FOX Business Network covers this week’s major news events. 0:00 | FULL BLOWN CONFLICT: Trump THREATENS Iran’s allies 11:31 | 'TOTAL DO-OVER': Burger King overhauls nuggets and sauces 18:50 | Nvidia CEO reveals why he decided to ‘RIP THE BAND-AID OFF’ 34:20 | Charles Payne: Kevin Warsh 'DELIVERED'
Nvidia CEO Jensen Huang met Tuesday with Commerce Secretary Howard Lutnick as the Trump administration investigates potential violations involving Nvidia chip exports to China, according to a source familiar. Why it matters: Huang is in Washington as the Trump administration finalizes a framework that would give the government early access to the most advanced AI models before their release. - Officials are also weighing their approach to open-source AI and China. Driving the news: Huang is holding meetings across Washington this week, including with Sen. Mark Warner (D-Va.), the top Democrat on the Intelligence Committee, and other members of Congress from both sides of the aisle. - Huang's trip had been previously reported, but not…
America has produced its own kind of Sputnik. We should not squander it.
OpenAI may give the U.S. government a 5% stake in the company, per the Financial Times . The proposal is in very preliminary conversations, according to a person familiar with the matter. Why it matters: If the overture is taken up by the Trump administration, that would mean the government would have a vested interest in weighing whether or not to limit the release of an OpenAI model. Catch up quick: OpenAI views the potential government stake as a way to give the general public a share of the upside of AI, and CEO Sam Altman has previously shared with Axios his interest in some sort of public wealth fund. - The goal is to include other AI labs giving over a similar stake. - This could look like including shares in Trump accounts or…
'grateful to the U.S.'
America's dependence on imported manufactured goods looks like a vulnerability in a world of widening geopolitical fractures . Fixing it won't come cheap. The big picture: New research from McKinsey, the global consulting firm, estimates that it would take $2 trillion, or about 6% of U.S. GDP, to build the industrial capacity needed to replace imports of key strategic goods. - That's the equivalent of two years' worth of the current annual defense budget — and doesn't even include the investment needed to cultivate the workers' skills, infrastructure and energy needs. - There is a particular dearth of American manufacturing capacity for advanced electronics, particularly AI servers, and key chemicals, the study finds. State of play:…