Trump is awed by Riyadh’s transformation. So are Saudis.
Analysis: The post-terror era in US-Gulf ties
The World at a Glance
Updated 3:10pm EDT
1
The US-Gulf dealmaking kept flowing as Donald Trump visited Qatar, which vowed to buy up to 210 Boeing jets.
2The Trump administration issued new guidance targeting Huawei’s AI chips, reflecting Washington’s growing concern about the Chinese tech giant’s capabilities.
3Donald Trump met with Syria’s new leader, after saying he will order US sanctions on Syria to be lifted.
4Pressure is growing on Russia to end its war with Ukraine, with European leaders floating new sanctions on Moscow.
5Major investment banks raised their forecasts for China’s economic growth after Beijing and Washington paused tariffs.
6Washington agreed defense deal worth $142B with Saudi Arabia, the White House said, as Donald Trump seeks further Gulf investments in the US.
Saudi Arabia snaps up US chips following Trump’s visit
Nvidia will sell its most advanced AI chips to Saudi Arabia’s HUMAIN, while the kingdom also struck deals with AMD and Amazon Web Services.
Tareq Amin, CEO of HUMAIN, and Jensen Huang, CEO of NVIDIA. Hamad I Mohammed/Reuters.US-Gulf dealmaking keeps flowing as Qatar makes record Boeing order
Washington and Doha promised to deepen their defense partnership, while Qatar said it would buy 210 jets from US aircraft giant Boeing.
Brian Snyder/ReutersAfrica looks to unleash local capital as US drives global uncertainty
Policymakers and bankers are eyeing institutional sources, such as pension funds, to fund vital infrastructure.
Sodiq Adelakun/ReutersMeta releases new data set, AI model aimed at speeding up scientific research
The Open Molecules 2025 project required 6 billion compute hours in Meta data centers, and could make complex chemistry calculations 10,000 times faster.
Peter Dasilva/File Photo/ReutersAD
Trump tames his party’s free-traders
Republicans who might have panicked over a 10% universal tariff just a few months ago are now happy they’re not several times higher.
Leah Millis/ReutersHow the Senate will change the ‘big, beautiful bill’
GOP senators are cool to the bill’s timeline for phasing out clean energy tax credits and language on Medicaid cuts.
Tia Dufour/DHSTrump’s Qatari plane parks itself in his way
The president is forging ahead with plans to accept a gifted jet that is clearly dividing his party and emboldening Democrats.
Brian Snyder/Reuters
politics
Nathan Howard/ReutersTia Dufour/DHS
Republicans wrestle with possible failure of ‘big, beautiful bill’
Party leaders are optimistic. But in the words of one House conservative: “It was probably too much to do in one bill.”
Nathan Howard/ReutersSemafor interviews Coinbase CEO Brian Armstrong, Sens. Kirsten Gillibrand and Cynthia Lummis
Semafor’s Eleanor Mueller sits down with Coinbase CEO Brian Armstrong and Senators Kirsten Gillibrand and Cynthia Lummis for a timely editorial discussion about the future of innovation and regulation in the digital asset space.
How the Senate will change the ‘big, beautiful bill’
GOP senators are cool to the bill’s timeline for phasing out clean energy tax credits and language on Medicaid cuts.
Tia Dufour/DHSTrump tames his party’s free-traders
Republicans who might have panicked over a 10% universal tariff just a few months ago are now happy they’re not several times higher.
Trump’s Qatari plane parks itself in his way
The president is forging ahead with plans to accept a gifted jet that is clearly dividing his party and emboldening Democrats.
Arrest boosts Newark mayor as he runs for governor
The episode is testing Ras Baraka’s theory that the party’s voters want to pick fights that moderates want to avoid.
New York court hears challenge to Trump tariffs
A three-judge panel on an obscure court in Manhattan on Tuesday heard a challenge from small businesses to the sweeping levies announced in April.
Bipartisan bill would push back on China’s influence
The bill would direct Washington to develop a formal strategy for engaging the islands and empower it to extend some diplomatic immunities.
How Democrats plan to counterattack Trump’s tax bill
The party’s top member on the House Ways and Means Committee sat down with Semafor to detail his strategy.
The new Republican ‘MAGA Account’ has a surprising architect: Ted Cruz
The Texas senator and former Trump rival told Semafor he wants to “produce new capitalists.”
Uncommon bonds: Lowering drug prices
GOP Sen. Josh Hawley has a new bipartisan bill that he’s trying to convince other Republicans to join.
business
World Economic Forum/Qilai Shen
Elliott’s Arconic chapter draws to a close, ten years later
Shareholders made billions, CEOs learned a lesson in discretion, and activists continue to prosper and profit.
World Economic Forum/Qilai ShenUS inflation rose less than expected in April, as analysts warn of future price hikes
Some analysts argued that April’s consumer price index reflected a ‘final lull’ before the effect of tariffs becomes evident in the economy.
‘We’re building a moat around a castle’: How Gallagher’s CEO struck 500 deals in 30 years
The third-generation CEO has transformed the insurance broker’s valuation, but says its size has not given it pricing power.
Airwaves auction gains backers, but who’s bidding?
Republicans are pushing to authorize an auction of wireless spectrum as part of the “big, beautiful bill” that would enact the president’s domestic agenda.
As Fed keeps rates steady, Powell warns of ‘extremely elevated’ uncertainty over Trump policies
The unanimous decision marks the third time this year that the US central bank has kept the cost of borrowing the same.
technology
Hamad I Mohammed/ReutersPeter Dasilva/File Photo/Reuters
Elon Musk’s ‘xeet’ count dropped off
Musk is averaged 40 posts per day last month on X, far less than the thousands he posted in a month during Trump’s election.
Hamad I Mohammed/ReutersMeta releases new data set, AI model aimed at speeding up scientific research
The Open Molecules 2025 project required 6 billion compute hours in Meta data centers, and could make complex chemistry calculations 10,000 times faster.
Peter Dasilva/File Photo/ReutersUS hardens stance on Huawei AI chips
Despite Washington targeting Huawei for years in an effort to stymie its ability to innovate, the company has flourished, especially in the domestic market.
Cuts at NOAA lead to new weather balloon technology at the agency
A Silicon Valley weather startup will soon begin replacing weather balloons with AI-powered alternatives.
US Treasury examining Benchmark Capital’s ties to Chinese startup Manus AI
Benchmark led a $75 million investment into Manus which is under review, said sources familiar with the matter.
NIMBYism hits US AI infrastructure buildout
“It’s like living in hell,” one resident said of the data center infrastructure in her county.
net zero
Willy Kurniawan/Reuters
Daniel Cole/Reuters
USA Today Network via Reuters
China’s energy investing is getting greener
As it navigates foreign tradewars, China is turning more cash toward local clean energy projects.
Willy Kurniawan/ReutersHouse GOP cuts, but not kills, wind and solar tax credits
The consensus forming among Republican lawmakers on renewable energy subsidies is less extreme than the industry’s worst fears.
Daniel Cole/ReutersBig gas turbine manufacturers aren’t ready to bet on the AI boom
Demand for gas power-generation hardware is surging, but the few companies that make it are reluctant to scale up.
USA Today Network via ReutersgulfBrian Snyder/Reuters
US-Gulf dealmaking keeps flowing as Qatar makes record Boeing order
Washington and Doha promised to deepen their defense partnership, while Qatar said it would buy 210 jets from US aircraft giant Boeing.
Brian Snyder/ReutersTrump is awed by Riyadh’s transformation. So are Saudis.
The US president raved about the city’s skyline and status as an economic hub.
Analysis: The post-terror era in US-Gulf ties
President Donald Trump’s speech in Riyadh charts deeper economic and security ties with the Gulf.
Trump meets Syrian president after promising to lift sanctions
Trump urged Mohammed al-Sharaa to normalize ties with Israel, while the Syrian leader has sought to woo Washington with business deals.
Saudi Arabia snaps up US chips following Trump’s visit
Nvidia will sell its most advanced AI chips to Saudi Arabia’s HUMAIN, while the kingdom also struck deals with AMD and Amazon Web Services.
africa
Amazon CEO Andy Jassy. Brendan McDermid/File Photo/Reuters.
Stephanie Lecocq/File Photo/Reuters
Africa could unlock $103B using generative AI, report finds
The report estimated that more than 40% of African institutions have either experimented with or implemented generative AI solutions.
Amazon CEO Andy Jassy. Brendan McDermid/File Photo/Reuters.Danone doubles down on Nigeria investment
Danone has long been operating in Nigeria, and recently invested in developing milk distribution capacity in the country’s north.
Stephanie Lecocq/File Photo/ReutersAfrica looks to unleash local capital as US drives global uncertainty
Policymakers and bankers are eyeing institutional sources, such as pension funds, to fund vital infrastructure.
Mobile internet gender gap narrows in sub-Saharan Africa
It is the only region to have shown progress but still has the highest proportion of women not yet using mobile internet, a new report suggests.
Analysis: How to rethink climate finance for Africa
African countries need to drop complicated strategies aimed at the global development bureaucracy and instead focus on attracting best-fit investors.
Africa’s debt crisis talks to center on need for global reform
Around 20 of the continent’s 54 countries are in, or at risk of, debt distress.
media
Akhtar Soomro/Reuters
Analysis: The fog of information war
We may have reached the end of a long and uneven march toward transparency in global crises.
Akhtar Soomro/ReutersLooking for direction, Democrats consult pundits
The party is increasingly seeking out policy answers from prominent figures in the media.
PR pros have discovered how to influence the chatbots: Talk to a journalist
The public relations business is poised for a resurgence in the AI age. It just needs someone to write the stories.
538’s former top numbers guy to launch data journalism site
G. Elliott Morris, the data journalist who took over 538 in 2023, is launching Strength In Numbers, a paid Substack.
Legal sports betting was a ‘gold rush’ for Clay Travis: ‘We made $2M on Super Bowl Sunday’
“Everything changes almost overnight,” the OutKick founder said on Semafor’s Mixed Signals podcast.
security
Kris Tripplaar/Semafor
Christian Klindt Soelbeck/Ritzau Scanpix/via Reuters
Trump will likely ‘walk away’ from both Russia and Ukraine if he can’t get a peace deal: Ian Bremmer
If Trump fails to convince Moscow to agree to a ceasefire, he will likely walk away from both Ukraine and Russia, Bremmer said at Semafor’s World Economy Summit.
Kris Tripplaar/SemaforUS scales back Greenland visit after criticism
US President Donald Trump’s expansionist overtures are creating a ‘permissive space’ for other world leaders bent on territorial acquisition, analysts argued.
Christian Klindt Soelbeck/Ritzau Scanpix/via ReutersAD