Trump Says Iran Talks Ongoing, Chip Rout Deepens, 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 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 seem to minimize the prospects, at least in the near term, for any sort of military escalation. Although last week he repeated threats about carrying out massive strikes on Iran. 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. 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. Semiconductor shares are declining in both Tokyo and Seoul.
Are U.S. and Iran really holding diplomatic talks or preparing to resume fighting?
Now, the weakness actually began in the U.S., where a fresh round of AI deals for NVIDIA, worth more than $750 billion, amplified concerns over circular financing and the potential for skewed demand and magnified losses if, AI fails to turn profits. Now, at the same time, there have been heightened worries over growing threats of competition from China. The Chinese memory chip maker CXMT made its Shanghai debut on Monday after an IPO that will help fund its plans to expand capacity. And today, the new site The Information reported, a Chinese state-backed company has begun to mass-produce immersion deep ultraviolet lithography machines. And that is now a new cause of concern. Here is Bloomberg's Min Min Lo.
This is a Shanghai-based company that has gathered expertise from other Chinese firms, including a state-backed startup. And these machines are going to be deployed to, of course, the Chinese chip makers like CXMT, like Huahong, SMIC. It's an important breakthrough for China because even though DUVs are not as advanced as the EUVs, Bear in mind that the vast majority of chips out there only rely on a DUV machine. The EUVs are only needed for a small sliver of the most advanced chips. So this is still a big breakthrough for China to be able to mass produce the machines.
That is Bloomberg's Min Min Lo. Now shares in Japanese chip equipment makers like Nikon and Tokyo Electron are down by more than 8% each. 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. 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.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–2:17
2
Are U.S. and Iran really holding diplomatic talks or preparing to resume fighting?
2:17–5:08
3
What did President Trump say about potential deals and threats to Iran?
5:08–6:59
4
How is Iran responding to reports of formal negotiations and shipping talks?
6:59–7:54
Speakers
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