
Top stories today:
- Trump sides with Elon Musk in GOP fight over legal immigration
- OpenAI lays out for-profit transition plans
- Trump asks Supreme Court to pause law threatening TikTok ban
- U.S. economic growth set to top G-7 peers
- U.S. credit card defaults hit $46B in 2024, highest in 14 years
- Global cleantech funding -33% YoY to $29.7B in YTD 2024
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 todayās newsletter (beware of the few hallucinations):
1. Trump sides with Elon Musk in GOP fight over legal immigration

āAlways likedā H-1B visas, Trump told the New York Post on Sat.
Trump spoke after Elon Muskās clash with MAGA allies over immigrant workers.
Trump moved to restrict the H-1B visa program during his first term.
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3. OpenAI lays out for-profit transition plans

Existing for-profit arm will become a Delaware-based public benefit corporation to āraise more capital than weād imagined,ā OpenAI said.
PBC āwill run and control OpenAIās operations and business.ā
Nonprofit āwill hire a leadership team and staff to pursue charitable initiatives,ā OpenAI said.
Elon Musk, one of OpenAIās co-founders, has sought an injunction to block its for-profit shift.
Encode, a nonprofit co-sponsoring SB 1047, has also moved to block the transition.
The outlined plan has also been criticized by OpenAIās longtime policy researcher Miles Brundage
How OpenAI would āadvance safety and good policy,ā Brundage questioned.
Nonprofit would become a side thing, he worried.
4. Trump asks Supreme Court to pause law threatening TikTok ban









