JAPAN DOWNGRADES TSUNAMI WARNINGS TO ADVISORIES: NHK

- Investors are back on defense after President Donald Trump said yesterday that the U.S. struck and seized an Iranian-flagged cargo ship in the Gulf of Oman. - Kevin Warsh, Trump’s pick to be the next chair of the Federal Reserve, will head to Capitol Hill tomorrow for his Senate confirmation hearing, where he will likely face questions about his ties to Silicon Valley. - Buzzy AI startup Cursor is in discussions for a $2 billion fundraising round, a source familiar with the matter said yesterday. The company would be valued at more than $50 million, excluding the investment. - Gaming was once Nvidia’s bread and butter, but games no longer feel prioritized as Nvidia focuses on its more profitable data center chips rather than its lower-margin gaming products. Its data center business now accounts for more than 90% of Nvidia’s revenue.

Sources familiar said ByteDance’s overseas revenue grew nearly 50% in 2025, far outpacing about 20% domestic growth. Overseas revenue share rose from 25% in 2024 to over 30%, a record high. TikTok e-commerce was the main driver, with TikTok Shop GMV up nearly 70% year-on-year. The strong growth also helped TikTok achieve significant profitability in 2025.