Today in Tech — May 29, 2026: NVIDIA's $81B Quarter, EU vs Google, AI Safety Laws, Quantum & More

Friday, May 29, 2026. The AI arms race is no longer a software story — it has spilled into chips, data centers, regulation, defence, and quantum computing all at once. Here are the biggest technology stories you need to know today, curated by Roseson® Studios.

1. NVIDIA Posts $81.6B Revenue — Up 85% Year-on-Year

NVIDIA reported Q1 FY2027 revenue of $81.6 billion, surging 85% year-on-year and beating analyst consensus significantly. Q2 guidance was set at $91 billion — another record. The company's startup equity portfolio nearly doubled this quarter to $43 billion, with non-marketable stakes jumping $18.5 billion in just 90 days. CEO Jensen Huang also announced the Vera CPU line, which he claims unlocks a $200 billion agentic AI market, with $20 billion already sold in 2026. First units were hand-delivered to Anthropic, OpenAI, SpaceX AI, and Oracle. Full-year 2026 revenue for NVIDIA is now expected to top $358 billion — up from $215.9 billion in 2025 and just $26.9 billion in 2022.

2. EU Prepares Largest-Ever Digital Markets Act Fine Against Google

European regulators are finalising what could be the biggest Digital Markets Act penalty in history against Google, with a high-triple-digit-million-euro fine expected before the summer break. The case centres on search self-preferencing — where Google allegedly promotes its own services over competitors in search results, violating the EU's platform competition rules. Europe is fast becoming the world's most aggressive testing ground for Big Tech regulation, and a landmark DMA fine against Google would send a clear signal to all platform gatekeepers — with knock-on implications for how AI discovery tools, app stores, and marketplaces display results globally.

3. Illinois Passes Major AI Safety Bill — Frontier Labs Must Submit to Audits

Illinois lawmakers passed SB 315 this week, a landmark AI safety bill requiring frontier AI companies — including OpenAI, Anthropic, and Google DeepMind — to have their safety practices independently audited. The bill makes Illinois one of the first US states to create a binding framework around frontier model governance, going beyond existing voluntary commitments. The move comes as Washington continues to delay a federal AI executive order — reportedly after last-minute pressure from Elon Musk and Mark Zuckerberg, who pushed back against requirements for companies to share advanced models with the government before release.

4. Sam Altman Walks Back 'Jobs Apocalypse' Forecast

OpenAI CEO Sam Altman told an audience in Sydney this week that the rapid rollout of AI will not produce the widespread white-collar job losses he once predicted. Altman admitted he had been wrong about the near-term social and economic impact of the technology, noting that human interaction remains essential in many professional roles and that it limits full AI replacement. His recalibration reflects growing real-world data on AI adoption, where augmentation rather than outright substitution has been the dominant pattern — at least so far. The shift could influence hiring strategies at startups and Big Tech alike as companies weigh AI-driven productivity gains against the need for human oversight and creativity.

5. WEF Report: AI Is Now the Biggest Cybersecurity Threat on Earth

A new World Economic Forum report released this week concludes that artificial intelligence has overtaken every other force shaping the global cybersecurity landscape in 2026. According to the report, 94% of organisations surveyed believe AI is the top driver of cyber risk this year, while 87% say vulnerabilities in AI systems themselves are among the fastest-growing threats in tech. Security leaders are increasingly concerned that AI lowers the barrier for cybercrime — making fraud campaigns, phishing, malware generation, and social engineering attacks more automated and scalable than ever. The report also highlights growing concern around synthetic identity fraud and deepfake-based attacks targeting financial institutions and enterprises.

6. IBM Commits $5 Billion to Open-Source Security as AI Supply Chains Under Threat

IBM this week announced a $5 billion commitment to securing open-source software infrastructure — a direct response to rising pressure on software supply chains from AI-generated code, automated attacks, and the growing dependence of businesses and governments on open-source components. The investment signals that open-source security is now considered critical infrastructure for the AI economy, not just a developer concern. For startups, the signal is clear: the next wave of software security may centre not on detecting individual vulnerabilities but on hardening the foundations that thousands of companies build on.

7. Mistral Opens 10MW AI Data Centre in France — Europe's AI Sovereignty Push Accelerates

French AI company Mistral announced plans for a new 10-megawatt data centre in Les Ulis, France, due to open in the second half of 2026. The project is part of a broader €4 billion investment strategy and Europe's push to reduce dependence on US AI giants. Mistral CEO Arthur Mensch also made headlines defending the use of AI in defence, arguing that Europe must develop its own capabilities because adversaries are already deploying the technology. The comments came after Pope Leo XIV called for international AI regulation — making AI one of the first tech issues to draw a papal statement.

8. Terra Quantum Goes Public at $3.5B — Quantum Security Hits Wall Street

Swiss quantum security company Terra Quantum AG reached a definitive business combination agreement with Axiom Intelligence Acquisition Corp at a $3.5 billion equity valuation this week. The deal positions Terra Quantum — focused on quantum security and AI-driven applications — as one of the first major quantum pure-plays to hit public markets. The listing comes as governments worldwide accelerate post-quantum cryptography mandates, making quantum-safe security one of the fastest-growing infrastructure needs of the decade.

9. SpaceX IPO Filing Reveals $18.7B Revenue, AI Ambitions & $60B Cursor Option

SpaceX's S-1 filing to the SEC, submitted earlier this week, sets the stage for what could be the largest IPO in history under the ticker 'SPCX.' The company reported 2025 revenue of $18.7 billion — up 33% year-on-year — driven primarily by Starlink's $1.2 billion quarterly profit. The filing revealed striking AI ambitions: SpaceX holds a $60 billion option to acquire coding startup Cursor and pays $1.25 billion monthly to Anthropic for cloud compute. Elon Musk will retain 85% voting control through Class B shares, with a proposed compensation package including one billion performance-based shares tied to achieving a permanent human colony on Mars.

10. Nebius Secures 1.2GW of Power for New AI Factory in Pennsylvania

AI cloud company Nebius Group (NASDAQ: NBIS) announced it has secured up to 1.2 gigawatts of power and land for a new, owned AI factory at a site in Pennsylvania — one of the largest power commitments for an AI data centre announced by a non-hyperscaler. The announcement underlines the staggering energy demands of the AI infrastructure boom. NVIDIA CEO Jensen Huang has estimated that between $3 trillion and $4 trillion will be spent on AI infrastructure by the end of the decade, with much of that money coming from AI companies themselves and placing enormous strain on power grids and construction capacity.

The message from May 29, 2026 is clear: AI is no longer a technology trend — it is the defining infrastructure, regulatory, and economic force of our time. From NVIDIA's record-shattering revenues to quantum firms going public and the Pope calling for global AI regulation, every sector is now inside the AI story. Stay tuned to Roseson® Studios for daily tech news, design inspiration, and creative culture.