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Jon Keegan

Nvidia and other chipmakers push to stop impending “AI diffusion” rule

Unless the White House acts, a strict rule regulating the global spread of American AI technology will take effect on May 15.

Going above and beyond current export controls covering the most advanced AI hardware, the “AI diffusion” rule places countries into one of three tiers based on their geopolitical alignment in relation to the US:

- Tier 1 includes America’s closest allies: Canada, most of western Europe, Japan, Taiwan, and Australia. These countries face few restrictions on American AI technology. But the other tiers face caps on computing power exports and outright bans, depending on the country.

- Tier 2 includes India, Mexico, much of the Middle East, and most of South America. These countries would need to comply with tight US security regulations for any AI projects using American AI technology.

- Tier 3 contains US adversaries China and Russia. No chips or AI for you!

Bloomberg reports that AI chipmakers and world leaders are pushing the Trump administration to make changes to the rule before it takes effect. Companies want to shift away from formal government approval to a self-reporting mechanism for compliance.

Nvidia and Oracle both want the Trump administration to kill the rule outright, which is unlikely, according to the report.

The rule was put in place in the last weeks of the Biden administration.

- Tier 1 includes America’s closest allies: Canada, most of western Europe, Japan, Taiwan, and Australia. These countries face few restrictions on American AI technology. But the other tiers face caps on computing power exports and outright bans, depending on the country.

- Tier 2 includes India, Mexico, much of the Middle East, and most of South America. These countries would need to comply with tight US security regulations for any AI projects using American AI technology.

- Tier 3 contains US adversaries China and Russia. No chips or AI for you!

Bloomberg reports that AI chipmakers and world leaders are pushing the Trump administration to make changes to the rule before it takes effect. Companies want to shift away from formal government approval to a self-reporting mechanism for compliance.

Nvidia and Oracle both want the Trump administration to kill the rule outright, which is unlikely, according to the report.

The rule was put in place in the last weeks of the Biden administration.

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Jon Keegan

In December, the White House announced a new program to let wealthy foreigners get a shortcut to US citizenship — the Trump Gold Card. After paying a $15,000 application fee, passing a vetting process, and ultimately paying a $1 million “contribution,” the applicant gets a card in President Trump’s favorite color that grants the owner US citizenship “in record time.”

So, how many of these rich foreigners have received their shiny ticket to American residency? Commerce Secretary Howard Lutnick told a House committee today that only one of the cards has been issued, but “hundreds” of applications are being reviewed.

In December, Lutnick predicted that the cards could generate up to $1 trillion in revenue.

power
Jake Lahut

Who’s next to leave the Trump admin following Chavez-DeRemer’s departure?

After a few abandoned nominations and the occasional lateral demotion during President Donald Trumps first year in office, turnover has accelerated dramatically.

Just in the past month, top officials such as Attorney General Pam Bondi, Homeland Security Secretary Kristi Noem, and Labor Secretary Lori Chavez-DeRemer have left their posts.

Following a report from The Atlantic alleging heavy drinking and absenteeism plaguing FBI Director Kash Patel, the odds of his departure from the Trump administration in 2026 shot up sharply, with traders now pricing in an 80% chance he won’t last the year.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Tulsi Gabbard, the director of national intelligence, is another official who could be on the ropes. Her deputy, Joe Kent, has already resigned over the Iran war. Gabbards 2020 presidential campaign — and appeal in broadening Trumps electorate in 2024 — heavily centered around ending perpetual regime change wars. The White House has indicated to Gabbard that they want her gone before the midterms, but the timing of her departure remains vague, according to two sources familiar with the discussions who spoke to Sherwood News in recent weeks.

As for who will replace the outgoing members, pay attention to who can be confirmed by the Senate. To replace Bondi, a Trump adviser told Sherwood the most likely replacements are acting Attorney General Todd Blanche, Trumps former personal attorney, as well as EPA Administrator Lee Zeldin.

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Following a report from The Atlantic alleging heavy drinking and absenteeism plaguing FBI Director Kash Patel, the odds of his departure from the Trump administration in 2026 shot up sharply, with traders now pricing in an 80% chance he won’t last the year.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Loading...
 

Tulsi Gabbard, the director of national intelligence, is another official who could be on the ropes. Her deputy, Joe Kent, has already resigned over the Iran war. Gabbards 2020 presidential campaign — and appeal in broadening Trumps electorate in 2024 — heavily centered around ending perpetual regime change wars. The White House has indicated to Gabbard that they want her gone before the midterms, but the timing of her departure remains vague, according to two sources familiar with the discussions who spoke to Sherwood News in recent weeks.

As for who will replace the outgoing members, pay attention to who can be confirmed by the Senate. To replace Bondi, a Trump adviser told Sherwood the most likely replacements are acting Attorney General Todd Blanche, Trumps former personal attorney, as well as EPA Administrator Lee Zeldin.

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$1.4B
Rani Molla

In an effort to cement control ahead of SpaceX’s IPO, Tesla and SpaceX CEO Elon Musk bought $1.4 billion in shares of the rocket company from current and former employees last year, The Information reports, citing the confidential IPO prospectus.

The filing also revealed a moon shot incentive plan for the boss: Musk stands to gain 60 million more shares if SpaceX’s market cap increases to as high as $6.6 trillion and it completes a plan to build AI data centers in space. For its June IPO, the company is targeting a more than $2 trillion valuation.

power
Jake Lahut

Lori Chavez-DeRemer out at Department of Labor

Lori Chavez-DeRemer resigned as President Donald Trumps labor secretary on Monday, sources familiar with the matter told NOTUS.

Her tenure at the department was mired in scandal, including her husband being barred from headquarters after women employees reported he had touched them inappropriately. Chavez-DeRemer and a top aide reportedly texted women on staff to pay attention to the secretarys husband and her father around the office, according to The New York Times.

The departments inspector general had been investigating those messages and personal requests made of staff members.

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.