Trump on Iran Talks, Nvidia Circular AI Concerns, More
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What is the main topic discussed in this episode?
The Bloomberg This Weekend Podcast. News, politics, and the lighter side of Bloomberg. The great wealth transfer includes $570 billion in classic cars.
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News when you want it with Bloomberg News Now. I'm Doug Krisner. The U.S. 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 U.S. 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, any clear exit strategy.
Are U.S. and Iran holding diplomatic talks to avoid renewed fighting?
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.
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. NVIDIA CEO Jensen Huang will meet this week with Senator Mark Warner in Washington, and at the same time, OpenAI CEO Sam Altman is also expected to meet with Warner. Warner is the top Democrat on the Senate Intelligence Committee, and he has expressed serious concerns after OpenAI's most advanced AI model inadvertently hacked the internal systems of the AI startup Hugging Face. 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.
What did President Trump say about the prospects and risks of Iran negotiations?
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.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:01
2
Are U.S. and Iran holding diplomatic talks to avoid renewed fighting?
2:01–4:15
3
What did President Trump say about the prospects and risks of Iran negotiations?
4:15–6:17
4
How are Iran and Oman acting to prevent retaliatory attacks and secure shipping?
6:17–7:04
Speakers
4 identifiedMore from Bloomberg News Now
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