The hedge fund founder told CNBC on May 7 that Washington’s failure to establish governance frameworks while AI deployment accelerates is a ‘governance gap’ that could produce risks society is not prepared for — framing AI oversight as a financial stability concern, not just a civil liberties one.
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EU opens sweeping antitrust inquiry into Big Tech’s AI operations
The European Commission’s competition directorate confirmed in March 2026 that it has opened a wide-ranging inquiry into how large technology companies are using AI to entrench market power, targeting practices at Nvidia, Meta, Google, and Microsoft simultaneously.
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Trump’s January chip order rewrites the rules on AI hardware exports
A January 2026 presidential proclamation imposing a 25 percent tariff on imported AI chips, combined with a BIS rule shifting export review of advanced chips from presumption of denial to case-by-case, has restructured who can buy the most powerful AI hardware and on what terms.
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UK announces AI hardware strategy to cut semiconductor dependence
The UK government unveiled a domestic AI hardware plan in late April, committing to build sovereign capability in the chips and semiconductor technologies underpinning the AI stack — a belated but explicit acknowledgement that dependence on US and Asian supply chains is a strategic vulnerability.
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Meta refuses to sign the EU’s AI Code of Practice as August enforcement approaches
Meta’s Chief Global Affairs Officer Joel Kaplan publicly declined to sign the voluntary Code of Practice for general-purpose AI models, calling it legally uncertain and beyond the AI Act’s scope — a position that puts the company on a collision course with the European AI Office ahead of the August 2 enforcement date.
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Oil below $65 as OPEC fracture and demand weakness trump Iran risk premium
Brent crude has traded between $60 and $70 per barrel through May despite the Iran war’s ongoing Hormuz disruption, with the UAE’s exit from OPEC and weak global demand growth suppressing the price that Saudi Arabia’s $80 budget breakeven requires.
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US stocks reach records even as the Middle East rattles global supply chains
The S&P 500 has hit new highs in 2026 driven by AI-linked earnings growth, with large-cap tech outperforming across the board while commodities and credit spreads reflect the risk of a longer supply chain disruption from the Iran conflict.
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Nvidia guides to $78 billion for Q1 as Blackwell demand stays ahead of supply
The chipmaker’s fiscal first-quarter results, due May 20, carry $78 billion in management guidance — a sequential increase from the $68.1 billion reported in Q4 — driven almost entirely by data center orders for its Blackwell architecture platform from hyperscale cloud providers.
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Bitcoin ETFs pass $100 billion in assets as BTC breaks $80,000
US spot Bitcoin ETFs have now exceeded $100 billion in total net assets, with BlackRock’s IBIT alone holding roughly 809,000 BTC — about 7 percent of total circulating supply — as four consecutive days of institutional inflows lifted the token above $80,000 in early May.
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Gold retreats from its $5,589 record but forecasters still see $5,000 ahead
After hitting an all-time high in January 2026, gold has pulled back roughly 16 percent to trade around $4,700, driven by rising US inflation expectations and growing conviction that the Federal Reserve will keep rates elevated well into 2027.