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UNBELIEVABLE: Fortune - The Untold Story

U.S. emergency oil supplies are lower now than at any time since Reagan—and heading toward panic levels

Everything you need to know before you reach the office this morning.

Fortune

A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply

The flesh-eating New World screwworm fly was found in Texas last week for the first time since 1966.

Fortune

From the Trump administration to Kevin O’Leary, there’s a new narrative that China is to blame for plummeting data center popularity

“China is a common and comfortable boogeyman in American politics, for right or for wrong,” one political scientist told Fortune.

Fortune

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Health care's AI dividend is real. The fight now is over who reaps the gains

Also: All the news and watercooler chat from Fortune.

Fortune

Saudi economy redraws ambitions—‘going local’ is the new buzz phrase

After a decade of dizzying investments, Saudi Arabia is now focused on domestic priorities.

Fortune

America's emergency oil reserve is about to hit its lowest level since Reagan was in office

The Trump Administration has drained 66 million barrels from the SPR since the war in Iran began.

Fortune

A $7 billion horse race: Goldman Sachs and Morgan Stanley battle to lead OpenAI and Anthropic IPOs

Only one bank can occupy the coveted lead underwriter position for this year's hottest AI IPOs.

Fortune

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Visa's CFO downplays the importance of stablecoin and agentic commerce to the U.S. payments giant—at least in the short term

“I’m hesitant to lean into the stablecoin and agentic commerce narratives too much,” Chris Suh, Visa’s chief financial officer, tells Fortune.

Fortune

Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45.

The Wonder founder is automating fast-casual food with machines that make salad and poke bowls, sauces, and eventually drinks but there are few roles for humans in these kitchens.

Fortune

Sam Bankman-Fried formally files for pardon—but White House reiterates that FTX cofounder’s odds are slim

After donating to the Democrats before his conviction, the onetime crypto billionaire has recently made overtures to the GOP.

Fortune

Wall Street dumped nearly $1 trillion in tech stocks by midday—then bought peanut butter and paint

A midday rout in the “Parabolic 7” chipmakers reversed by the close as money fled into the market’s dullest corners.

Fortune

Hyatt says AI is saving salespeople a full day of work every week

As companies move beyond AI pilots, Hyatt says the technology is delivering measurable business results.

Fortune

America’s grid is reeling. General Motors offers itself as a distributed utility in disguise

As AI data centers strain the grid, GM wants to turn its EVs and batteries into a solution. Ford has a simpler plan—and the two Detroit rivals are betting on very different futures.

Fortune

Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race

The U.S. must build much more power, storage, and better utilize the existing grid in order to keep the AI boom moving at pace, said Tesla cofounder and Redwood Materials boss JB Staubel at the Fortune Brainstorm Tech conference.

Fortune

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Fortune

FIFA says 'market rates' explain World Cup prices. Economists say the market was rigged by design

FIFA launched its own resale marketplace and collects 30% on every ticket resold. Economists say it was designed to extract revenue at every stage.

Fortune

Why are AI bills exploding? Sara Hooker says companies are deploying armies of agents that aren’t actually learning

After years of pursuing ever larger models, AI leaders are increasingly focused on efficiency, adaptability, and the rising cost of inference.

Fortune

‘Not an Allbirds Moment’: Xbox’s CEO says she is grounding the console in gaming roots, not AI

Since stepping into the Xbox CEO role, Asha Sharma has preached a "return of Xbox."

Fortune

BP's new CEO Meg O'Neill rips up the energy giant's playbook—and the 'green' era with it

O’Neill, who took over on April 1, is the only woman to serve as CEO of a traditional Big Oil supermajor in Europe or the U.S.

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Fortune

Should Americans get an equity stake in AI?

In an unusual cross-ideological convergence, Trump and progressive Democrats like Bernie Sanders are both floating some form of public equity in AI.

Fortune

‘Getting control where we can’: Europe wants sovereign AI, but most of the chips are from the U.S.

At Fortune Brainstorm Tech, Mistral’s Timothée Lacroix made the case for European control over the AI stack.

Fortune

A $200 million Boomer estate, millennial heir Nick Reiner, and the dark side of the Great Wealth Transfer

The fight over a trust is a grim preview of what happens when the largest inheritance in history runs into a family at war.

Fortune

Anthropic releases its first Mythos-class model to the public

Anthropic first announced Mythos in April, calling it a “step change” in capabilities, but opted to tightly control its rollout through an initiative called Project Glasswing.

Fortune

'We are rapidly running out of time' Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

Trustees now project the retirement fund will be depleted in 2032 and the combined system in 2034, putting pressure on the 2026 Senate class to act.

Fortune

Grimes says AI can make music, but humans must still tell the story

The singer-songwriter debated the future of musical artists in the age of AI.

Fortune

Opening offices in 120 countries is ‘not a badge of honor’—pick 30 instead says iconic former tech CEO Meg Whitman

Meg Whitman, former head of eBay and HP, and Tubi CEO Anjali Sud offered advice on how to scale a company.

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