There’s nothing earth shattering in the debt limit deal reached by President Joe Biden and Speaker Kevin McCarthy, except for the fact that they reached a deal at all. Still, that’s worthy of note. I’ve more than once referred to America’s broken politics in this column. President Biden and Speaker McCarthy are trying to find a better path forward…and avoid a self-inflicted economic wound in the process. Members from the extreme wings of both parties will oppose the measure. But a coalition of the center is more likely to reach an outcome most Americans favor. Not surprisingly, business groups—who these days increasingly represent the center of American politics—support the deal.
Separately, Nvidia CEO Jensen Huang, whose company is on the cusp of joining the Trillion Dollar Club (which now includes Apple, Amazon, Alphabet, Microsoft and Saudi Aramco) told graduates at National Taiwan University this weekend to “run, don’t walk” to embrace the A.I. era. “In every way, this is the rebirth of the computer industry,” he said. Graduates should “take advantage of A.I. and do amazing things with an A.I. copilot by your side.” (But check your work, as this extraordinary story in the New York Times cautions.)
Meanwhile, Wharton super-professor Jeremy Siegel says A.I. mania, as demonstrated by Nvidia’s surge last week, is “not a bubble yet.” The age of A.I. is just getting started.
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
