Chapter 1: What is the main topic discussed in this episode?
The Bloomberg This Weekend Podcast. News, politics, and the lighter side of Bloomberg. Forget healthspan. Midlife men face pressure to extend hotspan.
Hotspan. Hotspan, yes. So millennial men, you have to stay hot for like several more decades, David, okay?
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News when you want it.
With Bloomberg News Now, I'm Karen Moscow. And I'm Alexis Christophorus. Here are the stories we're following today.
Alexis, the U.S. and Iran have reached a tentative agreement to extend their ceasefire by 60 days. Sources say further talks into Iran's nuclear program would continue during the extension period. While the agreement is yet to be signed off by President Trump, the news has raised hopes that the three-month conflict could be nearing a resolution. Vice President J.D.
Vance told reporters that progress is being made.
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Chapter 2: What is the latest update on the US and Iran ceasefire deal?
And Karen, that news has oil once again lower this morning. Right now, Brent crude at 92.29 a barrel, down 1.5%. West Texas Intermediate Crude also down 1.5%, trading at $87.55 a barrel. Crude has weakened in May on speculation that some form of a peace deal would be reached. Brent is down about 19% this month alone, its biggest monthly drop in six years.
Chapter 3: What are the implications of the tentative agreement on Iran's nuclear program?
Well, Alexis, we're following another developing story this morning. Blue Origin's New Glenn rocket has exploded in a massive fireball while undergoing a test on a Florida launch pad. It's a major setback for the Jeff Bezos-backed firm in its efforts to challenge SpaceX. Benedict Campbell is Bloomberg's managing editor for space and aviation.
No harm to human life, it should be said. So this happened during sort of the fueling sequence. They were preparing for a launch in the next couple of days. We've heard from Jeff Bezos, who's called it a very rough day, but he's also vowed to rebuild whatever was broken. He said it's worth it. It's a reminder that space is hard and getting rockets up there are complicated and things do go wrong.
Bloomberg's Benedict Campbell says the firm was preparing the vehicle for its fourth launch, which was slated to deploy a batch of satellites for Amazon's Leo, a rival network to SpaceX's Starlink. None of the satellites were on the rocket when it exploded.
And Karen, Bloomberg News has learned SpaceX is cutting its valuation goal in its impending IPO. John Tucker joins us now with the very latest. Good morning, John.
And Alexis, it's a little more down to earth. Our sources tell us the company now targeting a valuation of $1.8 trillion.
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Chapter 4: How does the US plan to address Iran's military capabilities?
That's down from the $2 trillion the sources told us about last month. The target settling lower after consultations with advisors and investors. SpaceX is expected to start formal marketing of its IPO as soon as June 4th at a price as early as June 11th. Details of the IPO, such as size and valuation, they're typically adjusted ahead of pricing based on feedback from the stakeholders.
The company's still seeking to raise as much as $75 billion, which would make it the biggest IPO of all time. In New York, I'm John Tucker, Bloomberg Radio.
All right, John, thank you. Anthropic says it's raised $65 billion in a funding round that now values the company at $965 billion, including the new investment. This valuation surpasses rival OpenAI's value for the first time.
And Karen, turning to the markets now, we've got stock futures trading mixed at the moment. The S&P 500, though, is on track for its ninth consecutive week of gains. Daryl Kronk is chief investment officer of wealth and investment at Wells Fargo.
Last four years, you know, you've got earnings growth of almost 70 percent and prices are up about 75 percent. So I do think if earnings can sustain here, that along with the M&A cycle, we know the story on CapEx. We know what's coming in front of us in IPOs later this summer and into the fall. There's a lot of things that are triggering some pretty good signs here on the intermediate term.
Well, Spargo's Daryl Kronk there. During this nine-week rally, the S&P 500 has gained 19%.
Well, we're watching shares of Dell this morning, Alexis. They're soaring to an all-time high. They're up almost 38% in early trading. The hardware maker gave an outlook for annual sales that far surpassed analysts' estimates. It's being fueled by demand for servers that power artificial intelligence work. And Brody Ford covers Dell for Bloomberg.
Well, it's all about these servers, right? I think when some of us think about AI revenue, we think about people selling large language models, but it's a lot more than that, right? I mean, somebody needs to build those servers that go into data centers to train all those models and deploy all the applications.
And Dell, a lot of us think of as the kind of boring laptops and computers, but they've managed to really reinvent themselves as physical infrastructure provider for the AI boom. And so, you know, we're seeing some pretty comical revenue ramp here.
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