AI Frenzy: Billion-Dollar Deals, Breakthroughs & Backlash (Aug 3–4, 2025)
On August 2, 2025, the EU AI Act reached a milestone with governance standards, general-purpose AI (GPAI) classification and a sanctions regime coming into force, as Alphabet’s Google signed the EU’s voluntary AI Code of Practice while Meta declined. A U.S. Senate plan led by Ted Cruz and Marsha Blackburn to preempt state AI regulations was revised to a five-year moratorium with carve-outs on issues like artists’ voices and child safety, drawing opposition from 17 Republican governors led by Arkansas Governor Sarah Huckabee Sanders and criticism from Senator Maria Cantwell. At WAIC, Chinese Premier Li Qiang proposed a new international