Trump claims $5,000 "election dividend" does not require congressional approval.
According to a report by CBS News, U.S. President Donald Trump previously proposed that if the Republican Party retains control of both the House of Representatives and Senate after the midterm elections, he would distribute a $5,000 "Trump Dividend" to every U.S. citizen. The day after unveiling the plan, when reporters asked whether the funds would require congressional approval, Trump said: "Well, we don’t think so. If it were necessary, Congress would definitely act, but we don’t see a need. The country is currently on a strong growth path, and we have collected trillions of dollars in revenue through tariffs and other channels. Today, total investment in manufacturing plant construction and other projects in the U.S. exceeds $20 trillion, a scale far larger than any prior period. We view this as a positive development. However, we have one prerequisite: the funds must be spent domestically in the U.S. — we do not want this money to flow to other countries. We believe this is a very good measure, widely popular, and will inject strong momentum into the economy."
22 minutes ago
Microsoft has lost business due to computing power shortages, and plans to expand its data center capacity by more than three times in the future.
According to people familiar with the matter, Microsoft (MSFT.O) plans to significantly expand its data center scale, with global data center capacity exceeding 38 gigawatts by 2032—more than tripling from the current approximately 12 gigawatts. The initiative aims to ease computing power shortages driven by the rapid growth of AI and cloud services in recent years. Microsoft had previously turned down some AI and cloud service business due to insufficient capacity, insiders added. The roadmap includes data centers built and leased by Microsoft itself, but excludes computing resources rented from "novel cloud service providers" like CoreWeave. The relevant plans may still be adjusted based on customer demand and technological changes. Microsoft’s latest fiscal year capital expenditure reached $145 billion, and analysts expect this spending to continue growing in the coming years. Microsoft had paused some data center construction before, leading to limited computing power supply and prompting some customers to switch to competitors. Documents show Microsoft once restricted new cloud service subscriptions in key regions across the U.S. and Europe. Microsoft stated it is accelerating data center construction.
22 minutes ago
US Treasury selective in US Treasury repo operations, rarely fails to purchase the full cap.
In U.S. Treasury Secretary Scott Bessent’s first expanded-scale Treasury repurchase operation, the amount of long-dated Treasuries purchased fell short of investor expectations, exacerbating a selloff and pushing U.S. long-term bond yields to multi-year highs. On Thursday, the Treasury bought $5.187 billion in 10- to 20-year Treasuries, below the previously announced maximum repurchase size of $6 billion. The 10-year U.S. Treasury yield rose to its highest level since 2023 following the operation. Investors submitted a total of $10.5 billion in bond sell offers to the Treasury in this round. While the Treasury is not obligated to purchase the full maximum amount, this marks only the third time it has opted not to buy the full cap in 53 long-dated Treasury repurchase operations since the program was relaunched in 2024. Molly Brooks, a strategist at TD Securities, noted: “This signals the Treasury is being more selective than usual. If the Treasury wants to meet market expectations and complete the full repurchase amount to lower long-end rates, it may need to accept less attractive bids in future operations. At the very least, the precedent of the Treasury buying 100% of the maximum cap in the past has been broken, which could help realign market expectations.”
22 minutes ago
Jensen Huang denies that AI infrastructure investments constitute circular financing.
According to a Wall Street Journal report, NVIDIA (NVDA.O) CEO Jensen Huang responded to external queries about the chipmaker’s financing arrangements for data center and artificial intelligence infrastructure projects at a Goldman Sachs conference. When asked if these investments constituted circular financing, Huang replied: “I put in $1, and $100 comes back in the end. Is that circular?” He described the relevant transactions as a “very smart strategy” that helps NVIDIA build distribution channels for its technology architecture. Huang noted that NVIDIA’s financial support for data center and AI infrastructure projects is not simple circular funding, but rather aimed at driving the adoption of its architecture in the market.
22 minutes ago
US officials say Iran's oil loading volume has dropped significantly.
US officials said that over the past week, seaborne Iranian oil or suspected Iranian oil averaged around 110 million barrels, down from 180 million barrels before the war. Iran’s oil unloading volume has fallen from 1.4 million barrels per day (bpd) to 900,000 bpd pre-war. Over the past 30 days, Iran’s oil loading volume stood at roughly 200,000 bpd, lower than the 1.8 million bpd recorded in January and February.
22 minutes ago
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