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Here's your morning brief for Thursday, May 7th. I'm Daniel Bach for the Wall Street Journal.

We are exclusively reporting that a spike in fuel prices is sparking concern among President Trump's advisors.

That is, more than 8 and 10 Americans say struggles at the gas pump are putting strain on their finances,

according to a new poll by NPR, PBS, and Marist. And 63% of Americans put a great deal or a good

amount of blame on the president for the increase in prices. The surge in fuel cost is hurting

air travel, too, with U.S. domestic ticket prices rising 20% in March. Washington and Beijing are

weighing formal talks to manage a potential AI arms race,

focusing on risks like autonomous military systems and unpredictable models. Treasury Secretary Scott

Besant is leading the U.S. side, while the administration waits for China to name a counterpart.

Ultimately, President Trump and Xi Jinping will decide if these discussions become part of the agenda for their summit next week.

And British semiconductor designer Arm Holdings is doubling its demand forecast for a new line of computer chips, just months after it jumped into the AI chip game.

Arm now expects $2 billion worth of chip sales through early 2028.

The company said it currently lacks supply to meet that demand.

While ARM shares retreated after those earnings, its majority owner Japan's soft bank is up more than 18% today lifting the Niki to a new record.

Credited for the jump, a rise in hopes for U.S.-I peace talks that triggered a wave of AI stock buying.

Asian stocks ended the day mainly higher.

European stocks are mixed in midday trading, and U.S. stock futures are edging higher ahead

of earnings from McDonald's, Corweave, Airbnb, and Coinbase.

And we have a lot more coverage of the day's news on the WSJ's What's News podcast.

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