Donald Trump administration accused China-linked entities of carrying out large-scale theft of U.S. artificial intelligence technology, warning of stronger enforcement measures against what it describes as unauthorized “distillation” of frontier AI models.
Sen. Josh Hawley (R-Mo) has urged fellow Republicans to reject financial contributions from pro-artificial intelligence (AI) groups, citing potential political repercussions if Congress fails to rein in Big Tech.
Transportation Secretary Sean Duffy has touted the revamped Air Traffic Control system in the U.S. aviation sector, sharing that the Donald Trump administration was retiring dated technology amid its modernization program.
Florida authorities launched a high-stakes criminal probe into OpenAI, examining whether its chatbot ChatGPT played any role in last year’s deadly shooting at Florida State University.
Anthropic is moving closer to restoring ties with the U.S. Department of Defense after President Donald Trump said the artificial intelligence company was improving its standing with his administration, raising the prospect that the Pentagon could revisit its ban.
Earnings Snapshot
Intel Corp. (NASDAQ:INTC) reported quarterly earnings of 29 cents per share, which blew past the analyst consensus estimate of one cent. Revenue came in at $13.58 billion, which beat the Street estimate of $12.42 billion.
SAP SE (NYSE:SAP) reported quarterly earnings of $2.01 per share, which beat the consensus estimate of $1.92 by 4.69%. Revenue came in at $11.19 billion, which just missed the Street estimate of $11.26 billion.
Tesla Inc (NASDAQ:TSLA) reported first-quarter revenue of $22.39 billion, up 16% year-over-year. The revenue missed a Street consensus estimate of $22.71 billion. Adjusted earnings per share of 41 cents beat a Street consensus estimate of 37 cents per share.
International Business Machines Corp. (NYSE:IBM) reported quarterly earnings of $1.91 per share, which beat analyst estimates of $1.81 by 5.52%. Quarterly revenue of $15.92 billion beat the consensus estimate of $15.62 billion.
Nokia Corp. (NYSE:NOK) reported net sales of $5.26 billion (EUR 4.5 billion), up 4% year over year, but missed Benzinga’s estimates of $5.40 billion. EPS came at $0.06, missing estimates by 3% but increasing 67% year-on-year.
QuantumScape Corp. (NASDAQ:QS) reported quarterly losses of 16 cents per share, which beat the consensus estimate for a loss of 18 cents.
ServiceNow Inc. (NYSE:NOW) posted first-quarter revenue of approximately $3.77 billion, beating the consensus estimate of $3.74 billion. Adjusted EPS of 97 cents for the quarter, narrowly beating analyst estimates of 96 cents.
Lam Research Corp. (NASDAQ:LRCX) reported quarterly earnings of $1.47 per share, which beat the Street consensus estimate of $1.36. Revenue clocked in at $5.84 billion, which beat the analyst estimate of $5.78 billion.
Texas Instruments Inc (NASDAQ:TXN) reported first-quarter revenue of $4.83 billion, beating analyst estimates of $4.53 billion. Earnings of $1.68 per share, beating analyst estimates of $1.37 per share.
Software & Semiconductor
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) signaled it will delay adopting the chip equipment maker’s most advanced tools, raising fresh concerns about demand visibility.
NVIDIA Corp. (NASDAQ:NVDA) has rolled out OpenAI’s Codex coding agent across its global workforce, with CEO Jensen Huang hailing the move as a milestone in “the age of AI,” while OpenAI CEO Sam Altman said early company-wide testing “was awesome.”
Oklo Inc. (NYSE:OKLO) penned an agreement with NVIDIA and Los Alamos National Laboratory to advance nuclear fuel validation.
Marvell Technology Inc. (NASDAQ:MRVL) is expanding its AI and data center strategy through acquisitions, partnerships, and strong analyst-backed growth tied to rising cloud demand.
Microsoft Corp. (NASDAQ:MSFT) had been reportedly eyeing AI coding startup Cursor before SpaceX made headlines with its $60 billion acquisition option of the company.
Microsoft is revamping its gaming strategy to boost value and better compete, focusing on pricing and content changes to re-engage users.
ASML Holding N.V. (NASDAQ:ASML) concluded its Annual General Meeting, approving a final dividend of EUR 2.70 ($3.16) per ordinary share and authorizing the repurchase of up to 10% of its outstanding share capital.
Oracle (NYSE:ORCL) expanded its AI capabilities with Alphabet Inc. (NASDAQ:GOOG) Google Cloud.
Alphabet Inc’s (NASDAQ:GOOGL)(NASDAQ:GOOG) Google is sharpening its AI hardware strategy by redesigning its chips to improve efficiency and compete directly with rivals like NVIDIA, even as it continues to rely on the chip leader’s ecosystem.
Palantir Technologies Inc. (NASDAQ:PLTR) announced a significant partnership with the U.S. Department of Agriculture (USDA) to enhance support for farmers.
Fintech & Bitcoin
Robinhood Markets, Inc. (NASDAQ:HOOD) advanced its Asia-Pacific expansion strategy with a regulatory milestone in Singapore.
ALT5 Sigma (NASDAQ:ALTS) announced a non-binding memorandum of understanding with Nano Labs Ltd (NASDAQ:NA), indicating a potential partnership in AI-native technologies.
Broadline Retail & Media
Alibaba Group Holding Limited (NYSE:BABA) is rolling out new features and branding changes to strengthen its AI platform and boost user engagement across its apps.
Amazon.com, Inc. (NASDAQ:AMZN) is expanding its partnership with Meta Platforms, Inc. (NASDAQ:META) to deploy AWS Graviton processors at scale.
Meta told U.S.-based employees it will begin collecting mouse activity and keystrokes on work systems to help train its artificial intelligence models as it builds agents meant to carry out tasks on their own.
Netflix, Inc. (NASDAQ:NFLX) approved a fresh $25 billion repurchase authorization, adding to an earlier program announced in December 2024.
Automobile, Aerospace & Defense
Pony AI Inc. (NASDAQ:PONY) outlined new steps to advance the commercialization of its Level 4 autonomous driving technology.
Tesla Inc. (NASDAQ:TSLA) has begun ramping up production of the Cybercab, in line with CEO Elon Musk‘s original production timeline for the driverless vehicle.
Tesla sales fell by 24.3% in the first quarter of 2026 in California, illustrating a wider pullback in EV demand in the state.
Elon Musk confirmed that vehicles equipped with Tesla’s Hardware 3 (HW3) chip would not achieve Unsupervised Full Self-Driving (FSD).
Xpeng Inc. (NYSE:XPEV) is targeting volume production of its flying cars next year, as well as scaling its humanoid robot efforts.
Uber Technologies (NYSE:UBER) expanded its collaboration with Block, Inc. (NYSE:SQ) to enhance restaurant operations and payment flexibility.
General Motors Co. (NYSE:GM) will reportedly suspend development efforts of its next-generation EV pickup truck as the U.S. auto sector scales back on all-electric mobility.
Social Media & Artificial Intelligence
Elon Musk’s SpaceX has warned that ongoing investigations into its affiliate xAI could result in legal action, financial liabilities and even loss of access to certain international markets.
Alphabet is deepening its push into AI infrastructure with new custom chips, as competition with NVIDIA intensifies.
Anthropic is reportedly on a hiring spree to secure European data center deals.
Tencent Holding Ltd. (OTC:TCEHY) and Alibaba Group Holding Limited (NYSE:BABA) (NYSE:BABAF) are in talks to invest in DeepSeek, as the fast-rising company explores its first-ever external funding round at a valuation that could exceed $20 billion.
Robinhood Ventures Fund I (NYSE:RVI) announced a $75 million investment in OpenAI, calling it one of the “frontier” AI companies and framing the deal as one of RVI’s largest investments to date.
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