California expected a tax bonanza from AI IPOs. Modern compensation structures may blunt the windfall.
California expected a tax bonanza from AI IPOs. Modern compensation structures may blunt the windfall.

SpaceX is now valued at $2.5 trillion. OpenAI and Anthropic are expected to go public later this year at valuations approaching $1 trillion each. California, where all three companies are based or have significant operations, should be looking at the l…

Attackers cracked 75,000 Fortinet firewalls with old passwords, not a zero-day
Attackers cracked 75,000 Fortinet firewalls with old passwords, not a zero-day

Security researchers have uncovered a sprawling cache of stolen credentials for Fortinet firewalls, exposing login details for tens of thousands of organisations around the world. The dataset, dubbed “FortiBleed,” contains plaintext usernames, emails a…

EU tells Big Tech to align AI data centres with climate goals or stay away
EU tells Big Tech to align AI data centres with climate goals or stay away

The European Union’s energy chief has told the AI industry it is welcome in Europe, but only on the bloc’s terms. In an interview with Politico, Energy Commissioner Dan Jørgensen said companies must demonstrate commitment to the EU’s energy, climate, a…

ECB’s Lagarde says AI could trigger financial crises and calls for Cold War-style non-proliferation governance
ECB’s Lagarde says AI could trigger financial crises and calls for Cold War-style non-proliferation governance

ECB President Christine Lagarde warned on Wednesday that artificial intelligence could trigger dangerous financial crises and called for global AI governance modelled on the Cold War-era non-proliferation agreements that kept the world safe from nuclea…

China pitches free AI for the developing world as the G7 debates who gets access to American models
China pitches free AI for the developing world as the G7 debates who gets access to American models

China’s top diplomat Wang Yi announced on Wednesday that Beijing is “accelerating the establishment of a global AI cooperation organization” and invited all countries to join. The comments came as the G7 summit in France wrapped up with discussions abo…

FTC freezes sprawling subscription enterprise built on Cyprus and Delaware shells
FTC freezes sprawling subscription enterprise built on Cyprus and Delaware shells

A federal court has temporarily shut down what the US Federal Trade Commission describes as a sprawling enterprise of deceptive subscription apps, freezing the operations of 15 corporations and eight individuals accused of charging consumers without pe…

France breaks EDF’s grip on hydropower with law to auction 6 GW a year
France breaks EDF’s grip on hydropower with law to auction 6 GW a year

France’s Parliament adopted a bill on Tuesday that dismantles the monopoly Électricité de France has held over the country’s hydropower market for decades, according to Bloomberg. The law converts EDF’s hydropower concessions into permits and requires …

Anthropic and Google DeepMind called for a US-led AI coalition at the G7, and Canada said yes
Anthropic and Google DeepMind called for a US-led AI coalition at the G7, and Canada said yes

Anthropic CEO Dario Amodei and Google DeepMind’s Demis Hassabis used a closed-door lunch at the G7 summit on Wednesday to call for a US-led coalition that would shape international rules and standards for artificial intelligence, according to two peopl…

Meloni says banning kids from social media is not a solution on its own
Meloni says banning kids from social media is not a solution on its own

Italian Prime Minister Giorgia Meloni said on Wednesday that her government would not take the initiative to introduce a social media ban for teens, breaking from the approach taken by Britain and France. “I am not against a social media ban for under-…

Britain lobbied Trump for an exemption from the Anthropic AI ban. The answer was no.
Britain lobbied Trump for an exemption from the Anthropic AI ban. The answer was no.

Sir Keir Starmer’s government spent the weekend lobbying the White House to restore British access to Anthropic’s most capable AI models. A source close to President Trump told The Telegraph there was “zero chance” of a UK carve-out. The rejection land…