Axios

Israel Ambassador Mike Huckabee's meeting with an American convicted of spying for Israel is adding to MAGA's festering divide over the United States' ties to Jerusalem.

Why it matters: The right's outrage over Huckabee's visit with Jonathan Pollard — and the White House's defense of it – showed that the movement's fissure over how closely to align with Israel isn't closing anytime soon.

Rep. Eugene Vindman (D-Va.) urged President Trump to release the "shocking" transcript of a 2019 phone call with Saudi Crown Prince Mohammed bin Salman (MBS) following the murder of Washington Post journalist Jamal Khashoggi.

The big picture: Vindman's request comes just days after Trump hosted MBS in the Oval Office and said "a lot of people didn't like" Kashoggi, when asked about the murder. U.S. intelligence previously concluded that MBS ordered Khashoggi's killing.

Russian President Vladimir Putin said Friday that he believes President Trump's 28-point peace plan could serve as the basis for a peace deal, while stressing that in-depth negotiations are still needed.

Split screen: Shortly before Putin's remarks, Ukrainian President Volodymyr Zelensky said in an address to the Ukrainian people that he was under immense pressure to sign a deal within days that he fears would sacrifice Ukraine's "dignity." Putin doesn't appear to face a similar time crunch, or the same degree of pressure.

President Volodymyr Zelensky addressed the Ukrainian people on Friday and said President Trump's 28-point peace plan will force Ukraine to choose between "losing our dignity" or risking the loss of U.S. support.

Why it matters: The plan would force Ukraine to accept harsh concessions, including the loss of even more territory than Russia currently controls. Zelensky has told the Trump administration he's prepared to negotiate, but the White House is pushing him to sign within one week.

Ukrainian President Volodymyr Zelensky spoke with Vice President Vance on Friday about the U.S. proposed peace plan for Ukraine, according to two sources with knowledge.

Why it matters: The call was the highest-level engagement between the U.S. and Ukraine about the new plan. Zelensky told the Trump administration he's ready to negotiate, but President Trump wants a signature by Thanksgiving.

European defense could be an alternative tech play as AI stocks in the U.S. come under pressure, J.P. Morgan Private Bank says in its 2026 outlook.

Why it matters: Defense budgets are technology budgets now, particularly in Europe as nations there work to shore up their militaries and infrastructure in the face of the Russian threat.

What they're saying: The market isn't pricing European defense "as a secular story like it is AI, and we think it's on the same level," Jacob Manoukian, U.S. head of investment strategy at J.P. Morgan Private Bank, tells Axios.

• Defense spending in Europe could double from current levels, he says. European countries are shoring up power supplies amid the AI boom.
• That could fuel investments across electrification and industrial firms, as well as across the traditional defense sector, according to the outlook.
• The European defense sector has rallied over 20% this year as the "sell America trade" ballooned, but is in "year three" of a "decade trend."

Zoom in: Higher wholesale prices and reliance on energy imports make electricity prices higher in Europe compared with the U.S.

• That problem could be exacerbated by AI, which requires lots of energy.
• Europe also lost 30% to 40% of its electricity input from Russian pipeline gas following the invasion of Ukraine, according to Manoukian.
• Europe, he says, will have to spend more to build LNG import terminals to ensure lower energy costs in a fragmented world centered on AI.

Between the lines: The bet on Europe is also about diversification.

• "The investment opportunity in European names is differentiated relative to the story in the U.S.," says Stephen Parker, co-head of global investment strategy at J.P. Morgan Private Bank.

Zoom out: Investing internationally becomes "that much more important" as the world's superpowers step back from globalization, Manoukian says.

The mayors of Phoenix and Melbourne, Australia, are leading a global commitment with eight other mayors to ensure that companies build AI systems more sustainably.

Why it matters: Mayors are on the front lines of the global data center boom. They respond to residents' concerns, rising energy prices, water management issues and other infrastructure demands.

Saudi Arabia's leader on Tuesday downplayed the kingdom's role in the 9/11 attacks. But an ongoing federal court case is revealing new details about Saudi officials' alleged ties to the terror plot — and the potential liability that government faces.

• The lawsuit unearthed evidence showing one Saudi official — who acknowledges aiding two men who became hijackers — made a drawing of a plane and a mathematical formula that allegedly could have been used to fly into the World Trade Center.

Why it matters: A crucial U.S. ally, Saudi Arabia's oil-rich kingdom was the first foreign sovereign to be sued in U.S. federal court under the Justice Against Sponsors of Terrorism Act of 2016 for the attacks that killed 2,977 people.

President Trump's peace plan for Ukraine includes a security guarantee modeled on NATO's Article 5, which would commit the U.S. and European allies to treat an attack on Ukraine as an attack on the entire "transatlantic community," according to a draft obtained by Axios.

Why it matters: Trump's plan demands painful concessions from Ukraine, but it also includes an unprecedented promise. President Volodymyr Zelensky's top objective in peace talks is to obtain a robust U.S. and European security guarantee, and this is the first time Trump has been willing to put one on the table.

Editor's note: For the latest on the Trump peace plan for Ukraine, click here.

President Trump's 28-point plan for peace in Ukraine would force Kyiv to give up additional territory in the east, cap the size of its military, and agree it will never join NATO, according to a draft obtained by Axios and verified by a Ukrainian official, a U.S. official and a source familiar with the proposal.

Why it matters: The U.S. side is pushing Ukraine to make a deal on an "aggressive timeline." And despite the plan including proposals Ukraine has repeatedly rejected up to now, President Volodymyr Zelensky is not ruling it out.

A bipartisan group of lawmakers is demanding answers from fast-fashion giant Shein over the possible sale o U.S. consumers of dolls "with a childlike appearance."

The big picture: The rare cross-party scrutiny piles onto years of criticism the Chinese-founded online retailer has faced over its environmental and labor practices and comes as it contends with new trade barriers to its sale of ultra-cheap goods.

Ukrainian President Volodymyr Zelensky told U.S. Army Secretary Dan Driscoll on Thursday that he's willing to work with the Trump administration on its new plan for peace in Ukraine, U.S. and Ukrainian officials tell Axios.

Why it matters: The plan calls on Ukraine to make enormous concessions, including handing over territory to Russia that Ukraine currently controls. But rather than reject it outright, Zelensky agreed to negotiate — and his office said he expects to discuss it with President Trump in the coming days.

The Middle East is fast becoming not just a deep-pocketed investor in AI but a hot spot for data centers, highlighted by a new wave of Saudi deals announced Wednesday.

Why it matters: Allowing these deals is part of a strategic effort to ensure Saudi Arabia and other countries in the Middle East adopt U.S. technology rather than AI systems from China.

President Trump and New York City Mayor-elect Zohran Mamdani will meet at the White House on Friday, both sides confirmed on Wednesday night.

Why it matters: Trump and Mamdani have been critical of each other for months, and the president threatened to withhold federal funding for NYC if the democratic socialist won the mayoral election.