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Data Center Developer Switch in Talks to Raise Billions at $50 Billion-Plus Valuation -- S&P 500 Won’t Make Change That Would Have Fast-Tracked SpaceX -- U.S. Officials Said to Discuss Taking Stakes in AI Companies -- Bipartisan AI Regulatory Framework Released That Would Override Some State Rules  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ 

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Jun 05, 2026

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TGIF! S&P 500 decides against changes that would have fast-tracked SpaceX's inclusion in the index. Data center developer Switch is in talks to raise billions at a $50 billion-plus valuation. Satya Nadella rebukes Microsoft's plan to make users 'addicted' to AI agents.

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1.
Exclusive: Nadella Rebukes Microsoft Executive’s Plan to Make Users “Addicted” to AI Agents
By Aaron Holmes Source: The Information

Microsoft CEO Satya Nadella on Thursday rebuked an internal memo that another company executive had written advocating to “make people addicted” to its new AI agent product called Scout.

“This is absolutely a non goal! If anything we are doing the exact opposite. We want to make sure AI empowers and adds real value to human endeavor and broad economic growth! We should make our teams clear about this,” Nadella said in a message to roughly 50 of Microsoft’s top engineers working on AI products Thursday morning, according to a copy of the message reviewed by The Information.

In his message, Nadella attached a link to a report by 404 Media about the original memo, which had been sent by corporate vice president Omar Shahine to a small number of employees. In that memo, Shahine outlined a plan to develop Scout in “three phases from addictive app to agentic platform.”

Shahine has been leading a team of engineers developing Scout, which is based on the open source OpenClaw AI agent software and which Microsoft publicly announced at its Build conference Tuesday.

“Not sure what this document is or who is writing and leaking this nonsense! They may want to go work elsewhere,” Nadella said in Thursday’s staff message.

The episode shows the importance of Scout’s rollout to Microsoft, and Nadella’s sensitivities around the public perception of such AI products. Microsoft is in the midst of overhauling its Copilot AI tools to include new features like Scout, which are a cornerstone of its push to convince more businesses to spend heavily on the software.

Microsoft spokesperson Frank Shaw said in a statement that Scout is for “helping people accomplish tasks more effectively—not encouraging dependency. Our goal isn’t more screen time. It’s more time back.”

“As we shared in our announcement, we’re taking a thoughtful approach to the rollout—learning with and from customers as the technology evolves, and ensuring people have clear choice and control in how they engage,” Shaw said.

2.
Data Center Developer Switch in Talks to Raise Billions at $50 Billion-Plus Valuation
By Anissa Gardizy and Valida Pau Source: The Information

Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, a level that would make it one of the most valuable privately held data center operators, The Information reported late Thursday.

Brookfield Asset Management, KKR and other private equity and institutional investors have been in talks to invest in the round, though conversations are early. The fundraising could set Switch up for a possible initial public offering that could come as early as next year.

 
3.
S&P 500 Won’t Make Change That Would Have Fast-Tracked SpaceX
By Theo Wayt Source: The Information

S&P Dow Jones Indices said Thursday it had decided not to change its rules to make it easier and faster for SpaceX to quickly join the S&P 500 and other indices after it goes public.

The group’s index committee had been considering a series of changes that would have let so-called megacap companies join the S&P 500 after six months of being public, compared to 12 months currently, and end a requirement that companies are profitable. The changes would almost certainly have helped SpaceX, as well as other highly-valued IPO candidates Anthropic and OpenAI, by forcing passive funds tied to the S&P 500 to buy SpaceX shares. Nasdaq has already eased its rules this year to allow companies to enter the Nasdaq 100 index after just 15 trading days.

S&P Dow Jones Indices said its committee had decided against changing the rules following a “review of the markets and after consideration of responses received from a wide range of market participants.” Not making the proposed change “preserves core index principles by maintaining consistent application of these key requirements,” the group said.

4.
U.S. Officials Said to Discuss Taking Stakes in AI Companies
By Jason Dean Source: Notus

Senior U.S. officials have held preliminary discussions with major artificial intelligence companies about the federal government possibly acquiring shares in their firms, the publication Notus reported, citing people familiar with the matter.

The preliminary discussions have centered on having firms voluntarily provide the shares, said the Notus article, which said OpenAI CEO Sam Altman has periodically discussed the idea with senior Trump administration officials and that Anthropic isn’t discussing providing equity to the government. The article didn’t specify which other companies might be involved in such discussions. It said planning is ongoing and details are in flux.

Any such deals would be sure to stir controversy, though political figures on both the right and the left have made similar proposals.

OpenAI floated the idea in an April research paper of a public fund that could distribute benefits from AI’s economic gains directly to citizens. The paper said policymakers and AI companies should work together to determine how to best seed such a fund.

Under the Trump administration, the federal government already has acquired stakes in several companies including chipmaker Intel.

5.
Bipartisan AI Regulatory Framework Released That Would Override Some State Rules
By Leo Schwartz Source: The Information

Two members of Congress released a sweeping discussion draft for an AI regulatory framework on Thursday, proposing a bipartisan federal approach ahead of November’s midterm elections. Led by Reps. Jay Obernolte (R-Calif.) and Lori Trahan (D-Mass.), the bill represents the latest Congressional attempt to find consensus on thorny issues such as preemption of state rules.

The 269-page draft includes controversial language that would override state regulation on AI development, though not deployment, for a period of three years. Similar to a recent bill passed by the Illinois legislature, the draft also calls for third-party auditors to assess whether AI companies are complying with plans for catastrophic risks posed by their models.

In an