OpenAI floated giving the US government a 5% stake to court the Trump administration. Nvidia promised to backstop cloud providers for a revenue cut, SpaceX showed investors an xAI phone prototype, Apple ramped foldable iPhone orders, and Z.ai launched ZCode.

• Sources: OpenAI has discussed giving a 5% stake to the US government, seeking to clear political obstacles by securing buy-in from the Trump administration (FT)
• Nvidia promises to financially backstop young cloud providers like Firmus that rent out its AI chips, in exchange for a revenue share through a new program (The Information)
• Sources: SpaceX showed investors a handset-like device prototype with AI tech from xAI, a proprietary OS, a Snapdragon chip, and a design slimmer than an iPhone (WSJ)
• Sources: Apple has told suppliers to prepare to produce ~10M foldable iPhones in 2026, up from 7M to 8M previously, and 80M iPhones in total across new models (Nikkei Asia)
• Apple reportedly orders 10M foldable iPhone Ultra models, which could sell for around $2500 (9to5Mac)
• Sources: Apple is in negotiations to buy chips from CXMT and YMTC, two Chinese semiconductor makers on a Pentagon blacklist, for use in devices sold in China (Bloomberg)
• Z.ai launches ZCode, an "Agentic Development Environment" optimized for its new GLM-5.2 model; Z.ai's GLM Coding Plan costs from $16.20 to $144 per month (VentureBeat)

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