QtrendsChina and Japan race ahead in AI investment push
China's AI developers, including Alibaba, Zhipu and DeepSeek, are pushing into trillion-parameter foundation models backed by lower costs and strong investor momentum despite ongoing US restrictions. Alibaba chairman Joe Tsai laid out the company's strategy at VivaTech: invest across the entire AI stack and figure out winners later. Meanwhile, Japan announced a $65 billion public-private target for physical AI investment by 2040, signaling intensifying competition across Asia.
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SpaceX has reached a landmark valuation with Elon Musk's stake now worth over $1 trillion, as bankers prepare a potential $20 billion investment-grade bond offering — the company's first. The move signals SpaceX's maturation from a privately held rocket startup into a financial heavyweight with access to debt capital markets. Other billionaire shareholders stand to benefit significantly as the company expands beyond rockets into AI and satellite communications.
Italian Prime Minister Giorgia Meloni has forcefully rejected Donald Trump's claim that she 'begged' for a photo with him at the G7 Summit, saying 'I never beg.' The diplomatic row escalated as Italy's top diplomat canceled a planned trip to the United States. The incident has strained US-Italy relations and dominated headlines from the summit.
A broad US-Iran framework is taking shape, with a former Trump official describing elements of the deal as 'enormously helpful' to Iran. The easing of tensions has pushed mortgage rates lower in the US, though a potential Fed rate hike clouds the outlook. The deal could reconnect Iran to the global economy, while Trump has given a 60-day window for implementation despite Israeli criticism. UK consumers may also feel the impact through five identified channels ranging from energy prices to trade.
Oil tanker traffic in the Strait of Hormuz has jumped significantly after the US and Iran implemented a deal to reopen the sea lane. Stranded ships that had been unable to transit are now moving through the strait, according to maritime data companies. However, the passage remains turbulent, and some vessels face continued uncertainty as the broader geopolitical situation unfolds.