Good morning. On Fortune’s radar today:
- Oh, Canada: trade talks collapse, 90,000 jobs at risk.
- Scott Bessent declines to say the words “China” or “Russia.”
- Markets: Hello, Bitcoin!
- Nvidia stock can’t get no respect.
- The vertical inflection point of AI compute.
- OnlyFans reports its most recent fiscal year.
- Jeff Bezos wants to be a member of the Indian Creek Country Club—but they won’t let him in.