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This week’s developments across the tech sector underscored the deepening connection between advanced computing, capital flows and geopolitical dynamics.

Applied Digital (NASDAQ:APLD) secured a landmark agreement with CoreWeave (NASDAQ:CRWV), while Broadcom’s (NASDAQ:AVGO) newest high-performance chip hit the market. Meanwhile, Canada’s Cohere is reportedly seeking fresh funding as it builds momentum in the enterprise artificial intelligence (AI) space.

In the defense sector, Anduril Industries secured a new round of funding, and elsewhere geopolitical tensions made their mark on Apple’s (NASDAQ:APPL) AI rollout in China.

Read on to dive deeper into this week’s top tech stories.

1. Applied Digital and CoreWeave strike major deal

Applied Digital was the top performer on the S&P 500 (INDEXSP:.INX) on Monday (June 2) after the company announced two long-term lease agreements with cloud infrastructure company CoreWeave.

Under the terms of the agreements, Applied Digital will deliver 250 megawatts of IT load to host CoreWeave’s AI and high-performance computing infrastructure at its Ellendale, North Dakota, data center campus. The arrangements are expected to generate approximately US$7 billion in total revenue for Applied Digital.

News of the deal sent shares of Applied Digital up by over 22 percent to close at US$10.14 on Monday afternoon. CoreWeave’s share price saw an increase of 3.35 percent, closing at US$118.24.

The companies finished the week up 67 percent and 20 percent, respectively.

2. Broadcom shares slip post-earnings

Broadcom shares rose 3.2 percent on Tuesday (June 5), hitting a record high of US$264.89 after the company announced that it began shipping its latest networking chip, the Tomahawk 6.

However, enthusiasm faded after Broadcom reported its earnings after the markets closed.

Despite beating estimates on both earnings and revenue, the chip supplier’s forecast for the third quarter wasn’t enough to impress investors, who sent its share price down in after-hours trading.

The company is calling for Q3 revenue of US$15.8 billion, below analysts’ forecasts of US$15.71 billion.

“High expectations drove a bit of downside,” Bernstein analyst Stacy Rasgon said in a note.

Despite this, Broadcom ended the week priced at US$246.93, 1.5 percent above Monday’s opening price.

3. Cohere targets new funding round

Canadian AI company Cohere is seeking US$500 million in new funding, targeting a valuation of US$5.5 billion to US$6.5 billion, according to a Financial Times report released on Sunday (June 3).

The outlet cites three sources with inside knowledge of ongoing discussions that are still in early stages.

The company was founded by former Google (NASDAQ:GOOGL) researchers; it prioritizes enterprise users and specializes in privacy solutions. Cohere has not released any consumer apps, but has debuted a family of open-source models: Aya, as well as North, a platform available to limited users that allows businesses to develop customized AI agents. According to the sources, Cohere doubled its annual recurring revenue to more than US$100 million in May.

Apple, Broadcom, Applied Digital and CoreWeave performance, June 2 to 6, 2025.

Apple, Broadcom, Applied Digital and CoreWeave performance, June 2 to 6, 2025.

Chart via Google Finance.

4. Delays and court rulings challenge Apple’s strategies

The Financial Times reported on Monday that Apple’s rollout of AI services in China is being delayed by Beijing regulators due to the ongoing trade war between China and US President Donald Trump’s administration.

In February, Apple made a deal with Alibaba (NYSE:BABA) to power Apple Intelligence using Alibaba’s proprietary Qwen large-language models. However, the rollout has been stalled, potentially due to ongoing geopolitical tensions, although Chinese regulators have not confirmed any particular reasons for the delay.

In other news, a federal appeals court denied Apple’s request for a stay of a court order that forbids the company from collecting commission on external payment links, a result of its legal battle with Epic Games.

Apple “bears the burden of showing that the circumstances justify an exercise of (our) discretion,” according to the order. “After reviewing the relevant factors, we are not persuaded that a stay is appropriate.”

The rejection by the appellate court forces Apple to adhere to the original ruling, which aims to increase competition and offer users diverse payment choices. The decision’s consequences are substantial, potentially impacting Apple’s existing revenue structure. Additionally, it could reshape the overall landscape of the mobile app market.

5. Anduril valuation soars after latest funding round

Defense startup Anduril Industries, known for supplying weapons to the US government, has secured US$2.5 billion in a new funding round led by Founders Fund, Peter Thiel’s venture capital firm. The firm contributed US$1 billion, according to Anduril Executive Chairman Trae Stephens, who spoke to Bloomberg Television on Thursday (June 5).

The newest round has more than doubled the company’s valuation, bringing it to US$30.5 billion.

Anduril has become a key player in modern defense tech with its autonomous drones, surveillance towers and AI-driven systems, part of a broader shift toward software-defined warfare.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Iran’s refusal to play ball with the United Nation’s nuclear watchdog, which is charged with monitoring all nations’ nuclear programs, has meant the body cannot verify whether Tehran’s program is ‘entirely peaceful’ despite the regime’s claims.

Director General of the International Atomic Energy Agency (IAEA), Rafael Grossi, on Monday issued a warning statement that the agency has not only long been barred access to old and new nuclear sites, but that Iran has scrubbed locations in an apparent move to cover up its activities.

In 2020, the IAEA found man-made particles of enriched uranium at three sites, including Varamin, Marivan and Turquzabad. The locations were previously utilized in Iran’s nuclear program and gave the agency credence to believe Tehran had once again turned to deadly nuclear ambitions. 

‘Since then, we have been seeking explanations and clarifications from Iran for the presence of these uranium particles, including through a number of high-level meetings and consultations in which I have been personally involved,’ Grossi said. ‘Unfortunately, Iran has repeatedly either not answered, or not provided technically credible answers to, the Agency’s questions. 

‘It has also sought to sanitize the locations, which has impeded Agency verification activities,’ he added. 

Grossi, who confirmed during an April trip to Washington, D.C. that the IAEA has not been involved in nuclear negotiations between the U.S. and Iran, said on Monday that he has been working ‘closely and intensively’ with both parties in ‘support of their bilateral negotiation[s].’

The warning comes after the IAEA in a report late last month, also confirmed that Iran had drastically increased its stockpile of near-weapons-grade enriched uranium by nearly 35% in three months. 

In February, the IAEA assessed that Tehran possessed 274.8 kilograms (605.8 pounds) worth of uranium enriched to 60%, but on May 17th it found Iran now has some 408.6 kilograms (900.8 pounds) – meaning the regime is just a technical step away from being able to make up to 10 nuclear warheads. 

Last week, Iranian supreme leader Ayatollah Ali Khamenei came out in strong opposition to a U.S. proposal submitted to Tehran to end its nuclear program, though it remains unclear what details were included in the document, including on enrichment capabilities, and on Sunday, Iranian parliamentary speaker Mohammad Bagher Ghalibaf claimed the proposal didn’t include any sanction relief.

The White House has remained tight-lipped about what was included in the document, though according to some reporting, President Donald Trump gave Iran until June 11 to reach a deal with the U.S., though Fox News Digital could not independently verify these claims. 

On Monday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed that ‘The U.S. proposal is not acceptable to us. It was not the result of previous rounds of negotiations.’

‘We will present our own proposal to the other side via Oman after it is finalized. This proposal is reasonable, logical, and balanced,’ Baghaei reportedly said.

Some reporting has also suggested Iran might submit their proposal as soon as June 10, though the Iranian UN mission in the U.S. would not comment on or confirm these claims. 

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Blue Lagoon Resources Inc. (CSE: BLLG) (OTCQB: BLAGF) (FSE: 7BL) (the ‘Company’) is pleased to announce that President & CEO Rana Vig will be attending and presenting at the upcoming 121 Mining Investment Conference in New York, June 9-10, 2025.

As Blue Lagoon advances toward production at its fully permitted high-grade Dome Mountain Gold Projectfeaturing an average grade of 9 grams per tonne (g/t) gold and one of only nine mining permits granted in British Columbia since 2015-the Company continues to engage with institutional and retail investors globally. Mr. Vig will meet with leading resource investors to discuss the Company’s near-term production plans, expected cash flow growth, and the significant exploration upside across Dome Mountain’s highly prospective 22,000-hectare land package.

‘With gold prices on the rise and our project fully funded for production starting this summer, now is the right moment to elevate Dome Mountain’s profile with a broader investor base,’ said Rana Vig, President & CEO of Blue Lagoon Resources. ‘As one of the few junior companies nearing high-grade gold production, we’re uniquely positioned to deliver near-term cash flow alongside substantial exploration upside.’

Participation in the 121 New York event aligns with Blue Lagoon’s strategy to build shareholder value by actively marketing its project to global capital markets ahead of its transition to production. The conference will host a select group of mining companies and qualified investors for a series of scheduled, in-person meetings focused on project fundamentals, market strategy, and growth outlook.

About Blue Lagoon Resources Inc.

Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 – one of only nine such permits issued in British Columbia since 2015 – Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production. The Company’s primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.

The Company is not basing its production decision at Dome Mountain on a feasibility study of mineral reserves demonstrating economic and technical viability. The production decision is based on having existing mining infrastructure, past bulk sampling and processing activity, and the established mineral resource. The Company understands that there is increased uncertainty, and consequently a higher risk of failure, when production is undertaken in advance of a feasibility study.

For further information, please contact:

Rana Vig
President and CEO
Telephone: 604-218-4766
Email: ranavig@bluelagoonresources.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the ‘Company’) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘targets’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’, ‘mine’, ‘production’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s, contractor’s and consultants’ beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254700

News Provided by Newsfile via QuoteMedia

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Here’s a quick recap of the crypto landscape for Friday (June 6) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$104,245 as markets closed for the week, up 2 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$104,006 and a high of US$105,201.

Bitcoin price performance, June 6, 2025.

Bitcoin price performance, June 6, 2025.

Chart via TradingView.

After dipping below US$101,000 during the dispute between US President Donald Trump and Elon Musk, Bitcoin recovered to around US$105,000 early in the trading day, influenced by a strong US labor report.

Despite the rebound, analysts are wary due to technical indicators like a weakening relative strength index, suggesting potential downside. A possible rate cut from the US Federal Reserve on June 18 could push Bitcoin to US$112,000, but the outlook is uncertain. Order book data indicates a liquidity trap, and limited short interest points to a fragile recovery.

Additional selling pressure and investor distrust are contributing to shaky market sentiment.

Ethereum (ETH) finished the trading day at US$2,490.63, a 2 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$2,482.52 and saw a daily high of US$2,519.25.

Altcoin price update

  • Solana (SOL) closed at US$149.26, trading flat over 24 hours. SOL experienced a low of US$148.86 and reached a high of US$151.79 on Friday.
  • XRP is trading at US$2.17, reflecting a 1.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.16 and a high of US$2.18.
  • Sui (SUI) peaked at US$3.18, showing an increaseof 5.7 percent over the past 24 hours. Its lowest valuation on Friday was US$3.16, and its highest was US$3.19.
  • Cardano (ADA) is trading at US$0.663, up 2.8 percent over the past 24 hours. Its lowest price of the day was US$0.6604, and it reached a high of US$0.6693.

Today’s crypto news to know

Uber considers stablecoins for cost reduction

On stage at the San Francisco-based Bloomberg Tech Summit on Thursday (June 5), Uber Technologies (NYSE:UBER) CEO Dara Khosrowshahi said the company is “definitely going to take a look” at using stablecoins to help reduce the cost of moving money around the world.

“We’re still in the study phase, I’d say, but stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,” he said. “Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and you know, people have different opinions on where it’s going,” he added.

UK set to lift ban on retail access to crypto ETNs

The UK’s Financial Conduct Authority (FCA) has announced plans to lift its ban on retail investors buying crypto exchange-traded notes (ETNs), a major shift from its earlier risk-averse stance.

Initially barred due to concerns over volatility and investor protection, the FCA now says consumers should have the right to choose whether these high-risk assets fit their portfolios. David Geale, the FCA’s digital assets chief, said the move is part of a broader push to ‘rebalance’ the regulator’s approach to financial risk. The proposal, which would allow ETNs to be sold on FCA-registered investment exchanges, will now enter a public consultation phase.

This regulatory pivot follows the UK’s introduction of draft laws in April aimed at integrating crypto into the formal financial system. The FCA emphasized that its separate ban on crypto derivatives for retail traders will remain in place.

Switzerland adopts crypto information exchange bill

The government of Switzerland has adopted a bill to enable the automatic exchange of information (AEOI) on crypto with 74 partner countries, including the UK, all EU member states and most G20 countries.

The measure excludes the US, Saudi Arabia and China. The bill is currently under discussion in parliament and, if approved, the AEOI framework for crypto assets will take effect on Jan. 1, 2026.

Switzerland will only engage in AEOI with partner states that also desire information exchange with Switzerland.

Strategy to raise nearly US$1 billion to buy more Bitcoin

Strategy (NASDAQ:MSTR), the company known for its aggressive Bitcoin acquisition strategy, is launching a nearly US$1 billion capital raise through its new 10 percent Series A STRD preferred stock. The offering includes over 11 million shares and promises a high fixed yield, making it attractive to yield-hungry investors in a low-rate environment.

Unlike other Strategy offerings like STRK (convertible) and STRF (senior status), STRD offers the highest payout at 10 percent, but comes with more risk due to its non-cumulative dividend and junior status. Dividends are only issued when declared, and the shares cannot be called under normal market conditions.

Proceeds will go toward “general corporate purposes,” which notably include expanding its Bitcoin holdings.

Metaplanet plans US$5.3 billion warrant offering to scale Bitcoin treasury

Tokyo-based Metaplanet (OTCQX:MTPLF,TSE:3350) is taking its Bitcoin commitment to the next level with a massive US$5.3 billion stock warrant issuance, the largest of its kind in Japan.

The company is offering 555 million shares through stock acquisition rights, using a novel moving-strike pricing model that adjusts with market value — a first in the Japanese market.

This 555 Million Plan follows an earlier US$600 million raise and is part of Metaplanet’s goal to hold over 210,000 BTC by 2027, approximately 1 percent of total Bitcoin supply.

The vast majority of the proceeds — around 96 percent — will go toward direct Bitcoin purchases, while a small fraction will support debt management and derivative strategies like selling puts.

Maple Finance expands syrupUSD to Solana

Lending platform Maple Finance announced on Thursday that it has expanded user access by deploying its syrupUSD yield-bearing stablecoin to Solana-based platforms Kamino and Orca.

Previously, it had only been available on the Ethereum blockchain.

According to the announcement, Solana integration is launching with US$30 million in liquidity, which will establish “a deep and stable foundation for lending, trading, and collateral provisioning.’

This new system was made possible by using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which started operating on the Solana main network on May 19. CCIP lets different blockchain systems, specifically those using Ethereum Virtual Machine and Solana Virtual Machine technology, share information.

The ability to transfer data between these distinct blockchain environments is expected to significantly boost efficient and affordable growth within the digital ecosystem.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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The ‘Big, Beautiful Bill’ may face major changes when the Senate begins debate next week.

Look for Senate Republicans to pare down state and local tax deductions—known as SALT—which are important to House Republicans from California and New York.

Almost no Senate Republicans care about SALT. Rep. Mike Lawler, R-N.Y., says he’d oppose the bill if the Senate strips SALT.

Fiscal hawks want further Medicaid changes to achieve additional savings, but Sens. Josh Hawley, R-Mo., and Jim Justice, R-W.Va., represent states with high percentages of their constituents on Medicaid. 

Sen. Thom Tillis, R-N.C., wants to alter the no-tax-on-tips provision, arguing it’s unfair to workers outside tipped industries.

The Senate may also cut House provisions on AI and federal judges, as these policy issues don’t comply with special Senate budget rules.

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The Social Security Administration (SSA) just announced a major update. Starting this summer, Americans with a ‘My Social Security’ account will be able to access their digital Social Security number (SSN) online. The goal is to simplify access, reduce paper card replacements and improve data protection.

But with convenience comes new cybersecurity concerns. Here’s how the digital SSN works, why it’s being introduced now and the steps you should take to protect your SSN from identity theft both online and offline.

What is the digital SSN? New Social Security feature explained

The SSA is introducing secure digital access to your Social Security number through the ‘My Social Security’ portal. If you forget your SSN, misplace your card or need to share your number for non-SSA purposes (such as job applications or financial services), you’ll be able to view your number online from a mobile device.

‘This enhancement will provide individuals…a simple solution allowing them to securely view their SSN online,’ said the SSA. This update eliminates the need for mail delays or in-person visits to your local SSA office.

Why the SSA is releasing digital SSNs in 2025

There are a few big reasons the SSA is rolling this out now:

  • Aging physical cards: The SSA estimates there are 47 different versions of the Social Security card still in circulation. Many of them were issued before 1983 and lack basic security features, making them easier to forge or misuse.
  • Rising identity theft risks: Your SSN is one of the most sensitive identifiers tied to your name. When cards are lost, stolen or handled carelessly, it creates opportunities for identity theft, fraud and account takeovers.
  • Demand for digital access: More Americans now expect to access government services from their phones or computers. Long lines at SSA offices and delays in mail processing have made it harder for people to get help quickly. A digital SSN provides faster, safer and more convenient access to your number when you need it.

Digital SSN launch date: When you can access it

The digital SSN option will be available in early summer 2025. If you already have a ‘My Social Security’ account, you’ll be able to access the feature once it rolls out.

How to access your digital Social Security number online

You’ll need a ‘My Social Security’ account to use the digital SSN features. Here’s how to get started:

Go to ssa.gov/myaccount and click ‘Create an Account.’

You’ll be asked to provide your name, birthdate, SSN and address. The SSA may use a third-party identity verification service and ask questions based on your credit report.

Use a strong, unique password and set up two-factor authentication with your phone number or an authenticator app. Consider using a password manager to generate and store complex passwords.

Once the digital SSN feature launches, you’ll be able to view your number securely from your account on a mobile device or computer.

If you’re already signed up, double-check your security settings and make sure your contact information is current.

7 ways to protect your Social Security number from identity theft

Even with digital access making your SSN more convenient, it’s still one of the most sensitive pieces of personal information you own. If your SSN falls into the wrong hands, it can lead to identity theft, credit fraud and even tax return scams. Here are the best ways to protect it:

Create a unique, complex password for your ‘My Social Security’ account and enable two-factor authentication. This ensures that even if someone guesses your password, they won’t be able to log in without a second verification step. Consider using a password manager to generate and store complex passwords. Get more details about my best expert-reviewed password managers of 2025 here.

If you’re checking your SSA account, avoid doing so over unsecured networks like public Wi-Fi. Use a secure home network or VPN to encrypt your connection and protect your session from hackers. For the best VPN software, see my expert review of the best VPNs for browsing the web privately on your Windows, Mac, Android and iOS devices.

Scammers often pose as the SSA to trick you into revealing your SSN. Don’t click links in unsolicited emails or texts and never give personal information unless you’re sure the source is legitimate. Always go directly to ssa.gov if in doubt.

To block suspicious links and attachments before they reach you, consider using strong antivirus software. The right antivirus can help detect phishing attempts and protect you from malicious downloads. Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android and iOS devices.

Staying on top of your financial activity is one of the most effective ways to catch identity theft early. That’s where identity protection services come in. Identity theft companies can monitor personal information like your Social Security number, phone number and email address and alert you if it is being sold on the dark web or being used to open an account. They can also assist you in freezing your bank and credit card accounts to prevent further unauthorized use by criminals. See my tips and best picks on how to protect yourself from identity theft.

Make it a habit to review your credit reports regularly. Look for unfamiliar accounts, unauthorized inquiries or incorrect personal information. If something seems off, contact the credit bureau right away to dispute it.

Prevent fraudulent tax filings using your SSN by setting up an Identity Protection PIN with the IRS. This six-digit number adds another layer of protection during tax season.

Log in to your ‘My Social Security’ account regularly to review your earnings history and benefits. This helps ensure your information hasn’t been altered or compromised.

Kurt’s key takeaways

Starting this summer, the SSA will let you view your Social Security number online through your ‘My Social Security’ account. It’s a secure, convenient update that cuts down on lost cards and office visits. To use it safely, set up strong login credentials and two-factor authentication. And since your SSN remains a top target for identity thieves, now’s the time to protect it with tools like a password manager, VPN, antivirus software and identity theft monitoring.

Do you trust digital access to your Social Security number? Let us know by writing to us at

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to 

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For more than three years, Russia has used its fleet of bombers to rain hellfire on Ukraine. On June 1, Kyiv responded by going after those bombers.

The operation, codenamed “Spiderweb,” was 18 months in the making. Dozens of hidden drones emerged from trucks parked in Russia, racing to airfields thousands of miles from Ukraine and destroying at least 12 bombers.

Although the operation was a huge boost for Ukrainian morale, many in the country braced for Moscow’s retaliation. Their fears sharpened when Russian President Vladimir Putin told his US counterpart Donald Trump on Wednesday that the Kremlin would “have to respond” to the attack.

Russia’s initial retaliation began Thursday night, in the form of a massive drone and missile strike on Kyiv and across the country. Russia’s Ministry of Defense described the strikes as a “response” to Kyiv’s “terrorist acts.” The attack was punishing, but not qualitatively different to what Ukraine has grown used to over three years of war.

Russia’s response so far to Ukraine’s extraordinary operation has raised questions about Putin’s ability to escalate the war and exact the retribution that many of his supporters have clamored for. And it has left Ukrainians wondering if it has already felt the brunt of Russia’s response, or if the worst is yet to come.

In determining Russia’s retaliation, analysts say, Putin has faced several constraints. One is political: Mounting a large-scale, innovative response to the “Spiderweb” operation would be akin to admitting that Ukraine had inflicted a serious blow against Russia – an impression the Kremlin has been at pains to avoid, said Kateryna Stepanenko, a Russia analyst at the Institute for the Study of War, a think tank in Washington DC.

In a meeting with government ministers on Wednesday, Putin received a lengthy briefing on recent bridge collapses in Kursk and Bryansk, blamed by Russia on Ukraine. Yet, aside from Foreign Minister Sergey Lavrov’s reference to recent “criminal provocations” by Kyiv, there was no mention of the “Spiderweb” operation.

In Russian state media’s coverage of Putin’s call Wednesday with Trump, little was made of the Russian president’s pledge to “respond” to Ukraine’s attack. Instead, the reports focused on the outcome of recent peace talks in Istanbul.

Tit for tat?

Putin has also faced material constraints. Whereas Russia’s near-daily strikes on Ukraine used to involve just dozens of drones, they now routinely use more than 400. A day before Ukraine’s “Spiderweb” operation, on May 31, Russia launched 472 drones at Ukraine – a record in the three-year war, which was surpassed again during Sunday night’s attacks, which used 479 drones.

“Russia’s response is constrained by the amount of force they’re constantly using,” said William Alberque, a former NATO arms control official now at the Stimson Center think tank.

“How would you know if Russia was actually retaliating? What would be more brutal than them destroying apartment flats or attacking shopping malls? What would escalation look like?”

Russia’s pro-war community of Telegram bloggers was not short of ideas. Some prominent channels said that Kyiv’s strikes on Moscow’s nuclear-capable bombers warranted a nuclear strike on Ukraine. Others called for a strike using the Oreshnik ballistic missile, which was unveiled by Putin last year, and has so far been used only once against Ukraine.

Although Putin often praises his new missile, it has limited uses, said Mark Galeotti, a leading Russia analyst.

One target could be Ukraine’s security services, the SBU, which masterminded the “Spiderweb” operation, he said.

“But that’s not something you can do quickly,” he cautioned. “In some ways, Putin has already swept away most of the escalation rungs at his disposal, which means that he doesn’t have the option for clear punishment.”

In a sign that Moscow’s “retaliation” may be ongoing, Russia’s Ministry of Defense said it had struck a Ukrainian airfield in the western Rivne region on Sunday night – a week after Ukraine’s attacks on Russian airfields.

The ministry said the attack was “one of the retaliatory strikes” for Kyiv’s “terrorist attacks” against Russia’s airfields, suggesting there may be more to come. Yuriy Ihnat, a spokesperson for Ukraine’s air force, said the attack on the airfield was “one of the biggest ever carried out by Russia.” Although air defenses “performed very well,” he said it was “impossible to shoot down everything.”

Grinding on

Although Putin may be constrained in his ability to respond to Ukraine’s spectacular operation with one of Russia’s own, this may not matter on the battlefield, said Galeotti.

“From a political perspective… it’s the Ukrainians who demonstrate that they are the nimble, imaginative, effective ones, and the Russians are just thuggish brutes who continue to grind along,” he said. “But from the military perspective, in some ways, that’s fine.”

While Ukraine may have the initiative in terms of headlines and spectacle, Russia still has the initiative on the battlefield. Russian troops have opened a new front in Ukraine’s northern Sumy region and are now just 12 miles from the main city. And on Sunday, Moscow claimed that its forces had advanced into the central Ukrainian region of Dnipropetrovsk for the first time, after months of clashes.

The question is whether “Putin is willing to accept whatever damage happens on the home front, precisely for his slow attrition grind forward,” said Galeotti.

Alberque, of the Stimson Center, said a lot rests on whether Ukraine has been weaving more “Spiderwebs,” or whether its drone attack was a one-off.

“The fact that this operation was a year- and-a-half in the planning – how many other operations are a year-in right now?” he asked.

Two days after the drone attack, Ukraine’s SBU unveiled another operation – its third attempt to blow up the bridge connecting Russia and the occupied Crimean Peninsula. The bridge over the Kerch Strait was not significantly damaged, but the attack reinforced the SBU’s commitment to impressing upon Moscow that there are costs to continuing its war.

If “humiliating” operations like those continue, Putin will come under greater pressure to deliver a response that is different in kind, not just degree, Alberque said.

“Putin is such a creature of strongman politics,” he added. “(The Kremlin) is going to look for other ways to strike back, to show the Russian people that Putin is a great wartime president who is inflicting horrible damage on his enemy, rather than a victim of these spectacular Ukrainian attacks.”

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By all appearances, the world is edging perilously close to the brink of a catastrophic global conflict. In just the past few days, five deeply troubling developments have emerged — each significant on its own — but taken together, they form a pattern too urgent to dismiss. Viewed in context, these events expose a rapidly deteriorating international order, where diplomacy is failing, deterrence is weakening, and the risk of multi-theater war is rising sharply. 

First, Ukraine’s audacious drone strike deep inside Russian territory — reportedly destroying or damaging a significant share of Russia’s strategic bomber fleet — bears the hallmarks of Western involvement. While Kyiv claimed responsibility, the attack’s sophistication, including precise long-range targeting and coordinated timing, suggests U.S. or NATO intelligence and technological support.  

Former intelligence officials have even pointed to likely CIA or allied agency involvement. Whatever the true origin, Moscow now sees itself not merely at war with Ukraine, but with the broader Western alliance. Russia’s retaliation — whether cyber, kinetic or covert — could spiral well beyond the front lines. 

Second, efforts to rein in Iran’s nuclear ambitions have collapsed further. Supreme Leader Ayatollah Ali Khamenei publicly rejected a U.S. proposal that would have permitted tightly restricted low-level uranium enrichment. Denouncing the offer as ‘100% against our interests,’ he reaffirmed Iran’s demand for full sovereign enrichment rights.  

With Israel openly contemplating military action and negotiations at a standstill, the Middle East stands on the edge of a potentially region-wide conflagration — especially if Iran accelerates toward weapons-grade enrichment. 

Third, a highly anticipated phone call between President Donald Trump and Russian President Vladimir Putin yielded no diplomatic breakthrough. Though both men discussed the escalating war and the drone strike, the call ended with no commitments, no ceasefire, and no plan for de-escalation.  

Trump admitted it was not the kind of conversation that would bring peace. Instead, the call served to underscore how deeply entrenched the conflict has become — and how narrow the remaining diplomatic off-ramps now are. 

Fourth, a chilling threat emerged on American soil. Federal prosecutors charged a Chinese national couple with attempting to smuggle Fusarium graminearum into the U.S. — a crop-killing fungus labeled by the Justice Department as a potential ‘agroterrorism weapon.’ The pathogen can devastate wheat, barley and corn, and its toxins are harmful to both humans and livestock.  

Iran wants to keep Hamas in place and protect Houthis: Middle-East expert

The couple is linked to Chinese state-sponsored research and is suspected of prior smuggling attempts. Whether or not this plot was state-directed, it underscores an alarming vulnerability: America’s homeland is increasingly exposed to unconventional threats from hostile actors. 

Fifth, U.S. Secretary of Defense Pete Hegseth warned that China may be preparing to launch a full-scale invasion of Taiwan. Speaking at the Shangri-La Dialogue in Singapore, he declared, China ‘is rehearsing for the real deal.’  

With Beijing ramping up military drills and tightening its rhetoric, the Taiwan Strait has become a powder keg. Should China act, U.S. intervention would be virtually guaranteed — potentially igniting a major conflict in the Indo-Pacific. 

Together, these flashpoints paint a stark picture of a world in crisis. Three nuclear powers — Russia, China and Iran (potentially) — are simultaneously testing Western resolve.  

The United States faces a mounting burden to deter aggression on multiple fronts, with few diplomatic successes to lean on. Traditional tools — talks, sanctions, summits — are proving inadequate. What remains is a binary choice: step back from global leadership or confront rising threats in Europe, the Middle East and Asia, possibly all at once. 

This is not alarmism. This is convergence. With diplomacy unraveling, adversaries emboldened and the homeland no longer secure, the global order is careening toward synchronized escalation. The world is not yet at war — but it is teetering dangerously close to systemic conflict that could engulf major powers and redraw the map of the 21st century. 

The warning lights are flashing red. The only question now is whether the world will act — or continue its drift toward fire. 

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Acclaimed Ukrainian opera singer Vladislav Horay has been killed while on a volunteer mission to the Sumy region, where a frontline battle for territory continues.

Horay was a soloist with the Odesa National Opera, which said in a statement that he was a “world-class tenor” and “Honored Artist of Ukraine,” whose voice was known around the globe.

“Tragic news has shaken the entire artistic community of Ukraine,” the opera house said in a post on Facebook on Sunday. “(Horay) was not only a talented performer — he was an example of strength, dignity, and kindness in life.”

The post did not say how Horay died.

According to a June 5 post on Horay’s Facebook, he was raising money for a Ukrainian naval unit.

Horay joined the Odesa National Academic Theater of Opera and Ballet in 1993 and performed in the USA, Britain, Canada and many other countries, according to its website. He also toured Britain and performed at London’s Royal Albert Hall.

His last performance was just a day before he died, according to the Odesa opera house, which uploaded a video of Horay singing the Neapolitan song “O Sole Mio.”

“Today, we share this video with you. It is not just a performance. It is farewell. It is the last concert. It is the last gift from a singer who lived for the stage and left a piece of his soul there.”

The northeast Sumy region where the Opera house said Horay was killed, has been a fierce battleground in the Russia-Ukraine war. The Opera said he was there on a volunteer mission, but did not elaborate.

Russian forces have in recent weeks made incremental progress advancing towards the capital of the region, also called Sumy.

While capturing the region’s capital is likely beyond what Moscow is setting out to do, the move underlines the pressure Kyiv is under, from the northern border to the Black Sea.

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North Korea has moved a new warship damaged in a botched launch to a port near the Russian border, a move analysts say could point to a role for Moscow in repairing the vessel.

Satellite images taken Sunday by Maxar Technologies show the 5,000-ton destroyer, as yet unnamed, in a drydock in the port of Rajin, part of North Korea’s Rason special economic zone, which abuts its short border with Russia.

While not a major shipbuilding facility like the shipyard in the northeastern city of Chongjin where the launching accident occurred, Rajin has facilities for modest repairs and maintenance, said Yu Jihoon, director of external cooperation and an associate research fellow at Korea Institute for Defense Analyses.

And its proximity to Russia “makes it a key node for North Korea’s efforts to deepen economic and potentially military ties with Moscow,” Yu said.

A 2024 report from the Modern War Institute at West Point, the United States Military Academy, calls the Rason economic zone “a significant point of North Korea–Russia cooperation, recently implicated in North Korean arms shipments to Russia for use in Ukraine.”

The warship was damaged on May 21, when during its launch the stern went into the water but the bow stayed stuck on land. The ship turned on its side in the botched maneuver.

North Korean leader Kim Jong Un, who attended the launching ceremony, ordered the destroyer to be repaired by the late-June plenary session of the ruling Workers’ Party, calling it a matter of national honor.

State media reported last week repairs at the Rajin drydock would take seven to 10 days, meeting Kim’s timeline.

Kim said it’s possible the ship’s sonar and depth finders, located on the bow section, were damaged during the botched launch.

Such damage would likely require foreign help to repair, he said.

“North Korea is believed to lack the technology for sonar systems, so they likely imported them from China or Russia,” Kim said.

“The vessel’s external damage doesn’t seem significant, and the main issue seems to be the water flooding into the warship” was the assessment of the South Korean military, Yu said.

Internal spaces of the ship, as well as machinery and electronics, will have to be purged of sea water and dried salt in the repair process, analysts said.

Yu said Russian assistance in the repair process was a possibility, but it would be difficult to verify if it only involved engineers and not the movement of major pieces of equipment.

North Korea is believed to have sent millions of munitions, including missiles and rockets, to Russia over the past year, according to watchdog the Multilateral Sanctions Monitoring Team.

In return, Russia has provided North Korea with valuable weapons technologies, including air defense equipment, anti-aircraft missiles and electronic warfare systems as well as refined oil, the watchdog said last month.

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