※ [Global Morning Briefing] summarizes global news delivered by Seoul Economic Daily.
Trump Refuses to Rush, Even Invokes "War Department"
U.S. President Donald Trump has refused to give final signature on a memorandum of understanding (MOU) for ending the conflict with Iran, sending back a revised version with strengthened conditions. Trump said he "will not rush an agreement" but added that "we are close to a good deal," while pressuring Iran to include not only a ban on nuclear weapons development but also a prohibition on purchasing nuclear-related weapons.
The two sides remain far apart. Washington demands a ban on nuclear weapons possession and the unconditional opening of the Strait of Hormuz, while Iran insists that the immediate release of $12 billion in frozen assets is central to any agreement.
The U.S. is simultaneously intensifying economic and military pressure. Treasury Secretary Scott Bessent announced the seizure of $1 billion worth of Iranian-owned cryptocurrency, and additional sanctions were imposed on networks tied to Iran's defense and munitions sectors. Defense Secretary Pete Hegseth said the U.S. is prepared to resume military intervention if negotiations collapse. In fact, U.S. Central Command fired missiles at a Gambian-flagged commercial vessel headed to an Iranian port after issuing more than 20 warnings.
Windows PCs Powered by Nvidia Chips on the Way
Nvidia, in partnership with Microsoft (MS), is set to unveil this week the first official Windows PC equipped with an Nvidia chip as the main processor. The announcement will be made simultaneously on the 2nd at the Computex trade show in Taiwan and at the MS Build conference in San Francisco, with the products to be released through major PC makers including MS Surface and Dell.
The Windows PC chip market has been dominated by Intel, AMD, and Qualcomm. While an Nvidia chip was used in the Surface tablet in 2012, that device ran the lightweight Windows RT OS. This marks the first time an Nvidia chip will be embedded in a full Windows OS.
For Nvidia, the move is interpreted as a strategic step to expand its developer ecosystem and strengthen its data center business, rather than a bid for the PC market itself. Axios noted that "for Nvidia, applying its new processor to data centers is the bigger opportunity, but entering the PC market can serve as a good complement." The reasoning is that as developers grow accustomed to Nvidia chip-based Windows PCs, larger opportunities such as integration with data center products may emerge.
For Microsoft, the collaboration represents an important turning point. With its first AI PC "Copilot+ PC," launched in 2024, having underperformed due to security controversies surrounding its key "Recall" feature, the company is seeking a rebound through its partnership with Nvidia. At this event, MS will also unveil software that allows AI agents to perform tasks locally on PCs.
The EU's trade deficit with China amounts to 1 billion euros per day, and 29 million jobs are threatened by China's overproduction. Experts point out that the two sides, while economically intertwined, are structurally misaligned, making a meaningful reset of the relationship difficult.
SoftBank to Build 132 Trillion Won Data Center in France
SoftBank Group will invest up to 14 trillion yen (approximately 132 trillion won) to build Europe's largest data center in northern France. In the first phase, approximately 79 trillion won will be spent over the next five years to construct data centers of more than 3 GW in capacity in locations including Dunkirk and Bosquel, with final capacity expected to reach 5 GW. Chairman Masayoshi Son is scheduled to make the official announcement on June 1 at "Choose France," a French investment promotion event.
SoftBank will take overall charge of the project but will limit direct investment to a portion of the total, raising funds primarily through project financing. Servers and AI semiconductors will be borne by cloud operators. The company also plans to partner with Schneider Electric to build a new power equipment plant at the port of Dunkirk.
The key reason for choosing France as the site is electricity. France generates about 70% of its power from nuclear energy, ensuring stable supply, and construction costs are lower than in the U.S. While U.S. Big Tech firms such as AWS and Microsoft are also pursuing large-scale AI investments in France, Nikkei pointed to SoftBank's surging debt as a point of concern.
Chinese Solo Trial Results Take ASCO Main Stage for First Time
Chinese firm Akeso's lung cancer drug "ivonescimab" has been selected as one of the five key presentations at the annual conference of the American Society of Clinical Oncology (ASCO), one of the world's three major cancer societies. It is the first time in ASCO's history that results from a China-only clinical trial have been chosen as a key presentation, an event seen as symbolizing the rapid growth of China's biotech industry.
Ivonescimab is a bispecific antibody that simultaneously activates the immune system and blocks tumor blood flow. It is considered a next-generation immuno-oncology candidate to succeed Merck's Keytruda. The FDA is expected to decide on approval by November.
Chinese biotech firms signed $60 billion worth of overseas licensing deals with multinational pharmaceutical companies in the first quarter of this year, a 73% surge year-on-year. The Chinese government has also designated the pharmaceutical sector as a national strategic industry and pledged to nurture it.
The U.S., on the other hand, is showing strong concern. Amid moves to push back, including the signing of the BIOSECURE Act and a USITC investigation into China's biotech industry, concerns are also being raised about the racial representativeness of China-only clinical data and deepening dependence on China.
EU Says "Trade with China Cannot Continue This Way," China Warns of "Retaliation if Discriminated Against"
Tensions are reigniting between the European Union (EU) and China as the EU considers tough measures including expanded import quotas and additional tariffs on Chinese products. The European Commission said the "current EU-China trade and investment relationship is not sustainable," stressing the need for a strong response on both economic and security fronts. China's Ministry of Commerce immediately pushed back, warning that "if the EU unilaterally takes discriminatory measures, we will firmly retaliate."
Earlier this year, a thaw appeared to be taking shape as leaders of major EU countries, including French President Emmanuel Macron and German Chancellor Friedrich Merz, visited China in succession. While analysts saw Europe — fatigued by Trump's "America First" approach — seeking to redefine its relationship with China, the relationship is cooling again as backlash spreads within Europe over the offensive of Chinese products.
