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Top stories today:
- Trump’s Mideast visit opens floodgate of AI deals involving NVIDIA
- CPI, core CPI rise less than expected as tariff fallout remains muted
- Longevity investment +122% to $8.5B in 2024
- Google unveils Material 3 Expressive design for Android, Wear OS
- Apple explores brain-signal tech to control iPhones
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Trump’s Mideast visit opens floodgate of AI deals involving NVIDIA, AMD, OpenAI
NVIDIA will supply “several hundred thousand” of its advanced AI chips to Humain over the next 5 years.
18K of NVIDIA GB300 Grace Blackwell and InfiniBand are among the initial supplies.
Humain also picked Groq for its inference work and tapped Aramco’s former digital head, Tareq Amin, as its chief.
AMD has partnered with Humain to spend $10B on AI infrastructure over the next 5 years.
Amazon and Humain will invest $5B+ to build an “AI zone” in Saudi Arabia.
Cisco will help Humain with its networking gear to build AI infrastructure.
Extended partnership with G42.
OpenAI is said to be planning a UAE data center to expand in the Middle East.
The UAE is rumored to import 500K advanced chips yearly from 2025 to 2027 under the deal.
20% would go to G42, with the remaining 80% for U.S. firms building data centers in the region.
Tue.: the Department of Commerce formally rescinded Biden’s AI diffusion rules, which were coming into force on May 15.
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3. CPI, core CPI rise less than expected as tariff fallout remains muted
CPI: 0.2% MoM / 2.3% YoY in Apr., vs. 0.3% / 2.4% expected, from -0.1% MoM, 2.4% YoY in Mar.
Core CPI: 0.2% / 2.8%, vs. 0.3% / 2.8% expected, from 0.1% / 2.8%.
Trump has pressured Fed Chair Powell to lower interest rates, citing a softer-than-expected inflation report
Egg prices declined by the most in Apr., while audio equipment costs jumped:
