Five of the Magnificent 7 reported earnings this week, and all but Meta had a positive stock move afterward, with Amazon hitting a record high.
Why it matters: The results, and the market's response, capture the debate now taking place on Wall Street over the AI rally: How much return can the tech giants get on their biggest bet ever.
It's not enough to talk about AI in general on earnings calls anymore. OpenAI in particular is the new buzzword, with 31 mentions on major corporate earnings transcripts so far this quarter, per an analysis by AlphaSense.
Why it matters: It signifies OpenAI's growing dominance over not just the AI ecosystem, but the market as a whole.
President Trump revealed Friday that he's remodeled the White House's Lincoln Bathroom, suggesting the new design makes the space more "appropriate" for the 16th president's era.
The big picture: The announcement comes after Trump knocked down the White House's entire East Wing for a new ballroom, which drew widespread backlash.
Amazon CEO Andy Jassy says the company's announcement of layoffs earlier this week wasn't about AI.
Why it matters: The cuts of 14,000 white-collar workers at the tech and retail giant have triggered fears of a growing AI job apocalypse, but labor market reality is more nuanced.
The job market slump we're seeing right now is complicated by other factors. AI — though certainly disruptive — is lower down on the list.
ESPN, ABC, National Geographic and more than a dozen other Disney-owned channels have disappeared from YouTube TV after the two companies failed to renew their content deal before expiration.
Why it matters: The blackout cuts off major sports programming, including NFL games and college football, for one of the largest pay-TV providers in the U.S. with more than 8 million subscribers.
Millions of families are bracing for empty EBT cards this weekend as SNAP benefits pause — spurring grocers, delivery apps and nonprofits to move fast to fill the gap.
Why it matters: The SNAP shutdown halts roughly $8 billion a month in federal food assistance — money that usually flows straight into grocery stores and helps feed 42 million Americans.
Wall Street is raising concerns about Big Tech companies using debt to fund their AI ambitions. That was evident as Meta tumbled 11% on Thursday after it posted strong results but increased capital spending plans.
Why it matters: Investors may not be willing to put up with the expense of an AI buildout forever, which could push some companies toward off-balance sheet financing methods that are harder to keep track of.
U.S. Customs and Border Protection is expanding its work with supply chain management firm Altana, signing a two-year federal contract to use its AI platform to monitor global supply chains, the company told Axios exclusively.
The big picture: The partnership is part of the administration's focus on federal AI procurement — a central pillar of PresidentTrump's AI action plan.
Axios reporters sat down with IBM CEO Arvind Krishna this week in Washington and talked about everything from quantum computing to taking risks during economic upheaval.
Why it matters: Krishna has led a turnaround at the legacy tech giant as AI reshapes the industry — and he says he's confident the technology's impact on jobs and productivity at IBM will be a net positive.
The White House is now sifting through hundreds of comments on AI regulation from industry and outside groups as it decides how to cut as much red tape as possible.
Why it matters: The Trump administration is touting this effort to cut barriers to AI development and deployment as key to the president's AI action plan.
Wall Street is licking its chops at the mere prospect of an OpenAI IPO, which could unleash a financial frenzy with little precedent if and when it arrives.
Why it matters: A stock offering — potentially two years away — is driven by necessity.
