AI and Jobs: The Data Tells a Different Story

White House AI and Crypto Czar David Sacks is calling out what he sees as fear-mongering about artificial intelligence destroying American jobs. His evidence? New data from Vanguard showing that AI is actually driving significant hiring and wage increases right now. It's a direct challenge to the narrative that's been dominating headlines for months about AI replacing workers en masse.

The timing matters. Just as these numbers emerged, economist Peter Schiff jumped into the debate by pushing back hard against Sen. Bernie Sanders' (I-VT) proposal for a moratorium on new AI data centers. Schiff called the idea an attack on productivity, progress, and economic growth itself. His argument: jobs aren't the goal of an economy, they're the cost. Productivity is what actually improves living standards.

Meanwhile, tech entrepreneur Bryan Johnson made waves by suggesting that rapid advances in AI and biotechnology could make human immortality achievable within 14 years. He's optimistic about the timeline but careful to note the science still carries serious and unresolved risks.

Trump's Air Taxi Strategy Takes Off

Transportation Secretary Sean Duffy unveiled the Trump administration's strategy to kickstart air taxi operations in the United States. The plan aims to beat China in the race to commercialize urban air mobility and establish American leadership in this emerging transportation sector.

Joby Aviation Inc. (JOBY) is positioning itself at the center of this push. The company unveiled plans to double its manufacturing capacity in the United States, aiming to produce four aircraft per month over the next two years. Joby is also expanding hands-free assisted driving capabilities and rolling out software updates that give pilots more control and customization across its vehicle lineup.

The company is intensifying efforts to integrate electric air taxis into everyday travel, aligning new infrastructure plans with a faster production timeline as regulators move to open the skies to eVTOL aircraft. The CEO of rival Joby Aviation (JOBY) publicly praised the administration's move, saying it will benefit American people and businesses.

Trade Tensions and Tech Diplomacy

The United States has reportedly put on hold a technology agreement with the United Kingdom, citing dissatisfaction with the progress of trade discussions. It's a sign that even close allies aren't immune from the administration's harder line on international tech and trade relationships.

The Trump administration also warned it could impose fees or limits on European service providers if the EU continues what Washington calls discriminatory actions against U.S. companies. The message is clear: if you're going after American tech firms, expect reciprocal treatment.

On the domestic front, the administration launched Tech Force, a major workforce initiative designed to recruit top-tier private sector technologists for short-term government service. The goal is to inject Silicon Valley expertise into federal operations.

Meta's AI Wearables Acceleration

Meta Platforms Inc. (META) is accelerating its push into artificial intelligence-powered wearables, updating its smart glasses and adjusting its broader hardware strategy to focus on smarter, more premium devices. The company is betting big that AI-enhanced glasses can become the next major computing platform beyond smartphones.

Meta (META) is also reportedly working on a new AI model focused on image and video processing, led by the company's Chief AI Officer, Alexandr Wang. The model, part of what's being called the "Mango and Avocado" lineup, is designed to rival Google's Nano and Banana models when it launches in 2026.

Tesla Faces California Heat

A California Administrative Law Judge ruled that Tesla Inc.'s (TSLA) marketing around its Autopilot and full self-driving systems has been deceptive, suggesting punitive measures against the company and its operations in the state. The decision could force Tesla to rebrand its Autopilot feature and face a 30-day suspension of its license to sell and manufacture vehicles in California.

Meanwhile, General Motors Co. (GM) is reportedly eyeing its current Chief Product Officer, Sterling Anderson, as a potential successor to CEO Mary Barra. Anderson is a former Tesla Autopilot executive and co-founder of Aurora Innovation Inc. (AUR), bringing deep autonomous vehicle expertise to the table.

Rivian Automotive, Inc (RIVN) is expanding hands-free assisted driving to 3.5 million miles and rolling out new software updates that give drivers more control and customization across Gen 1 and Gen 2 vehicles.

Major Deals and Corporate Moves

Trump Media & Technology Group Corp. (DJT) announced it will merge with TAE Technologies in an all-stock deal valued at over $6 billion to fuel its fusion energy ambitions. The deal represents a major strategic pivot for the media company toward energy technology.

Sony Group Corp (SONY) shares dropped after the company announced plans to increase its ownership of the iconic Peanuts franchise. The move gives Sony greater control over Snoopy, Charlie Brown, and the rest of the beloved characters.

ServiceNow (NOW) is reportedly in advanced talks to acquire cybersecurity firm Armis, which could value the startup at up to $7 billion. The acquisition would significantly expand ServiceNow's security capabilities.

TikTok has reportedly signed an agreement to create a new U.S.-based joint venture with major American investors including Oracle and Silver Lake, as ByteDance loosens its grip to avoid a potential U.S. ban.

Regulatory Pressure and Legal Battles

Coinbase Global Inc. (COIN) filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over the regulation of prediction markets. The company warned of "immediate and irreparable harm" from state-level regulatory overreach.

The Federal Trade Commission issued a civil investigative demand to Instacart Inc. (CART), requesting information about its Eversight pricing tool. The news sent the stock down over 6% in Thursday pre-market trading.

The U.S. State Department approved a $11.15 billion arms sale to Taiwan, the largest of its kind, as the island nation grapples with mounting threats from China.

Apple and Google Respond to Japan's New Rules

In response to Japan's Mobile Software Competition Act, Apple Inc. (AAPL) and Alphabet Inc. (GOOG) (GOOGL) announced significant changes to their app store policies. The new law forces both companies to allow alternative payment systems and app stores on their platforms.

Apple (AAPL) reportedly has eight iPhones in the works for 2026 and 2027, sparking optimism for the stock. The lineup could include a foldable model and a special 20th anniversary edition. A new leak suggests Apple's long-rumored foldable iPhone will prioritize thinness and durability over familiar features like Face ID as it prepares to enter the foldable smartphone market.

AI Chip Wars Heat Up

Google (GOOG) is stepping up its push to reshape the competitive dynamics of the AI chip market, enlisting Meta (META) to help cut reliance on Nvidia as demand for large-scale AI computing continues to surge. The partnership represents a significant challenge to Nvidia's dominance in AI hardware.

Taiwan Semiconductor Manufacturing Company Ltd. (TSM) is advancing with significant capacity investments as global demand for advanced chips, particularly from U.S. customers, continues to rise. The company now derives three-fourths of its sales from American customers, a dramatic shift in its customer base.

OpenAI's Aggressive Expansion

Sam Altman, CEO of OpenAI, expressed concerns about Google's dominance in artificial intelligence. He believes Google's immense power and business model could pose a significant threat in the AI space, suggesting Google would have been able to "smash OpenAI" back in 2023.

Despite those concerns, OpenAI is moving aggressively on multiple fronts. The company is reportedly in talks with Amazon.com Inc. (AMZN) about a potential investment that could exceed $10 billion and a deal to use Amazon's artificial intelligence chips. OpenAI has also held preliminary talks with investors about raising as much as $100 billion at a valuation of roughly $750 billion, laying groundwork for a potential $1 trillion IPO.

OpenAI is set to bring former UK Chancellor George Osborne into a senior global role as shifting U.S.–UK tech relations and intensifying competition over AI infrastructure reshape the international landscape.

The company's consumer product is printing money. ChatGPT reached the milestone of $3 billion in global consumer spending on its mobile app as of this week, hitting the mark faster than TikTok and Disney ever did.

DoorDash Inc. (DASH) stock gained on Thursday after announcing a partnership with OpenAI to integrate grocery shopping directly into ChatGPT, making it easier for users to order food without leaving the AI chatbot.

Chinese Tech Giants Make Moves

Alibaba Group Holding Ltd (BABA) is integrating its mapping and navigation platform, Amap, into its Qwen AI app to enhance real-world "life services" just weeks after the app's launch. The move positions Alibaba to compete more directly with other AI assistants in practical, everyday use cases.

Enterprise AI Partnerships

Cognizant Technology Solutions Corporation (CTSH) and Microsoft Corp. (MSFT) announced a multi-year alliance to help global companies scale artificial intelligence across core business functions. The partnership will focus on bringing AI capabilities to enterprise customers at scale.

Amazon's Workforce Restructuring

Amazon (AMZN) is set to lay off 370 employees or about 8.5% of its Luxembourg workforce. The cuts come as the company restructures operations while simultaneously doubling down on AI investments.

Earnings Highlights

Accenture (NYSE: ACN) reported quarterly earnings of $3.94 per share, topping the analyst consensus estimate of $3.75 and sales of $18.700 billion, slightly exceeding the analyst consensus estimate of $18.523 billion. The company said AI demand is rising but scale remains limited for now.

Micron Technology, Inc. (MU) reported first-quarter revenue of $13.64 billion, topping estimates, with adjusted earnings of $4.78 per share. The company said "the best is yet to come" after a record quarter, driven by strong demand for memory chips used in AI applications.

President Trump's Address

President Donald Trump delivered remarks to the nation highlighting the administration's actions over the past year and outlining priorities for 2026. He promised aggressive housing reforms, a "warrior dividend" for military families, and lower prices across the board. "I inherited a mess and I am fixing it," Trump said in the prime-time address.