Michael Cohen, former President Trump's onetime fixer, portrayed himself today as a loyalist hellbent on protecting his boss from drama that could undermine his business empire, reputation — and the 2016 presidential campaign.

• Why it matters: The pivotal testimony in Trump's New York hush money trial could help determine whether the presumed GOP presidential nominee is ultimately convicted of a crime, Axios' Erin Doherty reports.

Zoom in: Cohen, the prosecution's star witness, recalled how he feared adult film actress Stormy Daniels' allegations of a sexual encounter with Trump would be "catastrophic" to the campaign.

• Cohen said Daniels' story, which came after the "Access Hollywood" tape, stood to poison Trump's shot with women voters.
• Cohen outlined how Trump directed him to "just take care of" the $130,000 payment to Daniels to keep quiet. "Just do it," Trump said, according to Cohen.
• Cohen testified that Trump signed off on reimbursing him for hush money payments after they met with ex-Trump Organization CFO Allen Weisselberg.

🗞️ Between the lines: Cohen detailed his collaboration with ex-National Enquirer publisher David Pecker in a catch-and-kill scheme to quash negative stories about Trump.

• Cohen testified that he would "immediately show" Trump covers of issues he was sent before they came out.

Go deeper.

OpenAI announced today a new flagship model, GPT-4o ("o" for "omni"), which offers smarter and faster real-time voice abilities. It'll be available in the coming weeks, Axios AI+ author Ina Fried reports.

• Why it matters: OpenAI, parent company of ChatGPT, is trying to hold its lead in the generative artificial intelligence race as Google, Microsoft and Apple gain edge.

In demos, GPT-4o showed considerably better personality and conversational skills than previously.

• A more major update to the underlying model — the successor to GPT-4 — is due to be unveiled later this year, OpenAI CTO Mira Murati told Axios.

🖼️ The big picture: The OpenAI event came a day before Google's I/O developer conference, which is expected to focus on generative AI.

• Keep reading.

1. 📈 Meme stocks, including GameStop and AMC, soared today as speculation grew that Keith Gill — aka "Roaring Kitty" of WallStreetBets fame — was getting back in the game, Axios' Pete Gannon reports.
2. 💼 Melinda French Gates resigned from the Bill & Melinda Gates Foundation. She's departing with $12.5 billion to commit to programs for women and children, Axios' Michael Flaherty reports.
3. ⚡ Scoop: Republican Kari Lake is planning her first major ad blitz in her Arizona Senate campaign, with a $10 million buy. Her Democratic opponent, Rep. Ruben Gallego (D-Ariz.), has so far outspent her, Axios' Stephen Neukam reports.
4. 🚨 Israel proposed the Palestinian Authority unofficially operate the Rafah crossing last week, officials told Axios' Barak Ravid.

The business of laughter has been growing over the last decade — closing in on $1 billion in ticket sales for live comedy shows last year, Axios' Hope King writes.

🔌 The big picture: Social media and streaming platforms have enabled jokes and personalities to reach wider audiences than ever.

• Netflix's investments in comedy specials have also fed the fanbase.
• And with the success of "Last Week Tonight With John Oliver" and Jon Stewart's return to "The Daily Show," comedians are encroaching on journalists' turf.

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