SpaceX IPO hype, $1.7T valuation buzz; Musk, SpaceX founder/CEO, keeps ruling the rocket game and big tech chatter.
President Trump has completed a two‑day state visit to Beijing with US business chiefs, holding talks with Xi Jinping on trade, Taiwan, Iran and AI. Leaders have agreed to set up trade and investment councils; Trump has touted unspecified "fantastic" deals including a reported 200‑plane Boeing order while Chinese statements remain cautious.
Nvidia CEO Jensen Huang has joined President Trumps delegation to China and has been pictured in Beijing; the trip has been focusing on trade, AI export controls and Iran. China has not approved any purchases of Nvidias H200 chips and is continuing to push domestic chip development while U.S. export controls remain in place.
The U.S. and China have opened a 36-hour summit with talks focused on tariffs, Taiwan, and Tehran’s oil sales, but no substantive agreements have emerged. The Iran conflict continues to shape energy markets and global inflation, limiting any immediate market relief.
A 26-year-old influencer known as Fidias has won significant votes in Cyprus’ parliamentary election, with his Direct Democracy party receiving about 5.4% and four seats in the 56-member House. Fidias has said he will remain in the European Parliament but has ceded his domestic seat to Yiannis Laouris; his movement is polarising politics ahead of the 2028 presidential race.
Multiple outlets have reported that President Trump has said he 'doesn't think about' Americans' financial situation while negotiating with Iran, insisting preventing Tehran from a nuclear weapon is his sole focus. The comment has come as inflation has accelerated to 3.8% and gasoline has jumped above $4.50 a gallon since the war with Iran began.
Trump has arrived in Beijing with a tech-focused delegation for talks with Xi Jinping. Ratner accompanies the trip to scout for Rush Hour 4 filming locations, while executives from major tech firms are present. The discussions centre on trade, Iran, and Taiwan, with some hints about potential film projects pending outcomes.
During a state visit to Beijing, Trump and Xi have discussed Taiwan, trade, and the Strait’s openness. Xi has warned that mishandling Taiwan could trigger clashes or conflict, while Trump has kept US policy on Taiwan unchanged. A White House readout highlights themes of economic cooperation and the Iran situation.
Ofcom has secured commitments from X to block UK access to accounts tied to banned groups, review illegal content within 24-48 hours, and provide quarterly data for a 12-month period as part of a broader crackdown on terrorist and hate material.
Since late May, Waymo has paused service in six US cities and issued a software recall after taxis drove into or stalled on flooded roads; Tesla has expanded unsupervised robotaxi rides across the Austin metro while keeping a much smaller Texas fleet than rivals; Uber is preparing 500 sensor‑equipped Ioniq 5s to collect AV training data globally. (As of 03 Jun 2026.)
A California jury has found Elon Musk’s 2024 lawsuit against OpenAI, Sam Altman and Greg Brockman to be time-barred under the statute of limitations. The verdict, accepted by US District Judge Yvonne Gonzalez Rogers, clears OpenAI of liability over Musk’s claims that the nonprofit pivot to a for-profit structure harmed his early contributions. Musk plans to appeal; OpenAI edges toward an IPO path with Microsoft’s backing.
Ukraine has been targeting Russian air defences and logistics dozens of kilometres behind front lines, expanding the reach of long‑range attacks on oil facilities and military sites. Officials describe a growing focus on “middle strikes” ranging 30–180 km behind the front, supported by drones and improved coordination.
A wave of record profits, rising deal activity, and aggressive hiring define the current financial landscape. Banks are expanding, hedge funds are scaling, and private markets are buoyant as AI investment drives capital flows and strategic transactions.
Today, inflation has remained elevated with the latest data showing core inflation near multi-year highs while energy prices stay elevated amid geopolitical tensions. Markets react as Treasuries rise on expectations the Fed will keep policy tight, and investors reassess growth prospects.
The Unite the Kingdom rally in London has drawn tens of thousands, but police estimate the turnout was well below the organizers’ claims of millions and far short of last year’s peak. A simultaneous pro-Palestinian Nakba Day march raised concerns of clashes, with police reporting dozens of arrests and a large-scale security operation.
The White House has paused an executive order creating a voluntary framework for AI developers to engage with the U.S. government before releasing advanced models. The delay follows pressure from tech leaders and internal concerns about safety and speed, with lawmakers and industry players weighing safety guardrails against innovation.
Anthropic has raised $65 billion in a Series H financing led by Altimeter Capital, Greenoaks, Dragoneer and Sequoia, valuing the company near $965–$1,000 billion post‑money. The funding is being positioned to expand Claude's enterprise footprint, support new model development and hire staff as Anthropic prepares options for a future public listing.
New York City has launched the Commission on Government Efficiency (COGE) to make city government faster, smarter and more accountable. Ann Cheng will be executive director. Hearings will be held in all five boroughs as the administration seeks to balance the budget and improve access to affordable services.
A parliamentary-style essay argues that AI offers productivity gains but risks widening inequality unless Scotland aligns strategy across economy, education, and governance. Leaders are urged to act quickly to shape a future where Scots build their own intelligence instead of becoming simply customers of global AI.
Ukraine’s Third Army Corps has intensified pressure on Russian positions amid reports of fatigue in Moscow’s forces. Kyiv is pursuing a gradual, calculated push along the Donetsk fortress belt while leveraging drone technology and Starlink disruptions to limit Russian advances.
US markets rally as the Dow climbs, but chipmakers drop after earnings; CrowdStrike and Broadcom move markets with mixed results as AI momentum faces a pullback.
Florida has filed a civil lawsuit against OpenAI and CEO Sam Altman, alleging the ChatGPT tool is unsafe, harms users, and collects data from minors without parental oversight. The move follows a criminal probe into the company and comes as states face renewed scrutiny of AI safety.
Labour’s Andy Burnham is seeking a Westminster return in Makerfield, a by-election that could spark a leadership challenge to PM Keir Starmer. Markets and MPs are watching for policy signals as Burnham debates tighter regulation of AI, Big Tech, and key industries while promising bold action to address public concerns.
SpaceX has filed for a record-breaking IPO, aiming to raise about $75 billion at a $1.5–2 trillion valuation. Morningstar and other analysts warn the price may be overstated, given near-term profits remain uncertain; regulators and index providers are shaping the listing’s visibility and early trading dynamics.
Labour MP Jess Asato has filed a High Court claim against Elon Musk’s xAI alleging Grok-created non-consensual sexualised images and a video have harmed her, testing accountability for AI design in the process.
Global markets are reacting to SpaceX pricing its upcoming IPO at $135 per share, valuing the company at about $1.77 trillion. CNBC notes mixed signals from the Middle East, with Netanyahu signaling readiness for potential military action and talks of a ceasefire between Israel and Lebanon. The developing picture includes pressure on oil prices and a chorus of U.S. political maneuvering around Iran policy.
Tesla has announced that robotaxi rides without a human operator are now available in the entire Austin Metro area, expanding beyond its prior city-limits footprint. The move follows Tesla’s earlier phase-out of in-vehicle monitors, indicating growing confidence in its autonomous driving tech. Waymo remains a comparator with a larger fleet in nearby markets.
Anthropic has called for a coordinated global pause on frontier AI development to allow alignment research and societal structures to keep pace. The proposal emphasizes verification mechanisms and warns of recursive self-improvement risks, while OpenAI cautions that governments, not labs alone, should set rules. The idea has drawn mixed responses from industry figures and policymakers.
NASA has since been coordinating with Roscosmos as air leaks in a Zvezda tunnel prompt a safety posture on the ISS. Four Crew-12 astronauts are preparing for a potential Dragon-based evacuation while Roscosmos conducts an extended repair operation to the tunnel, which has long suffered cracks and leaks.