Doug Krisner

Today, Microsoft shares were down 3.5%.

OpenAI is reportedly leaning toward holding off on its IPO until next year.

The New York Times reports bankers for OpenAI say recent volatility in tech stocks and in SpaceX shares in particular after its record IPO could dampen enthusiasm from retail investors for OpenAI's initial public offering.

Bloomberg's Romain Bostic says waiting may be a smart move if the company wants to maximize its value.

That is Bloomberg's Romain Bostic.

He went on to say that OpenAI CEO Sam Altman views a potential valuation under a trillion dollars as a non-starter.

New York City's Rent Guidelines Board has voted to freeze rents for roughly one million rent-stabilized apartments.

This decision hands Mayor Zoran Mamdani a political victory and delivers on a central promise that launched him to City Hall.

And that is news when you want it.

With Bloomberg News Now, I'm Doug Krizner and this is Bloomberg.

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News when you want it.

With Bloomberg News Now, I'm Doug Krisner.

Crude oil prices spiked today after Iran attacked a Singapore-flagged cargo ship in the Strait of Hormuz.

According to UK Maritime Trade Operations, the attack inflicted damage to the ship's bridge but left no casualties.

This took place near the coast of Oman.

Hours earlier, Iran's navy had warned vessels not to use routes through the strait that hadn't been permitted by the regime.