Pentagon Weighs Cutting Ties with Anthropic, US/Iran Nuclear Talks, More

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Unknown 0:00
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over 10 trillion pounds in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
Dan Schwartzman 0:28
News when you want it with Bloomberg News Now. I'm Dan Schwartzman. Israeli Prime Minister Benjamin Netanyahu has proposed terms for President Trump for a de-escalation deal with Iran ahead of its nuclear talks tomorrow in Switzerland. Israel says the Islamic Republic should not possess enriched material or nuclear enrichment capabilities. Netanyahu also suggesting limiting Iran's range of ballistic missiles. Meanwhile, President Trump's newly created Board of Peace is expected to meet in Washington this week to talk about rebuilding Gaza. Trump says members will discuss $5 billion worth of commitments, even though some reports estimate construction could cost up to $70 billion. Axios reports that Defense Secretary Pete Hegsteth is on the verge of cutting business ties with Anthropic and designating the AI company a, quote, supply chain risk, meaning that others wanting to do business with the military would have to cut ties with Anthropic.
Dan Schwartzman 1:20
The company's CEO wants to ensure its clawed AI model is not used to spy on Americans en masse or used to fire weapons without humans. Anthropic and the Pentagon have held talks for months on the terms under which the military can use the software, with Claude currently the only AI model available in the military's classified systems. Elon Musk, SpaceX and XAI are both competing in a Pentagon contest to produce voice-controlled autonomous drone-swarming technology that's, according to people familiar with the matter. The two companies are among only a handful that were selected to compete in the $100 million prize challenge launched in January. Musk, though, has previously argued against making, quote, new tools for killing people.
Dan Schwartzman 1:59
The contest is expected to progress in phases, depending on the success and interest of the participating companies. Secretary of State Marco Rubio is making the rounds in Eastern Europe, meeting with Hungarian Prime Minister Viktor Orban in Budapest. While speaking to the press, Rubio was asked about U.S. efforts to end Russia's war in Ukraine.
Marco Rubio 2:16
The United States' interest is to see the war end, and we want to do what we can to make it end. We're the only nation on Earth that apparently can get both sides to the table to talk.
Dan Schwartzman 2:25
Peace talks are expected to continue this week. The stop-off in Hungary follows Rubio's visit to Slovakia and the Munich Security Conference in Germany. But Hungary and Slovakia represent friendly territory for Rubio as he pushes to shore up energy agreements with both countries. There could be a second bidding war for Warner Bros. Discovery. Its board is reportedly weighing Paramount's new offer, which includes a breakup fee if Warner ends its deal with Netflix and a backstop on Warner's debt financing. Bloomberg's Tony Juszczyk says Netflix could get the short end of the stick here.
Tony Zizka 2:55
The Paramount offer, the most recent one, which they now seem to have taken up, does have some what seem like pretty big incentives, including debt financing and the breakup fee offer. And so that's a new twist here.
Dan Schwartzman 3:13
Bloomberg's Tony Zizka says Warner Brothers still has concerns about Paramount's offer, but this is the first time the board has considered it could lead to a better deal.

What are the latest developments in US/Iran nuclear talks?

Dan Schwartzman 3:22
Bitcoin's looking for a little direction after four straight weeks of losses. Bloomberg's Monica Ricks reports.
Monica Ricks 3:27
Bitcoin's weekend rally fizzled Sunday, dropping another 2.6% for the week, erasing the largest cryptocurrency's slight rebound from a day earlier. Right now it's trading around $67,000. The second largest digital token, Ether, is trading close to $2,000. But Bitcoin's tanked more than 40% from its all-time peak in October. And according to data from CoinGecko, the broader crypto market has lost almost $2 trillion in value over that same period.

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