June 2026 AI News Roundup: G7 looks at AI model access as OpenAI costs, China rivalry grow

OpenAI burned through $3.7 billion in Q1 on $5.7 billion in revenue and has confidentially filed for a U.S. IPO that could value it at up to $1 trillion, Reuters reports, as G7 leaders debate AI access and U.S. tech controls disrupt global markets.