A "majority" of Federal Reserve officials believed the central bank could raise interest rates if inflation stays high, according to the minutes from the central bank's April 28-29 policy meeting.
Why it matters: It suggests that a larger constituency than previously known is backing the possibility of higher interest rates, with the fallout from the Iran war stoking quicker price increases ahead of Kevin Warsh becoming Fed chair.
OpenAI is working on a confidential IPO prospectus that could be filed shortly, although timing remains fluid, a person familiar with the situation tells Axios.
Why it matters: News of the planned filing, which was also reported by other outlets, seems timed to take some shine off the imminent IPO unveiling by Elon Musk's SpaceX.
Ride-sharing wars are heating up in New York, where an upstart service called Empower is undercutting Uber and Lyft prices by an average of nearly 30%, according to Obi, a real-time pricing aggregator.
Why it matters: Empower's explosive growth shows how hungry people are for a cheaper ride-sharing model, but officials allege the company is operating illegally.
Automakers and suppliers in search of a lucrative side hustle are dabbling in AI, energy and defense as a way to offset stagnant growth in vehicle sales.
Why it matters: Carmakers have tried the diversification game before — but today's economic and technological shifts may give those efforts more staying power.
Nvidia CEO Jensen Huang might need to lose the leather jacket, as a new crew of "cool kids" tops the chip sector.
Why it matters: As the largest U.S. company by market capitalization (now $5.4 trillion!), Nvidia has the single biggest influence on broad market cap-weighted indexes like the S&P 500.
So, the market will benefit if Nvidia maintains its mojo.
The Trump-class battleship, the first of which is estimated to cost more than $17 billion, will be nuclear-powered, according to Chief of Naval Operations Adm. Daryl Caudle.
Why it matters: The pronouncement ends months of debate about how — and how fast — the battleship will get around.
Navy leadership as late as the end of April described nuclear propulsion as "unlikely." Specs first published months ago have been in flux.
L3Harris Technologies anticipatesreceiving its first Nova night-vision production order from the U.S. Army as soon as this summer, but the exact size or number of devices remains unclear.
Why it matters: It's a milestone for the service's Binocular Night Observation Device effort, meant to democratize night vision and replace older models, like the AN/PVS-14.
Google is reinventing the product that made it one of the richest companies in history: search.
Why it matters: Search is the cash cow that funds Google's sprawling empire. But it faces an existential threat from AI chatbots, so the company is moving proactively to upend its own core business before someone else does.
House Democrats plan to push legislation regulating the use of AI in political ads if they retake power next year, Axios has learned.
Why it matters: The use of AI in election ads has exploded in the 2026 midterms, with some campaigns using the new technology to push the limits of negative campaigning.
The White House plans to release its much-discussed executive order on cybersecurity and AI safety as soon as this week, sources familiar with the matter told Axios.
Why it matters: In its current form, the orderseeks to bolster cybersecurity around advanced AI models and outlines plans for a voluntary framework for AI developers to inform the government about new releases, according to a readout shared with Axios and confirmed by a second source familiar with the plans.
