Marc Filippino

Good morning from the Financial Times.

Today is Thursday, May 21st, and this is your FT News Briefing.

The chip group at the heart of the AI boom keeps on cruising, and critics say Donald Trump has created a fund using tax dollars that will reward his allies.

Plus, the Ebola outbreak in Africa has health experts concerned.

NVIDIA reported quarterly earnings and the world's most valuable company did not disappoint.

The chip designer saw an astounding 85% growth in revenue year-on-year last quarter, bringing it to $81 billion.

And the company said it expects $91 billion in sales for the current quarter.

Now, I know I'm throwing a lot of numbers at you right now, but here's one you should definitely remember.

$80 billion.

Nvidia said it's approving that amount in stock buybacks and that it's increasing its quarterly dividend.

Just to give you a sense of how well Nvidia is doing, it alone powered nearly a fifth of the S&P 500's gains since the beginning of the year.

U.S.

President Donald Trump has settled with the federal government over his tax returns, which were leaked in 2019.

And the settlement is an unusual one.

The Justice Department will set up a fund.

And if you think the current or previous administration's wronged you, you can apply for a payout from it.

But critics are calling the new so-called anti-weaponization fund an illegal use of taxpayer money.

The FT's Joe Miller has been reporting on this financial vehicle, and he joins me now to talk through all this.

Hi, Joe.

Hi, Mark.