Nvidia CEO Jensen Huang is making a strong case that society must adapt to a world shaped by artificial intelligence. In an exclusive interview with the Associated Press conducted in Sherman, Texas, Huang acknowledged that while AI holds enormous promise — including faster economic growth and scientific breakthroughs — he has also felt the pressure to address concerns about job losses and broader risks to humanity. “We need to create new social norms,” Huang said Tuesday. “I would advocate that everybody use AI. Just go engage it.”
All eyes on Wall Street and in Washington are turning to Federal Reserve Chair Kevin Warsh as he prepares to oversee his first policy meeting since being nominated by President Trump in late January. The central question hanging over the meeting: will Warsh push to raise interest rates to fight inflation, or cut them as Trump has long preferred? Bond markets, which can react sharply to statements from the Fed chair, will be watching Wednesday’s session closely. Economists say Warsh will likely take a neutral stance, given the difficult economic environment he is stepping into.
The Trump administration is siding with Elon Musk’s artificial intelligence company xAI in a civil rights lawsuit over an unpermitted power plant in Mississippi. The NAACP and other organizations allege that xAI has been illegally operating dozens of natural gas turbines to power a $20 billion data center, posing health risks to communities in North Mississippi and the nearby Memphis area in violation of the federal Clean Air Act. The Justice Department has moved to intervene in the case and have the lawsuit thrown out, arguing the facility is “critical to the economy” and the U.S. military.
A new wave of Chinese exports is raising alarms in Europe and drawing attention at the G7 summit. Despite eight years of American tariffs on Chinese goods, China’s industrial output has not slowed — it has simply shifted direction. With U.S. markets largely closed off by tariffs, China is now sending more products than ever to Europe and parts of Asia. Analysts warn this could trigger a European version of the so-called “China Shock” that devastated manufacturing communities across the American heartland in the 2000s, wiping out hundreds of thousands of factory jobs and fueling the political discontent that helped elect Donald Trump — twice.
A fact-check is raising questions about President Trump’s claim that illegal immigration drove up car insurance premiums. Trump has been crediting his immigration crackdown for a recent drop in rates while blaming undocumented immigration under his predecessor for earlier price increases. But experts say the real driver of rising premiums was the COVID-19 pandemic, which led to riskier driving behavior and disrupted supply chains. Insurers are now cutting rates to stay competitive as their finances stabilize. Experts say there is no evidence linking illegal immigration to changes in car insurance costs.
Nvidia is making a bold bet that artificial intelligence will create — not eliminate — American manufacturing jobs. The Silicon Valley company has announced a $2 billion partnership with Coherent, centered on a Texas factory that produces materials for lasers used to improve chip performance. CEO Jensen Huang says the initiative is proof that AI can support domestic job growth. The factory is expected to generate 1,000 positions. Nvidia is also expanding its focus from chip development to full AI systems, with production based in the United States. The AI sector has drawn bipartisan support in Washington as a driver of economic growth and national security.
Pizza Hut is changing hands in a $2.7 billion deal. Parent company Yum Brands announced Tuesday that private equity firm LongRange Capital will acquire Pizza Hut’s operations outside of mainland China for roughly $1.5 billion, while Yum China Holdings Inc. is purchasing the mainland China business for approximately $1.2 billion. The 68-year-old chain has struggled to keep pace with the rise of food delivery platforms like DoorDash and Uber Eats, which connect customers to a wide variety of cuisines beyond pizza. In February, Yum Brands said it would close 250 U.S. Pizza Hut locations. The chain was founded by two brothers in 1958 in Wichita, Kansas — the name was chosen simply because the sign only had room for eight letters.
Oil prices fell below $80 per barrel for the first time since early March, as optimism surrounding a tentative U.S.-Iran agreement continued to ease energy market tensions. Meanwhile, U.S. stocks ended the day mixed. The S&P 500 slipped 0.6%, while the Dow Jones Industrial Average gained 0.6% to set another record. The Nasdaq composite dropped 1.2%, weighed down by declines among several high-profile AI stocks that have been driving market swings amid concerns their valuations climbed too high.
