Axios

Oil prices jumped above $90 per barrel Sunday in the first major trading since the deaths of three U.S. service members and escalating Middle East hostilities.

Why it matters: Higher oil prices could quickly translate into more expensive gasoline for consumers and diesel for freight carriers while increasing inflation risks worldwide.

A senior Trump administration official and key adviser are slamming OpenAI head of strategic futures Dean Ball's views on regulation, casting a shadow on the future of the company's relationship with the government.

Why it matters: The criticism targets a former White House architect of the administration's AI Action Plan who now works at OpenAI, potentially complicating the company's relationship with the Trump administration.

The boom that powered semiconductor stocks to record-setting heights just last month is now sputtering.

Why it matters: Chipmakers are the picks and shovels of the AI gold rush, and they are now looking shaky.

• A recent selloff, combined with new stress over competition from Chinese open-source AI models, is raising concerns over the durability of the AI trade more broadly.

Just when Republicans thought they'd caught a break on gas prices, the collapse of President Trump's Iran deal is derailing their best chance to change the inflation story before the midterms.

Why it matters: Falling gas prices are one of the most tangible ways to ease voter anger over inflation. Renewed combat — and the threat of escalation — has prices shooting back up.

Creator commerce has evolved from an experimental marketing tactic into a core strategy for retailers, as brands bet that trusted human recommendations will matter even more in the AI era.

Why it matters: The shift is motivating brands to rethink how they recruit, manage and measure creator relationships.

Nearly half of the major media networks launched since 2022 have come from companies outside traditional retail, according to an Axios analysis.

Why it matters: Any company with customer relationships could try to become a media company.

Live shopping is projected to more than triple in the U.S. by the end of the decade as retailers, creators and streaming platforms embrace the format.

Why it matters: After years of failed attempts to replicate China's livestream shopping boom, the U.S. market is finally gaining momentum.

The retail industry is emerging as one of AI's biggest commercial winners, forcing companies to embrace bots as buyers and incentivizing rivals to work together to capture new business.

Why it matters: While creative sectors try to prevent AI companies from scraping their content, retailers are inviting them in and betting AI shopping assistants will become a new source of customers.

Trump Accounts for children went live July 4, and the government's one-time $1,000 contributions are now landing in accounts for eligible kids.

The big picture: Families are latching onto the new IRA-style accounts for kids, with 6.5 million signups so far, per the U.S. Treasury Department. Here are answers to parents' common questions.