• Crypto stocks jump after lawmakers struck a compromise on the CLARITY Act to preserve stablecoin rewards under certain conditions; Circle's stock closed up ~20% (Tanaya Macheel/CNBC)
• Duolingo reports Q1 revenue up 27% YoY to $292M, vs. $288.5M est., bookings up 14% to $308.5M, and expects slower growth in Q2; DUOL drops 12%+ after hours (Akash Sriram/Reuters)
• Musk v. Altman: Greg Brockman testifies that his OpenAI stake is now worth ~$30B; a Musk attorney asks why he hasn't donated $29B to OpenAI's nonprofit arm (Bloomberg)
• Palantir reports Q1 revenue up 85% YoY to $1.63B, vs. $1.54B est., US government revenue up 84% to $687M, and US commercial revenue up 133% to $595M (Jaspreet Singh/Reuters)
• Elon Musk agrees to pay $1.5M to settle SEC allegations that he cheated Twitter shareholders in 2022 by failing to disclose the 5%+ stake he had in the company (Nicola M White/Bloomberg)
• Pinterest reports Q1 revenue up 18% YoY to $1B, vs. $966M est., MAUs up 11% YoY to 631M, and forecasts Q2 revenue above estimates; PINS jumps 17%+ after hours (Jonathan Vanian/CNBC)
• Musk v. Altman: Stuart Russell, Musk's only AI expert witness, warned of AI risks but his concerns about AI's existential threats were excluded by the judge (Tim Fernholz/TechCrunch)
• Sources: the Trump administration is discussing an EO to create an AI working group to examine AI oversight procedures, including vetting models before release (New York Times)
• Former Trump and Biden AI advisers Dean Ball and Ben Buchanan urge bipartisan action on AI security risks, including tighter export controls and safety audits (New York Times)
• Anthropic co-founder explains why there's a 60%+ chance of AI systems autonomously building their successors by 2029 and the consequences of automated AI R&D (Jack Clark/Import AI)
• Sources: Apple prepares a "Create a Pass" feature for iOS 27, which lets users take a QR code and generate a custom pass around it for concerts and other venues (Mark Gurman/Bloomberg)
• Intel taps Alex Katouzian, an ex-Qualcomm EVP, to lead Client Computing & Physical AI group, and names Pushkar Ranade as CTO, after serving on an interim basis (Dylan Martin/CRN)
• Ex-iRobot CEO Colin Angle launches Familiar Machines & Magic and unveils Familiar, a dog-like, "emotionally intelligent" robot that reacts to owner's feelings (Christopher Mims/Wall Street Journal)
• Nearly 20 US state-run health insurance exchanges include ad trackers that send user data like race and citizenship info to companies like Meta, TikTok, Google (Bloomberg)
• Sources: more than two dozen prediction-market ETFs have been pushed back as the SEC seeks more information; they were originally expected to launch this week (Suzanne McGee/Reuters)
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| • Elon Musk settles with the SEC for $1.5 million after years-long dispute over his Twitter investment
• The White House is considering tighter regulation of new AI models
• iOS 26.5 will add end-to-end encryption for RCS messages between Apple and Android
• Wholesome Direct returns June 6 with a slew of joyful games
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• GameStop submits $56 billion offer to buy eBay
• Ask.com has shut down, marking the official farewell to the Internet's favorite butler
• Lego is releasing a Sega Genesis set complete with little controllers
• OpenAI introduces AI-generated pets for its Codex app
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• Meta acquires robotics AI startup as it makes the push into humanoid machines
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