The United States delivered a 15-point peace plan to Iran, to which the Iranian military responded: Are you negotiating with yourselves? On the same day, AI was officially integrated into the U.S. war machine.
1｜The U.S. Delivers a Surrender List, Iran Says You’re Negotiating with Yourselves
Pakistan delivered the U.S.-drafted 15-point peace plan to Tehran. After the plan was disclosed by The Wall Street Journal, Brent crude oil briefly fell below $100, and Asian stock markets collectively rose. However, the optimism did not last a single trading day.
All 15 points target Iran’s core strategic assets. Dismantle three nuclear facilities, halt uranium enrichment, suspend missile programs, reduce support for regional allies, and fully open the Strait of Hormuz. In exchange, sanctions would be lifted and civilian nuclear energy assistance provided. This is not a negotiation offer; it is a list of surrender terms.
Iranian military spokesperson Zolfaghari mocked: You are negotiating with yourselves. The ambassador to Pakistan confirmed that there have been no negotiations to date. However, on the same day, Tehran announced it would allow “non-hostile” vessels to pass through the Strait of Hormuz, releasing a slight easing signal while rejecting negotiations. The IEA confirmed that the Hormuz crisis has caused a global production cut of approximately 8 million barrels per day. On the same day, Goldman Sachs raised the probability of a U.S. recession to 30% and forecast Brent crude to average $115 in April.
(Sources: Al Jazeera / Time / France 24 / WSJ / Goldman Sachs / IEA)
2｜Golden Dome $185 Billion, AI Welded into the War Machine
The morning report mentioned the Pentagon blacklisting Anthropic while granting Palantir a 28-fold budget increase on the same day. Evening signals pushed this narrative to a new stage. (Continuing from the morning report)
Anduril and Palantir are jointly developing the core software for the Golden Dome missile defense system. The project budget is $185 billion, with an additional $10 billion added last week. The software connects radar, satellite, and sensor networks to detect ballistic, cruise, and hypersonic missiles in real time while controlling interception weapons. SpaceX is responsible for space-based components, with Lockheed Martin, Raytheon, and Northrop Grumman already secured as contractors.
Palantir CTO Sankar said on Bloomberg TV that the Iran war will be remembered as the first large-scale conflict driven by AI. The Maven system completed target identification and plan generation for 2,000 strikes within 48 hours, integrating satellite, drone, radar, and signal intelligence to semi-autonomously generate legal justifications for each strike. AI is no longer just an auxiliary tool; it is the infrastructure itself.
(Sources: Reuters / WSJ / Bloomberg / Democracy Now / MIT Technology Review)
3｜China Pegged as the “Big Winner” in the AI Race
Last week, Jensen Huang called OpenClaw the “next ChatGPT” in a CNBC interview. Within hours of the news reaching Hong Kong, MiniMax and Zhipu AI saw stock price increases exceeding 20%.
Fortune provided structural numbers. By 2030, China will have approximately 400 gigawatts of idle power capacity, three times the global data center demand. Electricity prices in western provinces are as low as 5 cents per kilowatt-hour, compared to 40 cents in some U.S. regions. Power accounts for about 35% of inference costs, making China’s operational costs less than one-eighth of the U.S. for equivalent computing power. Jefferies strategists are reducing exposure to U.S. tech stocks, citing the power advantage as one reason.
(Sources: Fortune/ Bloomberg / CNBC / 36Kr)
4｜SpaceX May File IPO Application This Week, Valuation $1.75 Trillion
The Information reported that SpaceX could file its IPO prospectus with U.S. regulators as early as this week. If true, this would be the largest IPO in human history. The target fundraising exceeds $75 billion, more than double the $29.4 billion record set by Saudi Aramco in 2019. The listing valuation could exceed $1.75 trillion, with the public offering tentatively scheduled for June.
This is not just a rocket company going public. In February 2026, SpaceX acquired Musk’s AI company xAI in an all-stock deal, with a combined valuation of approximately $1.25 trillion. IPO investors will not only get Starlink and Falcon 9 but also the Grok large model and xAI’s computing clusters. Retail investors may receive over 20% of the share allocation.
In the same week as Arm’s in-house chip development and OpenAI’s preparations for a transformative listing, SpaceX chose this timing to file. Upstream players in the AI industry are rushing into the public market to lock in valuation windows before the Iran war and recession expectations worsen further.
(Sources: The Information / Bloomberg)
Also Worth Knowing ↓
JPMorgan Chase CEO Jamie Dimon said at the Hill & Valley Forum, “We have become Europe.” He criticized the inflexibility of the U.S. defense procurement and budget system, stating that congressional intervention and compliance procedures prevent the War Department from making flexible adjustments. At the same time, he expressed rare positivity toward the Iran war, believing that Gulf countries now realize “you can’t let your neighbor fire ballistic missiles at data centers,” which actually increases the chance of permanent peace. (Sources: Fortune / CNBC)
An Axios investigation found a trending “suspicious trading pattern” around Trump’s major decisions. Abnormal trading behavior appears hours before every major market shock. The $580 million futures trade mentioned in the morning report is just the latest example; while ordinary Americans suffer from soaring oil prices, a few seem to profit in broad daylight. (Source: Axios)
Stratechery’s Ben Thompson released an S-tier analysis, deeply dissecting the motivations and constraints behind Arm’s in-house chip development. This is the most authoritative supplement to the Arm news in the morning report. Thompson believes Arm’s choice stems from systemic evolution in computing architecture, not simple competitive strategy. (Source: Stratechery) (Continuing from the morning report)
Amazon acquired the startup Fauna Robotics, which makes child-sized humanoid robots, its second robotics acquisition this month. On the same day, Google announced a partnership with Agile Robots to expand its AI robotics layout, accelerating the arms race among tech giants in the field of embodied intelligence. (Sources: TechCrunch / CNBC)
A New Mexico jury delivered the first trial verdict in a child safety case against Meta; the amount is not the focus, the precedent effect is. This is the first time in U.S. history a jury has ruled against Meta in such a case, with multiple states across the country watching this precedent. (Source: TechCrunch)
Apple is testing a standalone Siri app and a new “Ask Siri” feature, planned for release with iOS 27 at WWDC on June 8. Siri will get a new interface similar to a chatbot, marking Apple’s biggest reboot attempt in its AI strategy. (Sources: 36Kr / Bloomberg)
Block CFO said mass layoffs due to AI are “inevitable” for companies. Following four billionaires speaking out on the same day in the morning report, another industry executive used the word “inevitability,” as the AI employment narrative shifts from prediction to consensus. (Source: WSJ)
