U.S. President Donald Trump recently convened a meeting with leading technology figures including Nvidia’s Jensen Huang, Elon Musk, and Mark Zuckerberg to sign a “morally binding” agreement focused on the development of artificial intelligence. This voluntary pact emphasizes self-regulation in the AI industry, with the administration considering the creation of a 10-person oversight committee. Trump also issued an executive order mandating that all executive branch communications replace “artificial intelligence” with the term “super intelligence,” a move that was distinct from the signed agreement.

Meanwhile, OpenAI hosted its annual DevDay conference unveiling several new products and features such as "Dots," an always-on AI assistant designed to aid users with various tasks. The company confirmed there may be a new funding round in the vicinity of $30 billion. However, OpenAI continues to wrestle with safety concerns, having postponed the release of its latest Astra model amid intensifying debates over AI risk and alignment.

In trade news, the U.S. government implemented import bans on approximately $19.9 billion worth of Canadian goods, including vehicles, dairy, and alcohol. This development marks an escalation in the trade dispute between the two countries, with Washington pressing for concessions while Ottawa remains cautious, insisting any agreement must align with Canadian interests. Canadian Trade Minister Dominic LeBlanc emphasized that Canada is preparing to act decisively without waiting on negotiations.

U.S. financial markets faced pressure as Treasury yields climbed to multi-decade highs, with the 30-year bond surpassing 5.6%, the highest level since 2002. The uptick in yields contributed to consecutive daily declines across major stock indexes. Investors are now focusing on the upcoming personal consumption expenditures (PCE) report, which is expected to show inflation rates still above the Federal Reserve’s 2% target, potentially influencing future monetary policy decisions.