US President Donald Trump is dispatching envoys to Pakistan in a renewed push for talks with Iran, even as uncertainty persists over diplomatic progress.
Google is deepening its artificial intelligence push with a multibillion-dollar investment in Anthropic, underscoring the intensifying race for computing infrastructure.
Intel shares surged after stronger-than-expected earnings signaled improving momentum in its AI-focused business.
Meanwhile, the US Department of Justice has dropped its criminal investigation into Fed chair Jerome Powell, potentially clearing the way for leadership changes at the Federal Reserve.
US pushes fresh Iran talks via Pakistan channel
The White House is preparing for a fresh round of diplomacy aimed at easing tensions with Iran, as special envoy Steve Witkoff and Jared Kushner are set to travel to Islamabad for potential discussions with Iranian officials.
White House Press Secretary Karoline Leavitt said the administration is optimistic about the talks.
“We’re hopeful that it will be a productive conversation and hopefully move the ball forwards towards a deal,” she said, adding that the US has “certainly seen some progress from the Iranian side in the past couple of days.”
However, uncertainty remains over whether Iranian Foreign Minister Abbas Araghchi will meet US officials, as Iranian state media previously suggested no such meeting was planned.
The diplomatic push comes amid heightened tensions in the Strait of Hormuz, where a US naval blockade continues to disrupt shipping. Trump said, “I have all the time in the World, but Iran doesn’t — The clock is ticking!”
Google deepens AI bet with Anthropic investment
Google is set to invest $10 billion in Anthropic, with the potential to commit an additional $30 billion tied to performance targets, highlighting the growing importance of infrastructure in the artificial intelligence race.
The deal values Anthropic at $350 billion and includes plans to expand its computing capacity significantly.
Google Cloud will provide 5 gigawatts of computing power over the next five years, with scope for further expansion.
Anthropic has also secured $5 billion from Amazon, with the option for an additional $20 billion, as investor interest in the startup continues to surge.
Intel rally signals shifting sentiment in chip sector
Intel shares rallied 23% after the company reported first-quarter earnings that exceeded expectations and issued strong guidance for the second quarter.
The chipmaker posted revenue of $13.6 billion and adjusted earnings of 29 cents per share, well above analyst forecasts.
It also projected second-quarter revenue between $13.8 billion and $14.8 billion, with adjusted profit of 20 cents per share.
Intel’s data center and AI division generated $5.1 billion in revenue, beating estimates, as demand for server processors improved.
The company’s turnaround narrative has gained traction following a key development in its foundry business.
Tesla is set to use Intel’s next-generation 14A manufacturing process, marking a significant customer win.
DOJ drops probe into Fed Chair Jerome Powell
The US Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, removing a key obstacle to confirming Kevin Warsh as the next central bank chief.
Jeanine Pirro said, “I have directed my office to close our investigation as the IG undertakes this inquiry.” She added, “Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.”
The probe had examined whether Powell misled Congress over a $2.5 billion renovation project at the Fed’s headquarters. A federal judge had previously quashed subpoenas related to the case, limiting its scope.
“I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas,” Pirro said.
The decision could ease the path for Warsh’s nomination, which had faced resistance from lawmakers, including Senator Thom Tillis.
The episode has also raised broader questions about central bank independence, particularly after Trump’s earlier attempt to remove Federal Reserve Governor Lisa Cook, a move now being contested in the Supreme Court.
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