehran and Washington rejected a 10-point peace plan put forward by Pakistan and other meditators, sending oil to more than $110 a barrel.
Kuwait Petroleum Corporation/Handout via ReutersGulf
Amit Midha. Courtesy of Future Investment Initiative
Saudi’s $100 billion electronics fund removes head, drops chip ambitions
Public Investment Fund executive takes over to refocus Alat’s efforts on data centers.
Amit Midha. Courtesy of Future Investment InitiativeGulf countries push nationals to take private sector jobs
Saudi Arabia and the UAE have intensified efforts to move their citizens into the private sector.
Türkiye’s chance to take on the Gulf as a haven for business
President Recep Tayyip Erdoğan said this week the country could become regional base for multinational companies and a trade hub.
Gulf stocks surge and oil falls after ceasefire deal
Dubai’s benchmark index rose more than 6% as real estate stocks rebounded and Abu Dhabi’s was up around 3% on Wednesday.
Hormuz closure turns truckers into logistics saviors
UAE’s TruKKer has had a front-row seat to the Strait of Hormuz closure.
Africa
Sodiq Adelakun/Reuters
A woman participates in this year’s Lagos Fanti Carnival parade. Sodiq Adelakun/Reuters.
Africa begins to feel economic pain of Iran war
The World Bank has cut its 2026 estimate for growth in sub-Saharan Africa by 0.3 percentage points.
Sodiq Adelakun/ReutersLagos celebrates Afro-Brazilian legacy through carnival
Many formerly enslaved Africans who migrated back to Nigeria settled in Lagos, bringing new traditions to the city.
A woman participates in this year’s Lagos Fanti Carnival parade. Sodiq Adelakun/Reuters.Ghana hands major gold mine to local operator
The move will be placing a major industrial asset in domestic hands for the first time in the country’s modern mining industry.
Zambia-Lobito rail link to cost up to $5 billion
Construction of the railway to connect Zambia’s copper mines with the Lobito port in Angola is set to begin this year, according to a new report.
Afreximbank unveils $10B support plan for Africa to ease Iran war impact
The move was announced hours before the US and Iran agreed a two-week ceasefire conditioned on the reopening of the Strait of Hormuz.
Dangote refinery increases exports amid Iran war supply shocks
Efforts to shore up fuel availability come as other African countries build up their refining capacity to safeguard against future disruptions.
Security
Ronen Zvulun/Reuters
HMS Prince of Wales. UK MOD Crown/May Luke/Handout via Reuters.
Majid Asgaripour/WANA via Reuters
Israel’s Netanyahu says Iran ceasefire is not ‘end of the war’
Israel believes its war aims are incomplete, potentially setting the stage for further hostilities amid a shaky truce with Iran.
Ronen Zvulun/ReutersUK Navy deploys anti-drone weapons amid global scramble
The DragonFire system can target 400 mph drones and comes five years ahead of schedule.
HMS Prince of Wales. UK MOD Crown/May Luke/Handout via Reuters.US targets pillars of Iran economy
Widespread attacks on Tuesday hit Iran’s railroads, bridges, and its energy hub.
Majid Asgaripour/WANA via ReutersMedia
Jim Watson/AFP via Getty Images
Maryland’s biggest newspaper is going after the governor’s 2028 campaign
The owner of Maryland’s biggest paper and TV stations is keeping close tabs on his outlet’s investigation of Gov. Wes Moore.
Jim Watson/AFP via Getty Images Joanna Stern on how AI told her to quit The Wall Street Journal
“It felt like the one big decision where I actually did trust AI,” she told Semafor’s “Mixed Signals” podcast.
Biden vet launches biweekly streaming show
Rob Flaherty and Jesse Lehrich will launch Nobody Knows Anything, a 90-minute biweekly show, later this month.
Axel Springer’s Döpfner courts UK conservative elites
The German mogul is courting regulators and the country’s influential conservative political figures as he attempts to get his bid to buy the Telegraph approved.
Substack rival Beehiiv makes a push into podcasting
Beehiiv has privately been reaching out to independent podcasters on Substack and other platforms.
CEO Signal
Courtesy of GSK/Joey Pfeifer/Semafor
Courtesy of Okta/Joey Pfeifer/Semafor
Courtesy of JLL/Joey Pfeifer/Semafor
Emma Walmsley on leading and leaving GSK
What does it take to hand over a company after years at the helm?
Courtesy of GSK/Joey Pfeifer/SemaforThe three questions a CEO should ask about their AI agents
Okta’s Todd McKinnon sees a digital workforce creating new vulnerabilities.
Courtesy of Okta/Joey Pfeifer/SemaforWhy JLL is betting its biggest clients will drive growth in ‘crazy’ times
Christian Ulbrich says companies succeed by reducing complexity for their clients.
Courtesy of JLL/Joey Pfeifer/SemaforAD