Nvidia delivered record revenue and profit in the third quarter, exceeding expectations as CEO Jensen Huang reported "off the charts" demand for its advanced Blackwell chips.
Why it matters: Nvidia is positioned in the center of the tech universe — and its earnings are closely watched as an indicator of health of the booming AI economy.
President Trump's idea for $2,000 tariff rebate checks is falling flat with Senate Republicans.
Why it matters: Many senators think such a move would require Congressional authorization, and they'd rather see the money go toward reducing the deficit.
Larry Summers has worn many hats in public life: President Clinton's treasury secretary, OpenAI board member, Harvard president and economic advisor. But those roles are now overshadowed by the revelations that he kept in touch with Jeffrey Epstein until a day before the convicted sex offender's 2019 arrest.
Why it matters: Summers is the latest figure caught in the bipartisan push for transparency around Epstein's ties to powerful people.
Key White House officials are pressing lawmakers on Capitol Hill to keep AI chip export restrictions to China out of the annual defense policy bill, four sources familiar with the matter told Axios.
Why it matters: Nvidia would win big if the GAIN AI Act doesn't make it into the final version of the National Defense Authorization Act.
President Trump repeated his desire to force Federal Reserve chair Jerome Powell out, telling the U.S.-Saudi Investment Forum on Wednesday that "I'd love to fire his ass ... grossly incompetent."
Why it matters: The escalation of Trump's rhetoric against Powell comes just a day after the president said that he thinks he already knows who he will pick to be the next Fed chair.
The Federal Reserve was more divided than previously known about cutting interest rates, new minutes from the central bank's Oct. 28-29 policy meeting show.
Why it matters: With just weeks before the next meeting, it is unclear whether the Fed will cut rates again with the largest split among officials in years.
The Bureau of Labor Statistics will not release the October jobs report, citing the impact from the government shutdown, the agency said on Wednesday.
Why it matters: The lack of data will leave a key gap in economic policymakers' official understanding of how the struggling labor market fared this fall.
A booming stock market, fueled by a few buzzy names. CEOs predicting huge productivity gains from new technologies. Robust GDP growth, but job creation starting to crack.
That was the situation in the year 2000, and is the situation today, only accentuated by a sell-off in some of this cycle's big-name stocks the last few days.
The big picture: A close look at what happened during that turn-of-the-century business cycle can shed light on what might happen in the next couple of years, as companies implement labor-saving AI advances across their operations and investors wrestle with priced-for-perfection asset markets.
Companies will meet Thursday with an administration official to discuss President Trump's AI exports program, according to an invite seen by Axios.
Why it matters: The program — which promises to give companies exporting tech governmental incentives and other benefits — faces key questions after some industry players criticized its rollout.
Embraer is now marketing the A-29 Super Tucano as a drone killer, equipped with sensors, laser-guided rockets and .50 caliber machine guns.
The big picture: The drone-counter-drone dynamic is producing novel technologies and tactics; in Eastern Europe — a hot spot — everything from prop planes to AI-empowered turrets to helicopter door-gunners are fair game.
The administration is hopeful Americans won't necessarily spend the $2,000 tariff checks President Trump has promised, and instead pump them into "Trump accounts" for kids, Treasury Secretary Scott Bessent says.
Why it matters: Amid a growing affordability crisis, the Trump administration is arguing inflation is under control and prices will come down soon — while also raising the prospect of pumping hundreds of billions into the economy.
JPMorgan Chase on Wednesday announced more than $40 million in philanthropic funding to increase America's housing supply, including more than $20 million in grants and $20 million in flexible loans.
Why it matters: The funds will support innovative financing and construction models to expand and preserve housing, as well as home improvement loans for low- and moderate-income families.
A tech-friendly group, the AI Infrastructure Coalition, will launch Wednesday evening with a reception near the White House, to advocate for "every layer of the AI tech stack — from semiconductor manufacturers and energy providers to hyperscalers, data-center operators, private equity, and AI model developers."
Why it matters: AIIC, which debuts as data centers are becoming a flashpoint nationwide, tells Axios the group will push for President Trump's AI Action Plan and push back on increased scrutiny of the industry.
A single loose wire on a cargo ship caused a power outage that led to the Baltimore bridge collapse that killed six highway workers last year, a National Transportation Safety Board (NTSB) report released Tuesday found.
The big picture: "This tragedy should have never occurred," NTSB Chair Jennifer Homendy said at a Tuesday hearing on the agency's findings into how the Dali ship crashed into the bridge, leading to its collapse that blocked full access to the Port of Baltimore's main shipping channel until June.
President Trump said Tuesday evening that he has formally designated Saudi Arabia as a major non-NATO ally, aiming to deepen military cooperation between the two nations.
The big picture: The announcement follows Trump's meeting with Saudi Crown Prince Mohammed bin Salman (earlier on Tuesday, when MBS pledged to up Riyadh investments in the U.S. from $600 billion to $1 trillion.
Saudi Arabia committed to buying hundreds of U.S.-made tanks, part of a larger spending-and-security conversation between the two countries, the White House said.
Why it matters: It's a massive, long-term commitment — and one that appears to shrug off doubts regarding the tank's role on the battlefield of the future.
