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Top stories today:
- Perplexity said to be in talks to raise $500M at $14B valuation
- Trump signs order giving drugmakers 30 days to āequalizeā prices
- White House cuts āde minimisā tariff on China shipments to 54%
- Samsung Galaxy S25 Edge debuts with 5.8ā thickness
- U.S. inflation seen rising in Apr., with CPI, core CPI forecast at +0.3%
0. Data and calendar
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Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Perplexity said to be in talks to raise $500M at $14B valuation
Accel could lead the new round.
Perplexityās Comet browser is expected to challenge Chrome and Safari.
Apple is considering adding AI search engines including Perplexity onto Safari.
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3. Trump signs order giving drugmakers 30 days to āequalizeā prices
RFK Jr.ās health department will negotiate the new drug prices this month.
Kennedy will draft a rule linking U.S. drug prices to those abroad if no deals are made.
Drug prices could drop 59%-80%, or āI guess even 90%,ā Trump said.
Unclear how much the policy could reduce prices for patients, health policy experts said.
āChallenging to practically implementā due to legal and congressional hurdles, JPMorgan analysts noted.
Shares of Gilead +7%, Merck +5%, Pfizer +3%, and Eli Lilly +2% after the announcement.
Trumpās 1st-term drug price push collapsed over legal challenges.
4. White House cuts āde minimisā tariff on China shipments to 54%
