Axios

Playground Global, an early-stage venture firm focused on deep-tech, tells Axios that it's raised $475 million for its fourth fund.

Why it matters: Playground remains iconoclastic in a venture capital market that's largely turned conformist.

The tech and AI infrastructure industries are stepping up efforts to challenge the narrative that consumers are getting stuck with the bill for data center growth.

Why it matters: New analysis arguing the AI boom hasn't hit household budgets arrives amid a backlash to huge data centers.

Former Chicago Mayor Rahm Emanuel has been blasting out more national policy papers than any other potential 2028 presidential candidate.

• So far, polls show few voters care.

Why it matters: Emanuel has gotten national coverage for his plans, has hit the podcast circuit, appears regularly on CNN and writes a column for the Wall Street Journal. But he's barely a blip in early 2028 polls, as other potential candidates such as California Gov. Gavin Newsom have risen over the past year.

Some college classes are seeing a boom in students earning A's — many with the help of AI.

Why it matters: Universities and colleges were already concerned about how many students are earning A's and B's, but now must worry that graduates are leaving AI-proficient rather than knowledgeable about their subjects of study.

We knew the Cerebras IPO would whet public market appetite for new AI stocks, ahead of SpaceX next month, but not that it would look more like a nachos platter than an amuse bouche.

• Shares opened at $350 — a whopping 89% above its IPO price — and climbed as high as $385 before settling at $311.
• For context, it originally filed to price at between $115-$125, and just four months ago sold shares in a Series H round at $89.

The CEOs of Meta, Alphabet, TikTok and Snap have been invited back to Capitol Hill for a broad oversight hearing in June, Axios has learned.

• Senate Judiciary Committee Chairman Chuck Grassley is planning a June 23 hearing titled "Examining Tech Industry Practices and the Implications for Users and Families: Is This Social Media's Big Tobacco Moment?" per committee spokesperson Hannah Akey.

Three major conflicts are shaping America's AI race against China in real time, with changing global dynamics shifting the terms week by week:

• The race with China on advancing AI models
• Conflicting federal vs. state laws in the U.S.
• European AI policy

Why it matters: All three factors are fraught with politics and delicate dynamics, and all will help determine whether the U.S. continues to lead the world in advanced AI.

The stock market and the bond market are telling different stories about the economy: Bonds fear doom, while stocks see boom.

Why it matters: That's a bit confusing for investors and policymakers looking to these markets to make decisions — or for anyone trying to get a read on (waves hands) everything.

A new political thriller is mulling what would happen if the United States had a 17-year-old as president.

The big picture: The premise is meant to challenge young Americans to run for office, taking control away from aging politicians and giving it to those who will live with the government's decisions for decades to come.

President Trump's summit with Xi Jinping was staged as a reunion between old friends, concluding Friday with a private tour of Zhongnanhai, the Chinese Communist Party's secretive leadership compound.

• Strolling the gardens, Trump declared the blooms around him "the most beautiful roses anyone has ever seen." Xi promised to send him seeds.

Why it matters: The warm public choreography of the past two days has masked a stubborn reality: Nearly every force shaping U.S.-China relations is pulling them apart.