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Anthropic Raises $65BN At $965 Billion Valuation, Surpassing OpenAI

Anthropic Raises $65BN At $965 Billion Valuation, Surpassing OpenAI

Amid an unprecedented valuation battle between ChatGPT and Anthropic raging in the private markets ahead of their respective IPOs in a few months, Bloomberg reported that shortly after releasing its latest Claude Opus 4.8, Anthropic raised $65BN in a funding round that will nearly triple the start-up’s valuation and see it surpass arch-rival OpenAI as the most valuable AI lab.

The Claude chatbot maker was valued at $900bn, not including the new investment, as part of the fundraising led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.

The round comes just three months after Anthropic raised $30bn in a deal valuing it at $350bn as the popularity of its tools for software developers and workplace customers has propelled extraordinary growth and given it an edge over OpenAI, which was most recently valued at $852bn.

“Claude’s latest advancements have driven large-scale adoption among the world’s most demanding organisations. This momentum positions Anthropic to lead the next phase of AI innovation,” said Brad Gerstner, founder and CEO of Altimeter Capital.

While Anthropic’s run-rate revenue, a metric prefered by start-ups which estimates annual revenues based on short-term performance, crossed $47bn this month, some have expressed skepticism that the number is legitimate, with many suggesting that double counting and even extapolating of outlier is the reason behind the surge.

The more than fivefold increase since the start of the year is unprecedented for a start-up its size. It’s also most likely bogus, but that will be for the company’s new public shareholders to figure out in a few months when the company goes public at an even more ludicrous valuation. 

According to the FT, backers are looking to build their stakes in Anthropic ahead of an initial public offering which could come as soon as this year, as OpenAI and SpaceX also race towards public listings. Together, the three companies are expected to have a valuation of ~$3 trillion and will drain an unprecedented amount of liquidity from the market, likely sparking the next market drawdown. 

The funding caps an extraordinary period for Anthropic, led by former ChatGPT employee Dario Amodei, when the announcement of its new AI tools has rattled whole sectors of the stock market from wealth managers to cyber security groups.

The power of its Mythos model, which it released to a limited group of trusted partners because of its advanced cyber security capabilities, has prompted concern from governments and financial regulators around the world. On Thursday, Anthropic said it was making progress towards a wider release of Mythos “in the coming weeks”. It also released the latest version of its Claude model, Opus 4.8, which the company said was more “honest” and “more likely to flag uncertainties about its work and less likely to make unsupported claims”.

The company is also embroiled in a legal fight with the Department of Defense over the military use of its technology, a battle that has scarcely dented Anthropic’s financial progress.

The new funding includes investments from the three leading makers of memory chips: Micron, Samsung and SK Hynix. Anthropic is an end customer for their hardware, which has increasingly been in short supply because of huge demand from AI data centres.

Their participation follows other circular agreements by both OpenAI and Anthropic with cloud providers and other chipmakers, such as Nvidia.

These circle-jerking arrangements between customers, suppliers and investors – reminiscent of the circular deals that burst the dot com bubble – in the AI industry have added to concerns about a bubble in the sector. Anthropic initially targeted a $30bn raise from financial institutions. The company exceeded that total in part thanks to the participation of infrastructure partners, the same infrastructure partners that will now see their money returned to them for compute purchases.

This added to $15bn in previously committed funding from Big Tech “hyperscalers”, including $5bn from Amazon, to fill out the $65bn raising.

The new capital will go towards Anthropic’s effort to procure enough computing power to meet rising demand for its tools. It has struggled with capacity issues in recent months.

It recently struck a multibillion-dollar deal with Elon Musk’s SpaceX to use one of its data centres, as well as long-term agreements with Google, Broadcom and Amazon potentially totalling hundreds of billions of dollars.

“This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens,” said Krishna Rao, chief financial officer of Anthropic.

Other venture capital and fund managers who invested include Baillie Gifford, Blackstone and Brookfield and state-backed investors including Abu Dhabi’s MGX and Singapore’s Temasek. 

Tyler Durden
Thu, 05/28/2026 – 18:31

Tilman Fertitta Nears $5.7 Billion Caesars Takeover

Tilman Fertitta Nears $5.7 Billion Caesars Takeover

Tilman Fertitta, the Texas billionaire behind Golden Nugget and Landry’s, is nearing a $5.7 billion takeover of Caesars Entertainment — a deal that would dramatically expand his footprint across casinos, hotels, and restaurants, according to Bloomberg.

The merger would unite Caesars’ gaming operations with Fertitta’s hospitality empire, which includes brands such as Mastro’s, Bubba Gump Shrimp, Rainforest Cafe, and several casino properties. Certain assets, including the Houston Rockets and some hotels, are expected to stay separate from the deal.

Bloomberg reports that Fertitta, 68, began working in his family’s seafood business in Galveston before building Landry’s into one of the country’s largest hospitality companies. After weathering the Texas oil crash in the 1980s, he grew through aggressive acquisitions and entered the casino industry with the purchase of Golden Nugget in 2005.

Recognized for his hands-on leadership and lavish business style, Fertitta became a national media figure through CNBC’s Billion Dollar Buyer and later served as U.S. ambassador to Italy and San Marino under President Donald Trump.

Caesars would give Fertitta a larger presence on the Las Vegas Strip, something he has sought for years. He first attempted to acquire the company in 2018. More recently, he became Wynn Resorts’ largest shareholder after publicly criticizing the company’s direction.

Despite owning major casino and online betting businesses, Caesars has faced slowing Las Vegas demand, softer regional results, and increasing pressure from betting competitors including FanDuel and DraftKings.

Fertitta’s broader portfolio also includes hotels, luxury car dealerships, and entertainment venues. His personal assets reportedly include a 384-foot yacht and a Gulfstream G700 jet. The Houston Rockets, which he bought in 2017 for $2.2 billion, are now estimated to be worth about $5.5 billion.

Tyler Durden
Thu, 05/28/2026 – 18:00

Watch: Hollywood Actress Blows Whistle On Systemic Anti-White Discrimination In Casting

Watch: Hollywood Actress Blows Whistle On Systemic Anti-White Discrimination In Casting

Authored by Steve Watson via Modernity.news,

Actress Samaire Armstrong, known for her role in the hit series The O.C., stepped forward with a raw account of Hollywood’s entrenched discrimination. For years, she stayed silent as casting directors repeatedly rejected her for one reason: her race. When she couldn’t hold back any longer she broke that silence, revealing how merit has been sacrificed on the altar of identity politics.

That was five years ago. In the intervening time, Hollywood has doubled and tripled down on this momentum.

Armstrong explained, “Over the last 6 years, I’ve heard nonstop, ‘They’re not looking for white.’ — ‘They liked you, but you’re white.’ And, you know, I kept that to myself in silence…the pendulum has swung so far, you know, like, ‘We’re gonna fit this transgender character in here now that we’re PC.’ Natural, organic stories stopped being told.”

“You gotta wonder, what’s the point of acting school and putting this time into developing the craft if that doesn’t matter anymore?” Armstrong urged.

Her testimony, shared in a PragerU interview and amplified across platforms, underscores a troubling reality: Hollywood isn’t just leaning into diversity — it’s enforcing exclusion.

This isn’t one isolated voice. Armstrong’s experience reflects a broader industry shift where skin color determines opportunity more than skill, training, or audience appeal. In a country still majority white, the creative heart of American entertainment has turned against its foundational talent pool.

The Academy of Motion Picture Arts and Sciences formalized this bias with its “Representation and Inclusion Standards” for Best Picture eligibility. Starting with the 96th Oscars in 2024, films must meet at least two of four detailed standards, backed by a confidential Academy Inclusion Standards form (RAISE).

These rules prioritize “underrepresented” groups — defined to include women, racial or ethnic minorities, LGBTQ+ individuals, and the disabled or deaf — across every level of production.

Standard A: On-Screen Representation, Themes and Narratives
To qualify, a film needs at least one of these:

  • A lead or significant supporting actor from an underrepresented racial or ethnic group.
  • At least 30% of actors in minor and supporting roles from at least two underrepresented groups.
  • A main storyline or theme centered on an underrepresented group.

Standard B: Creative Leadership and Project Team

  • At least two creative leadership or department head positions filled by underrepresented groups (with at least one from an underrepresented racial or ethnic group).
  • At least six other key crew or technical positions from underrepresented groups.
  • At least 30% of the overall crew from at least two underrepresented groups.

Standard C: Industry Access and Opportunities focuses on paid apprenticeships, internships, and training programs targeted at preferred demographics. Standard D: Audience Development requires multiple senior executives or consultants from underrepresented groups in marketing, publicity, and distribution.

These mandates didn’t emerge in a vacuum. They accelerated after 2020 amid corporate panic over social justice pressures. The Academy framed them as promoting “equitable representation” to reflect a “diverse global population.” In practice, they function as barriers against projects centered on white characters or led by white creatives in a nation where whites remain the demographic majority.

Iconic films from Hollywood’s golden eras would fail these tests. CasablancaThe GodfatherSaving Private RyanNo Country for Old Men, or even Titanic in its original form wouldn’t check enough boxes. The rules don’t just encourage diversity — they penalize storytelling rooted in European-American cultural traditions or historical accuracy.

Armstrong didn’t arrive at her critique lightly. In her PragerU “Stories of Us” segment, she detailed the gradual erosion she witnessed. She acknowledged past imbalances — “Oscars were so white for decades” — but argued the correction overshot into absurdity. Natural character development and subtle narratives gave way to forced inserts and demographic engineering.

Organic tales of human struggle, ambition, love, and loss vanished under layers of ideological checklists.

This hits aspiring actors hard. Acting demands years of classes, auditions, rejections, and honing emotional range. When race becomes the deciding factor, that investment must feel pointless.

Reports from others in the industry echo her account. White actresses and actors describe similar experiences — agencies steering clients away from certain roles or auditions explicitly noting preferences for non-white performers. One parent recounted her son’s early acting opportunities drying up once “no whites” language appeared in casting calls. Families of talented young performers now face tough choices: pivot careers or accept systemic disadvantage.

Hollywood’s defense often falls back on “underrepresentation” statistics. Yet these ignore viewer preferences and box office realities. Audiences don’t reject diversity when it feels authentic; they reject pandering that prioritizes messaging over entertainment.

When every ensemble requires a precise racial mix, every leadership team checks ethnicity boxes, storytelling suffers. Characters become mouthpieces. Plots twist to accommodate themes rather than emerging from genuine conflict.

The decline isn’t imaginary. Recent years delivered a string of high-budget disappointments: franchise entries laden with awkward diversity lectures, remakes that rewrite history for contemporary politics, and originals that feel like committee products rather than visionary works.

Studios chase Oscar validation and corporate ESG scores. Meeting Academy standards boosts awards chances and shields against activist boycotts. But it alienates core domestic audiences who simply want compelling stories. International markets sometimes reward spectacle over messaging, yet even there, fatigue sets in when quality plummets.

Compare this to earlier eras. Classic Hollywood produced universal stories — tales of redemption, heroism, romance, and tragedy — that transcended demographics. Directors cast the best actors for roles, not the best demographic fit. Writers explored human nature without mandatory identity arcs. The result was timeless cinema that still draws viewers decades later.

Today’s approach inverts that. “Natural, organic stories stopped being told,” as Armstrong noted. Scripts now insert transgender subplots or racial redemption arcs mechanically. Casting directors scan headshots for skin tone checkboxes first. This creates a chilling effect: white performers self-censor or exit, while others game the system.

The financial toll shows. Major releases flop despite massive marketing. Streaming catalogs fill with forgettable content. Independent and international films — less beholden to U.S. Academy rules — often outperform in authenticity and engagement. Asian cinema, in particular, thrives on merit-based casting and culturally grounded narratives without Western-style guilt.

This discrimination fits a larger pattern of institutional hostility toward majority populations in Western nations. Policies that punish success and reward grievance thrive in elite circles detached from everyday consequences. Hollywood, overwhelmingly coastal and progressive, embraced these ideas enthusiastically after 2016 and 2020.

Armstrong’s conservative leanings — including past support for Trump and criticism of certain activist movements — make her voice especially threatening to the establishment. Speaking out risks career suicide in an industry known for enforcing ideological conformity. Her decision to go public anyway highlights growing cracks in the silence.

Critics of the standards face accusations of racism for pointing out anti-white bias. Yet the rules themselves codify racial preference. In a just system, opportunity flows from talent, work ethic, and market demand. Forcing outcomes by skin color inverts justice — it becomes discrimination with extra steps.

Entertainment should unite through shared humanity, not fragment by mandated identity tallies. When government-adjacent entities like the Academy dictate creative output, art dies. Viewers sense the fraud and tune out.

Broader society feels the ripple effects. Young white talent redirects energy elsewhere — tech, trades, entrepreneurship — where merit still rules. Cultural confidence erodes when a nation’s primary storytelling medium treats its founding stock as obstacles. Families notice the pattern in commercials, shows, and films: white characters often portrayed as clueless, evil, or sidelined.

Change won’t come from within Hollywood’s echo chamber. It requires audience rebellion — supporting projects that prioritize story over quotas. Independent creators, YouTube filmmakers, and platforms free from legacy gatekeepers already fill voids. Success stories like certain unapologetic comedies or action films prove audiences crave competence and fun.

Some performers and executives quietly admit the problems. Box office data reinforces the point: preachy content underperforms. Global competition from industries unburdened by these rules grows fiercer.

Armstrong’s stand adds to a chorus demanding restoration of merit. Her call to “break the silence before it’s too late” urges others in the industry to prioritize truth over career preservation. If enough voices join, pressure could build against the Academy’s rules and studio practices.

Ultimately, Hollywood’s anti-white tilt reveals deeper contempt for its audience and heritage. By sidelining skilled performers, the industry doesn’t just harm individuals — it degrades the art form itself. Viewers deserve better than propaganda disguised as entertainment.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden
Thu, 05/28/2026 – 17:40

Treasury Appointees Push To Put Trump’s Face On A Brand-New $250 Bill

Treasury Appointees Push To Put Trump’s Face On A Brand-New $250 Bill

Two political appointees at the Treasury Department spent months pressing Bureau of Engraving and Printing staff to develop prototypes for a $250 bill bearing Donald Trump’s portrait, even as bureau officials repeatedly warned them the project had no legal foundation and could take nearly a decade to execute properly, the Washington Post reports.

U.S. Treasurer Brandon Beach and senior adviser Mike Brown, both political appointees, began pushing bureau staff last year to prepare designs for the note. Beach handed over mock-up materials in August and September, including a design placing Trump’s face at the center of the bill, flanked by Trump’s and Treasury Secretary Scott Bessent’s signatures. The effort would mark the first time a living person appeared on U.S. currency since 1866, and current employees, speaking anonymously out of fear of retaliation, claim the internal pressure was real.

The artist behind the designs, British painter Iain Alexander, said he discussed the project directly with Trump and received feedback on specifics. “He likes to call me his favorite British artist,” Alexander said.

Trump reportedly pushed for American flag colors and a “250” logo tied to the nation’s semiquincentennial, and Alexander said Trump “absolutely loved” the proposed reverse side of the note, which would feature a women’s liberation theme with Betsy Ross.

Bureau director Patricia “Patty” Solimene, a 24-year Army veteran and the first woman to lead the bureau, told Beach and Brown plainly that the project was unauthorized. One employee described her position this way: “She had told them we’re not authorized to do this. We can’t progress any further, and all the stakeholders have not even met to discuss the next steps.” The same employee noted that “currency often takes six to eight years to produce a new bill, particularly one of such high value.”

Solimene was reassigned from her position on April 27. The following day, she sent a farewell email to staff that read, in part, “The buck stopped here,” and acknowledged the move was “not my choice.” Brown subsequently became the bureau’s acting director. Treasury declined to comment on the circumstances of Solimene’s reassignment, and the White House did not respond to requests for comment.

Legally, the proposed bill faces several obstacles. Federal law restricts living individuals from appearing on U.S. currency, a rule that has been on the books for over 150 years. Beyond the portrait question, the bureau is authorized to produce only specific denominations, and $250 is not among them. Former bureau director Larry R. Felix explained that “a $250 note is not statutorily authorized” without congressional action, adding, “The secretary has to be given authority to do that.” Alexander said he, too, had been told legislation was necessary.

And it is unlikely that Congress would approve it. Rep. Joe Wilson (R-S.C.) previously introduced a bill in February 2025 directing the Treasury to issue $250 Federal Reserve notes featuring Trump’s image, tied to the 250th anniversary celebrations beginning in July. The bill stalled in the House Financial Services Committee and did not receive a hearing.

A department spokesperson said the bureau is “conducting appropriate planning and due diligence” and would proceed with a commemorative $250 note only if Congress passes the required legislation. Treasury also said Beach has “never asked staff to print the bill before congressional passage.” At the same time, the department confirmed Bessent would recognize Trump’s “historic achievements” by adding his signature to existing currency, noting no law prohibits a sitting president’s signature on bills. Solimene and her staff had separately agreed to print $100 bills featuring Trump’s signature, which employees said were already in production at the bureau’s Washington facility.

What’s next?

Tyler Durden
Thu, 05/28/2026 – 17:20

Texas Authorities Arrest 6 Chinese “Special Interest Aliens” In Camouflage

Texas Authorities Arrest 6 Chinese “Special Interest Aliens” In Camouflage

Authored by Tom Ozimek via The Epoch Times,

Texas authorities arrested six Chinese nationals dressed in camouflage who were allegedly attempting to evade capture after crossing the border illegally into the United States, officials said, describing them as “special interest aliens.”

U.S. Border Patrol agents monitor the Southern border outside of San Diego, on May 27, 2026. John Fredricks/The Epoch Times

Lt. Chris Olivarez, a spokesperson for the Texas Department of Public Safety (DPS), said on May 27 that the Chinese nationals were apprehended by U.S. Border Patrol agents on a private ranch in Maverick County near the Texas-Mexico border.

The six Chinese nationals were among a group of 12 illegal immigrants apprehended during the late-night operation, Olivarez said in a post on X. All six were dressed in camouflage clothing.

The Department of Homeland Security (DHS) defines a special interest alien as someone “who, based on an analysis of travel patterns, potentially poses a national security risk to the United States or its interests.”

The apprehension was the second operation carried out in Maverick County on the night of May 26 involving illegal immigrants allegedly attempting to avoid detection.

Olivarez said that tracking K-9 Bona and her handler assisted Border Patrol agents in tracking and apprehending seven illegal immigrants on another private ranch in the county. The group included nationals from Mexico, Guatemala, India, Ecuador, and Cuba.

“These apprehensions highlight the ongoing efforts in deterring criminal activity along the southern border and the critical partnership between Texas DPS and our federal partners under Operation Lone Star,” Olivarez said in a statement. “Border security is national security.”

Texas Gov. Greg Abbott said in a post on X that “Operation Lone Star continues nonstop to arrest illegal immigrants along our border.”

Operation Lone Star, launched in 2021, is a Texas-led border security initiative involving multiple law enforcement agencies aimed at curbing illegal immigration, drug trafficking, and other cross-border criminal activity.

Similar Cases Reported In South Texas

Texas authorities have reported several similar incidents in recent months involving Chinese nationals apprehended after illegally crossing the southern border, with some also allegedly wearing camouflage clothing.

In February, Texas DPS said troopers stopped a vehicle in Maverick County and discovered four people smuggled inside, all dressed in camouflage. One of the passengers was identified as Beibei Liu, 34, a Chinese national classified as a special interest alien.

In another case earlier this month, a DPS Brush Team working alongside U.S. Border Patrol agents apprehended six people during multiple encounters near Roma in Starr County. Olivarez later said one of the individuals was a Chinese national designated as a special interest alien.

Authorities said all six individuals arrested in the Starr County operation were wearing colored wristbands commonly used by transnational criminal organizations to indicate payment status and coordinate movement along cartel-controlled smuggling routes.

Expanded Immigration Enforcement Push

The latest arrests come amid a broader push by the Trump administration to intensify immigration enforcement and increase deportations.

White House border czar Tom Homan said in an interview published on May 20 that the administration was seeking to raise deportation numbers further, despite what he described as a temporary slowdown earlier this year tied to operational and funding disruptions.

We are after everyone, but again, you’ve got to prioritize those who are the biggest threats to our national security, public safety,” Homan told the Washington Examiner.

Homan said roughly 800,000 illegal immigrants had been removed from the country since President Donald Trump returned to office, adding that “hundreds of thousands” of those removed were criminals or public safety threats.

Meanwhile, DHS announced on May 26 a new directive aimed at combating fraud in the U.S. asylum system.

Under the policy, Immigration and Customs Enforcement attorneys will receive expanded authority to pursue enforcement actions against immigration lawyers accused of filing fraudulent asylum claims or coaching clients to conceal information from authorities.

DHS General Counsel James Percival said the administration was moving to address what he described as widespread abuse of asylum protections.

“Protection claims like asylum are intended to cover unique and narrow circumstances, but it is standard practice for immigration attorneys representing illegal aliens to assert that virtually every illegal alien is going to be persecuted or tortured in his or her home country,” Percival said in a statement.

The American Immigration Lawyers Association criticized the directive, calling it a “chilling directive” targeting immigration attorneys and rejecting allegations of systemic fraud within the asylum system.

Jack Phillips and Naveen Athrapully contributed to this report.

Tyler Durden
Thu, 05/28/2026 – 16:20

Iran Fires ‘Warning Shots’ On ‘Unauthorized’ Vessels Trying To Traverse Hormuz Strait

Iran Fires ‘Warning Shots’ On ‘Unauthorized’ Vessels Trying To Traverse Hormuz Strait

Summary

  • Rtrs citing Iran’s Fars: Iran’s armed forces carries out a missile launch operation from southern regions of the country toward specified targetsReports of US ships under fire.
  • Per Axios: “U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran’s nuclear program, but President Trump has yet to give it his final approval.”
  • Unconfirmed reports of Ayatollah denial of MOU.
  • Saudi state media reports Pakistan is seeking to convince Washington to allow transfer of Iran’s highly enriched uranium to China (Al Hadath).
  • Iran launches ballistic missile on US base in Kuwait, which was reportedly intercepted by Kuwaiti forces.
  • Fresh launch is retaliation for prior evening’s skirmish involving US intercepting Iranian drones, and targeting coastal launch location.
  • Stalled talks still stuck on nuclear issue: Iran insists it will keep its enriched uranium as a matter of national soveriegnty.

US x Iran permanent peace deal by June 30, 2026?
Yes 42% · No 59%
View full market & trade on Polymarket

*  *  *

Reports of New Military Incident in Hormuz Strait

Following earlier reports of the US & Iran having tentatively reached a Memorandum of Understanding on 60-day truce for talks, and pending Trump’s approval, there has been fresh Thursday night (local time) chatter out of Iran on potential fresh attacks in the Strait of Hormuz.

Israel and US media correspondents have commented based on emerging accounts of Iranian sources: Iran has reportedly targeted American ships in Hormuz. Times of Israel writes:

The fresh fighting appeared to begin when Iranian forces fired at four ships attempting to cross the strait, state broadcaster IRIB reported on Thursday.

“Four vessels attempted to cross the Strait of Hormuz and enter the Persian Gulf without coordination with the security forces,” IRIB posted on Telegram, saying the incident took place at around 12:35 a.m. local time. It did not provide details on the ships.

“They were warned, but after they ignored the warning, warning shots were fired at them, forcing them to return,” the broadcaster added.

And Reuters:

IRAN’S FARS: IRAN’S ARMED FORCES CARRIES OUT A MISSILE LAUNCH OPERATION FROM SOUTHERN REGIONS OF THE COUNTRY TOWARD SPECIFIED TARGETS

Israel’s Channel 12 also cited Iranian ‘opposition sources’ to say that there was a missile launch observed near the city of Bushehr in southern Iran. If this fresh incident is confirmed, it would mark the third such clash between US and Iranian forces in the contested waters within just a couple days.

Some latest on MOU status:

Bessent: We are being Patient, & Strikes could Come Back

Reports that Ayatollah has Not Accepted MOU

And very quickly on the heels of the Axios report, there chatter that the Iranian side has not actually approved:

Oil Tumbles on Reported MOU Breakthrough

Per Barak Ravid: “U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran’s nuclear program, but President Trump has yet to give it his final approval,” two US officials have told Axios. This could be the hugest diplomatic breakthrough yet, after weeks of stalled talks, but it awaits President Trump’s.

“U.S. officials said the deal terms were mostly agreed as of Tuesday, but both sides still needed to get approval from senior leadership,” Axios notes by way of caveat. According to some emerging details from the report:

  • The U.S. officials claimed the Iranians later came back and said they had the necessary approvals and were prepared to sign. Iran has not confirmed that.
  • The U.S. negotiators briefed Trump on the details of the final deal and he asked to take a few days to think about it.
  • “The president relayed to the mediators that he wants a couple of days to think about it,” a U.S. official said.

Key question: is Iran’s high enriched nuclear material part of the MOU? This could put it in jeopardy.

Oil tumbles on the headline…

Uranium Transfer to China?

According to Saudi state-funded Al Hadath, Pakistan will present to the US the “transfer of Iranian uranium to Beijing under international supervision.”

The report seems unlikely, given it is also worded in such a way as to suggest the scheme originates with Pakistan, as a desperate attempt to keep stalled talks alive. Tehran has never indicated it would contemplate sending its enriched uranium stockpile abroad, even to a ‘friendly’ nation. 

Iranian Launch on Kuwait

The government of Kuwait on Thursday has made clear it retains all rights to take measures to preserve its security, following a overnight Iranian missile strike. Kuwait’s Foreign Ministry further condemned the fresh missile ⁠and drone ⁠attacks on its territory as ‌a serious escalation and “blatant violation of sovereignty and ⁠security.” The Iranian launch, which Tehran says targeted a US base in Kuwait, came in response to US bombardment of an Iranian drone base near the southern city of Bandar Abbas which occurred just prior.

via Associated Press

In a new statement, US Central Command (CENTCOM) confirms that “At 10:17 p.m. ET on May 27, Iran launched a ballistic missile toward Kuwait that was successfully intercepted by Kuwaiti forces.”

“This egregious ceasefire violation by the Iranian regime occurred hours after Iranian forces launched five one-way attack drones that posed a clear threat in and near the Strait of Hormuz,” the US military statement continued.

“All drones were successfully intercepted by U.S. forces which also prevented a sixth drone launch from an Iranian ground control site in Bandar Abbas,” it added. “U.S. Central Command and regional partners remain vigilant and measured as we continue to defend our forces and interests from unjustified Iranian aggression.”

Additionally, the Gulf statement strongly condemned the fresh Iranian attack, with the head of the Gulf Cooperation Council (GCC), Jasem Mohamed Al-Budaiwi, denouncing it as follows: “The secretary-general pointed out that the continuation of these treacherous attacks is a flagrant violation of the principles of international law, the Charter of the United Nations, and the principles of good neighborliness.” The GCC statement added: “His excellency affirmed the GCC countries’ full support for the state of Kuwait in all measures it takes to preserve its security and stability, and the safety of its citizens and residents,”

A separate statement from Saudi-led Gulf allies further condemned the act of ‘terrorism’ – per Al Aljazeera:

The United Arab Emirates, Qatar and Saudi Arabia have condemned a missile attack on a US airbase in Kuwait with only the UAE expressly naming Iran as responsible for the “terrorist attacks”.

In statements shared on social media, the foreign ministries of the UAE, Qatar, and Saudi Arabia said they consider the attack “a flagrant violation” of Kuwait’s sovereignty, and expressed their countries’ “full solidarity” with Kuwait and “support for all measures” it takes to preserve its sovereignty, security and stability.

Two US-Iran Clashes Incidents This Week

This marks the second live-fire attack flare-up this week, after earlier Wednesday Iran fired drones on American and other foreign commercial vessels in the Strait of Hormuz.

“American F/A-18, F-16 and F-35 jet fighters shot down the drones, then the F/A-18s hit the ground-control unit before it could launch a fifth drone, one of the officials said,” The Wall Street Journal summarizes of that first incident.

State TV released video of the ballistic missile launch targeting a US base in Kuwait:

Stalemated Talks Hung Up on Nuclear Issue

It seems that Iran is asserting some red lines through single, sporadic attacks, when it perceives a US military violation of its sovereignty. WSJ cites the following:

The spokesman for the National Security Commission in Iran’s parliament said Trump’s unwillingness to acknowledge that the U.S. and Tehran were still at war was a sign of his weak negotiating position. “Diplomats should not let go of the enemy’s weak point and should impose maximum demands on them,” the spokesman said.

Currently, negotiations are still primarily stuck on the nuclear issue. President Trump has vowed not to let off sanctions pressure until Tehran agrees to dismantle its nuclear program by handing over highly enriched uranium to be transferred off its territory. Iranian officials say this simply will not happen, and that it would be tantamount to handing over the country’s sovereignty. Tehran has insisted the nuclear file must be dealt with after the war is over, and later on down the line.

More Latest Developments

Round-up via Newsquawk…

  • US official said US military carried out new strikes on an Iranian military site and shot down multiple Iranian drones that posed a threat to US forces and commercial maritime in the Strait of Hormuz.
  • IRGC said it targeted the US air base in response to the US aggression earlier near Bandar Abbas Airport, according to Tasnim. said:. Any further US attacks would trigger a more decisive response. Washington bears responsibility for consequences.
  • Military source tells Tasnim that hours ago, a US oil tanker intended to cross the Strait of Hormuz by turning off radar system, but IRGC Navy fired at it and forced it to turn back, while US army fired into Bandar Abbas but caused no damage. This was the cause of the earlier reported explosions. No casualties or damages were caused by the US, which fired at a scorched-earth area.
  • Iran’s Navy forced four vessels to turn back in the Strait of Hormuz by firing warning shots, according to Tasnim.
  • Sound of three explosions heard from the east of Bandar Abbas, Iran, with exact location and source of the sounds still unclear, while air defences were activated for a few minutes, according to Fars News Agency.
  • “Hearing the sound of multiple explosions in Kuwait”, ISNA reported, “Kuwait’s official news agency stated that air defense systems are currently countering missile and drone attacks” [likely referring to earlier reported].
  • Air raid sirens sounding in Kuwait, while Kuwaiti Army said air defense intercept hostile missile and drone attacks, according to Al Hadath.
  • Commentary
  • US Treasury Secretary Bessent said Gulf Strait Authority action targets Hormuz tolls, adds the Treasury is maintaining maximum pressure on Iran.
  • Iranian National Security Council Official Bagheri said Iran’s assets must be released unconditionally, Tasnim reported.
  • US issues fresh Iran-related sanctions by adding Persian Gulf Strait Authority to its SDN list.
  • US has carried out a defence operation in Bandar Abbas, Iran, according to Faytuks Network citing an official that said, “the US will act to safeguard its regional interests, and this does not affect the ceasefire”.
  • Iran Supreme National Security Council Deputy Secretary Baqeri met with Russian Deputy Foreign Minister Ryabkov, and discuss a number of important issues on the current international agenda with focus on the situation around Iran’s nuclear program. Via IRNA/Telegram.
  • Deputy Head of Public Relations for the IRGC Aerospace Force, Ali Naderi, said on Wednesday If enemies launch military action again, the Islamic Republic’s response will be different from anything seen so far. said: “…they will face a new image of Iran”.
  • Head of Iranian Parliament National Security Committee said Iran will not be pushed back by US President Trump’s rhetoric from its red lines: rights to enrich uranium and its possession, authority over the Strait of Hormuz and removal of sanctions.
  • IRIB reporter said no signs of an explosion have been seen in Bandar Abbas, while some people have heard the sound of this explosion and none of the officials concerned about the matter have issued any official statement.
  • Axios reported that US military had shot down 4 Iranian drones targeting ships and an Iranian drone launcher on the ground.
  • Israeli fighter jets carry out attack on the city of Tyre in southern Lebanon, according to Mehr News Agency.
  • Hamas spokesperson said the Gaza ceasefire agreement faces risk of collapse due to occupation’s crimes and ongoing violations, Al Jazeera reported.
  • IDF said it’s striking Hezbollah infrastructure in the area of Tyre in southern Lebanon.

Tyler Durden
Thu, 05/28/2026 – 16:05

Beirut Rocked By Israeli Airstrikes After Month Of Quiet, 14 Dead

Beirut Rocked By Israeli Airstrikes After Month Of Quiet, 14 Dead

For several days, the Israelis have been warning of new military strikes on Lebanon’s capital. People have been seen flooding out of the southern suburbs which have been a historic stronghold of Hezbollah support.

Amid ongoing ground fighting between IDF and Hezbollah forces in the south, Thursday finally saw heavy airstrikes on the capital. “An Israeli strike hit a building in the southern suburbs of the Lebanese capital on Thursday, killing at least 14 people, the first strike to hit near Beirut in weeks amid a ceasefire that has failed to halt fighting between Israeli troops and Hezbollah in south Lebanon,” Reuters reports.

Follow-up reporting indicates the death toll across the nation amid the flare-up in bombing raids is at 16 and counting, amid emergency crews picking through the rubble:

At least 16 people have been killed and 58 wounded in Israeli attacks in southern Lebanon, according to Lebanese health authorities, as Israel intensifies its assault and issues mass displacement orders across the region.

Lebanon’s state-run National News Agency reported on Thursday that six of the victims belonged to the same family. They were killed in an Israeli drone strike while trying to flee at dawn along the Adloun Highway, a key route linking Sidon and Tyre, it said.

Israeli strike on Tyre in southern Lebanon on Thursday, May 28, 2026. via AFP/AJ

The Israeli military confirmed what it called a “precise strike” but did not initially disclose who or what it was after.

Officials were later cited in Reuters as saying the target was the head of the missile division within the Imam Hussein Division, a paramilitary group which is closely aligned with Hezbollah and Iran. The man was identified as Ali Al-Husseini.

Reuters underscores that it has been a month since Israeli airstrikes last rocked the Lebanese capital: “Apart from a strike on Beirut’s southern suburbs in early May that killed a Hezbollah commander, the capital and its suburbs had been spared new bombardment during the truce,” the report indicates.

But now, illusions of ‘quiet’ in Beirut have been shattered, as war returns to the whole country, given also Israel has long targeted other parts of the small Levantine Mediterranean nation like Bekaa Valley.

Prime Minister Benjamin Netanyahu announced Tuesday that Israel is “intensifying operations” in Lebanon by taking strategic positions deeper into the country with a wave of offensives north of the Litani River.

Officially, Tel Aviv is justifying the deep territorial grab as a “defensive” counter-measure against persistent Hezbollah drone strikes on occupation forces as well as communities in northern Israel.

“We are intensifying our operations in Lebanon. The IDF is operating with significant forces on the ground and taking control of strategically dominant positions. We are reinforcing the security buffer zone in order to protect the communities of northern Israel,” Netanyahu has said in a fresh video released by his office.

“At the same time, we are carrying out a major national effort to advance creative and innovative solutions against explosive drones,” he added, following a meeting with Defense Minister Israel Katz and IDF Chief of Staff Lt. Gen. Eyal Zamir in Tel Aviv.

The ground offensive comes as hawkish Israeli cabinet members openly lobby for a substantial escalation of the war and permanent occupations deeper into sovereign Lebanese territory.

Tyler Durden
Thu, 05/28/2026 – 15:40

US To Start New Trade Talks With Mexico

US To Start New Trade Talks With Mexico

Authored by Tom Gantert via The Epoch Times,

The Trump administration said Wednesday it will begin a series of trade negotiations with Mexico this week tied to the first review of the U.S.-Mexico-Canada Agreement (USMCA), with no talks involving Canada announced so far.

The talks are part of the first formal review process for the U.S.-Mexico-Canada Agreement since it replaced the North American Free Trade Agreement in 2020.

U.S. Trade Representative Jamieson Greer speaks during a tour of the Atomic Industries manufacturing facility in Warren, Mich., on April 9, 2026. AP Photo/Julia Demaree Nikhinson

The U.S. Trade Representative’s office said the negotiations will focus on economic security, industrial rules of origin, agriculture, and maintaining what it described as a “level playing field” for American workers and businesses. Rules of origin determine how much of a product must be manufactured within North America to qualify for tariff-free treatment under the trade pact.

The announcement made no mention of negotiations involving Canada, despite the agreement formally including all three North American countries.

U.S. Sen. Todd Young (R-Ind.) stated on X that the first review of the USMCA “will be a key test of whether the pact reinforces confidence in the North American market or creates more uncertainty.”

“The prices of fertilizer, fuel, and equipment, and whether corn, soybeans, and pork have steady buyers, all hinge on the outcome,” Young wrote.

Young said the USMCA “is not perfect” and said that Mexico’s threats against U.S. corn products and Canada’s import controls of its dairy market “should be confronted directly.”

The United States expects tariffs to be part of trade negotiations with Mexico this week as officials begin discussions on renewing the USMCA, U.S. Trade Representative Jamieson Greer said May 26.

Speaking at the Council on Foreign Relations in Washington, D.C., Greer said President Donald Trump remains concerned about the U.S. trade deficit with Mexico and indicated tariffs would remain part of U.S. trade policy. He also said negotiators are expected to discuss increasing requirements for American-made content in goods produced in North America.

Greer said Mexico has benefited from U.S. efforts to diversify supply chains away from China and said the administration wants a broader distribution of production. He added that the United States wants more supply chains based in the Americas following shortages experienced during the COVID-19 pandemic.

Greer said negotiations with Mexico are expected to be productive, but described trade talks with Canada as more difficult. Canada and China were the only countries that retaliated against the United States over tariffs.

U.S. officials said the negotiations are intended to strengthen North American manufacturing and reduce reliance on overseas supply chains.

Tyler Durden
Thu, 05/28/2026 – 15:20

Trump Dismisses Delaney Hall Protesters As ‘Paid’ Amid Growing Scrutiny Of ICE Detention Facility

Trump Dismisses Delaney Hall Protesters As ‘Paid’ Amid Growing Scrutiny Of ICE Detention Facility

Authored by Evgenia Filimianova via The Epoch Times,

President Donald Trump has dismissed protesters outside a New Jersey immigration detention facility as “fake” and “paid for” as demonstrations intensified and Democratic lawmakers demanded investigations into conditions inside the center.

Video footage from the scene showed protesters clashing with ICE agents outside the Delaney Hall detention facility in Newark, New Jersey, on May 25 as tensions escalated over immigration enforcement.

Speaking during a Cabinet meeting on May 27, Trump praised federal immigration officials amid allegations of medical neglect and “perpetrating cruelty” against people.

“These aren’t protesters,” Trump said. “These people are fake. They’re all paid for.”

Trump also said Immigration and Customs Enforcement (ICE) officials “run the finest facilities anywhere in the world of their type.”

The comments came after days of protests outside Delaney Hall, where detainees and family members accused officials of poor medical care and mistreatment inside the privately run immigration detention center.

The controversy escalated this week after Reps. Daniel Goldman (D-N.Y.) and Jerrold Nadler (D-N.Y.) conducted an oversight visit at the Newark facility.

Nadler said in a May 27 post on X that what he observed inside the detention center was “deeply disturbing” and warranted further investigation.

“The medical neglect—denying people access to potentially life-saving care and withholding necessary medicine—is abhorrent,” Nadler wrote, calling for Delaney Hall to be closed immediately.

Sen. Andy Kim (D-N.J.) said he rushed to the facility on May 24 after hearing detainees had launched a hunger strike.

In a series of May 24 posts on X, Kim described seeing an 18-year-old high school student “crying and saying she just wanted to graduate senior year,” a pregnant woman allegedly unable to receive full obstetric care, and another woman who allegedly suffered a miscarriage while detained.

Kim said that the Trump administration and congressional Republicans are spending “tens of billions of dollars” on detention policies that he described as “perpetrating cruelty against people.”

Trump Administration Rejects Allegations

The Department of Homeland Security (DHS) rejected accusations surrounding conditions inside Delaney Hall and said that Democratic politicians are spreading misinformation about the facility.

DHS said in a May 25 statement that detainees receive “3 meals a day, clean water, clothing, bedding, showers, soap, and toiletries.”

The agency also said detainees have access to phones, lawyers, and medical care, including dental and mental health services.

“For many illegal aliens, this is the best healthcare they have received their entire lives,” said Acting Assistant Secretary Lauren Bis.

Immigration and Customs Enforcement (ICE) agents stand near a gate at a detention centre in Newark, N.J., on May 7, 2025. Timothy A. Clary/AFP/Getty Images

She said the actions of those she described as “sanctuary politicians” were a political stunt for fundraising clicks.

“There is no hunger strike at Delaney Hall. There are no subprime conditions or abuse at the facility,” Bis said.

Kim alleged on May 24 that he had seen hunger strikes at the center.

Delaney Hall houses individuals accused or convicted of crimes, including murder, sexual assault, and drug trafficking, the DHS said.

“These types of smears are contributing to our officers facing a more than 1,300% increase in assaults against them as they remove the worst of the worst,” Bis said.

During the Cabinet meeting, U.S. Homeland Security Secretary Markwayne Mullin criticized Democrats for protesting outside the facility.

“It shows the radical left Democrats’ priorities,” Mullin said, describing detainees as “rapists, child predators, murderers,” and drug dealers.

He also said that local police have refused to intervene during demonstrations.

Mullin also dismissed reports of a hunger strike, saying only a small number of detainees had refused food because they wanted meals tied to their ethnic preferences.

He said detainees were receiving adequate food, sanitation, and care, adding, “This isn’t Holiday Inn.”

Protests outside Delaney Hall have continued for days as immigration activists, community groups, and Democratic officials demand greater transparency over conditions inside the detention center.

Trump said protesters carried professionally produced signs.

“You can see by the signs,” Trump said during the Cabinet meeting. “The signs are all made by the same beautiful factory.”

Delaney Hall is owned and operated by private prison contractor GEO Group under a 15-year contract with ICE. The group announced the contract in February 2025.

Tyler Durden
Thu, 05/28/2026 – 14:40

EU Wants Crisis Powers To Seize Control Of Chip Supplies, Seeks Restrictions On Chinese Imports

EU Wants Crisis Powers To Seize Control Of Chip Supplies, Seeks Restrictions On Chinese Imports

The EU – which is badly lagging the rest of the world when it comes to AI development – is preparing sweeping emergency powers to intervene in Europe’s semiconductor supply chains during shortages, including by forcing chipmakers to override existing contracts, the FT reported. So much for the sanctity of those “contract-backed” backlogs… 

The draft law also enables common purchasing to boost the bloc’s negotiating power, and would mark a clear expansion of the EU’s powers to intervene directly in industrial supply chains.

Amid tensions between Beijing and Washington, there are growing fears in Europe that semiconductors can become a tool of economic coercion, heightened by European reliance on Taiwan for high-performance chips.

The clearest example of Europe’s heavy hand was laid bare last year when the Dutch government took control of chipmaker Nexperia from its Chinese owner over concerns that it was moving production and assets out of Europe. The flow of chips from Nexperia’s China arm slowed dramatically, forcing some European car companies to reduce production.

The Dutch government last year took control of chipmaker Nexperia from its Chinese owner over concerns it was moving production out of Europe

The draft law, which is still subject to change ahead of its expected publication next week, would allow the European Commission far-reaching powers in the event of semiconductor shortages that threaten supplies of weapons, medical devices, digital infrastructure and other key categories of goods. In such a crisis, the Commission could impose fines of up to €300,000 on companies that fail to provide requested information on their supply-chain capacity. It could also “force semiconductor manufacturers to prioritize orders for crisis-critical products, overriding existing contracts”, the draft reads.

Brussels could also enable common purchasing to “strengthen negotiating power and prevent competition between EU countries for limited supplies”. The Commission would then act as a central buyer for multiple EU countries, as it did to acquire vaccines during the pandemic.

According to the FT, the so-called Chips Act forms part of a wider push from the bloc to reduce its dependence on US technology by backing European alternatives in sectors from semiconductors and cloud computing to AI. In the document, Brussels acknowledges that the bloc is “almost entirely dependent on the US and Asia” for the most advanced chips.

Semiconductor supply chains are vast and complex, with a typical Nvidia system tapping thousands of suppliers in dozens of countries. And yet, the EU currently produces less than 10% of global semiconductors. Earlier plans to double the EU’s global market share in semiconductors by 2030 are far behind schedule.

The bloc, like the rest of the world, is overwhelmingly dependent on Taiwan for its supply of high-performance chips, with the home of semiconductor company TSMC accounting for more than 90 per cent of leading-edge chip manufacturing. China has made repeated threats to use force against Taiwan if Taipei continues to resist its sovereignty claims. Any conflict in the region could cause global shortages of components critical to electronics from smartphones and AI data centres to cars and medical gear. 

Separately, the Guardian reports that EU commissioners will meet on Friday for talks aimed at imposing new restrictions on imports from China amid growing concern that Beijing is fuelling conditions for US-style rust belt towns in Europe.

The surge in imports of everything from electric cars to key components in machines, medical devices and food stuffs – which many including us warned long ago would lead to collapsing European domestic production as Chinese exports are dumped in European markets and overwhelm local producers – has been dubbed China Shock 2.0, potentially mirroring the experience in the US 25 years ago when Beijing joined the World Trade Organization.

Ironically, it was the Trump administration which warned that Europe’s attempts to offset US sanctions by overreliance on China, would lead to just this outcome. Well, Europe is now there. 

Commissioners representing each member state have been asked to bring examples of Chinese activities in all 27 portfolios, spanning trade to agriculture, defence, health and digital initiatives to the talks. While no decisions would be taken on Friday but the talks would help “align” the commission’s thinking and address overproduction in China, which is leading imports into the EU to be sometimes up to 40% cheaper than local products.

It will also feed into the next leaders summit on 18 June when China will be one of the handful of items on the agenda.

Ignacio García Bercero, a senior fellow at the Brussels thinktank Bruegel and a former official at the European Commission’s trade department, said the EU needed to formulate “a clearer strategy about how to deal with China”.

He said quotas and tariff rate quotas could be introduced on Chinese goods, as they were safeguards that were much faster to implement than tariffs and could focus on areas that China is targeting, such as hybrid cars and chemical components.

“I think that sometimes there’s a little bit of a tendency to sound very tough, but then not to act tough, and I don’t think that is a clever way to handle things.”

He said while showing it was prepared to act, the EU must also engage with China.

“The US has an engagement with China, Canada has an engagement with China. Everyone is having an engagement with China. I think in my view … we need to find a way to make sure that we are properly respected by China when we have that engagement.”

Earlier this month industry leaders told the Guardian of fears that EU factories would cannabilise themselves through their reliance on Chinese components, an issue which rarely makes the headlines.

Longer term, the EU could also look to a slew of laws: its never used anti-coercion instrument; legislation such as the cybersecurity act 2.0 that could stop procurement of certain Chinese products and the industrial accelerator act commonly known as the “made in EU” law.

Grzegorz Stec, the head of the Brussels office of the Mercator Institute for China Studies (Merics), said China has not set out to destroy European business but it is potentially the consequence of its steeling focus of the survival of its own industries now, and into a post-AI world future.

Tyler Durden
Thu, 05/28/2026 – 13:00