AI boom: Microsoft and Alphabet post record cloud profits after new U.S. chip tariffs. Congress revives NO FAKES Act and launches antitrust probe into Big Tech‑AI deals. Senators float $1.8 B fund and sweeping rules to fast‑track federal AI safety R&D. Apple, Google, and Microsoft unveil joint research hub for next‑gen AI tools. Russia unleashes war’s largest drone strike as Ukraine cease‑fire talks stall. Prisoner swap agreed, but no Black Sea cease‑fire yet, analysts warn. EU leaders debate rolling out their own Ukraine cease‑fire framework. 2026 midterms: razor‑thin GOP edge puts every House seat back in play. Special elections add intrigue to a volatile 119th Congress.