Axios

David Sacks, the venture capitalist advising President Trump on crypto and AI policy, is apparently divesting his holdings in foundational AI companies and hyperscalers like xAI and Meta, according to a White House memo posted online Friday.

• The White House previously disclosed that Sacks and his firm, Craft Ventures, divested around $200 million of crypto-related assets.

Why it matters: Sacks entered the Trump administration with a slew of investments that could have created conflicts of interest, or at least perceptions of them, but has taken steps to minimize that risk.

Meta has finalized a deal to pay around $15 billion in cash for a 49% stake in Scale AI, sources told Axios.

Why it matters: The deal will help transform Meta's AI efforts, but also raises big questions for the future of Scale, a company best known for labeling data for all the major AI players, including Google and OpenAI.

Mattel is teaming up with OpenAI to create AI-enabled toys, but don't expect to unwrap a ChatGPT Barbie this winter holiday, a source tells Axios.

Between the lines: Mattel hasn't decided if its first AI product will be a toy, a "digital experience" or something else — and hasn't picked which brand to start with.

President Trump will appear at Sen. Dave McCormick's (R-Pa.) inaugural Pennsylvania Energy and Innovation Summit next month in Pittsburgh to discuss AI, energy and labor, McCormick's office tells Axios.

Why it matters: Trump's attendance at the July 15 summit at Carnegie Mellon University is a big win for McCormick's efforts to bring AI and energy leaders together for the first time.

The challenge: Designing, testing, analyzing and optimizing a business process, system or product before it hits the real world isn't just complex, it's a race against time. Enterprises must balance speed with precision, making high-stakes decisions based on incomplete data, all while navigating shifting market demands and rising customer expectations. In today's fast-moving landscape, getting it wrong isn't an option, but getting it right, fast, is the real challenge.

OpenAI's ChatGPT has been the fastest-growing platform in history ever since the chatbot launched 925 days — 2½ years — ago. Now, CEO Sam Altman is moving fast to out-Google Google.

Why it matters: OpenAI aims to replicate the insurmountable lead that Google built beginning in the early 2000s, when it became the world's largest search engine. The dream: Everyone uses it because everyone's using it.

Veteran journalist Terry Moran, who abruptly left ABC News after calling President Trump and top aide Stephen Miller "world-class" haters, announced Wednesday that he's moving to the newsletter platform Substack.

What he's saying: "For almost 28 years, I was a reporter and anchor for ABC News, and as you may have heard, I'm not there anymore," Moran said, breaking his silence on his departure after ABC called his since-deleted X post "a clear violation of ABC News policies."