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Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up here. If Charles de Gaulle was right when he said that France cannot be France without greatness, then on some measures the Fifth Republic looks out of time. Political gridlock and economic malaise make the slide to inferiority look perilously real lately. SoftBank’s plans to invest as much as €75 billion to build artificial-intelligence data centers in France offer a wholly different narrative.  
Bloomberg’s Peter Elstrom and Caroline Connan report on Softbank’s AI investment plans.
The Japanese conglomerate was bullish about France, saying it’s poised to become a top European hub for AI infrastructure. For that, France can thank President Emmanuel Macron, who personally lobbied SoftBank founder Masayoshi Son. Monday’s announcement builds on Macron’s early recognition of AI’s potential, helping to make a case for France as Europe’s go-to AI power on the back of ready talent and plentiful nuclear energy. France had a national AI strategy way back in 2018, the year after Macron’s election. Paris was early to appoint a secretary of state for AI, and now has an AI ambassador to pursue international exchanges. In startup Mistral, France can boast Europe’s main AI champion. It’s an achievement that stands out all the more given Macron’s broader struggles. On his watch, political and social polarization has deepened and France has seen government churn as disaffection has grown. 
Term limits mean he’s gone next year, and polls suggest the nationalist right may assume the presidency. What that might mean for AI policy is a question even chatbots struggle to answer. Meanwhile, Son’s ability to secure the financing to realize his ambitious plans in France and elsewhere is unclear. Market euphoria over anything AI looks fragile. Public unease over data centers is growing, and the whole idea of promoting a job-killing technology that might turn on its human masters is rightfully regarded with suspicion. For Macron, securing France’s place as an AI power may prove a fitting legacy for his modernizing presidency, or a grim reminder of its shortcomings. — Alan Crawford Global Must ReadsThe US said Israel and Lebanon agreed to a ceasefire if Hezbollah stops its attacks – Washington’s latest bid to keep peace talks with Tehran on track. The Republican-led House of Representatives yesterday voted to halt the war with Iran, breaking with President Donald Trump on an unpopular conflict that is taking a mounting economic toll. Mexico’s former president, who repeatedly pledged to stay out of politics after leaving office, issued a public statement backing his successor, Claudia Sheinbaum, and criticizing growing US pressure on her government. In a rare social-media post, Andrés Manuel López Obrador claimed that the US is using the pretext of combating migration and narcoterrorism to attack Sheinbaum’s government and the ruling Morena party, which he founded. 
Sheinbaum and López Obrador during her inauguration in Mexico City on Oct. 1, 2024.
Photographer: Stephania Corpi/Bloomberg
Germany, France and the UK are working on plans with Ukraine to engage Russia in talks to end the war, a development that comes as they see a shift in momentum strengthening Kyiv’s position. Separately, Ukraine asked Germany to provide dozens of extra Patriot interceptor missiles this year as it faces intensifying Russian strikes, sources say. South Korean President Lee Jae Myung’s Democratic Party won a resounding victory in local elections across the country, piling pressure on opposition conservatives even as a setback in the Seoul mayoral race signaled the limits of its appeal. The win highlights how the People Power Party is struggling to rebuild after a disastrous attempt to impose martial law by its former leader, President Yoon Suk Yeol, who was impeached in late 2024. Satellite imagery appears to show construction at Kim Il Sung Square in central Pyongyang, fueling speculation that Chinese President Xi Jinping may soon make his first trip to North Korea in more than six years. The fencing and construction materials were not seen in images about a month earlier from the square, which has served as a focal point for visits by foreign leaders including Russian President Vladimir Putin. 
Kim Jong Un and Vladimir Putin at Kim Il Sung Square in Pyongyang in June 2024.
Source: Sputnik/AFP/Getty Images
Putin’s push for what he calls Russia’s technological sovereignty is turning into a family affair with the development of key sectors entrusted to one of his daughters and the children of close allies. China has imposed its first travel bans on New Zealand lawmakers after they visited Taiwan, escalating Beijing’s efforts to isolate Taipei and deter foreign governments from engaging with the self-ruled democracy. Indonesian President Prabowo Subianto warned he will not tolerate corruption, saying he got directly involved in firing the head of his flagship $15 billion free-meals program aimed at alleviating poverty and malnutrition. Germany lost a bid to secure a non-permanent seat on the United Nations Security Council, a diplomatic setback for Chancellor Friedrich Merz’s government, which it blamed on its steadfast support for Israel and Ukraine. 
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The risk that Iran is covertly pursuing nuclear weapons is higher today than before the US and Israel launched their first military attacks on the Islamic Republic a year ago, according to western officials citing new data circulated by the International Atomic Energy Agency. Before the June 2025 air assault, Iran’s inventory of near-bomb-grade uranium was subject to weekly IAEA inspection to ensure it wasn’t diverted for weapons. That’s no longer the case. And FinallyProtesters gathered outside the Tirana office of Albanian Prime Minister Edi Rama yesterday demanding his resignation. The source of their anger at first glance seems unlikely: a resort that Rama holds up as epitomizing his goal of encouraging a tourism boom. But it’s not just another destination. The planned €4 billion investment is linked to Jared Kushner, Trump’s envoy and son-in-law. And it’s tapped into rising public resentment over the use of prized coastal land for luxury private developments. The demonstrators have vowed to keep up their protests until all work at the site in Zvërnec, southern Albania, is halted. 
The Zvërnec peninsula in Albania.
Photographer: Ilir Tsouko/The Washington Post/Getty Images
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Thursday, June 4, 2026
Europe’s AI winner
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