Business & Media Markets

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> US stock markets close higher (S&P 500 +1.8%, Dow +1.9%, Nasdaq +2.5%) after President Donald Trump calls off Iran strikes

> US wholesale prices rise 1.1% in May, putting annual rate at 6.5%, the highest since November 2022 (More) | European Central Bank raises interest rates for first time since 2023 amid Iran war, becomes first major central bank to do so (More)

> Waymo launches premier subscription tier for $29.99 a month in San Francisco, Los Angeles, and Phoenix; perks include priority rides and 10% back in loyalty credits per trip (More)

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🔭 Winning the future

Illustration: Sarah Grillo/Axios

The Wall Street Journal named a "Best Companies For the Future" list, based on factors that include AI readiness, talent, innovation, financial strength and resilience. The top 10: Nvidia. Alphabet. Microsoft. Meta. Cisco Systems. Salesforce. Mastercard. Amazon. Adobe. Intuit. Browse the full list ... How the companies were picked (gift link).

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🚀 Extraterrestrial data centers

Illustration: Brendan Lynch/Axios

With data center protests gaining momentum on Earth, Elon Musk, Jeff Bezos and others have been eyeing outer space — with its ready supply of unimpeded solar energy — as the next frontier, Axios' Ina Fried reports. Tech giants like SpaceX and Google as well as some startups are already working on launching data centers into space. How it works: In a report this week, real estate research firm JLL says it sees space as particularly suited to energy-intensive, but less urgent tasks. Data centers on the ground could handle real-time computing work while those in space tackle training AI models. Keep reading.