Kashkari said Fed swap lines are part of monetary policy implementation.

The New York Times reports Meta has used U.S. research tax-credit rules to seek billions in tax relief for its AI data centers, describing data-center projects worth billions as "experimental R&D" and treating AI compute chips purchased from suppliers including NVIDIA as eligible R&D inputs. Documents show the credit cut Meta’s tax bill by nearly $4bn last year, making it one of the largest public-company beneficiaries. Internal accountants have warned of legal risk and the IRS could challenge the claims. Tax adviser Andre Shevchuck of BPM said classifying AI data centers as "experimental R&D" is "beyond routine." The IRS has previously reviewed firms that treated ordinary commercial spending as R&D for credit purposes.

OpenAI Codex product lead Tibo said GPT-6.1 Sol is likely the highest-demand model to date across both API and subscription users. ChatGPT and Codex had been experiencing heavy load, but OpenAI has deployed additional compute capacity; runtime performance should improve significantly over the next few hours and is expected to reach roughly twice yesterday's service speed.