Business & Technology

Top news events, current events and major headlines in business & technology: stock market, major tech IPOs, the trillion-dollar club, the AI race, the AI bubble, Big Tech regulation, chip wars and more.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

Australia gives social media users an algorithm “off switch” in landmark digital duty-of-care bill

Australia’s draft “digital duty of care” bill lets users opt out of social media algorithms, imposes A$109m fines and strengthens under‑18 safety rules.

OpenAI declares ‘AGI era’ with GPT‑6 Astra launch

OpenAI rolled out GPT‑6 Astra, framing the release as the industry’s closest step yet to artificial general intelligence.

NVIDIA acquires Hugging Face in $12.93billion bet on Open-Source AI

NVIDIA will acquire Hugging Face, the New York–based platform widely described as the “GitHub for AI for $12.93billion.

Shein’s Hong Kong debut exposes the limits of fast fashion’s growth machine

The long-awaited listing immediately exposed investors’ doubts about the fast-fashion retailer’s growth prospects.

Meta agrees to up to $18B settlement, sweeping teen safeguards on Facebook and Instagram

Over the next decade, Meta must enforce a suite of default protections for teen accounts on Facebook and Instagram, with many controls adjustable only by a parent or guardian.

AI RACE

Trump’s ‘morally binding’ AI pact puts tech giants in the referee’s seat

Trump and six AI CEOs signed a voluntary “morally binding” safety accord—no legal teeth, a glaring typo, and big questions over audits and enforcement.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

Trump announces ‘AI Force’ and new AI czar, doubling down on pro‑growth stance

Trump announces a federal “AI Force” and new AI czar, modeled on Space Force, to keep the US ahead of China while rejecting new rules that could slow AI growth.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

OpenAI declares ‘AGI era’ with GPT‑6 Astra launch

OpenAI rolled out GPT‑6 Astra, framing the release as the industry’s closest step yet to artificial general intelligence.

NVIDIA acquires Hugging Face in $12.93billion bet on Open-Source AI

NVIDIA will acquire Hugging Face, the New York–based platform widely described as the “GitHub for AI for $12.93billion.

Anthropic to watermark Claude-generated text worldwide under EU AI transparency rules

The move follows Anthropic’s decision to sign the European Union’s Code of Practice on Transparency of AI-Generated Content.

INDUSTRY DEVELOPMENTS

Shein’s Hong Kong debut exposes the limits of fast fashion’s growth machine

The long-awaited listing immediately exposed investors’ doubts about the fast-fashion retailer’s growth prospects.

Amazon joins $3trillion club as AI-driven cloud boom powers record rally

Amazon became only the fifth company in history to reach a US$3T valuation, joining Nvidia, Alphabet, Apple and Microsoft.

Trump Media launches paid “fast lane” to Truth Social posts, sparking insider-trading alarms

TMTG spokesperson Shannon Devine has argued that critics are inventing a "new theory of ‘insider trading’ based on publicly available information".

Trump turns on oil giants: “Too much money” from Iran war profits

The remarks came after ExxonMobil and Chevron posted blockbuster earnings attributed to war‑driven supply shocks and elevated crude prices.

China hits Trip.com with $770million antitrust fine in sweeping crackdown on online travel market

The penalty follows a six-month investigation launched in January 2026, but authorities found that the anti-competitive conduct stretched back as far as 2020.

SK Group chairman Chey Tae-won ordered to pay $640million in South Korea’s “divorce of the century”

South Korean media has long called the case the "divorce of the century" involving one of the country’s most powerful family-controlled conglomerates.

DeepSeek Eyes 2027 IPO as valuation soars and founder tops global AI wealth rankings

The planned IPO comes amid a sharp rise in DeepSeek’s valuation and revenue, underscoring intensifying competition among AI firms to secure capital.

Trump Calls for US to Rename AI ‘Super Intelligence’

Trump says the US will rename artificial intelligence “super intelligence,” sparking debate over AI’s capabilities, regulation and future.

AI leaders call for slowdown — and US response splits between labs and Washington

US AI leaders — Anthropic’s Dario Amodei, OpenAI’s Sam Altman and xAI’s Elon Musk — publicly called for a slowdown in frontier AI development citing safety concerns.

Australia gives social media users an algorithm “off switch” in landmark digital duty-of-care bill

Australia’s draft “digital duty of care” bill lets users opt out of social media algorithms, imposes A$109m fines and strengthens under‑18 safety rules.

OpenAI declares ‘AGI era’ with GPT‑6 Astra launch

OpenAI rolled out GPT‑6 Astra, framing the release as the industry’s closest step yet to artificial general intelligence.

NVIDIA acquires Hugging Face in $12.93billion bet on Open-Source AI

NVIDIA will acquire Hugging Face, the New York–based platform widely described as the “GitHub for AI for $12.93billion.

Meta agrees to up to $18B settlement, sweeping teen safeguards on Facebook and Instagram

Over the next decade, Meta must enforce a suite of default protections for teen accounts on Facebook and Instagram, with many controls adjustable only by a parent or guardian.

Anthropic to watermark Claude-generated text worldwide under EU AI transparency rules

The move follows Anthropic’s decision to sign the European Union’s Code of Practice on Transparency of AI-Generated Content.

AI agents cross a new line as Meta joins Anthropic and OpenAI in test-environment breaches

Frontier models have accessed real systems, impersonated people and attempted to manipulate software developers during cybersecurity evaluations.

Rogue AI agents from OpenAI and Anthropic slip the lab and hack the real world

The twin disclosures have transformed long‑running warnings about “rogue AI” from hypothetical thought experiments into documented incidents.

Shanghai agreement establishes new global AI body without Western powers

Analysts interpret WAICO as part of a broader effort by China to shape international norms around AI, in parallel to existing Western-led initiatives.

DeepSeek Eyes 2027 IPO as valuation soars and founder tops global AI wealth rankings

The planned IPO comes amid a sharp rise in DeepSeek’s valuation and revenue, underscoring intensifying competition among AI firms to secure capital.

Update: CXMT Prices $8.6billion IPO, China’s largest since 2010

CXMT, China’s leading DRAM manufacturer, is moving ahead with one of the most consequential tech listings of the year, China's largest in 2026 so far.