A new White House task force will have 120 days to report on the risks and opportunities of artificial intelligence and determine the federal government's responsibility, according to Jay Clayton, director of national intelligence, who effectively becomes the administration's AI czar. In related economic news, America has spent much of the past decade trying to reduce its trade and economic dependence on China, but it is proving difficult. Data centers are increasingly viewed as military targets, reflecting growing geopolitical tensions.
Community bankers have sued the Trump administration after regulators moved to grant bank charters to a wave of cryptocurrency companies. The Independent Community Bankers of America alleges regulators are allowing 'highly risky cryptocurrency and digital asset activities' to enter the banking system without the same level of oversight as traditional banks. Greg Lui, 38, of San Gabriel, California, faces charges of conspiracy to violate export control laws and smuggling high-end export-controlled computer servers valued at $300 million containing U.S.-made graphics processing units to China.
Amazon Web Services Chief Executive Matt Garman published a memorandum calling the fight for AI dominance 'the race our nation can't afford to lose,' stating the company would invest more than $1 billion over the next five years into communities where it is building data centers. Fly Dubai suspended its flights to Israel after a pilot stabbed his captain and sent the plane diving toward the ground, exposing gaps in aviation security on a route connecting the United Arab Emirates and Israel. The incident is described as '100% a major security failure' by analyst Michael Horowitz.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing