Google today agreed to acquire cloud security firm Wiz for $32 billion in cash.

Why it matters: This would be Google's largest-ever acquisition and an early Big Tech antitrust test for the Trump administration.

Between the lines: The White House changeover has created "an uncertain regulatory landscape," but there are multiple reasons to believe the deal could pass muster, writes eMarketer senior analyst Evelyn Mitchell-Wolf.

• First, it "would align with the Trump administration's goal of strengthening U.S. posturing around AI on the global stage," she says.
• Second, the deal would be "beneficial to competition in the cloud market" because Wiz is cloud-agnostic.

The big question: Will Wiz stay cloud-agnostic or instead focus on Google Cloud (particularly as Google parent Alphabet has been leaning into security to differentiate from AWS and Microsoft)?

Flashback: Google and Wiz last year held failed deal talks at around a $23 billion valuation.

The bottom line: The deal "signals that Google believes we are entering a period of more favorable FTC treatment for big tech, despite [chair] Andrew Ferguson's pledge to closely scrutinize major tech deals," tech analyst Gene Munster writes.

Go Deeper with Axios Pro: Ferguson's FTC gives antitrust work a MAGA twist

Nvidia today previewed its next-generation chips and announced AI deals with General Motors and Taco Bell owner Yum Brands.

Why it matters: Nvidia operates at the center of the AI economy, so its announcements have a meaningful impact on investor sentiment.

Between the lines: Holding court at the company's annual GPU Technology Conference in San Jose, CEO Jensen Huang teased Nvidia's new AI system coming in the second half of 2026: Vera Rubin.

• "The system has two main components: a CPU, called Vera, and a new GPU design, called Rubin," CNBC reports. "It's named after astronomer Vera Rubin," who discovered evidence of dark matter.
• It "can manage 50 petaflops while doing inference, more than double the 20 petaflops for the company's current Blackwell chips."

Catch up quick: Huang said General Motors will integrate Nvidia technology into its future self-driving cars, and will tap the company's systems to help optimize its factories.

• Yum Brands will also work with Nvidia to accelerate its AI-powered drive-thru ordering.

The impact: Nvidia shares closed down 3.4% amid a broad sell-off in the so-called Magnificent 7 stocks.

🇨🇳 Costco is pressuring suppliers in China to reduce their prices in response to increased tariffs. Walmart made a similar request earlier this month. (FT)

🔌 BYD shares hit an all-time high in Hong Kong after the Chinese EV company and Tesla rival touted a breakthrough in charging technology. The new fast-charging system arrives in April. (Bloomberg)

📈 Nasdaq is opening its first regional headquarters in Dallas. The move comes after the New York Stock Exchange announced plans to launch a new equities exchange in Dallas. (WSJ)

Investment firm Sixth Street is acquiring 10% of Major League Baseball's San Francisco Giants.

Why it matters: Private equity continues its push into professional sports, as team valuations balloon to a point where few individuals can afford to buy whole franchises on their own.

Follow the money: Terms of the deal were not disclosed, but the Giants were valued by Forbes at $3.8 billion last March.

• The investment will primarily go toward renovating Oracle Park — a popular venue that's now 25 years old — and the Mission Rock real estate development next to the ballpark.

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