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Jake Lahut

Strait of Hormuz is closed to all oil tankers and commercial ships, Iran military says

In retaliation to US strikes, the Islamic Republic of Iran announced that the Strait of Hormuz is fully closed as of early Thursday morning in Tehran.  The attacks from the US were separate from a series of retaliatory drone and missile launches overnight Tuesday into Wednesday.

President Donald Trump told Fox News in a phone interview on Wednesday night that "the bombing will stop soon," but if Iran doesn't sign the agreement put forward by special envoys Steve Witkoff and Jared Kushner, "We'll bomb the shit out of them tomorrow night."

When asked whether the ceasefire still stands, Trump described it as "the most violated ceasefire in the history of the world," according to Fox News.

According to Al Jazeerah, Iran’s Mehr news agency reported that Iran's joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.

This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.

US CENTCOM announced the series of strikes beginning at 5:15 P.M. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ‘em hard tonight” before later claiming he would not broadcast whether the military would take any action.

Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported two ships attempting to cross were attacked.

This story is developing.

Iran’s top joint military command says Strait of Hormuz closed

When asked whether the ceasefire still stands, Trump described it as "the most violated ceasefire in the history of the world," according to Fox News.

According to Al Jazeerah, Iran’s Mehr news agency reported that Iran's joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.

This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.

US CENTCOM announced the series of strikes beginning at 5:15 P.M. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ‘em hard tonight” before later claiming he would not broadcast whether the military would take any action.

Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported two ships attempting to cross were attacked.

This story is developing.

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Jake Lahut

United States and Iran trade retaliatory strikes, escalating war and rattling ceasefire

The war in Iran is heating back up. Overnight, both sides have been trading hostilities in a series of retaliations to other retaliations.

It marks the most robust escalation in combat since the April 8 ceasefire announcement.

Oil prices were little changed, with Brent crude futures down 0.48% as of 5:30 a.m. ET. At the same time, S&P 500 futures were down nearly 0.7% and the tech-heavy Nasdaq Composite had slipped 1.18%, as the escalations compounded a broader AI sell-off.

Travel stocks, like United Airlines and Royal Caribbean, which got a boost on Tuesday as oil prices fell, lost some of those gains in premarket trading. Meanwhile, oil giants such as Chevron and Exxon ticked higher and chipmakers such as Arm Holdings and Micron continued to slip.

The escalation ladder began ratcheting back up when Iran shot down an American helicopter with a drone while it was patrolling the Strait of Hormuz, a US official told NBC News. US forces then conducted strikes in Iran’s Qeshm Island, Sirik, Jask, and Bandar Abbas, according to Al Jazeera. In response, Iran attacked a US fleet in Bahrain, Al Jazeera also reported.

“The Iranians are trying to make clear that any attack on them would be responded to, regardless of the size and the scope,” Trita Parsi of the Quincy Institute for Responsible Statecraft in the US told Al Jazeera. “Now, of course, whether they are seeking to escalate the situation or de-escalate remains to be seen, and it will be very much measured by how they calibrated their response by attacking these US bases.”

The scope of the strikes and counterstrikes broadened out as of early Wednesday morning in Iran. Kuwait activated its air defense systems to intercept strikes, its army announced.

Mohamed Vall, a reporter for Al Jazeera reporting from inside Iran, described “a lot of activity in terms of air defence by the Iranians, and they talked about the downing of a helicopter, an American MQ-9 [drone] over Bushehr. So that gives you an idea about the scope of these attacks and counterattacks, or these retaliations across the Strait of Hormuz and the Gulf region tonight.”

Iran’s IRGC also reported targeting a hangar for American F-35 jets in Jordan, Al Jazeera reported.

Iran threatens wider escalation following retaliatory strike on US base in Bahrain

GettyImages-2265916546

Oil prices were little changed, with Brent crude futures down 0.48% as of 5:30 a.m. ET. At the same time, S&P 500 futures were down nearly 0.7% and the tech-heavy Nasdaq Composite had slipped 1.18%, as the escalations compounded a broader AI sell-off.

Travel stocks, like United Airlines and Royal Caribbean, which got a boost on Tuesday as oil prices fell, lost some of those gains in premarket trading. Meanwhile, oil giants such as Chevron and Exxon ticked higher and chipmakers such as Arm Holdings and Micron continued to slip.

The escalation ladder began ratcheting back up when Iran shot down an American helicopter with a drone while it was patrolling the Strait of Hormuz, a US official told NBC News. US forces then conducted strikes in Iran’s Qeshm Island, Sirik, Jask, and Bandar Abbas, according to Al Jazeera. In response, Iran attacked a US fleet in Bahrain, Al Jazeera also reported.

“The Iranians are trying to make clear that any attack on them would be responded to, regardless of the size and the scope,” Trita Parsi of the Quincy Institute for Responsible Statecraft in the US told Al Jazeera. “Now, of course, whether they are seeking to escalate the situation or de-escalate remains to be seen, and it will be very much measured by how they calibrated their response by attacking these US bases.”

The scope of the strikes and counterstrikes broadened out as of early Wednesday morning in Iran. Kuwait activated its air defense systems to intercept strikes, its army announced.

Mohamed Vall, a reporter for Al Jazeera reporting from inside Iran, described “a lot of activity in terms of air defence by the Iranians, and they talked about the downing of a helicopter, an American MQ-9 [drone] over Bushehr. So that gives you an idea about the scope of these attacks and counterattacks, or these retaliations across the Strait of Hormuz and the Gulf region tonight.”

Iran’s IRGC also reported targeting a hangar for American F-35 jets in Jordan, Al Jazeera reported.

power
Jon Keegan

New York legislature passes 1-year data center moratorium

The New York state legislature has passed a one-year ban on large data centers in the state.

The bill now heads to Gov. Kathy Hochul’s desk, where it faces an uncertain fate. If Hochul signs the bill, it would become the first such statewide ban to succeed in becoming law.

That’s far from certain, as Hochul has opposed state-level legislation over data centers. In May, Hochul said, “This is a local decision for municipalities, its land use, which is the purview of local governments. It’s not a statewide approach necessarily, but it’s something I’m looking at intensely.”

In April, Maine Gov. Janet Mills vetoed a similar statewide moratorium on data centers.

Opposition to data centers is growing rapidly across the US. A federal data center moratorium bill was introduced in March, and at least 14 states have proposed pauses on data center construction, according to the National Conference of State Legislatures.

New York lawmakers pass one-year ban on new data centers

New York lawmakers pass one-year ban on new data centers

That’s far from certain, as Hochul has opposed state-level legislation over data centers. In May, Hochul said, “This is a local decision for municipalities, its land use, which is the purview of local governments. It’s not a statewide approach necessarily, but it’s something I’m looking at intensely.”

In April, Maine Gov. Janet Mills vetoed a similar statewide moratorium on data centers.

Opposition to data centers is growing rapidly across the US. A federal data center moratorium bill was introduced in March, and at least 14 states have proposed pauses on data center construction, according to the National Conference of State Legislatures.

EU Commission Vice-President Virkkunen and Commissioner Jorgensen hold press conference

EU proposes “tech sovereignty package” to bolster domestic AI and chip industries

Europe is hastening its breakup with US tech as the Trump administration’s grip on American tech companies tightens.

Jon Keegan6/3/26
power
Jon Keegan

White House releases watered-down executive order on AI

The White House released a weakened executive order on AI on Tuesday, a little more than a week after killing a previous version of the order after what was reportedly intense, direct lobbying of the Oval Office by tech executives.

The order’s most significant change to what was reported in late May is a shortened window of voluntary government review of new models from 90 days to 30 days.

After Anthropic’s Mythos model spooked companies and governments around the world, the White House was reportedly ready to respond with an executive order that would have given the government access to unreleased frontier models for up to 90 days before public release, to ensure safety.

Top AI companies were briefed on the proposed executive order, and a White House event with an extensive roster of tech executives was ready to go, but it was killed at the last minute, according to reports. Axios reported that last-minute lobbying by former White House AI and Crypto Czar David Sacks, along with other tech executives, helped convince President Trump to kill the order. Trump told reporters, “I didn’t like certain aspects of it. I postponed it.”

The now finalized order calls for the creation of an “AI cybersecurity clearinghouse” in concert with the AI industry, and directs national security agencies to develop and maintain a “classified benchmarking process” to review the capabilities of new frontier models.

Promoting Advanced Artificial Intelligence Innovation and Security

Promoting Advanced Artificial Intelligence Innovation and Security

After Anthropic’s Mythos model spooked companies and governments around the world, the White House was reportedly ready to respond with an executive order that would have given the government access to unreleased frontier models for up to 90 days before public release, to ensure safety.

Top AI companies were briefed on the proposed executive order, and a White House event with an extensive roster of tech executives was ready to go, but it was killed at the last minute, according to reports. Axios reported that last-minute lobbying by former White House AI and Crypto Czar David Sacks, along with other tech executives, helped convince President Trump to kill the order. Trump told reporters, “I didn’t like certain aspects of it. I postponed it.”

The now finalized order calls for the creation of an “AI cybersecurity clearinghouse” in concert with the AI industry, and directs national security agencies to develop and maintain a “classified benchmarking process” to review the capabilities of new frontier models.

power
Jon Keegan

Sen. Bernie Sanders: US government should own half of big AI companies in an “American AI Sovereign Wealth Fund”

Anti-AI sentiment appears to be on the rise — commencement speakers being booed at the mention of AI, local officials losing their jobs over support for data center deals, and public polling showing a continued unease surrounding AI use.

Senator Bernie Sanders (I-Vt.) knows how to read the room.

In an op-ed in The New York Times today, Sanders makes the case that today’s leading AI models were built using public works without permission or compensation:

“When a public resource generates wealth, the public should share in that wealth. A.I. is being built on a public resource far more valuable than oil: the accumulated knowledge, creativity and labor of mankind.”

Sanders plans on introducing legislation to create the “American AI Sovereign Wealth Fund.” This unusual proposal would issue a one-time tax of 50% of the big AI companies — such as OpenAI and Anthropic — paid to the US government in the form of stock. The fund would provide direct payments to Americans as it grows, much like Alaska’s “permanent fund,” which issues checks to its residents from 25% of all oil and mineral leases and sales.

While the idea of just handing over half of OpenAI or Anthropic to Uncle Sam sounds crazy, Sanders points out that AI leaders have been suggesting similar ideas recently as a potential solution to massive labor shifts caused by AI that could eliminate whole categories of jobs.

Additionally, President Trump has already signed an executive order to create a plan for a sovereign wealth fund. Trump has also been keen on the US getting a piece of the action, directing the US government to take public stakes in Intel, MP Materials, Lithium Americas, and Trilogy Metals.

Sanders also argues the public’s large stakes in these companies would give American taxpayers a seat at the table to “block decisions that hurt our citizens and to push for policies that help them.”

Opinion | Bernie Sanders: A.I. Belongs to the People, Not to Billionaires

Opinion | Bernie Sanders: A.I. Belongs to the People, Not to Billionaires

In an op-ed in The New York Times today, Sanders makes the case that today’s leading AI models were built using public works without permission or compensation:

“When a public resource generates wealth, the public should share in that wealth. A.I. is being built on a public resource far more valuable than oil: the accumulated knowledge, creativity and labor of mankind.”

Sanders plans on introducing legislation to create the “American AI Sovereign Wealth Fund.” This unusual proposal would issue a one-time tax of 50% of the big AI companies — such as OpenAI and Anthropic — paid to the US government in the form of stock. The fund would provide direct payments to Americans as it grows, much like Alaska’s “permanent fund,” which issues checks to its residents from 25% of all oil and mineral leases and sales.

While the idea of just handing over half of OpenAI or Anthropic to Uncle Sam sounds crazy, Sanders points out that AI leaders have been suggesting similar ideas recently as a potential solution to massive labor shifts caused by AI that could eliminate whole categories of jobs.

Additionally, President Trump has already signed an executive order to create a plan for a sovereign wealth fund. Trump has also been keen on the US getting a piece of the action, directing the US government to take public stakes in Intel, MP Materials, Lithium Americas, and Trilogy Metals.

Sanders also argues the public’s large stakes in these companies would give American taxpayers a seat at the table to “block decisions that hurt our citizens and to push for policies that help them.”

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