Good morning. On Fortune’s radar today:
Exclusive: The inside story of how Demis Hassabis lost the CEO role at DeepMind. OpenAI’s revenues are plateauing. Profits are not showing up at AI labs. Iran and the U.S. wait each other out over the Strait of Hormuz. U.S. unemployment would be 5% if people weren’t giving up on work. The Fed’s Warsh won a round vs. his critics. President Trump’s love of grass.➡️ Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here.
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