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Data: U.S. Bureau of Economic Analysis, FactSet; Chart: Axios/Matt Phillips; Note: After-tax profit data includes inventory and capital depreciation adjustments.
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Data: U.S. Bureau of Economic Analysis, FactSet; Chart: Axios/Matt Phillips; Note: After-tax profit data includes inventory and capital depreciation adjustments.
The trillion-dollar AI race is moving from software to silicon, as Microsoft's massive bet on its proprietary Maia chips proves Big Tech wants to wean itself off Nvidia's dominance.Why it matters: Microsoft's plan to power its AI products with custom silicon shows how every major Nvidia customer is…
Data: RealClearPolitics, American Presidency Project; Note: Nebraska's Senate race is between a Republican and an independent; Chart: Erin Davis/AxiosMove over Wisconsin and Arizona.
Federal agents conducted a pre-dawn search Monday at the Washington home of Rep. Ilhan Omar (D-Minn.) as part of an ongoing immigration probe, a DOJ spokesperson confirmed to Axios.Why it matters: Searching Omar's home marks a substantial escalation of the Trump administration's fight with the…
Both parties will be pressured to intervene more in markets after the midterms as economic frustration animates the new Congress, according to an FGS Global sketch of 2027 Washington scenarios, shared first with Axios.Why it matters: In a Trump-dominated Washington, Congress ceded much of its power…
President Trump has privately shared misgivings about livestreaming the firing-squad execution of a former Army major who murdered 13 people at Fort Hood in Texas, according to four people who have spoken with the president.Why it matters: Trump has been deluged with "negative input" about the idea…
Stanford University's Robert E. Hall and Columbia University's Michael Woodford won the Nobel Prize in economics for research on how policymakers can stabilize economies, the Royal Swedish Academy of Sciences said on Monday.Why it matters: Their work helped shape how central banks set interest…
A federal judge on Sunday ordered the Trump administration to immediately halt taxpayer-funded ads featuring President Trump.Why it matters: The ruling temporarily blocks the ads weeks before November's midterm elections as multiple lawsuits challenging the Trump administration's use of taxpayer…
Pete Buttigieg has been able to campaign for Democrats across the country more than many of his potential 2028 rivals this past year. One reason: He doesn't have a job.That's by choice. Buttigieg said no when top Democrats urged him to run for governor or the U.S.
President Trump's announcement Sunday about an "energy ceasefire" between Russia and Ukraine referred to a potential deal that includes each side stopping attacks on oil refineries — and he expects Volodymyr Zelensky to abide by it, a White House official said.
President Trump claimed Sunday that Russia and Ukraine agreed to an "energy ceasefire" and will halt attacks on each other's energy facilities.Ukrainian President Volodymyr Zelensky tells Axios the announcement "was news for me.
Hollywood's hottest villain right now is the tech billionaire.Four films hitting theaters this fall put some of Silicon Valley's most powerful and controversial figures in the spotlight: Elon Musk, Mark Zuckerberg, Sam Altman and Elizabeth Holmes.Why it matters: Hollywood's portrayal of Silicon…
Pope Leo said Sunday tests had discovered a nodule in his lung, which he will have removed surgically this week.The big picture: The first American pontiff, aged 71, is less than 18 months into a papacy that has been defined by public stances that put him at odds with the White House, including…
America's youth sports boom is quietly rewriting Sunday mornings, turning the family calendar into a competition between the pews and the playing fields.Why it matters: For generations, churches helped organize American family life around a shared weekly ritual.
Rep. Brian Fitzpatrick (R-Pa.) vowed Saturday to force a House vote to block Russian oil purchases, challenging President Trump's diesel deal with President Vladimir Putin.Why it matters: Trump has touted the deal as a way to lower fuel prices, but it could also provide revenue for Russia's war in…
President Trump called Saturday for Ukraine to replace President Volodymyr Zelensky with someone willing to make a deal with Russia to end the war. Why it matters: Trump's attack on Zelensky after the Ukrainian president criticized his diesel deal with Russia signals the most serious crisis between…
Tennessee inmate Christa Pike was released from the hospital and is back in prison more than a week after she survived the state's attempt to execute her by lethal injection, her attorneys said Saturday.The big picture: The failed execution was unprecedented.
President Trump decided to make a diesel fuel deal with Russia after Ukrainian President Volodymyr Zelensky ignored half a dozen U.S. requests to stop attacking Russian oil refineries, a U.S. official with direct knowledge told Axios.
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