Axios

Extreme heat is testing Italy's cheese banks, the vaults that hold Parmigiano Reggiano while it ages for years.

Why it matters: It's an 800-year-old industry that employs thousands and generates about $5 billion a year — and it actually has something in common with one of the biggest questions troubling the trillion-dollar AI buildout.

Chinese open-weight models are closing in on U.S. frontier models' ability to find and exploit security flaws — and they could land in the public's hands more quickly.

Why it matters: Cyber-capable AI models can bring huge gains to both defenders and hackers eager to scale up their operations.

White House deputy national security adviser Andy Baker is leaving the administration in the coming weeks.

Why it matters: Baker, who also served as national security advisor to Vice President Vance, was among the staffers most central to the administration's foreign policy and national security decision-making over the last 18 months.

When Benjamin Netanyahu and Donald Trump met in the Oval Office two weeks ago, the president asked the Israeli prime minister how he was doing in the polls ahead of an Oct. 27 election.

• Netanyahu paused. Then one of his advisers piped up: "Mr. President, he is winning," the aide said, according to a U.S. official familiar with the exchange.

Why it matters: Netanyahu is not winning. And so far, Trump hasn't given him the endorsement he hopes for, despite being asked about it repeatedly by reporters.

• The president could still change his mind. But with just 75 days left until the election, time is running short for Netanyahu.

Marco Rubio has three official Trump administration jobs and a fourth unofficial title: Viral meme star.

• He's been featured in countless "Rubio Realizing" images doctored to capture his grim reaction to being "assigned" more jobs, depending on the news of the day or the crisis du jour in the White House.

Why it matters: For his 55th birthday on May 28, White House staffers and President Trump gifted Rubio with a gold-framed collage of their 68 favorite "Rubio Realizing" memes.

Jared Kushner, President Trump's envoy and son-in-law, is planning to visit Israel next week for talks on the situation in Gaza, according to five sources with knowledge of the plan.

Why it matters: This would be Kushner's first trip to Israel since January. It comes as the White House and Trump's Board of Peace are trying to push forward with the next phase of the Gaza plan, which focuses on disarming Hamas and a potential Israeli withdrawal.

The U.S. auto industry's retreat from China is accelerating, while Chinese carmakers are inching closer to the American market despite attempts to keep them out.

Why it matters: China once represented a lucrative growth opportunity and manufacturing base for American automakers, but those ties are unraveling as Chinese rivals like BYD and Geely expand their reach around the world.

The Justice Department charged 11 people this week in an alleged nationwide immigration fraud scheme involving more than 1,000 sham marriages.

Why it matters: The case is part of the Trump administration's broader push to target suspected fraud in the U.S. immigration system.

Gold prices rose to their highest level in more than two months Wednesday — hitting $4,465 an ounce.

Why it matters: The precious metal has reversed a slump that began shortly after the start of the war with Iran.

• It's a sign that inflation expectations are easing.

Inflation eased in July from a year earlier, with prices inching up slightly from the previous month after falling sharply in June, the Labor Department said Wednesday.

Why it matters: It is the first inflation report since fighting with Iran resumed in early July, though the data suggests inflation had yet to pick back up amid the renewed conflict.