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Greetings! Elon Musk has left the building—the White House, that is. President Donald Trump gave Musk a farewell press conference today, complete with a golden key (literally), marking the end of Musk's formal time overseeing the Department of Government Efficiency. While both Trump and Musk said the Tesla CEO would visit Washington from time to time, Musk has made it clear his focus is now firmly back on his companies. As polarizing as Musk has become, thanks to his no-holds-barred political diatribes on X and elsewhere, it is worth acknowledging how remarkable a figure he remains in corporate America. Who else, responsible for four companies doing extraordinary things (Tesla, SpaceX, xAI and Neuralink) would take six months off to try to streamline the U.S. government? His willingness to do so, despite the reputational hit he and his businesses took, is a credit to him. Of course, there's self-interest involved—Musk's businesses almost certainly will enjoy a lighter amount of government scrutiny under this administration. And it has to be said that the bull-in-a-china-shop way he went about things in Washington likely hurt his standing more than necessary—and probably undermined DOGE's effectiveness. Back at his regular jobs, Musk has his work cut out for him, with Tesla's robotaxi effort in Austin, Texas, due to begin a couple of weeks, while SpaceX is dealing with a spate of troubled rocket launches. His newest and potentially most important company, xAI, faces a raft of powerful competitors in a field where the winners remain unresolved. Musk's backers are surely glad he's out of Washington and fully engaged with his companies again. Our most fascinating story this week was Aaron Tilley's deep dive into Apple's tussles with Elon Musk over the iPhone maker's satellite efforts. Check this story out and learn all about Apple's Project Eagle. Chime is one of the few tech firms planning an IPO this spring, after the roller-coaster stock market prompted others to suspend their plans. On Friday, Cory Weinberg revealed that Chime's bankers had discussed pricing its shares at $11 billion—that's well below the company's 2021 peak value of $25 billion but higher than expected a little while ago. Anita Ramaswamy, meanwhile, did an analysis earlier this week and concluded that Chime's correct value could be much lower. The dearth of IPOs is forcing investors in venture capital firms to find new ways of cashing out of their VC stakes in private tech companies—including by selling their positions in VC funds. On the AI front, Meta Platforms overhauled the group responsible for generative AI. We got names of the key leaders after the revamp. Meanwhile, we identified more than a dozen executives playing key roles across the AI e-commerce industry. Start your weekend off with our Big Read profiling how Nvidia CEO Jensen Huang has become the company's chief lobbyist, pitching Trump directly, as Huang tries to deal with the president's chip export controls. • A federal judge questioned whether he should impose restrictions on Google's actions in AI in order to address its illegal monopoly in search, as both the government and Google made their closing arguments in the remedies phase of the Google search monopoly trial on Friday, Bloomberg reported. The judge has said that he expects to issue a ruling by August. • Mary Meeker says artificial intelligence is growing faster than any technology that came before it. Ithas spread rapidly across the globe, and "AI leadership could beget geopolitical leadership." • Microsoft has hired a former Joe Biden administration official—and promoted a former Trump official—to serve in two senior legal roles as the company aims to maintain friendly relationships with both Democrats and Republicans in Washington (more here). Introducing: Applied AI. This new newsletter explores how businesses and leaders are using AI to innovate, improve efficiency, and foster collaboration. Stay ahead with insights and stories on the transformative power of AI. Sign up here. | 
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