Trump Rules Out Iran Attacks Before Midterms, AI Funding Rush Continues
Oil declined after President Donald Trump said the US would not attack Iran before November’s midterm elections, signaling a period of more than three weeks for no offensive military action against Tehran.
Trump’s decision to lay off on new strikes comes despite Tehran escalating attacks in the waterway, which has boosted risks for vessels that have been moving crude to global market in increasing volumes. The president also said that a US naval blockade of Iran’s ports would remain in full effect.
OpenAI is expecting to reach or exceed $70 billion in annualized revenue by the end of the year, according to people familiar with the matter, driven largely by growth in its enterprise business.
Chapters:
00:00:00 – The Opening Trade Begins: Opening Headlines – OpenAI, Oil and EU-China Trade
00:01:43 – OpenAI’s $50B vs. $70B Revenue Run Rate, AI Valuations, Firmus IPO and SoftBank
00:04:54 – Hurricane Threatens Gulf Oil Production
00:05:33 – China Rejects Claims Its Currency Is Undervalued
00:06:28 – Ian Ferrao, Airtel Money CEO, on IPO & Airtel Money’s African Fintech Growth Strategy
00:11:24 – Revolut CEO Nik Storonsky Eyes US Expansion
00:14:07 – World Trade Organization Chief Economist, Robert Staiger, on AI Investment Boosts Global Trade, Geopolitics Reshapes Global Trade Flows
00:21:50 – Need to Know: UK Politics, France Protests and Hurricane Isaias
00:24:14 – Markets Rise as Oil and Bond Yields Fall
00:26:51 – Wisdomtree Macroeconomic Research Director Aneeka Gupta on AI, Can European Equities Withstand Higher Yields
00:35:04 – OpenAI Revenue Revisions Reassure Markets, Firmus IPO Collapse Tests AI Valuations
00:39:44 – AI Capex Bubble: MLIV
00:43:14 – Stocks to Watch
00:46:19 – European Market Opens
00:49:05 – Tech, Energy and Telecoms Lag
00:50:40 – Goldman Sachs’ Christian Mueller-Glissman on AI Monetization and Investor Skepticism, Outlook for European Equities and Banks
01:00:37 – European Market Movers
01:03:13 – Airtel Money Prepares for London Trading Debut
01:05:33 – China Pushes Back on EU Currency Criticism
01:08:04 – EU-China Trade Imbalance and Market Access
01:10:48 – Weekend Preview and Closing
——–
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