US technology giants have significantly increased their investments in data center leases, surpassing $850 billion in the first quarter of 2026. This surge, representing a 204% rise from the same period last year, is primarily driven by the race to build artificial intelligence infrastructure.

Economic Warnings and Market Reactions

Former Federal Reserve Bank of Kansas City President Esther George has advised Americans to prepare for higher interest rates given ongoing inflation. George, known for her hawkish stance, suggested that long-term financial planning should account for the possibility of increased rates.

Cathie Wood of Ark Investment Management criticized the June jobs report, describing it as "weird" and "very distorted." She proposed that the Federal Reserve should incorporate more private sector data to validate the official numbers.

Regulatory and Industry Developments

The Trump administration has increased pressure on the oil industry. The Department of Justice and the Federal Trade Commission have urged state attorneys general to investigate whether oil companies are maintaining high gasoline prices despite falling crude oil costs. Federal authorities are closely monitoring petroleum markets for potential antitrust violations.

Employment and Investment Trends

Venture capitalist Chamath Palihapitiya made a sarcastic remark about AI replacing human jobs. This comment comes as Corning and Nvidia announced plans to create over 3,000 jobs through the construction of new advanced optical fiber manufacturing facilities.

Angel investor and All-In Podcast host Jason Calacanis publicly praised Alphabet Inc. CEO Sundar Pichai, calling him 'an amazing American' and crediting immigration policy for the tech sector's rise. Calacanis expressed these sentiments in a late Saturday post on X, highlighting the contributions of immigrants to the American tech industry.

Immigration Engines Innovation

In his post, Calacanis wrote, 'America was built for immigrants, by immigrants.' He cited fellow All-In Podcast co-hosts David Sacks, a South Africa-born venture capitalist who served as President Donald Trump's White House AI and crypto czar before stepping down in March, and Chamath Palihapitiya, a Sri Lanka-born investor. He also mentioned Tesla Inc. CEO Elon Musk, who emigrated from South Africa.

In a separate post, Calacanis thanked United Kingdom-born co-founder and CEO of Starcloud, Philip Johnston, for 'choosing America.'

Trump Thanked, Miller Tapped For 'Second Act'

Calacanis thanked President Trump for supporting high-skilled immigration and suggested White House Deputy Chief of Staff Stephen Miller, known for his hardline immigration stances, pursue reform as a 'second act.' This praise contrasts with President Trump's record on high-skilled visas during his second term, which has generally been more restrictive.

In September 2025, his administration imposed a $100,000 fee on new H-1B visa petitions, but a federal judge struck it down in June while appeals continue. The Department of Homeland Security also replaced the H-1B random lottery with a wage-based selection system beginning with the fiscal 2027 cycle.

H-1B Employment Data

Alphabet employed almost 5,550 H-1B workers in 2023, according to Pew Research Center data. The table below summarizes key H-1B-related figures mentioned in the filing.