U.S. President Donald Trump has downplayed the collapse of negotiations with Iran, stating he is indifferent to the situation, which has resulted in a significant increase in oil prices. West Texas Intermediate futures rose over 5% to $92.16 per barrel, while Brent crude increased more than 4% to $94.98 per barrel.
Despite these geopolitical tensions, U.S. markets reached record highs, driven by positive developments in the technology sector. Notably, Nvidia's CEO Jensen Huang introduced a new PC processor at the Computex conference, which he claims will revolutionize computing with integrated AI capabilities.
Additionally, AI company Anthropic has filed for an IPO, boasting a revenue run rate of $47 billion, a substantial increase from previous years. Softbank's CEO Masayoshi Son emphasized the magnitude of the AI revolution, likening it to the dot-com boom, as the company announced a €45 billion investment in AI infrastructure in France.
This situation mirrors the dot-com bubble, where only a few stocks, primarily in AI, are achieving record highs, raising concerns about speculative market behavior as noted by Bank of America's Michael Hartnett