Episode summary
US Ratchets Up Iran Pressure; OpenAI Funding to Top $100 Billion | Bloomberg Daybreak: US Edition
Summary
Oil rose as the US signaled it may be preparing a harder line with Iran even while diplomacy continues. Bloomberg’s Paul Wallace said the US has built up a large military presence in the Middle East, including a second aircraft carrier, and some market participants think Washington could strike before talks collapse. White House press secretary Caroline Levit said diplomacy remains the first option, but Wallace argued the military buildup and visa restrictions on Iranian officials are keeping geopolitical risk elevated and helping support Brent above $70 a barrel.
The broadcast also highlighted fallout from the Jeffrey Epstein files. Les Wexner testified behind closed doors that he visited Epstein’s private island once with his wife and children but said he did not know about any sex trafficking. Congressional investigators continue to examine how Epstein’s network may have helped his enterprise, while Democrats on the committee said Wexner’s close relationship with Epstein was obvious.
On markets and tech, Bloomberg News reported OpenAI is close to the first phase of a funding round expected to raise more than $100 billion, potentially valuing the company above $850 billion. Barbara Reinhard of Voya said US software stocks look oversold and she does not see a reason to go to cash, even after the Nasdaq’s sharp pullback.
Key takeaways
- The host said US-Iran tensions and a large US military buildup in the Middle East are keeping oil supported, with Brent above $70 a barrel.
- Paul Wallace said some traders think the US could strike Iran before nuclear talks fully break down.
- Les Wexner told congressional investigators he visited Epstein’s island once but said he was unaware of any sex-trafficking operation.
- Bloomberg News reported OpenAI’s new funding round is expected to top $100 billion, with a possible valuation above $850 billion.
- Barbara Reinhard said US software stocks are oversold after a 33% correction from last year’s peak, and she does not think investors should move to cash.
Notable quotes
“the Americans will say, "Okay, let's go to round three." And we don't know where that will be”
“there are plenty of people including uh including in the oil market who think America might be uh essentially trying to lull Iran into a false sense of uh uh security”
“he visited Epstein's private island once with his wife and children but was unaware of any sex trafficking operation”
“OpenAI is close to finalizing the first phase of a new funding round that's expected to bring in more than a hundred billion dollars”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager. — And I'm Karen Moscow. Here are the stories we're following today.
And Karen, oil is on the rise again after gaining the most since October yesterday. This morning, West Texas Intermediate is up 1%. That's as Axios has reported, the Trump administration is closer to a major war in the Middle East than most expect.
Axio says a US operation would likely be a week's long campaign. We get more from Bloomberg managing editor Paul Wallace in Dubai. It sounds as if Iran has, you know, roughly two weeks to get back to the Americans and then if they're broadly satisfied, the Americans will say, "Okay, let's go to round three.
And we don't know where that will be. Um but of course there are plenty of people including uh including in the oil market who think America might be uh essentially trying to lull Iran into a false sense of uh uh security and maybe willing to strike the country um you know before Iran you know returns with those proposals cuz that's you know in some senses that echoes what happened in June last year with the 12-day war between Iran and Israel and then America um at the end you know that that will happen when or at least it started when the US and Iran were in the middle of nuclear talks.
Bloomberg's Paul Wallace says the US has announced visa restrictions on Iranian officials and executives for repressing recent anti-regime protests and cutting off internet access. — Now Nathan to the latest fallout from the Jeffrey Epstein files. Billionaire retail mogul Les Wexner testified behind closed doors about his relationship with the late sex offender to Democrats on the House Oversight Committee.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran us tensions
- visa restrictions
- brent crude outlook
- epstein investigation
- openai funding round
Companies and tickers mentioned
- OpenAI
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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