Trump: Iran Responsible for Houthis, AI Spend Sinks Stocks, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. Tensions are rising along with oil prices following the latest developments from the Middle East. Overnight, Iran-backed Houthi militants claimed their first attack on Saudi oil tankers in the Red Sea since the war with Iran began. This morning, President Trump posted on Truth Social that he'll hold Iran responsible for any further attacks. Secretary of State Marco Rubio says the president means it.
I saw Arachi, their foreign minister. who the other day say or something about their policies, an eye for an eye. The president's policy is ahead for a night.
Secretary of State Marco Rubio spoke at an ASEAN summit in the Philippines. Bloomberg's owner Ott reports from Dubai that the Houthi attack is raising worries in the oil market.
It practically puts at risk exports from an alternative route out of the region that we saw emerged after the Strait of Hormuz came to a standstill following the U.S. and Israeli attacks on Iran. in February 2026.
Bloomberg's owner Ant reporting from Dubai. And this morning, Brent Crude is back around $100 a barrel for the first time in two months, right now trading at $100.10 a barrel. West Texas Intermediate's above $91, a gain there of more than 5%. and stocks are tumbling on geopolitical tensions and concerns about AI spending. Right now, the S&P 500 is lower by 1%. So is the Dow Jones Industrial Average. The tech-heavy Nasdaq Composite is down 2%. Google Parent Alphabet is lower by nearly 7%, wiping out more than a quarter billion dollars of its market value after the company raised its spending forecast for this year to as much as $205 billion. Matthew Bloxam is a tech analyst at Bloomberg Intelligence
How did Houthi attacks in the Red Sea prompt Trump to blame Iran?
The revenue growth was good, particularly in the cloud business. The ad sales business was a bit soft. I think perhaps where some of the disappointment may have been was in the growth in the order book, the pipeline of incremental demand they've got coming through, which grew quarter on quarter, but not spectacularly so. And I think so that kind of leaves this bigger disconnect between how quickly they can generate a return on that incremental capital spending and will it be a big enough return.
That's Matthew Bloxham of Bloomberg Intelligence. We're also watching Tesla shares. They're taking an even deeper dive, down about 13% right now. The EV maker reported its first cash burn in two years, spending $5.8 billion on robots and AI, but it is sticking with plans for about $25 billion in spend this year. Tesla CEO Elon Musk says he wants to spend as fast as he can without being wasteful. This afternoon, big tech earnings continue with Intel reporting after today's closing bell. We get a preview from Bloomberg's Tom Busby.
After falling behind rivals like AMD and NVIDIA, Intel has roared back to life thanks to a turnaround effort aimed at capitalizing on the boom in artificial intelligence spending and rising demand for its Xeon server chips. That helped make up for a sluggish PC market hurt by a shortage of memory chips. Bloomberg Consensus calls for revenue of $14.43 billion and adjusted earnings per share of 21 cents. Tom Busby, Bloomberg Radio.
All right, thanks for that, Tom. President Trump is throwing cold water on a nuclear power deal with Saudi Arabia that his energy secretary signed just yesterday.
What comments did Secretary Marco Rubio make about holding Iran responsible?
In a Truth Social post, the president said the agreement would be subject to Saudi Arabia negotiations. joining the Abraham Accords and normalizing relations with Israel. The president also says there will be no nuclear enrichment under the deal. The pact would allow U.S. companies to expand nuclear development in the kingdom, but it has raised concerns about a lack of guardrails to prevent the Saudis from enriching weapons-grade uranium.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:08
2
How did Houthi attacks in the Red Sea prompt Trump to blame Iran?
2:08–3:43
3
What comments did Secretary Marco Rubio make about holding Iran responsible?
3:43–5:00
4
How are oil markets reacting to Middle East tensions and Houthi activity?
5:00–6:29
Speakers
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