By Danielle Chemtob,Forbes Staff,Mandel Ngan
Copyright forbes
President Donald Trump’s announcement of a $100,000 fee on H-1B visa applications made waves. But the controversial Trump Gold Card Visa also launched Friday—for 80% less than when it was first announced.
Trump said the visa would be available for $1 million for individuals, down from the previous price tag of $5 million, which one expert told Forbes amounts to an “admission of failure.”
The program promises “U.S. residency in record time,” but Congress would have to create new immigration and tax laws to implement the Trump Gold Card visas.
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Jimmy Kimmel
Randy Holmes/ABC via Getty Images
Following intense blowback, the Walt Disney Company said it would bring back Jimmy Kimmel Live! on Tuesday, a week after the late-night host was suspended for a monologue criticizing President Donald Trump and “the MAGA gang” in the wake of Charlie Kirk’s murder. High-profile figures, including hundreds of Hollywood stars, Disney’s former CEO and former President Barack Obama had criticized the move, though Sinclair Broadcast Group said Tuesday that it would continue to preempt the show as “discussions with ABC are ongoing.”
Despite a lack of definitive scientific evidence, the Trump Administration linked using Tylenol during pregnancy with an increased risk for children developing autism. “Fight like hell not to take it,” Trump said Monday about Tylenol usage while pregnant, while also suggesting that children should avoid the pain reliever. Shares of healthcare company Kenvue, whose subsidiary owns Tylenol, fell 7.5% Monday.
BUSINESS + FINANCE
SOPA Images/LightRocket via Getty Images
Nvidia shares surged Monday as the chip designer announced plans to invest up to $100 billion in OpenAI in a partnership to foster the development of AI data centers and superintelligence. OpenAI not only leads the valuation race among its AI competitors, it could also be the world’s most valuable private company after an upcoming $6 billion secondary share sale.
WEALTH + ENTREPRENEURSHIP
Jacob DeWitte, CEO of Oklo Inc., speaks as President Donald Trump signs executive orders in the Oval Office in May.
Photo by MANDEL NGAN/AFP via Getty Images
Santa Clara-based Oklo, a 12-year-old nuclear fission company, has seen its shares jump 47% over the last week and more than 400% over the past six months, thanks to excitement around the potential for nuclear energy to power the AI boom. The company’s runup makes husband-and-wife cofounders—CEO Jacob DeWitte and COO Caroline Cochran—new billionaires, with each founder now worth $1.7 billion, per Forbes estimates. Despite its soaring stock, Oklo has yet to generate revenue and is still losing money, roughly $25 million in the second quarter.
TECH + INNOVATION
Tiny London-based startup Nscale is one of the biggest winners from the $200 billion of deals unveiled as part of President Donald Trump’s state visit to the United Kingdom last week. The startup, which is one of many companies running the GPU-powered data centers underpinning the current AI boom, just landed a $500 million investment from Nvidia, as well as a deal with the chip giant and OpenAI to build one of its massive “Stargate” data centers in the U.K.
MONEY + POLITICS
President Donald Trump signed an executive order Monday designating antifa as a domestic terrorist organization, following up on a statement made after Charlie Kirk’s assassination. The order also calls for “investigatory and prosecutorial actions against those who fund” antifa operations, and characterizes the group as a “militarist, anarchist enterprise.”
TRENDS + EXPLAINERS
Controversy is swirling around news that the FBI dropped an investigation of Border Czar Tom Homan over bribery allegations. The Biden Administration’s FBI was reportedly looking into whether Homan was accepting bribes in exchange for a promise to “facilitate securing” government contracts after Trump won the 2024 election, though the White House and Homan have denied the allegations.
DAILY COVER STORY
Tesla’s Full-Self Driving Software Is A Mess. Should It Be Legal?
Illustration by Macy Sinreich for Forbes; Photos by Scott Olson/Getty Images; iStock/Getty Images Plus
Elon Musk relentlessly promotes Tesla as a major player in autonomous driving. But an assessment by Forbes of the latest version of its Full Self-Driving system found that it remains error-prone.
During a 90-minute test drive in Los Angeles, the 2024 Model Y with Tesla’s latest hardware and software ignored some standard traffic signs and posted speed limits; didn’t slow at a pedestrian crossing with a flashing sign and people present; made pointless lane changes and accelerated at odd times, such as while exiting a crowded freeway with a red light at the end of the ramp. There’s also no indication the company has fixed a worrisome glitch identified two years ago: stopping for a flashing school bus sign indicating that children may be about to cross a street.
There are so many easy-to-find problems with the $8,000 feature, recently redubbed “Full-Self Driving (Supervised),” it raises a question: Why is it even legal in its current form?
Turns out, there’s a simple answer: “Driving-assist systems are unregulated, so there are no concerns about legality,” said Missy Cummings, a George Mason University professor and AI expert who has advised the National Highway Traffic Safety Administration on autonomous vehicles.
U.S. regulators have yet to set clear rules for so-called Level 2 driver-assist technology—the category FSD falls into—beyond requiring in-cabin monitoring to ensure human drivers pay attention to road conditions. This loophole creates an opportunity for Musk to promote FSD, first rolled out in 2020, as a feature that provides virtually autonomous driving with “minimal” human intervention, according to the in-car display. And as a metric for his future compensation package, its broader adoption is massively lucrative for him.
WHY IT MATTERS “Elon Musk has staked Tesla’s future on AI and robots, especially self-driving vehicles,” says Forbes senior editor Alan Ohnsman. “They’re also critical to turning him into the world’s first trillionaire. Yet the company’s FSD system remains highly problematic and could face far more intense federal regulation, especially if safety issues persist.”
MORE Elon Musk’s Self-Driving Tesla Lies Are Finally Catching Up To Him
FACTS + COMMENTS
Under the leadership of the late Charlie Kirk, the nonprofit Turning Point USA received financial support from a number of billionaires and secretive donor-advised funds. But its biggest direct backer, Forbes uncovered, is a little-known Texas foundation:
$13.1 million: The amount given by The Wayne Duddlesten Foundation, the largest direct donor in IRS records
$389 million: How much Turning Point USA raised from its founding in 2012 through mid-2023
$10,000: The organization’s first-ever contribution, from the late fund manager Foster Friess
STRATEGY + SUCCESS
If you’re feeling stuck in the same position at work, jumpstart your professional growth by figuring out what success looks like in your current role. And don’t just wait for your annual review: Be proactive and seek feedback regularly from your manager. Create opportunities to build visibility within the company so you can demonstrate your capabilities to senior leaders.
The latest TikTok trend predicts a major event will occur today. What is it?
A. A religious rapture
B. A deadly natural disaster
C. A worldwide internet outage
D. A meteor strike
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