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Here’s what you need to know
A star is torn. Warner Bros. Discovery is splitting itself into two public companies (one streaming/studios, one everything else) to sharpen focus and unlock shareholder value.
China rocks the supply chain. Car companies are in “full panic” mode as China blocks rare-earth exports — but there are signs the country is easing up on restrictions.
Cleared for re-entry. Boeing just delivered a plane to China for the first time since April, after the country’s government told airlines not to accept orders from the American company.
Bit by bit by bit. Amazon is continuing to spend big on its AI investments; it just announced plans to spend $20 billion in Pennsylvania to build two data centers.
OpenAI sees prompt payback. While the company doesn’t plan to be profitable for years, it’s getting closer — making $10 billion in annual recurring revenue as ChatGPT grows.
Scrambling to contain an outbreak. Almost two million brown eggs from the August Egg Company have been recalled after a salmonella outbreak sent dozens to the hospital.
Inflated CEO expectations
CEO confidence is creeping back — slowly.
According to the June CEO Confidence Index from Chief Executive Group, sentiment among U.S. corporate leaders ticked up to 5.3 out of 10. That’s a modest increase from May (5) and April (4.5) — but confidence remains well below January’s 6.3, mostly before President Donald Trump took office.
So what’s giving them hope? Consumer demand is holding steady, inflation is predictable (read: predictably rising), and fewer execs expect a recession in the next year — just 28%, down from 62% in April. But that optimism comes with an asterisk and depends on whether the Trump administration can stay even remotely stable.
The OECD, meanwhile, has warned that the U.S. will be the biggest loser in the trade war it started — something CEOs seem to suspect, too. Nearly 70% expect their costs to rise this year. Still, many say they’re feeling better… as long as the next three weeks don’t include another round of social media posts egging the trade war back on. Quartz’s Michael Barclay has more on the case for cautious optimism.
Steering into the future
Tesla’s robotaxi is finally here. Sort of. Kind of. Maybe?
After nearly a decade of overpromising and underdelivering, Elon Musk is set to debut Tesla’s long-teased robotaxi pilot in Austin, Texas, on June 12. But if you were expecting a futuristic fleet zipping around town with zero human input… plot twist! The launch will likely feature a fleet of around 10 Tesla Model Ys running “full self-driving” mode (which still isn’t full, or self, or technically driving).
This isn’t autonomy — it’s optics.
The timing is strategic. Tesla’s growth is slowing, its margins are shrinking, and Musk has been busy beefing with everyone from presidents to rivals. A robotaxi rollout, even one with training wheels, gives the company a shot of adrenaline — and gives investors a reason to keep seeing Tesla as an AI company, not just a car company with a tech habit.
But the real comparison point isn’t science fiction. It’s Waymo. Google’s autonomous spinout is already running fully driverless rides across the U.S. — with no humans in the driver’s seat and far fewer federal investigations. Still, Tesla’s betting that its scale means its AI can outpace the rest of the pack.
So yes, the robotaxis are coming. Just don’t mistake this soft-launch stunt for a revolution. At best, it’s a carefully geofenced trial. At worst, it’s a billion-dollar beta test designed to keep the stock inflated and the narrative alive. Quartz’s Shannon Carroll has more on what’s really behind the wheel of Musk’s trillion-dollar promise.
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