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Hunstad: Staying Risk-On in the AI Boom

Michael Hunstad, President of Northern Trust Asset Management, recently discussed the bullish outlook for markets driven by artificial intelligence. He argues that Wall Street is significantly underestimating AI's economic impact, which could lead to margin expansion and innovative investing strategies. Hunstad also suggests that the Federal Reserve may adopt a more restrictive stance due to the productivity gains associated with AI advancements.

Popular X Account Sparks Massive Rally in Little-Known Chipmaker

Shares of X-Fab Silicon Foundries SE, a European chip manufacturer, skyrocketed more than 70% on Wednesday after being highlighted by the popular social media account Serenity. The account, which boasts over 400,000 followers, revealed its investment in the Paris-listed firm, which operates six semiconductor manufacturing sites globally.

Stocks Hold Near Record on AI Trade as Oil Falls

Stocks are maintaining their position near record highs, buoyed by strong interest in artificial intelligence investments and a drop in oil prices. The decline in oil is attributed to increasing hopes for a resolution to the Iran war, while analysts like Mina Krishnan from Schroders are weighing in on inflation and GDP forecasts for the remainder of 2026.

Billionaire Phillipe Laffont Recently Sold Oracle, Tesla, and Nvidia and Purchased a Stock Down 94% Since Its IPO in 2020

Billionaire investor Philippe Laffont has made significant moves in the tech sector, selling his entire stake in Oracle and drastically reducing his holdings in Tesla and Nvidia. In contrast, he initiated a new position in Lucid Group, a luxury electric vehicle manufacturer whose stock has plummeted 94% since its IPO in 2020, reflecting the challenges faced in the EV market amid rising costs and reduced incentives.

AI tried to bury this politician — now people have actually heard of him

In the heated race for New York's 12th congressional district, Alex Bores, a previously little-known state assemblyman, has emerged as a front-runner thanks to a political proxy war between AI companies OpenAI and Anthropic. Despite facing millions in attack ads aimed at derailing his campaign due to his advocacy for AI regulation, Bores has gained visibility and support, positioning himself as a key figure in the debate over AI safety.

Signos grows foothold in weight loss wave fueled by GLP-1s with its AI health data tracking

Health technology startup Signos has announced a $20 million funding round, enhancing its position in the weight loss market driven by GLP-1 medications. The company has expanded its partnership with Dexcom, which will now distribute Signos' subscription plans through its direct-to-consumer site. Signos' AI-powered glucose monitoring system, the first FDA-approved device for weight loss, provides personalized health recommendations based on real-time glucose data.

UP refutes new AG claims, says it provided all answers in merger paperwork

Union Pacific has pushed back against claims from attorneys general of six states that it did not provide necessary information in its revised merger application with Norfolk Southern. In a filing with the Surface Transportation Board, UP stated it met all obligations regarding market shares, post-merger effects, and planned divestments. The company argues that the merger will foster competition and enhance the U.S. supply chain, countering opposition from competitors who fear increased competition.

FAA orders SpaceX to investigate Starship V3 booster failure

The FAA has ordered SpaceX to investigate the failure of its Starship V3 booster during a test flight on May 22, pausing further launches until the investigation is complete. The booster experienced engine failures shortly after separating from the Starship, leading to a likely explosion upon impact with the Gulf of Mexico. This setback could delay SpaceX's plans for an IPO in mid-June, as the FAA will oversee the investigation and approve any corrective actions.

Robinhood will let your AI agent trade stocks and make (or lose) lots of money

Robinhood has announced the introduction of AI agents on its trading platform, allowing users to create dedicated accounts for these agents to buy and sell stocks. While the feature aims to automate investment decisions and monitor specific industries, Robinhood cautions that AI trading involves significant risks, including the potential loss of the entire investment. Users will receive notifications for trades and can pause AI activities at any time, with plans to expand the feature to additional financial products in the future.

ElevenLabs’s new music generation model can switch genres mid-track

ElevenLabs has introduced Music v2, a new music generation model that can seamlessly switch genres mid-track, allowing artists to create complex compositions with ease. This model, which can transition from opera to heavy metal and deliver coherent fast rap, enhances creative control by enabling users to recreate specific sections of a song without affecting others. Built on licensed data, the model is cleared for commercial use, positioning ElevenLabs as a key player in the competitive AI music landscape.

YouTube will now automatically label AI videos

YouTube has announced that it will begin automatically labeling videos that utilize significant photorealistic AI, moving beyond reliance on creators for disclosures. This change, effective in May, will enhance the visibility of AI labels, placing them directly below the video player for long-form content and on YouTube Shorts, ensuring users can easily identify AI-generated content.

Amazon starts selling its AI shopping technology to other retailers

Amazon has begun licensing its AI shopping technology, originally developed for internal use, to other retailers, aiming to become a key player in AI-driven e-commerce. The service, based on the rebranded Alexa for Shopping, enables retailers to create tailored AI shopping tools quickly, with Kate Spade already utilizing the technology for a gifting assistant. This move reflects Amazon's strategy of monetizing its internal innovations by offering them as commercial services to the broader retail industry.

The AI boom drove Nvidia's yearly Taiwan spending from $15 billion to $150 billion

Nvidia's annual spending in Taiwan has skyrocketed from $15 billion to $150 billion, driven by the AI boom, as revealed by CEO Jensen Huang at a Taipei event. The company also plans to expand its workforce in Taiwan from 1,000 to 4,000 employees and is set to begin construction on a new campus in Taipei by late 2026, aiming for completion in 2030.

China turns its aging camera network into an AI-powered mass surveillance apparatus

China is significantly enhancing its surveillance capabilities by upgrading millions of aging cameras with AI technology from Hikvision and Huawei. This transformation allows for automated behavior analysis and text-based video searches, shifting the focus from merely identifying individuals to monitoring behaviors on a large scale. Rights experts express concern over the implications of this expanded surveillance, warning that it could lead to unprecedented levels of state monitoring by 2028.

Former Google and Apple Researchers Launch a Startup to Build AI’s Missing Feedback Loop

Former AI researchers from Google DeepMind, Apple, OpenAI, and Meta have launched a startup called Trajectory, which seeks to enhance AI products by enabling them to learn continuously from real-world user interactions. Trajectory has secured $15 million in seed funding to develop a platform that allows AI models to improve over time, addressing a significant challenge in the AI landscape where models typically remain static after initial training.

Daily Spotlight: Fed's Favorite Inflation Indicator

The Bureau of Economic Analysis is set to release the PCE Price Index, the Federal Reserve's preferred inflation measure, on Thursday. The latest forecasts suggest a headline inflation rate of 3.8% for April, up from 3.2% in the previous report, reflecting pressures from rising energy prices linked to the Iran war. Core PCE, which excludes food and energy, is expected to rise to 3.3%, indicating persistent inflationary trends despite earlier declines since summer 2022.

Sam Altman and Dario Amodei walk back their AI job apocalypse predictions

Sam Altman and Dario Amodei have recently softened their earlier predictions regarding the impact of AI on jobs, particularly in white-collar sectors. In a recent interview, Altman expressed relief at being incorrect about the expected job losses, while Amodei now views automation as enhancing productivity rather than threatening employment. This shift comes as both companies prepare for billion-dollar IPOs, with studies indicating no significant job losses in AI-exposed fields so far.

Samsung Galaxy flagships to see price hikes in June for some regions, report claims

Samsung is set to increase prices on various Galaxy smartphones, including the entire Galaxy S lineup and models like the Fold 7 and Flip 7, starting in June. This decision comes amid ongoing RAM shortages and rising production costs, marking a significant shift as Samsung has largely kept flagship prices stable until now.

Google folds Display Ads into AI-first Demand Gen platform

Google has officially folded its Display Ads into a new AI-first Demand Generation platform, aiming to enhance the effectiveness of digital advertising. This strategic shift is designed to leverage advanced AI algorithms for improved ad targeting and user engagement, aligning with Google's broader initiative to integrate AI technologies across its services.

OpenAI investigating ‘elevated latency’ issue affecting ChatGPT

OpenAI is currently investigating elevated latency issues affecting ChatGPT and its API, as users report slower response times. While a separate latency issue for FEDRamp users has been addressed with a fix, the broader latency concerns are still under review, with updates to be posted on OpenAI's status page.

Agents on a leash: Agentic AI remains mostly single-agent and monitored at work

AI's role in software engineering is expanding rapidly, with a recent survey revealing that agent usage has jumped from 31% to 59% among developers and professionals. While companies are increasingly adopting these tools, most users prefer single-agent workflows that require human oversight, indicating a cautious approach to full autonomy despite the operational benefits.

XREAL launches much more affordable ‘a01’ AR glasses, coming soon to the US for $299

XREAL has unveiled its new sub-brand, X by XREAL, which will focus on creating more affordable augmented reality glasses. The first product, the a01, will retail for $299 and is set to launch in the US this July. Weighing just 62 grams, the a01 offers a lightweight design and customizable front frames, although it features a reduced field of view compared to previous models.

Roku rolling out home screen redesign with AI-powered app organization, ‘Top Picks’ [Video]

Roku has rolled out a significant redesign of its home screen, introducing a 'Top Picks for You' section that prioritizes content from various streaming apps, along with AI-driven organization of frequently used applications. The layout maintains a familiar three-column design while enhancing user experience with features like 'Quick Access' for personalized app recommendations and customizable shortcuts for system functions.

Tech CEOs are apparently suffering from AI psychosis

The tech industry is witnessing a phenomenon dubbed 'AI psychosis' among CEOs, who are increasingly disconnected from the practical challenges of AI implementation. Box founder Aaron Levie argues that these executives often overestimate AI's capabilities, leading to significant layoffs as companies pivot towards automation. With over 115,000 tech workers laid off in 2026 alone, many firms are citing AI as a reason for job cuts, despite evidence suggesting that AI adoption does not guarantee productivity gains.