In partnership with |  |
|
|
| Greetings N2K reader! | This week’s world famous news haiku competition™ is about new limits for a rent algorithm that prosecutors say lets landlords drive up prices. Pick a winner in today’s poll below. And now for something completely different! | —Matt Davis, Need2Know Chedditor | | News You Need2Know | | | What’s the stock market up to, eh? | $SPX ( ▲ 0.11% ) $DJI ( ▼ 0.07% ) $NDX ( ▲ 0.22% ) | | Companies mentioned in today’s newsletter | $NVDA ( ▲ 2.12% ) $AAPL ( ▼ 1.21% ) $NFLX ( ▼ 0.71% ) | | Huang pushes back on AI rules in DC | | Nvidia $NVDA ( ▲ 2.12% ) CEO Jensen Huang met with President Donald Trump on Capitol Hill this week to discuss chip export controls and the growing debate around AI regulation — something he is bristling at. With Congress deliberating measures like the “Guaranteeing Access and Innovation for National Artificial Intelligence” (GAIN AI) Act, which would prioritize U.S.-first chip sales, Huang praised recent developments that suggest the proposed act may not come to fruition after all. | Speaking to reporters after the meeting with Trump, Huang called the decision not to advance the GAIN AI Act "wise" and warned that some legislation could harm domestic innovation. “I’ve said it repeatedly that we support export controls, and that we should ensure that American companies have the best and the most and first,” Huang remarked. | While Huang insists he endorses federal-level efforts to manage AI, he strongly criticized the “fragmented” state-by-state regulations being introduced across the U.S. He argued that such varied rules could significantly hinder progress. “State-by-state AI regulation would drag this industry into a halt and it would create a national security concern, as we need to make sure that the United States advances AI technology as quickly as possible,” Huang said. | Trump recently urged for a unified federal framework, writing on Truth Social that such a standard promotes national competitiveness. Such a standard is yet to emerge. It’s a common public position from the Washington “avoid regulation” playbook to say you want federal legislation, not piecemeal legislation, when really you don’t want either. I’m just amazed Mr. Huang took his leather jacket off to walk around Congress. | | | Song of the Day: George Riley, ‘Drip’ |  | Drip |
|
| I think you need some uptempo dancefloor-ready pop, imbued with a sense of carefree fun and relentlessly bounding energy. Look no further! | | Free yourself from advertising forever! | Now you can sign up for an optional ad-free version of Need2Know! Subscribe for just $5 a month, or $50 a year, and you can continue to enjoy this reasonably high-quality newsletter uninterrupted. Bonus: The immense satisfaction that comes from supporting journalism*! | *This counts as journalism, right? | | | ADVERTISEMENT | The Smartest Free Crypto Event You’ll Join This Year | | Curious about crypto but still feeling stuck scrolling endless threads? People who get in early aren’t just lucky—they understand the why, when, and how of crypto. | Join our free 3‑day virtual summit and meet the crypto experts who can help you build out your portfolio. You’ll walk away with smart, actionable insights from analysts, developers, and seasoned crypto investors who’ve created fortunes using smart strategies and deep research. | No hype. No FOMO. Just the clear steps you need to move from intrigued to informed about crypto. | Secure your free pass now. | | |
|
| Apple poised for record-breaking 2025 | | Apple $AAPL ( ▼ 1.21% ) is set to achieve a new milestone in 2025 with record-breaking iPhone shipments, as market research firm IDC predicts a remarkable 247.4 million units sold. This marks a 6% year-on-year rise, surpassing Apple's previous 2021 record of 236 million units during the release of the iPhone 13. | The surge in demand is largely driven by the success of the iPhone 17 lineup, particularly in the Chinese market. Investor optimism around the iPhone 17 launch has also been pivotal in helping Apple fend off growing competition from Chinese manufacturers like Huawei, as well as pressure from Google’s $GOOGL ( ▼ 0.63% ) Android. | However, challenges loom. Apple’s decision to delay the release of its next base iPhone to early 2027 is expected to result in a 4% decline in shipments in 2026. Apple and other vendors are expected to prioritize premium, higher-margin models as they navigate these challenges. | | | Quote of the Day | | | Bessent says tariffs can survive any Supreme Court ruling | | Treasury Secretary Scott Bessent has expressed confidence that the U.S. administration can uphold its tariff agenda, even if — or, shall we say, when — the Supreme Court rules unfavorably in an ongoing case regarding the International Emergency Economic Powers Act. Speaking at The New York Times’s DealBook Summit, Bessent emphasized the government’s ability to replicate current tariff structures using other statutes such as sections of the 1962 Trade Act. “We can recreate the exact tariff structure with [sections] 301, with 232, with 122,” Bessent said during an interview with Andrew Ross Sorkin. | Bessent highlighted that while Section 122 of the act grants tariff powers for up to 150 days, sections 301 and 232 offer broader flexibility in terms of duration. Despite the challenges posed by the ongoing Supreme Court case, he expressed optimism, saying, |
|
