The Trump administration is advancing plans for a dedicated AI Force amid an intensifying global AI arms race with China, even as lawmakers debate emergency kill switches for AI systems. The policy push comes ahead of this week's Trump-Xi summit, where officials will confront the fundamental question shadowing all AI regulation: how can the U.S. slow AI development responsibly without ceding strategic advantage to Beijing? The competing priorities—military advancement versus safety safeguards—are forcing policymakers to weigh national competitiveness against caution. On the business front, Anthropic is delaying its highly anticipated IPO while simultaneously launching a new biology lab, signaling the company's shift toward applied AI research. Meanwhile, data center debt markets are showing early signs of stress, raising questions about whether the infrastructure boom sustaining the AI race can continue to support its capital-intensive demands. These developments underscore the vast financial and organizational stakes driving AI development across government and the private sector.