Trump: Iran Talks Ongoing, Nvidia Reignites Circular AI Concerns, More
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What is the main topic discussed in this episode?
Hi, I'm David Weston.
News when you want it with Bloomberg News Now. I'm Doug Krisner. The US and Iran have been engaged in diplomatic talks to end their conflict. However, President Trump is warning of a return to fighting if these negotiations do not produce a deal. Now, Trump's remarks came after the US held off attacking Iran for a third straight day. That's despite making threats last week about a major new attack. Here is Trump.
They want to meet, and we're meeting. We'll see what happens. There's a chance we can make a deal. Without what we did, they wouldn't even be talking to us. They requested a meeting through their surrogates and directly. And we're meeting and, you know, good things can happen, I guess.
Now, Iran signaled it was refraining from any retaliatory attacks. However, the Iranian foreign ministry said no formal negotiations are currently taking place. Incidentally, Oman and Iran are trying to reach an agreement to restart shipping through the Strait of Hormuz. Meantime, President Trump is facing congressional pressure to end the war. House Minority Leader Hakeem Jeffries says congressional Democrats will keep resisting Trump's war efforts.
Well, we're going to continue to aggressively push the effort to push back against this reckless war of choice. It's deeply unpopular with the American people, and we have to sustain the intensity. Donald Trump has unfortunately got us involved in this situation without any plan, any objective whatsoever. any clear exit strategy, and now the American people are clearly paying the price.
That is House Minority Leader Hakeem Jeffrey speaking earlier to Bloomberg's balance of power. NVIDIA is intending to finance a fresh round of AI deals worth more than $750 billion. You may recall last Friday, NVIDIA unveiled a partnership with South Korea's SK Hynix Group NVIDIA also saying these companies will be doing more than $500 billion in business with each other. And at the same time, NVIDIA is also in talks to backstop funding of as much as $250 billion to help OpenAI lease computing power. Now, these deals have amplified concerns about circular financing and the potential for skewed demand and magnified losses if AI fails to turn profits. Here is Bloomberg's Ed Ludlow.
It is NVIDIA giving financial support to the companies buying its technology. Now, there are many in the markets that see that as completely constructive because the environment is demand vastly outpaces supply. To their mind, they're greasing the wheels. They are allowing for this infrastructure in the real world to get built, built faster.
What are the latest developments in US–Iran diplomatic talks and Trump's warning?
That is Bloomberg's Ed Ludlow. Separately, we're being told that NVIDIA has committed to invest $5 billion in Ilya Sutskever's AI startup, Safe Superintelligence. Sutskever was a founding member of OpenAI. U.S. listed shares in ASML slid 5.8% today to their lowest level since early June. That drop came on a report of a Chinese state-backed company beginning mass production of machines used to produce semiconductors. The new site, The Information, reports an unnamed Shanghai-based company has started making immersion deep ultraviolet lithography tools. Now, this represents a threat to the Dutch chip-making equipment firm, ASML. The company is considered to have a stranglehold on sophisticated EUV tools used to print critical layers in chips.
The Trump administration has asked the Supreme Court to clear the way for an executive order to place new restrictions on mail-in voting for November's midterm elections. The executive order would require states to complete list of eligible voters. It would also prohibit the Postal Service from sending mail-in ballots to anyone not on that list. Now, a federal appeals court has already ruled against the Trump administration in this case, so now the DOJ filed an emergency request asking the justices to immediately intervene. The office of GOP Senator Mitch McConnell of Kentucky has provided an update on his health, this time with a statement from the Congressional Office of Attending Physician.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–3:10
2
What are the latest developments in US–Iran diplomatic talks and Trump's warning?
3:10–5:36
3
How did Trump describe the meeting requests and chances for a deal with Iran?
5:36–6:56
4
What is Iran's official stance on negotiations and shipping through the Strait of Hormuz?
6:56–7:41
Speakers
9 identifiedMore from Bloomberg News Now
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