Good morning. A ceasefire takes effect in Gaza. Demand for precision images from space is booming. And Netflix wants you to play Boggle in between binges of Stranger Things. Listen to the day’s top stories.
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Israel and Hamas agreed to terms for the release of all hostages held in Gaza. The ceasefire in the Palestinian territory has gone into effect, Israel’s deputy foreign minister said. About 20 of the 48 Israelis still being held are thought to be alive. Under steps proposed by President Donald Trump, Israel would release almost 2,000 Palestinian prisoners in return. Here’s what else the plan promises.
Diplomatic move. The US approved several billion dollars worth of Nvidia chip exports to the United Arab Emirates, an initial step in implementing a controversial deal that could serve as a blueprint for American AI statecraft. Trump’s AI deals with Saudi Arabia and the UAE have divided his administration, with some officials concerned about national security and economic risks.
Nvidia-backed German startup N8n netted $180 million in a funding round that gives it a $2.5 billion valuation, the latest in a wave of deals propping up the trillion-dollar AI boom. Never before has so much money been spent so rapidly on a technology that remains largely unproven as an avenue for profit-making. And often, it can be traced back to two firms: Nvidia and OpenAI. Here’s what the smart people are saying.
Jimmy Kimmel said his comments about Charlie Kirk were “maliciously mischaracterized” by the political right. He kept schtum on whether he’ll continue his late-night show after his contract ends in May, but one thing’s for sure: he won’t be inviting FCC Chairman Brendan Carr as a guest. He would ask Trump, though.
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Deep Dive: Seeing From Space
An illustration of a Planet Labs "Owl" earth observation satellite. Source: Planet Labs PBC
The market for high-res satellite imagery is rocketing. Just ask San Francisco-based Planet Labs, whose stock has more than tripled this year as countries realize the value of seeing what’s happening on Earth from hundreds of miles away in space.
Planet is working on a new constellation of spacecraft—dubbed Owl—which the company claims will be able to provide images with 1-meter resolution within an hour. Geopolitical tensions are spurring a spike in deals, with governments hungry for technology that optimizes intelligence gathering and military responses.
European nations, in particular, are driving demand, seeking to lessen their reliance on the US for space-based military capabilities. Planet, which struck a deal with NATO this year, has plans for a manufacturing facility in Berlin.
The company formerly known as Maxar has made a mark this year with precise images ranging from Iranian nuclear facilities targeted by US bombers in June to Chinese military equipment ahead of last month’s Victory Day parade in Beijing.
The Big Take
Gold bars on display at a jewelry store in Hangzhou, China. Photographer: VCG/Visual China Group
All that glitters. A scorching gold rally is helping China get closer to its goal of building a world less reliant on US-centric financial markets. Drawing lessons from London’s bullion market and Russia’s use of gold as a strategic resource, Beijing is seeking to woo nations to store the metal in its bonded warehouses and trade it in Shanghai.
The bull thesis behind the current asset boom may be valid, but it’s not what voters wanted, writes John Authers. Last year’s election turned on inflation above all else. Trump 2.0 has moved aggressively on many fronts, but not on prices. The bullish narrative looks like an acceleration of the same forces that fueled public anger in the first place.
