Tech

The White House defended President Trump’s extensive stock trading activity, totaling thousands of transactions. Vice President Vance stated the President does not personally manage his investments, relying on independent advisors and discretionary accounts managed by third-party institutions. The Trump Organization clarified that neither the President nor his family are involved in specific investment decisions, aiming to address concerns about conflicts of interest. Vance also reiterated his support for banning public officials from trading stocks.

Polymarket is launching prediction contracts on private market milestones for sought-after companies like OpenAI and Anthropic, partnering with Nasdaq Private Market for data. These contracts allow traders to speculate on events like valuations and IPO timelines, offering retail investors exposure to the lucrative private market without equity ownership. This initiative aims to create a more accessible and liquid trading environment for private market information.

Google has unveiled its first audio smart glasses, integrating its Gemini AI assistant directly into frames. Developed in partnership with Samsung, Gentle Monster, and Warby Parker, these glasses aim to provide discreet, audio-based information access for Android and iOS users. This move signifies Google’s strong bet on wearable AI integration amidst a competitive landscape, with potential for data acquisition to enhance AI models.

OpenAI is securing its infrastructure ambitions with a new “Guaranteed Capacity” offering. This program allows customers to sign long-term compute contracts (one to three years) for AI resources, providing OpenAI with predictable revenue and capital. The move addresses the industry’s insatiable demand and rising costs for computational power, offering escalating discounts for longer commitments. CEO Sam Altman views this as a “big win-win,” enabling better planning in a capacity-constrained market. This initiative supports OpenAI’s vision for massive revenue growth and potential IPO.

SpaceX has reportedly selected Goldman Sachs to lead its landmark IPO, with other major banks also involved. The offering is expected to be record-breaking, reflecting SpaceX’s $1.25 trillion valuation. This move positions SpaceX ahead of other AI titans eyeing public listings and follows Elon Musk’s previous successful Tesla IPO led by Goldman Sachs.

The conclusion of the legal dispute between Elon Musk and Sam Altman ushers in a new era of potential record-breaking IPOs for AI giants SpaceX and OpenAI. SpaceX, valued at $1.25 trillion, is expected to file its prospectus imminently, while OpenAI, valued at over $850 billion, targets a later debut. Both companies face immense pressure to justify their astronomical valuations and prove robust business models. Beyond legal battles, Musk grapples with SpaceX’s diversified ventures and governance, while Altman navigates OpenAI’s substantial financial demands and intense competition. The focus now shifts from litigation to demonstrating tangible execution and sustainable growth in the transformative AI landscape.

Andrej Karpathy, formerly of Tesla AI and OpenAI, has joined Anthropic to lead pretraining research for their Claude model. This move signals Anthropic’s ambition to challenge OpenAI’s dominance in the competitive AI landscape, bolstering their talent pool and research capabilities in large language models.

Recent software stock gains are likely a short-covering rally, not a fundamental revival. Hedge funds have heavily bet against software due to AI disruption fears. This concentrated short interest is now forcing investors to buy back shares, driving prices up. While AI hardware demand remains strong, traditional software appetite is weaker, indicating a bifurcated market. Some software rallies, like ServiceNow’s, may be short-lived. Long-term conviction remains with AI infrastructure hardware companies.

Google unveiled Gemini 3.5 Flash, a faster, more affordable AI model, at its I/O conference. They also introduced Gemini Spark, an AI agent for task automation, and Omni, a world model for simulating physical environments and advanced video editing. These moves emphasize Google’s commitment to AI innovation and integrating AI into user-facing services.

The U.S. Department of Defense is partnering with Shield AI to integrate its Hivemind autonomous software into LUCAS drones. This aims to create cost-effective uncrewed combat systems, enhancing warfighter safety and reducing expenses. The move is a response to threats posed by low-cost drones. Shield AI’s technology allows drones to operate autonomously, making decisions without constant human input. The company has secured significant funding, indicating strong investment in defense technology.