Good morning. Here is what mattered in AI today. Anthropic set the price range for its Nasdaq listing, a deal that could value it above $1 trillion. In Paris, governments and leading labs signed a voluntary safety declaration that includes shutdown mechanisms, while New York opened registration for its binding RAISE Act. Google expanded its TPU line, OpenAI brought seller-built agents into ChatGPT and US regulators reopened their school bus inquiry into Waymo. Our guide compares the main ways to tune a model after pretraining, and we have updated our Gemini 4 Carbon report now that the model is broadly available.