Nvidia is nearing a $300 million investment in Lambda Labs cloud compute service, building on its prior $100M stake in CoreWeave.

President Trump announced that Iran has told the U.S. it will keep the Strait of Hormuz toll-free, covering insurance fees and charges, as shipping plans and UN evacuation preparations remain in motion. The U.S. and Iran are trading competing claims on the Strait of Hormuz while operational stakes remain high and the UN and shipping industry prepare for potential disruptions as Hormuz transit and evacuation plans evolve. U.S. gasoline prices have dropped for the sixth straight week, with an 11% decline as Hormuz risk shifts. U.S. energy and oil markets are moving with Hormuz headlines and political pressure, with Trump calling for a DOJ probe into petrol price gouging as crude slides and oil tanker flows show how quickly risks can translate into real cargo reroutes.

Global markets steadied after a sharp tech-led selloff as investors weighed whether AI spending is worth the price and whether rate expectations will stay elevated. The S&P 500 and Nasdaq moved near key intraday levels with volatility elevated, while traders rotated cautiously across sectors. Micron's earnings became a focal catalyst for semiconductors, and markets are reacting to a fast-moving chip reset as broader AI-driven semis volatility intensifies, keeping investors in a constant re-pricing cycle. U.S. financial conditions and rate expectations are being stress-tested as officials push different messages on inflation and growth, setting up a fragile market backdrop for equities and credit.

The House and Senate advanced major U.S. housing legislation aimed at increasing supply and lowering costs, while U.S. courts again constrained aspects of immigration enforcement by ruling on limits around databases and deportation procedures. The EU is pushing forward with tax simplification and a clearer digital payments framework while regulators continue tightening oversight around AI and data security. Microsoft said Copilot-supported activity helped disrupt cybercrime tools, signaling AI can be deployed as a defensive force rather than only a productivity enhancer, though cybercrime and AI are colliding in two directions as private and public investigators face credential and data breach fallout. Tech and AI regulation is accelerating on multiple fronts, from privacy and employee tracking to enforcement planning and new oversight tools.

Corporate dealmaking and competition are heating up in telecom and AI infrastructure as Qualcomm moves to buy Modular for an AI push and Alphabet joins the Dow, shifting the index world. A blockbuster nuclear financing push is under way as the U.S. moves to support reactor development while facing the question of whether it can meet rapidly rising data-center demand. European defense stocks are taking a hit after Germany scraps or scales back major warship plans, sharply altering the outlook for contractors tied to procurement cycles. Chinese regulators are tightening access to overseas investing through derivatives, while also detaining Japanese nationals over alleged rare-earth smuggling, both moves underscoring increased scrutiny around cross-border capital and critical minerals.

A deadly rail crash in Bedfordshire is being linked to a signal passed at danger, with investigators saying the train passed a danger signal moments before the crash, leaving the driver dead and raising new questions about braking and the functioning of the warning system. Climate and extreme heat are escalating into operational crises across Europe, prompting power disruptions and school closures and turning weather into a direct economic and grid risk. Protein, food safety, and regulation are intersecting as companies face pressure from dyes in confectionery to potential product recalls, highlighting compliance risk across consumer staples. Political momentum is shifting inside the U.S. as Mamdani-backed candidates win key New York primaries, raising the stakes for party direction ahead of the fall. Treasury Secretary Scott Bessent stated, "We can have GDP growth above 3% before the end of the year."