'Intense' Iran Talks, Cuba Says It Will Defend Itself, More
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What are the latest developments in Iran's nuclear talks?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. Intense and very serious. That's how Iran is describing the latest round of nuclear talks in Geneva with U.S. envoys Steve Witkoff and Jared Kushner. Mediators from Oman say the discussions have been positive so far. An Iranian foreign ministry spokesman tells state TV he hopes the negotiations continue to focus on the nuclear issue and sanctions relief. Bloomberg's Paul Wallace reports President Trump's giving Iran tilt next Friday at the latest to reach a deal.
It's undeniable that there are huge risks and huge complications for the U.S. if Trump decides to strike Iran, you know. A limited strike, a strike that, you know, is not aimed at, say, regime change and perhaps only lasts a night or two nights or something, is very different to an extended campaign over a month or something that is looking at regime change. There are a huge number of doubts, even with the U.S., that regime is possible with an air and naval campaign alone. A lot of people just say it can't be done. Bloomberg's Paul Wallace reporting from Dubai.
Cuban President Manuel Diaz-Canel says his country will defend itself against, quote, mercenary aggression. He posted that on X after his government said it got into a deadly firefight yesterday off its northern coast with 10 men on a speedboat who planned to mount an insurrection. That boat was registered in Florida. Bloomberg's Laura Davison has more.
There are heightened tensions between the U.S. and Cuba. There's been an oil embargo for several weeks now in Cuba that the U.S. imposed after the ouster of Maduro in Venezuela. And the country has really kind of added an economic crisis point. There isn't fuel to energize many of the things that they need. A lot of business activity has stopped.
Bloomberg's Laura Davison reports the U.S. plans to do its own investigation into the incident. Four people were killed on that boat, six others wounded and taken into custody. On Wall Street, stocks are turning lower. Investors are giving a bearish response to earnings from NVIDIA. The AI chip giant delivered a 73% surge in fourth quarter revenue and a forecast this quarter that beat the average on Wall Street. Right now, the shares are extending their declines down nearly 5%. Matthew Bloxham covers NVIDIA for Bloomberg Intelligence.
It's a $4.7 trillion market cap company, so there's already a huge amount of growth kind of priced in. And I think this strong performance, both in the quarter that they've just closed and the forward guide, it was very well signposted by their big clients, the hyperscalers. In the last few weeks, we've had updates from all the big ones, Google, Meta, OpenAI, and the rest, and pointing to $650 billion of capital spending on AI data center capacity over the next 12 months.
That's Matt Bloxham of Bloomberg Intelligence. Some software names also gave lackluster earnings, but right now they're surging. Snowflake shares are up 6.5%. Salesforce is up 2%. But Nvidia's decline is dragging on the overall market. The S&P 500 right now is down 9 tenths of 1%. The Dow Jones Industrial Average is lower by a tenth of a percent. And the tech-heavy Nasdaq Composite is sinking 1.6%. The head of the World Economic Forum is stepping down. The organization opened an investigation into Borga Brenda earlier this month after revelations about his ties to Jeffrey Epstein. Bloomberg's David Gurra reports it's the latest fallout from the late sex offenders' connections to global elites.
How is the U.S. responding to tensions with Iran?
We saw that Larry Summers, the former Harvard president, Harvard professor, stepping down from teaching at that institution yesterday as a result of him. being in these files as well.
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