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French President Emmanuel Macron delivers a speech during the annual French ambassadors conference. Photo: Yoan Valat/AFP/Getty Images

French asset managers and insurers pledged €5 billion for investment in local tech companies, as announced by President Macron before a dinner in Paris for VC and sovereign wealth fund managers.

Why it matters: This is France making a power play for foreign investment, at a time when leading European tech hub London is potentially vulnerable due to the Brexit chaos.

The bottom line: "France has directed billions in tax breaks and subsidies to domestic startups. But many have struggled to grow because they lack the financing Silicon Valley firms receive from VC funds and other investors, which often push them to scale up before going public. Successful French startups, by contrast, typically find a foreign buyer or relocate to the U.S. to list on Nasdaq," writes the Wall Street Journal's Noemie Bisserbe.

Go deeper: Trump administration probes French tax plan on Big Tech

Go deeper

Mike Allen, author of AM
2 mins ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78.

Ina Fried, author of Login
12 mins ago - Technology

Intel CEO blames predecessors for manufacturing woes

Axios on HBO

When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.

Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.

Marketing to Generation Alpha

Illustration: Rae Cook/Axios

Marketers are pouring money into figuring out the tastes and habits of Generation Alpha — kids born from 2010 through 2024— who are unprecedented in the extent they're growing up online.

Why it matters: They're weaned on TikTok, Amazon and in-app purchases. They're learning from their millennial parents to hold brands accountable for causes like social justice and sustainability. And no prior age cohort will be as large in size or marketing power.