OpenAI has proposed granting a roughly 5% stake to the U.S. government, the Financial Times reported, a move that would signal unprecedented public‑private alignment as regulators and lawmakers press for greater oversight of generative‑AI firms.
Regulatory pressure on Big Tech continued: Google lost an EU court appeal over a €3.9 billion ($4.1 billion) Android antitrust fine, a ruling that preserves one of the bloc’s largest technology penalties and adds to compliance costs for the search giant.
Markets awaited a key labour print: June nonfarm payrolls are due one day early because of the U.S. Independence Day holiday, and investors moved cautiously — tech shares retreated ahead of the release as markets braced for data that could shape the Fed’s policy path.
Energy markets were calmer as tanker traffic through the Strait of Hormuz recovered, extending a decline in crude. Brent slipped about 1.5% to $70.50 a barrel.
Regional equity moves were uneven. Korean stocks led losses across Asia, plunging as much as 7% on heavy tech weakness; the Nikkei and mainland Chinese benchmarks fell roughly 2.5%. In Europe, resilient consumer stocks helped push indices about 0.4% higher. U.S. futures looked set to open marginally lower as traders positioned around the payrolls report.
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