Key Takeaways
- Meta Platforms (META) has significantly escalated the AI talent war by appointing Shengjia Zhao, a co-creator of ChatGPT, as the chief scientist of its new Superintelligence Lab, signaling an aggressive push into advanced AI and AGI development.
- Former President Donald Trump has issued strong warnings regarding immigration during his visit to Scotland, urging Europe to "get its act together" and stating that immigration is "killing Europe."
- The US Treasury Department is now accepting donations via PayPal (PYPL) and Venmo from individuals aiming to help reduce the nation's $36.7 trillion national debt, a move that is largely symbolic given the debt's scale.
- Fitch Ratings has reaffirmed Saudi Arabia's 'A+' credit rating with a stable outlook, citing strong fiscal and external balance sheets and ongoing economic reforms under Vision 2030.
- A Southwest Airlines (LUV) flight experienced a sudden maneuver to avoid a potential mid-air collision near Hollywood Burbank Airport, resulting in injuries to two flight attendants and highlighting ongoing concerns about air traffic safety.
Meta Platforms (META) is making significant strides in the artificial intelligence race, announcing the appointment of Shengjia Zhao, a co-creator of OpenAI's ChatGPT, as the chief scientist of its newly formed Superintelligence Lab. This strategic hire underscores Meta's intensified efforts to advance Artificial General Intelligence (AGI) and regain leadership in the AI landscape, especially following mixed reviews of its Llama 4 model. Zhao, who previously contributed to OpenAI's GPT-4 and other models, will be instrumental in shaping the lab's research agenda and scientific direction, working closely with Meta CEO Mark Zuckerberg and Chief AI Officer Alexandr Wang. The company is reportedly investing billions in AI compute infrastructure and actively recruiting top talent from competitors like OpenAI and Anthropic.
Meanwhile, former President Donald Trump has arrived in Scotland, using his platform to deliver a stern message to Europe regarding immigration. He urged European nations to "get its act together" on immigration, warning that "Or you’re not going to have Europe anymore," and describing it as a "horrible invasion" that is "killing Europe." During his visit, Trump is also scheduled to meet with UK Prime Minister Keir Starmer and Scottish First Minister John Swinney.
In a notable development for the US economy, the US Treasury Department is now accepting donations via PayPal (PYPL) and Venmo from individuals who wish to contribute to reducing the nation's $36.7 trillion national debt. While this initiative aims to broaden participation by leveraging digital payment platforms, the total contributions to date, approximately $67.3 million since 1996, remain negligible compared to the colossal federal debt.
In the aviation sector, a Southwest Airlines (LUV) flight bound for Las Vegas from Hollywood Burbank Airport experienced a dramatic incident when its pilot executed a sudden maneuver to avoid a nearby aircraft after receiving alert warnings. This abrupt descent, reportedly from 14,100 feet to 13,625 feet, resulted in injuries to two flight attendants, with passengers describing the experience as "terrifying" and being "flung out of their seats." Both Southwest and the Federal Aviation Administration (FAA) have launched investigations into the near-miss.
Amidst these developments, Fitch Ratings has reaffirmed Saudi Arabia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A+' with a Stable Outlook. The agency highlighted the Kingdom's strong fiscal and external balance sheets, low debt levels, and significant fiscal buffers as key factors. Fitch anticipates a rebound in economic growth for Saudi Arabia in 2025, driven by non-oil sector expansion and ongoing reforms under Vision 2030.
Other significant global events include a report from the Washington Post indicating that Israel was in the final phase of operations to topple the Iranian regime when former President Trump declared a ceasefire. This comes as Qatar is reportedly sending a DoD Boeing 747-8 as an unconditional donation. Additionally, approximately 3,870 NASA employees, representing about 20% of its workforce, are expected to resign amid proposed budget cuts, potentially impacting the agency's future missions. In Southeast Asia, clashes between Cambodia and Thailand have escalated, with Cambodia announcing 13 deaths, raising the total toll from both sides to 33 people. Lastly, a major financial event in São Paulo saw Donald Trump's threat to impose 50% tariffs on Brazil draw little concern, with most attendees downplaying its economic impact, despite reports suggesting a potential R$175 billion threat to export revenues.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.