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Japanese Prime Minister Fumio Kishida, U.S. President Joe Biden, and Philippines President Ferdinand Marcos Jr. unveiled agreements to boost security and economic ties at the White House. Highlights include military upgrades, potential Japanese involvement in the AUKUS pact, Microsoft's $2.9 billion investment in Japan, joint AI research, Japan's participation in the Artemis moon project, and a partnership on nuclear fusion. Plans for a high-speed rail in the U.S. using Japanese bullet trains and new investments in the Philippines were also announced.

Microsoft said costs rose sharply as it built new data centers to support AI and that capital expenditures will continue to rise as it buys chips from the likes of Nvidia Corp to power those data centers.