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NYTIMES (Tyler Pager, Maggie Haberman, Alan Feuer, Devlin Barrett and Annie Karni) - Trump Backs Off Plan for $1.8 Billion Fund That Drew Political Backlash

The fund has drawn backlash from critics who said it was a scheme to reward President Trump’s political allies with public benefits.

AXIOS (Yacob Reyes) - Florida sues OpenAI and CEO Sam Altman over ChatGPT

Florida Attorney General James Uthmeier on Monday sued OpenAI and its CEO Sam Altman, alleging that the company marketed ChatGPT to the public without sufficiently warning of its dangers. Why it matters: Florida is the first state to sue OpenAI, part of a growing string of lawsuits the state has filed against Big Tech companies, including Meta and Snapchat . Driving the news: The complaint argues that OpenAI ignored warnings from experts about ChatGPT, which the state says has "aided and abetted" mass shooters and encouraged vulnerable individuals toward suicide. - In doing so, the state alleges, the company acted negligently and violated Florida's prohibition on unfair and deceptive trade practices. - Among the examples of ChatGPT's…

AXIOS (Axios) - Alphabet seeks $80 billion to fund AI buildout

Alphabet said Monday it plans to raise up to $80 billion in equity to help fund its AI ambitions, which includes a $10 billion investment from Berkshire Hathaway via a private deal. Why it matters: One of the world's biggest companies, which has had historically high cash flow, is seeking more cash to stay in the AI race. Driving the news: Alphabet said the proceeds will support "capital expenditures to scale AI infrastructure and global compute" amid "unprecedented customer demand." The financing includes: - $30 billion in underwritten public offerings, split between mandatory convertible preferred stock and common stock. - $40 billion through an at-the-market stock offering program expected to begin in Q3. - $10 billion from Berkshire…