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Exuberant Republicans, and at least one prominent Democrat, lauded President Donald Trump’s leadership on Saturday after the U.S. completed an attack on three Iranian nuclear sites.
‘Good. This was the right call. The regime deserves it. Well done, President @realDonaldTrump,’ Sen. Lindsey Graham, R-S.C., wrote on X.
Democratic Sen. John Fetterman, D-Penn., also said Trump made the right call.
‘As I’ve long maintained, this was the correct move by @POTUS,’ he said on X. ‘Iran is the world’s leading sponsor of terrorism and cannot have nuclear capabilities. I’m grateful for and salute the finest military in the world.’
Rep. Brandon Gill, R-Texas, wrote: ‘’Peace through strength’ means ensuring our existential enemies don’t acquire the most lethal and catastrophic weapons known to man.’
And former Florida Rep. Matt Gaetz called Trump a ‘peacemaker.’
‘President Trump basically wants this to be like the Solimani strike – one and done. No regime change war. Trump the Peacemaker!’ he wrote on X.
Rep. Mike Rogers, R-Ala., chairman of the House Armed Services Committee, said in a statement that the president ‘made the correct decision to strike Iran’s nuclear sites. Iran made the choice to continue its pursuit of a nuclear weapon and would only be stopped by force. It would be a grave mistake to retaliate against our forces.’
Sen. Tom Cotton, R-Ark., said on X, ‘Iran has waged a war of terror against the United States for 46 years. We could never allow Iran to get nuclear weapons. God bless our brave troops. President Trump made the right call and the ayatollahs should recall his warning not to target Americans.’
Republican Sen. John Barrasso of Wyoming, said Trump’s decision was the ‘right one. The greatest threat to the safety of the United States and the world is Iran with a nuclear weapon. God Bless our troops.’
House Speaker Mike Johnson, R-La., wrote on X that the U.S. ‘military operations in Iran should serve as a clear reminder to our adversaries and allies that President Trump means what he says.’
Johnson said that the president gave Iran ‘every opportunity to make a deal, but Iran refused to commit to a nuclear disarmament agreement. President Trump has been consistent and clear that a nuclear-armed Iran will not be tolerated. That posture has now been enforced with strength, precision, and clarity.’
He added that Trump’s ‘decisive action prevents the world’s largest state sponsor of terrorism, which chants ‘Death to America,’ from obtaining the most lethal weapon on the planet.’
However, Rep. Thomas Massie, R-Ky., who authored a war powers resolution to prevent the U.S. from getting involved in Iran said the attacks were ‘not constitutional.’
Rep. Ro Khanna, a Democrat from California, echoed Massie’s sentiments.
‘Trump struck Iran without any authorization of Congress. We need to immediately return to DC and vote on @RepThomasMassie and my War Powers Resolution to prevent America from being dragged into another endless Middle East war,’ he wrote on X.
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Until Saturday night, the world waited to see whether President Donald Trump would join Israel’s campaign against Iran’s nuclear infrastructure. Now we have the answer.
In a televised address from the White House, President Trump called the strikes a ‘spectacular military success’ and a ‘historic moment for the United States, Israel, and the world.’ He confirmed that Fordow—Iran’s deeply buried nuclear enrichment site near Qom—was among the targets, and warned, ‘There are many targets left.’ His message was clear: Iran must ‘make peace or face tragedy far greater than we have witnessed over the last eight days.’
The U.S. has struck decisively. Whether the strike succeeds in halting Iran’s nuclear program—as the president boldly claims—remains to be seen. What is clear is that the geopolitical fuse is lit, and the consequences are just beginning.
So far, the administration has not provided public evidence that Iran was mere ‘weeks away’ from building a nuclear bomb, as the White House press secretary alleged. That claim may have helped justify the strike, but it rests more on assumption than on firm intelligence.
Yes, Iran has enriched uranium to near weapons-grade levels—but that alone does not make a bomb. Tehran still needs to master warhead design, detonator synchronization, reentry shielding, and delivery systems. There is no verified proof it has done so.
As I wrote for Fox News last week, bombs can destroy facilities—but they cannot erase knowledge. Many of Iran’s scientists are still alive, and their motivation may now be stronger than ever.
Tehran now faces a choice: capitulate or retaliate. Based on history, ideology, and culture, the odds overwhelmingly favor retaliation.
Surrender is antithetical to Iran’s revolutionary mindset. The Islamic Republic has endured war, sanctions, and sabotage. Its leadership interprets resistance as divine duty. This strike may have weakened Iran’s enrichment infrastructure, but it will likely strengthen the regime’s resolve.
Iran retains extensive capabilities: ballistic missiles, global proxy networks, cyber weapons, and elite paramilitary forces. This is not the end—it is the beginning of a new phase.
- Regional attacks on U.S. assets: Iran will likely target American military bases and diplomatic posts in Iraq, Syria, and the Gulf states through proxy militias like Kataib Hezbollah or the Houthis. Any U.S. casualties could force a wider war.
- Disruption of oil routes: Iran could attempt to block or threaten the Strait of Hormuz, a chokepoint for nearly 20% of the world’s oil. Even a short disruption could send global energy prices soaring.
- Strikes on U.S. allies: Expect missile attacks or proxy assaults on Saudi Arabia, the UAE, and especially Israel. Iran’s allies in Lebanon, Syria, and Gaza are likely already preparing.
- Asymmetric attacks abroad: Iran’s global network of operatives includes sleeper cells in Latin America, Europe, and possibly the U.S. If Tehran believes it has little to lose, civilian targets and cyber infrastructure may be in its crosshairs.
If President Trump acted without solid intelligence, the risk is real: that we have provoked a long war on shaky grounds. Unlike the Iraq invasion in 2003, Iran’s enrichment program is genuine—but neutralizing it with airstrikes alone will not work. This war, if it escalates, will not be fought on our terms.
What is more, the strike could backfire politically inside Iran. Rather than destabilizing the regime, it may unify it. Public humiliation of key sites like Fordow plays directly into the regime’s ‘Great Satan’ narrative, fueling nationalism and quelling dissent.
The U.S. and its allies must now pivot quickly to containment, deterrence, and resilience. Air defenses must be reinforced. Cyber infrastructure must be secured. Intelligence agencies must track Iranian networks abroad. And most importantly, diplomatic channels must remain open—to allies and, when possible, to adversaries.
This is not the time for complacency. It is a time for clear strategy, disciplined leadership, and vigilance.
The deed is done. Iran’s nuclear sites lie in ruins—but its will to retaliate is not. President Trump’s triumphant tone— ‘Fordow is gone,’ he declared—may play well politically, but it also risks underestimating a hardened adversary.
Iran has absorbed assassinations, sanctions, and cyberattacks. It has endured war and isolation. What it has not done—what it is unlikely to do now—is give up.
The American people must be prepared—not just for victory narratives, but for volatility. The battlefield ahead is asymmetric, unpredictable, and global. It will test not only our military but our wisdom.
The question now is no longer whether we acted. The question is: Was it worth the cost?
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After President Donald Trump announced the U.S. had struck Iranian nuclear sites late Saturday, thoughts turned to whether American troops in the region are suddenly in increased danger.
On Sunday, officials from the Iran-backed Iraqi militant group Kataib Hezbollah said terrorists will resume offensives against American service members if there is any intervention by Washington in the Israel-Iran conflict, according to Reuters.
‘We are closely monitoring the movements of the American enemy’s army in the region. If America intervenes in the war, we will act directly against its interests and bases spread across the region without hesitation,’ a statement from Kataib Hezbollah Secretary-General Abu Hussein al-Hamidawi said.
Geographically, American troops may be at risk based on their location.
U.S. Central Command (CENTCOM) headquarters is located at Al Udeid Air Base, about 20 miles south of the Qatari capital of Doha. That major installation is only 300 miles from Iran.
Additionally, there are several U.S. military installations in Kuwait, which is close to the southern end of Iran, across a small piece of Iraq.
Al-Asad Air Base in Iraq, Naval Support Activity Bahrain, is in the tiny country just across the Persian Gulf from Iran.
Additionally, a United Kingdom-owned island in the Indian Ocean — Diego Garcia — is a major U.S.-U.K. military installation about 2,300 miles south of Iran. While much farther away, that site is likely one of the most strategically-crucial bases in the southern hemisphere that also is key to Naval presence in the Mideast region.
Before the strike, Iran issued a clear message: Doing so will come with consequences. Iran has cautioned that the U.S. will suffer if it chooses to become involved in the conflict, and previously issued retaliatory strikes against bases where U.S. troops were housed after the U.S. killed a top Iranian general in 2020.
‘The Americans should know that any U.S. military intervention will undoubtedly be accompanied by irreparable damage,’ Iran’s Supreme Leader Ayatollah Ali Khamenei said Wednesday, according to state media.
The Pentagon has bolstered its forces in the Middle East in light of the growing tensions, including sending the aircraft carrier Nimitz from the South China Sea to join the aircraft carrier Carl Vinson in the Middle East.
The U.S. currently has more than 40,000 U.S. troops and Defense Department civilians stationed in the Middle East. Here are some of the countries where U.S. military personnel are based and could face heightened threats:
Iraq
Roughly 2,500 U.S. military personnel are stationed in Iraq as of September 2024, and are assigned to Combined Joint Task Force–Operation Inherent Resolve, according to the Department of Defense. Their role in Iraq involves advising and supporting partner forces in the region to defeat ISIS.
Following the 2020 U.S. airstrike that killed Iranian Gen. Qassem Soleimani in Iraq, Iranian forces launched ballistic missile attacks at Erbil Air Base and Ain al-Asad Air Base in Iraq, where U.S. troops are stationed.
Jordan
About 350 U.S. troops are deployed to Jordan at a remote military base known as Tower 22, according to the Department of Defense.
In January 2024, three soldiers were killed and another 40 were injured when a one-way uncrewed aerial system struck Tower 22.
In May, ten New York Army National Guard soldiers were awarded the Purple Heart for the injuries they suffered in the attack. The Pentagon blamed an Iranian-backed militia for the attack.
Kuwait
The U.S. currently operates five bases in Kuwait: Camp Arifjan, Ali Al Salem Air Base, Camp Buehring, Camp Patriot and Camp Spearhead.
As of January, approximately 13,500 U.S. troops are based there and primarily are focused on eliminating the threat of ISIS, according to the U.S. State Department.
Qatar
Qatar hosts U.S. Central Command’s forward headquarters at Al Udeid Air Base, home of the Air Force’s 379th Air Expeditionary Wing, which Air Forces Central Command has dubbed the ‘largest and most diverse wing’ within the command. The wing includes airlift, aerial refueling intelligence, surveillance and reconnaissance, and aeromedical evacuation assets, according to Air Forces Central Command.
Bahrain
Naval Forces Central Command is based out of Manama, Bahrain, where it spearheads a coalition of regional and international partners that are focused on supporting task forces targeting counterterrorism, counter-piracy and maritime security in the region.
The Navy first established a base in Bahrain in 1971, which has hosted Naval Forces Central Command since 1983.
United Arab Emirates
Just 20 miles south of the United Arab Emirates capital of Abu Dhabi is Al Dhafra Air Base, home of the Air Force’s 380th Air Expeditionary Wing.
The wing includes unmanned aircraft including the RQ-4 Global Hawk, a remotely piloted surveillance aircraft.
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Sen. Bernie Sanders, I-Vt., was delivering remarks at a ‘Fighting Oligarchy’ rally in Tusla, Okla., on Saturday night when President Donald Trump announced the United States had successfully attacked three nuclear sites in Iran.
An aide interrupted Sanders’ remarks to deliver the message Trump had just blasted off on Truth Social.
‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan,’ Trump said in the post.
Sanders read the piece of paper with Trump’s Truth Social post to his supporters, shaking his head as the socialist senator processed what the president had just announced. ‘No more wars!’ the crowd chanted.
Trump added in the post: ‘All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.’
Sanders nodded along as the crowd continued to chant, ‘No more wars!’ before responding to the news in real time.
He said the news was not only ‘alarming,’ but ‘so grossly unconstitutional.’
‘All of you know that the only entity that can take this country to war is the U.S. Congress. The president does not have the right,’ Sanders shouted.
Sanders joins the bipartisan coalition in Congress who have called out the ‘unconstitutionality’ of Trump striking Iran without congressional approval.
A bipartisan War Powers Resolution was introduced in the House of Representatives this week as strikes between Israel and Iran raged on, and the world stood by to see if Trump would strike. Congress has the sole power to declare war under Article I of the Constitution.
The War Powers Resolution seeks to ‘remove United States Armed Forces from unauthorized hostilities in the Islamic State of Iran’ and directs Trump to ‘terminate’ the deployment of American troops against Iran without an ‘authorized declaration of war or specific authorization for use of military forces against Iran.’
‘The American people do not want more war, more death!’ Sanders said. ‘It might be a good idea if we concentrated on the problems that exist in Oklahoma and Vermont rather than getting involved in another war that the American people do not want.’
But Sanders told the crowd not to give up on their vision for America’s future.
‘In this moment in American history, what we have got to do in Vermont and Oklahoma, in Texas, all over this country, is stand up and fight back, and tell them this is our country!’ Sanders said.
Sanders has been a vocal opponent of the United States joining Israel in its war against Iran as Trump weighed striking its nuclear facilities.
‘Netanyahu is not the President of the United States,’ Sanders said on social media earlier this week.
‘He should not be determining U.S. foreign and military policy. If the people of Israel support his decision to start a war with Iran, that is their business and their war. The United States must not be a part of it,’ he added.
The democratic socialist has been a vocal opponent of Prime Minister Benjamin Netanyahu’s war against Gaza since Israel retaliated following Hamas’ terrorist attacks on Oct. 7, 2023.
After Israel launched preemptive strikes against Iran’s nuclear facilities last week, Sanders said it was ‘just his latest violation of international law,’ likening Netanyahu to a ‘war criminal.’
The Vermont senator was speaking at his second rally of the day, part of his southern swing of the ‘Fighting Oligarchy’ tour that Sanders started in response to Trump’s sweeping second-term agenda.
Rep. Greg Casar, D-Tx., and former Rep. Beto O’Rourke, D-Tx., are slated to join the Vermont senator at his rallies in Texas on Sunday.
And Rep. Alexandria Ocasio-Cortez, D-N.Y., joined Sanders on his Western swing of the tour earlier this year.
The tour targets deep red districts currently held by Republicans, a strategy picked up by Gov. Tim Walz, D-Minn., who hosted town halls in Republican congressional districts, and the Democratic National Committee (DNC) through their ‘People’s Town Halls’ across the United States.
Sanders also held a rally in House Speaker Mike Johnson’s hometown of Shreveport, La., on Saturday.
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Israel’s Ambassador to the United Nations Danny Danon, slammed Iran’s UN representative as ‘a wolf disguised as a diplomat,’ during a fiery session of the Security Council on Saturday, hours before the US struck three nuclear sites in Iran.
Following the US strike on nuclear sites in Fordow, Natanz and Isfahan, which President Donald Trump said had been ‘totally obliterated,’ Iran’s Ambassador to the UN Amir Saeid Iravani demanded another ’emergency meeting’ of the Security Council calling for condemnation ‘in the strongest possible terms’ of the US actions and for it not to go ‘unpunished.’
‘The Islamic Republic of Iran urgently requests the Security Council to convene an emergency meeting without delay to address this blatant and unlawful act of aggression,’ Iravani wrote in a letter to UN Secretary General António Guterres.
Iravani called the US strikes ‘premeditated, and unprovoked,’ and said it was a ‘flagrant violation of international law.’
Earlier, Danon, in response to similar allegations against Israel, highlighted the council’s hypcoricy, callilng the Iranian representative a ‘wolf disguised as a diplomat.’
‘How dare a representative of a regime that finances, arms and orchestrates terrorism all over the world, ask for compassion from this Council?’ Danon said during a council session on Saturday. ‘You are not a victim. You are not a diplomat. You are a wolf disguised as a diplomat, and we are done pretending otherwise.’
Following the US strike on Iran, which included five to six bunker buster bombs dropped on Fordow nuclear site and some 30 Tomahawk missiles fired against sites in Natanz and Isfahan, Danon told Fox News Digital that ‘after decades of ignoring the International community, Iran is trying to play victim and ask for sympathy from the Security Council.’
‘Sec Gen Guterres should be thanking President Trump for taking action and making the world a safer place — instead of condemning the U.S. for promoting peace through strength,’ Danon told Fox News Digital.
‘After years of the UN’s incompetence that allowed Iran to accelerate its dangerous nuclear weapons program, the U.S. has acted forcefully to prevent a destructive nuclear Iran from threatening Israel, the U.S. and the free world,’ he said.
‘I am gravely alarmed by the use of force by the United States against Iran today. This is a dangerous escalation in a region already on the edge – and a direct threat to international peace and security,’ Guterres said in a statement.
‘There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world,’ he added, calling on UN member states to ‘de-escalate and to uphold their obligations under the UN Charter and other rules of international law.’
An Iranian missile attack on Israel on Sunday, hours after the US struck nuclear facilities in Iran, scored direct hits in the cities of Tel Aviv, Haifa and Nes Ziona, causing widespread destruction but no immediate fatalities, Israeli authorities said.
Images shared by Israel’s first responders showed multistorey buildings with their sides blown away and windows shattered and single-family homes in ruins, as rescue crews searched the debris for survivors.
Israel’s first aid agency, Magen David Adom, said there were no initial reports of fatalities but dozens were injured and evacuated to hospital.
In a press briefing, Tel Aviv’s Mayor Ron Huldai said the damage in his city was ‘very extensive but in terms of human life, we are okay.’
‘Houses here were hit very, very badly,’ he said, adding that ‘fortunately, one of them was slated for demolition and reconstruction, so there were no residents inside. Those who were in the shelter are all safe and well.’
In Nes Ziona, a town just south of Tel Aviv, a house was directly hit by a missile and the surrounding buildings destroyed, but, according to Israeli media reports, the families were in their shelter.
Israel’s home front command on Sunday put the country back onto emergency footing, days after some of the restrictions on commercial centers and larger gatherings had been eased.
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Gold was on the decline this week, closing just below US$3,370 per ounce, after tensions in the Middle East pushed it past the US$3,430 level toward the end of last week.
All eyes were on the US Federal Reserve, which in a widely expected move left interest rates unchanged on Wednesday (June 18) following its two day meeting. The central bank cut rates in December 2024, but has kept them steady for its last four gatherings.
US President Donald Trump wasn’t pleased, calling Powell ‘too late’ in a Thursday (June 19) post on Truth Social. While speculation that Trump will fire Powell has died down, the president did recently say he intends to announce his next pick for the Fed leader position ‘very soon.’
Of course, Fed meetings are never just about rate decisions — experts often look to Powell’s post-meeting commentary to read between the lines of what’s said (and not said).
Tariffs were definitely in focus this time around, with Powell emphasizing that it’s still soon to tell how much of an impact they will have and how the Fed should react.
‘We have to learn more about tariffs. I don’t know what the right way for us to react will be. I think it’s hard to know with any confidence how we should react until we see the size of the effects’ — Jerome Powell, US Federal Reserve
Chris Temple of the National Investor, who offered another perspective on Powell’s comments.
He noted that while Powell didn’t say the Fed is going to abandon its 2 percent inflation target, it may be leaning in that direction. This is what he said:
The consensus still — although it was extremely close — is barely still for two 25 basis point rate cuts in the balance of 2025. Whether we get them or not, who knows, (but) that’s the current snapshot, which may well change. But that’s against a backdrop of admitting for the second SEP, summary of economic projections … in a row that inflation is going to continue to move back higher — that we’ve seen the best numbers for inflation — at the same time that GDP slows a bit.
So okay, you just told us that your favored inflation number, which is a lot of smoke and mirrors to begin with, is going to go back up to north of 3 percent, which is what they said yesterday. And yet you still — the consensus is you’re going to lower interest rates twice in 2025? So he did everything but come right out and admit that the 2 percent inflation target isn’t going to be reached.
Stay tuned to our YouTube channel for the full interview with Temple.
Bullet briefing — Silver hits 13 year high, SPUT raising US$200 million
Is silver’s price rise real?
Gold has stolen the precious metals spotlight in 2025, but this month silver is shining.
The white metal has been on the rise since the beginning of June, and this week it broke the US$37 per ounce mark for the first time in 13 years.
While silver is known to lag behind gold before playing catch up, it’s also known for its volatility. Its move has created excitement, but market participants are also wary of a correction.
When asked what factors are driving silver, Peter Krauth of Silver Stock Investor he said he sees a ‘perfect storm’ emerging. Here’s how he explained it:
You’ve got the macroeconomic picture that is I think certainly bullish for silver, like it is for gold and a lot of the other commodities. But I think at the same time you’ve got the market kind of coming to terms with the fact that silver is in a deficit, (and) it’s unlikely to be able to rectify that deficit for several years — in fact, the Silver Institute thinks we’re going to see record deficits at some point over the next five years.
And silver supply is unable to grow. We saw a peak 10 years ago in mined silver, and overall silver supply is essentially flat.
So flat supply, growing demand — demand that’s nearly 20 percent above supply — and our ability to meet those deficits is shrinking because we’re tapping into these aboveground stockpiles that have shrunk by about 800 million ounces in the last four years, which is the equivalent of an entire year’s mine supply. So it’s the perfect storm, it’s really all coming together. And I think that the market’s realizing that.
But does that necessarily mean silver is ready for a big breakout? Krauth has a target of US$40 by the end of 2025, but said silver could potentially go 10 percent above that.
For his part, Jeffrey Christian of CPM Group attributes the silver price boost to increased demand from investors, especially when it comes to exchange-traded funds and wholesale products.
He’s projecting a bumpier path forward for the metal:
You also have — the last time I looked it was like 490 million ounces of open interest in the July Comex futures contract. And that’s two weeks from first delivery. So most of the people (who) have those shorts – those are hedges of their physical inventories. They keep those hedges in place, but they roll them forward. So they’ll be buying back their Julys and selling September futures to keep that hedge in place with the next active futures contract. That buying back of the Julys could push silver prices higher.
So if you really want to talk granular prices, we wouldn’t be surprised to see the price of silver fall to US$33, US$34 an ounce, and go up to US$40 an ounce and then back to US$33 an ounce over the next four weeks.
Click the links above to watch the interviews with Krauth and Christian.
SPUT raising US$200 million
The uranium spot price made moves this week after the Sprott Physical Uranium Trust (TSX:U.U,OTCQX:SRUUF) announced a US$100 million bought-deal financing on Monday (June 16).
It was bumped up to US$200 million the same day due to strong demand.
Spot uranium has been in a consolidation phase since hitting triple-digit levels in early 2024, creating frustration among those who are waiting for the industry’s strong long-term fundamentals to be better expressed. This week’s move past US$75 per pound has helped reinvigorate investors.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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This week, Microsoft (NASDAQ:MSFT) and OpenAI’s once tight alliance showed signs of strain, while Meta Platforms (NASDAQ:META) continued to source artificial intelligence (AI) talent from rival companies.
Meanwhile, SoftBank’s (TSE:9434) CEO is considering a new chip and robotics venture in Arizona, and Google (NASDAQ:GOOGL) is looking to bring AI solutions to American cities.
Read on to dive deeper into this week’s top tech stories.
1. OpenAI and Microsoft partnership faces tension
Microsoft and OpenAI’s once-close partnership is reportedly entering a tense period of renegotiation as OpenAI restructures into a public-benefit company and seeks more autonomy.
According to sources for The Information, recent negotiations have centered on reducing Microsoft’s long-term revenue share in exchange for a 33 percent stake in the newly formed entity. Additionally, OpenAI would like to limit Microsoft’s access to future models such as Windsurf, which OpenAI acquired in May.
The company has competitive concerns with Microsoft’s GitHub Copilot, according to the people.
Tensions have risen enough that some OpenAI executives are even weighing antitrust action against Microsoft, according to sources for the Wall Street Journal. In a joint statement, both companies maintained they want to continue working together; however, the Financial Times reported on Wednesday (June 18) that if they can’t reach an agreement, Microsoft is prepared to walk away and rely on its existing contract with the startup, which extends until 2030.
2. SoftBank floats trillion-dollar robotics hub in Arizona
SoftBank is reportedly interested in a trillion-dollar infrastructure project and has reached out to Taiwan Semiconductor Manufacturing Company (NYSE:TSM) as a potential collaborative partner.
Sources for Bloomberg revealed on Friday (June 20) that SoftBank founder Masayoshi Son has approached the Taiwanese chipmaker to play a “prominent role” in a manufacturing park in Arizona codenamed “Project Crystal Land,” which may serve as a major production facility for AI-powered industrial robots.
The sources said SoftBank has also approached Samsung Electronics (KRX:005930) and other companies with the idea. SoftBank officials have reportedly engaged in discussions with federal and state government officials, including US Secretary of Commerce Howard Lutnick, to explore potential tax incentives for companies onshoring high-tech manufacturing.
In other semiconductor news, Texas Instruments (NASDAQ:TXN) said on Wednesday that it will spend more than US$60 billion building seven new semiconductor facilities across the US. Meanwhile, Amazon (NASDAQ:AMZN) announced over the weekend that it will invest AU$20 billion to expand data center infrastructure in Australia by 2029.
3. Intel reportedly planning sizeable layoffs
Intel (NASDAQ:INTC) is reportedly set to implement substantial layoffs, impacting 15 to 20 percent of its factory workforce, according to an internal memo distributed on Saturday (June 14) and obtained by the Oregonian.
This move comes amidst continuing efforts to overhaul a company lagging behind its peers.
For some time, Intel’s offerings have struggled to compete effectively against those of key rivals in the highly competitive market of AI products and chip divisions. In a concerted effort to address this gap and reinvigorate its innovation pipeline, Intel has also been actively recruiting top-tier engineering talent.
On Wednesday, Intel expanded its sales and engineering leadership team to include experienced professionals from Cadence Design Systems (NASDAQ:CDNS), Apple (NASDAQ:AAPL) and Google.
These strategic hires are intended to inject fresh perspectives and expertise into crucial engineering departments, directly contributing to the company’s ambitious plans to develop more competitive and advanced AI solutions.
4. Google partners with Conference of Mayors for city AI strategies
On Friday, Google announced that it has partnered with the US Conference of Mayors to help speed the adoption of city-wide AI strategies. With the announcement, the company released a playbook titled A Roadmap for America’s Mayor that provides a framework for city leaders to develop and host an “AI Adoption Workshop,’ which would be structured to help cities identify and explore how AI can support specific needs, drawing on experiences from other communities.
The roadmap suggests cities conduct a general survey to tailor workshop content by gathering information on current AI usage, as well as concerns and ideas for AI applications. Various approaches are suggested for drafting the strategy document, including a dedicated working group, an appointed lead drafter, a hybrid model or engaging external expertise, with a recommended deadline of four to six weeks post-workshop for the first draft.
5. Meta hires top AI talent
Sources for the Information indicated on Wednesday that Meta CEO Mark Zuckerberg is bringing Daniel Gross, CEO of Ilya Sutskever’s startup Safe Superintelligence, and former GitHub CEO Nat Friedman onboard.
According to the report, Gross and Friedman will both join Meta, with Gross leaving his startup to focus on AI products at Meta and Friedman taking on a broader role. Both are expected to work directly with Zuckerberg and Scale AI CEO Alexandr Wang, who signed a US$14.3 billion deal to join Meta last week.
In exchange, Meta will get a stake in NFDG, the venture capital firm co-owned by Gross and Friedman that has backed companies such as Coinbase Global (NASDAQ:COIN), Figma, CoreWeave (NASDAQ:CRWV), Perplexity and Character.ai.
On the most recent episode of his brother’s “Uncapped” podcast, OpenAI CEO Sam Altman said that Meta has also offered signing bonuses as high as US$100 million and large compensation packages to OpenAI employees.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Fearing the repercussions of a total regime collapse in Iran, Gulf Arab states have intensified their outreach to the Trump administration and Tehran over the past week.
The United Arab Emirates, a US ally that has long been opposed to an unsupervised Iran nuclear program, has been in contact with officials in Tehran and Washington to avoid further escalation, according to a top official, amid fears that instability in Iran could affect the region.
“We’re following the situation very closely… our diplomacy is working hard like many other countries,” Anwar Gargash, adviser to the UAE president, said on Friday. “Concerns have to be resolved diplomatically… there are many issues in the region (and) if we choose to tackle everything with a hammer, nothing will be left unbroken.”
Israel began an unprecedented attack on Iran last week, killing its top military brass as well as several nuclear scientists and destroyed part of its nuclear program. Iran has responded with a barrage of missile strikes on Israeli cities.
Gargash, who delivered a letter from US President Donald Trump to Iran’s Supreme Leader Ayatollah Ali Khamenei in March calling for nuclear talks, said any military escalation to the conflict will be “detrimental” for the whole region.
“This is setting us back. The language of conflict is overpowering the new language of de-escalation and economic prosperity for the region,” Gargash said.
Across the Gulf, growing anxiety about the conflict is driving efforts to prevent further escalation.
Saudi Arabia’s Crown Prince Mohammed bin Salman spoke with Trump and called for a de-escalation hours after Israel struck Iran on June 13. The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, also spoke to the president and called for the crisis to be resolved “through diplomatic means.”
“We have been making all the possible communication between all the parties regionally and abroad. These talks between us have been about finding a way out of the rabbit hole when it comes to this escalation,” the Qatari foreign ministry spokesperson Majed Al Ansari said Tuesday.
Last month, Trump was feted with grand welcomes and trillion-dollar deals when he visited three Gulf Arab nations for the first presidential visit of his second term. At the time, Trump praised the “birth of a modern Middle East” and signaled his intent to sign a deal with Iran to prevent it from building a nuclear bomb.
But after Israel struck and killed Iran’s military leadership and nuclear scientists, Trump shifted his rhetoric, teasing a possible US military intervention on Iran.
The president’s threats have his Arab allies worried and fearing Iranian reprisal attacks against the US on their soil, where the US has a significant military presence. Major exporters of energy, the Gulf states also fear that Iran may shut the Strait of Hormuz on its southern shore, through which a third of seaborne oil passes.
Nightmare scenario
Gulf Arab states, long critical of Iran’s nuclear ambitions and its support for proxy militias across the Middle East, have in recent years softened their stance toward Tehran, pivoting toward diplomacy and rapprochement to avoid conflict.
Experts warn that a US attack on Iran could draw it into a quagmire even more challenging than the wars in Iraq and Afghanistan – a drawn-out confrontation that could last the duration of Trump’s presidency and exact a heavy toll on American lives and resources at Israel’s behest.
“I don’t think anyone wants to see Iran slide to chaos, I think there is a broader desire and preference to deal with one bad actor rather than multiple bad actors,” he said.
“If there is in fact a diplomatic breakthrough… where Iran’s nuclear ambitions towards a nuclear weapon at least are capped, Iran is much weakened and stability returns, that’s a very positive outcome for (Gulf states),” he said.
“I would have to say, though, that the concern is that (Israeli Prime Minister Benjamin) Netanyahu drags the region and drags President Trump into further escalation by perhaps taking out Iran’s ability to export oil,” he added. “That might then take us in a much more negative direction in terms of blowback against Gulf (oil) facilities.”
Trump’s announcement on Thursday of a two-week diplomatic window now offers his Gulf Arab allies breathing space to push for de-escalation, following a week of unprecedented regional clashes that left the Middle East rattled and on edge.
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Lawmakers in Britain have narrowly approved a bill to legalize assisted dying for terminally ill people, capping a fraught debate in Parliament and across the country that cut across political, religious and legal divides.
MPs passed the bill by 314 votes to 291, in their final say on the question. The bill – which has split lawmakers and sparked impassioned conversations with their constituents the breadth of Britain – will now move to the House of Lords for its final rounds of scrutiny.
Friday’s vote puts Britain firmly on track to join a small club of nations that have legalized the process, and one of the largest by population to allow it.
It allows people with a terminal condition and less than six months to live to take a substance to end their lives, as long as they are capable of making the decision themselves. Two doctors and a panel would need to sign off on the choice.
Canada, New Zealand, Spain and most of Australia allow assisted dying in some form, as do several US states, including Oregon, Washington and California.
A charged debate
Friday’s vote in Parliament coincided with a charged public debate about whether the state should be dictating the choices available to Britons in the final moments of their lives.
Proponents included Esther Rantzen, a BBC TV presenter with advanced lung cancer, who argued that the choice would save millions from unnecessary suffering.
“If we don’t vote to change the law today, what does that mean?,” asked Kim Leadbeater, the MP who introduced the bill last year. “It means we will have many more years of heartbreaking stories from terminally ill people and their families, of pain and trauma, suicide attempts, PTSD, lonely trips to (clinics in) Switzerland, police investigations.”
The option, she said, is “not a choice between living and dying: it is a choice for terminally ill people about how they die.”
But opponents have criticized the bill on religious and ethical grounds, and raised issues with a legislative process they accuse of being opaque.
Former British Prime Minister Gordon Brown argued that fixing Britain’s strained end-of-live care system should be prioritized, writing in a rare intervention in The Guardian that the bill “would privilege the legal right to assisted dying without guaranteeing anything approaching an equivalent right to high-quality palliative care for those close to death.”
Seriously ill people “need the health and social care system fixing first,” Labour MP Vicky Foxcroft said in Parliament Friday. “They want us as parliamentarians to assist them to live, not to die.”
More scrutiny expected
Friday’s debate was concluded with a free vote, meaning that MPs were allowed to decide for or against the bill according to their conscience, and free from any party-line whipping. It was the third and final time MPs cast a vote on the topic, after an earlier reading in November.
Prime Minister Keir Starmer was among those who voted in favor of the bill, despite objections from some in the opposing camp that he abstain to prevent influencing other lawmakers.
Even though the bill passed, some of its critics were emboldened by Friday’s results; the effort lost the support of 16 MPs compared to November, after months of controversy over changes made to the bill during its committee oversight stage.
Most notably, an earlier provision that stipulated each case of assisted dying must be approved by two doctors and then a judge was removed, amid concerns over courts being clogged up. The bill was tweaked to instead require the approval of two doctors and a three-person panel.
“We clearly won the argument,” Tim Farron, the former leader of the Liberal Democrats who had opposed the bill, wrote on X on Friday following the vote.
“With a tiny majority and growing opposition from expert groups, the Lords will now rightly feel that they have the right to disagree,” Farron said in a now-deleted post. “To my pleasant surprise, this is not over!”
A handful of countries allow some form of assisted dying, but the particulars of the law differ widely. Britain’s proposed bill is broadly in line with the Oregon model, and does not go as far as Switzerland, the Netherlands and Canada, which allow assisted death in cases of suffering, not just for terminally ill people. It differs from euthanasia, the process in which another person deliberately ends someone’s life to relieve suffering.
It is currently a crime to help somebody die in England and Wales, punishable by up to 14 years in prison. Performing euthanasia on a person, meanwhile, is considered murder or manslaughter.
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