OpenAI said it has submitted a confidential S-1 filing, giving the ChatGPT maker the option to pursue an IPO. The move follows similar filings by Anthropic and SpaceX as major AI companies seek more capital for computing power and model development.
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President Donald Trump issued a full pardon to Stephen Buyer, a former Indiana Republican congressman convicted of insider trading. Buyer served nearly two years in prison and has maintained he was innocent.
U.S. employers added 172,000 jobs in May and the unemployment rate stayed at 4.3%, signaling a resilient labor market. The strong report comes as inflation and energy prices rise, complicating the Federal Reserve’s next interest rate decision.
President Trump is expected to announce $700 million in federal support for coal plants, new projects and a coal export terminal. The plan drew praise from the coal industry and sharp criticism from environmental groups.
SpaceX is seeking to raise $75 billion in a record IPO that would value the company at roughly $1.75 trillion. The company proposed a $135 share price ahead of an expected Nasdaq debut next week, though the final price remains uncertain.
The Trump administration proposed tariffs of 10% to 12.5% on 60 trading partners, accusing them of failing to block imports made with forced labor. The duties would affect countries accounting for nearly all U.S. imports but must clear a comment process before taking effect.
The Trump administration proposed 25% tariffs on Brazilian imports after a Section 301 investigation into trade practices including digital trade, deforestation and anti-corruption enforcement. Brazil’s President Luiz Inácio Lula da Silva denounced the move and said his government could retaliate.