Stephen Carroll

And I'm Stephen Carroll.

OpenAI is close to finalising the first phase of a new funding round expected to bring in more than $100 billion.

Bloomberg understands the record-breaking deal would give the startup additional capital to develop its artificial intelligence tools.

Brad Smith is Vice Chair and President of Microsoft, a key partner for OpenAI.

He says the chat GPT maker is branching out.

Microsoft's Brad Smith there speaking to Bloomberg.

The first portion of the funding round will largely come from strategic investors, including Amazon, SoftBank and Nvidia, as well as Microsoft.

Sources tell Bloomberg the next phase of the deal, which will include venture capital firms and other investors, may bring the total fundraising amount substantially higher.

Shares in Airbus have dropped after the aerospace giant said the lack of reliable engines supplies for its best-selling A320 jets is holding back aircraft deliveries.

In its results, the company says it plans to deliver around 870 jets to customers this year, lower than estimates.

with monthly production of A320s reaching 70 to 75 by the end of next year.

Airbus has suffered from what CEO Guillaume Foy has called a significant shortage of engines provided by Pratt & Whitney, extending the planemaker's struggles to meet record demand.

Oil prices are rising further today after recording their biggest daily jump since October over concerns about military action against Iran.

The moves come after a report from Axios said that American military intervention could come sooner rather than expected.

It quoted unnamed sources saying that a US operation would likely be a weeks-long campaign.

US Representative Raja Krishnamurti says he's worried about the situation escalating further.

Illinois Democrat Representative Raja Krishnamurti there voicing his frustration with US President Donald Trump's foreign policy.

Brent is this morning up 1.4% at $71.34.

Talks between the US and Iran in Switzerland have so far been inconclusive, with a US official saying Iranian negotiators would return to Geneva with a new proposal in two weeks' time.

And those are your top stories on the markets.