Episode summary
US and Iran Reach Preliminary Deal; Dell Soars on Outlook | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 15 min
Summary
US and Iran were said to be close to a preliminary agreement that would extend the ceasefire by 60 days and open a broader negotiation over Tehran’s nuclear program. The proposed understanding would reportedly keep shipping through the Strait of Hormuz open and push the harder questions, including uranium and sanctions relief, into a longer talks window. Treasury Secretary Scott Bessent repeated the administration’s red lines: Iran cannot reopen the strait, keep highly enriched uranium, or continue its nuclear program unchanged.
Markets took the headlines as constructive for risk assets and negative for oil, which fell further after already dropping sharply in May. The program also said Dell shares surged after the company’s annual sales outlook far exceeded analysts’ expectations, with management projecting strong demand for AI servers. Anthropic, meanwhile, raised $65 billion in a new round at a $965 billion valuation, overtaking OpenAI on that metric.
Other stories included a Blue Origin rocket explosion during testing, a lower SpaceX IPO valuation target, and a broad market rally that has kept the S&P 500 near record highs.
Key takeaways
- The program said the US and Iran have a tentative 60-day ceasefire extension that would leave room to negotiate Tehran’s nuclear program.
- The deal talk was framed as supportive for markets, while Brent crude fell to about $93.30 a barrel and was down roughly 19% in May.
- Dell’s outlook drove a 38% premarket jump because management forecast about $167 billion in revenue for the fiscal year ending January 2027.
- Anthropic raised $65 billion at a $965 billion valuation, surpassing OpenAI’s value for the first time.
- SpaceX is now said to be targeting a $1.8 trillion IPO valuation, down from the $2 trillion level previously discussed.
Notable quotes
“the US and Iran have reached a tentative agreement to extend their ceasefire by 60 days”
“we're reopening the straits of Hormuse. We've already decimated their conventional military”
“the company now targeting a valuation of $1.8 trillion. That's down from the 2 trillion”
“shares of Dell are soaring to an all-time high this morning. The stock up 38% in early trading”
“Anthropic says it's raised $65 billion in a funding round that now values the company at 965 billion”
How the episode opens
Bloomberg Audio Studios podcasts radio news.
Good morning. I'm Karen Moscow and I'm Alexis Christopherus. Here are the stories we're following today.
Alexis, the US and Iran have reached a tentative agreement to extend their ceasefire by 60 days. Sources say further talks on Tran's nuclear program would continue during the extension period. While the agreement has 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 JD Vance told reporters that progress is being made. If you look at what we've already accomplished here, assuming that we're able to get to a final agreement here, we're reopening the straits of Hormuse. We've already decimated their conventional military and we're in a position where we could substantially set back their nuclear program, not just during the term of this president, but over the long term.
That's a very, very good thing for the American people. So, we're not there yet, but we're very close. We're going to keep on working at it.
Vice President J. D. Van says Iran appears to be negotiating in good faith. And we get more on the deal with Bloomberg Middle East correspondent Jim Beti.
Certainly, we've been here before. There have been multiple reports of the two sides edging closer and closer and closer to a deal. The reaction in the market becomes less pronounced.
I would say though that this time does feel a little bit different because you have so many Gulf Arab states also participating in the mediation attempts and it seems as though from the language of the likes of the Treasury Secretary Scott Basson overnight JD Vance as well that this time we really are very very close. Bloomberg Middle East correspondent Jima Bersete says the proposal would guarantee that shipping through the straight of Hormuz remains unrestricted and Karen that news has oil once again lower this morning.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us iran ceasefire
- tehran nuclear program
- strait of hormuz
- ai server outlook
- anthropic funding round
Companies and tickers mentioned
- DELL
- GOOGL
- GOOG
- AMZN
- Dell
- Anthropic PBC
- Altimeter Capital
- Dragoneer
- Greenoaks
- Sequoia Capital
- Alphabet Inc.
- Amazon.com Inc.
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
More from Bloomberg Daybreak: US Edition
-
Nvidia Faces Post-Huang Reckoning, Microsoft Races to Fix Outage | Bloomberg Daybreak: US Edition -
Daybreak Weekend: Nvidia Earnings, UK Labour Market, APEC Summit | Bloomberg Daybreak: US Edition -
Nvidia Weighs Succession Plans; Congress Preparing to Subpoena Jensen Huang | Bloomberg... -
GOP Thwarts Hegseth Impeachment; CoreWeave Quiets Doubts | Bloomberg Daybreak: US Edition -
FBI Investigates Nvidia CEO, Anthropic IPO Snafu | Bloomberg Daybreak: US Edition -
Nvidia CEO Affair Sparks Probe, Trump Admits Policy Mistake | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition, this episode and its artwork belong to Bloomberg. Octagon is not affiliated with the show; this page is an independent summary.
