After reports of OpenAI missing its own revenue targets, investors soured on tech stocks on Tuesday, putting the entire market under pressure as a result. But investors in the private AI labs are unfazed.
Why it matters: The AI bulls aren't going anywhere.
Elon Musk's lawsuit against Sam Altman ostensibly is about OpenAI's pivot to a for-profit model, after having been founded for more altruistic purposes.
What really matters, however, is if either side can expose damaging information about the other. Almost regardless of the jury verdict.
Tesla's admission that millions of its older cars can't support full self-driving underscores a new reality: software-driven vehicles are starting to age like smartphones — but without an easy upgrade path.
Why it matters: Cars last far longer than phones — about 13 years on average — setting up costly headaches as their hardware struggles to keep up with rapidly evolving features.
The Iran war is trapping the world's central banks with an energy shock that simultaneously undermines growth and stokes inflation, with no good policy response to either.
Each of the world's most important central banks faces that dilemma in policy meetings this week.
Why it matters: From Tokyo to Washington, central banks that were on track to normalize policy are now paralyzed, unsure whether the energy price shock will prove more consequential in causing sustained inflation or in sapping growth.
It's not just Congress — the corner office is graying, too, with the average American CEO now 61, up from around 51 two decades ago, a new working paper finds.
Why it matters: It's a mixed bag: Older leaders tend to manage businesses that grow more slowly and are less likely to radically innovate, the study finds, in line with prior research. But they also appear to be better at managing companies through more uncertain economic times.
The share of Americans who say their financial situation is getting worse is higher now than at any point in the past 25 years, per new Gallup data out Tuesday morning.
Why it matters: Americans are struggling after years of higher inflation and a recent surge in gas prices due to the Iran war — a major challenge for President Trump and Republicans as the midterm elections come into view.
The chances of a mega-merger in the airline industry now appear slim, but a spike in jet fuel prices still has the weakest players scrambling for options.
Why it matters: A prolonged rise in jet fuel prices — a quarter of an airline's costs — will widen the divide between the haves and have nots in the industry, potentially winnowing out some of the budget players.
HUNTSVILLE, Ala. — Leaders across government and industry are racing to expand workforce pathways as north Alabama's growth accelerates beyond its aerospace roots.
Why it matters: Huntsville's reputation as "Rocket City" helps attract talent and investment, but long-term expansion depends on diversifying industries and building broader, earlier growth opportunities for young people.
Axios' Colin Demarest and Derek Lacy moderated conversations with Huntsville Mayor Tommy Battle, Lockheed Martin Space president Robert Lightfoot and Blue Origin government relations vice president Megan Wilson Green. The event was sponsored by JPMorgan Chase.
Driving the news: A recent WalletHub analysis ranked Huntsville the No. 10 best city in the country for job-seekers.
By the numbers: 23% of Huntsville's workforce is in STEM, according to the Huntsville Business Journal, citing a study from CoworkingCafe.
Huntsville has the most engineering professionals per capita in the U.S., Battle said.
Yes, but: "We have to grow in more ways," Battle warned. Huntsville can't have "all of our eggs in one basket."
What they're saying: The area needs to expand in terms of who they're reaching and the skills they're prioritizing.
"We're not just trying to reach students, we're trying to reach veterans … and other individuals wanting to transition," Wilson Green said.
"We need to be reaching out to students in kindergarten and in fifth grade … before they become a senior in high school."
What's next: Employers like Lockheed Martin say the workforce must blend traditional trade with advanced tech skills.
"We still need technicians. We still need welders … just like we need engineers," Lightfoot said.
Content from the sponsor's segment:
In a sponsored View From the Top segment, Brian Lamb, head of specialized industries and co-head of impact banking and advisory at J.P. Morgan Commercial Banking, told Axios publisher Nicholas Johnston that the organization is focused on outcomes.
There's "a lot of momentum in Huntsville," he said, and JPMorgan is thinking about "how do we help Alabamians get a good job, advance their careers [and] get a good education?"
"How can we make a difference to go faster … to accelerate some of the really interesting things happening at a really hyperlocal level?"
AI is changing how people decide what to buy, raising the stakes for physical stores.
Why it matters: More of the shopping journey is happening before consumers ever enter a physical store, a new report shows — pushing retailers to rethink what brick-and-mortar is really for.
This is shaping up to be a momentous week for the Federal Reserve. What comes next for the Fed's leadership has come into clearer focus in the last three days, but one big question hangs over the institution.
The big picture: On Wednesday, the Senate Banking Committee is set to advance Kevin Warsh's nomination to lead the Fed, after Sen. Thom Tillis (R-N.C.) indicated his satisfaction with the Justice Department backing down from its investigation of chair Jerome Powell.
Chinese regulators have ordered Meta to unwind its $2.5 billion acquisition of Manus AI, developer of a general AI agent that it claims can complete real-world tasks
Why it matters: It's an escalation of AI tensions between Beijing and D.C.
Joshua Kushner's Thrive is now investing in pro sports, agreeing to buy a small stake in the San Francisco Giants.
It's being done via a new holding company called Thrive Eternal, which will focus on assets with "qualities that cannot be replicated by technology."
Why it matters: This feels like an asset-gathering gambit by Thrive, which now joins the same IPO watchlist as General Catalyst and Andreessen Horowitz.
Health care, housing, and access to credit all share a common thread: affordability depends heavily on sound financial behavior.
The solution: The FICO® Score plays an integral role in promoting affordability for consumers when they open a credit card, buy a car or purchase their first home.
Spotify is pushing deeper into wellness, launching guided workouts and teaming up with Peloton to bring more than 1,400 classes to its platform, the companies announced Monday.
Why it matters: Spotify is pushing beyond audio to become a daily habit, while Peloton gains global distribution as it looks to grow beyond hardware.
Comebacks in the tech industry are rare, but Intel is in the middle of an all-time turnaround: The chipmaker's stock is up 110% for the year, and it reached a new all-time high Friday, 25 years after hitting the last one.
Why it matters: The AI transition is creating clear winners and losers in the tech industry, and right now, pick-and-shovel hardware companies are slaying, while software and services firms are suffering.
Iran gave the U.S. a new proposal to reopen the Strait of Hormuz and end the war, with nuclear negotiations postponed for a later stage, according to a U.S. official and two sources with knowledge.
Why it matters: The diplomacy is in a stalemate, and the Iranian leadership is divided about what nuclear concessions should be on the table. The Iranian proposal would bypass that issue en route to a faster deal.
