$1 Trillion AI Market With Web of Circular Deals

 

Annabelle Chih/Bloomberg

The Big Take

OpenAI, Nvidia Fuel $1 Trillion AI Market With Web of Circular Deals

 

Why Fears of a Trillion-Dollar AI Bubble Are Growing

Investors have parted with unprecedented sums of money to help AI fulfill its lofty promise. But no one really knows how it will all pay off. 

 

 

Markets Wrap

Asian Stocks Look Muted as Wall Street Hits Pause

Oracle Sinks on Report Its Cloud Margins Are Lower Than Expected

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Trump Threatens No Back Pay for Shutdown’s Furloughed Workers

Such a move could run afoul of a law over worker backpay.

US Shutdown Creates Air Traffic Delays in Chicago, Dallas

US and Canada Working on Formula for Tariff Deal, Trump Says

Samuel Corum/Bloomberg

Fed’s Balance Sheet Runoff in Focus as Bank Reserves Are Ebbing

Prolonged funding pressures in US money markets suggest the central bank may be getting closer to ending the unwinding of its massive portfolio of securities.

US Consumer Borrowing Rises at Slowest Pace in Six Months

Watch: Ray Dalio Says Gold Should Be in Your Portfolio

Dalio Echoes Griffin in Seeing Gold as Safer Than the US Dollar

Dalio said that gold is “certainly” more of a safe haven than the US dollar and the metal’s record-setting rally echoes the 1970s.

Gold Extends Rally With Prices Approaching $4,000

Bloomberg Opinion

Musk’s Cheap Teslas Are the Wrong Kind of Cheap

By Liam Denning, Columnist

Best Evidence Yet That the Dollar Isn’t Dead

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The ‘Merge Canada’ Bit Isn’t Funny — It’s Cruel

By Jessica Karl, Columnist

Sports Bets at the Stock Exchange

By Matt Levine, Columnist

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J&J Must Pay Record $966 Million in Talc Baby Powder Cancer Case

The verdict in California is the largest verdict for a single user in the 15-year litigation.

Prakash Singh/Bloomberg

Tesla Unveils Under-$40,000 Versions of Its Top-Selling EVs

The starting price is roughly 11% cheaper than the base Model Y prior to this addition to Tesla’s lineup.

Victor J. Blue/Bloomberg

Exclusive

Salesforce Tells Clients It Won’t Pay Hackers for Extortion

The company said in a security notification that it had received “credible threat intelligence” indicating that a hacking group was planning to share information stolen earlier in the year.

Earlier

Attacks on Salesloft AI Chatbot Claim Another Victim: Cloudflare

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Exxon Considers Majnoon Oil Field Deal for Re-Entry Into Iraq

35 min

Walmex Names Barrientos New CEO After Sudden Caride Resignation

45 min

Ontario Teachers Is Getting Back to Old-School Private Equity

50 min

Diagnostics Firm BillionToOne Files for US IPO Despite Shutdown

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Inside the Classic Newport Car Show Beloved by New England's Preppy Elite

Newsletter: Washington Edition

Greene Opens Small Crack in GOP Unity on Shutdown Deal

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Big Take Asia: Sanae Takaichi Makes History in Japan

Newsletter: Odd Lots

Seven Thoughts on What’s Happening Right Now

Newsletter: Wealth

Where to Find Big Paydays in Private Wealth

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The dumpling restaurant was started in Taiwan half a century ago. Now there are 17 always-packed locations in the US, including one in Disneyland.

California Proposes New Regulations to Prevent Landfill Fires

If adopted, the rules would address some of the problems highlighted by a recent Businessweek investigation into America’s hot garbage problem.

Shutdown Gives Trump Administration a Chance at DOGE 2.0

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Markets

Odd LotsETFsCryptoDeals

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Ontario Teachers Is Getting Back to Old-School Private Equity

Diagnostics Firm BillionToOne Files for US IPO Despite Shutdown

Thoma Bravo Finalizes $5.5 Billion Dayforce Loan on High Demand

Newsletter: Odd Lots

Seven Thoughts on What’s Happening Right Now

Newsletter: The Brink

Thames Water’s Slog to Fix Its Finances Enters the Final Stretch

Odd Lots

James van Geelen on the Next AI Buildout

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Lots More on the Fed’s Target and the Price of Money

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Tarek Mansour on Kalshi’s Plan to Create Markets in Everything

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Odd Lots

Don Wilson on the Future of GPU Trading

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Ideas and Culture

Weekend NewsletterThe ForecastThe Interview

The Case for Mechanical Watches in a Digital Age

Younger Workers Will Win the AI Economy

Japan’s ‘Zombie’ Companies Begin to Disappear in Sign of Renewal

What Reliving the 1929 Crash Tells Us About Today’s Stock Market

• UBS Shelves Risk Transfer Deal Tied to $2.5 Billion of Loans

  
• Sixth Street’s Easterly Calls Out Peers’ Retail Marketing Push

  
• SEC’s Atkins Says Ballooning Private Markets Not a Systemic Risk

  
• CVC in Talks With Private Credit Funds to Refinance WebPros Debt

  
• UBS Plans SRT Transaction Tied to $1 Billion of Corporate Loans

  

Trade

• Opinion

  Europe Wants a Reliable Partner. India Needs to Step Up.

  
• Opinion

  Best Evidence Yet That the Dollar Isn’t Dead

  
• UK Steel Sector Warns of Crisis as Starmer Vows EU Tariff Talks

  
• Trump Says US and Canada Working on Formula for Tariff Deal

  
• EU Boosts Steel Protections With 50% Levy to Aid Industry

  

Investment Banks

• UBS BB Hires Equity Sales Executive to Boost Brokerage Activity

  
• Societe Generale Hires Petcu for Health-Care Investment Banking

  
• Citi Names Nordic Investment Banking Co-Heads in Expansion Push

  
• Inside JPMorgan’s Investment Bank, Nuclear Hype Raises Concerns

  
• European Banks’ Growing Risk-Taking to Pay Off With Revenue Lift

  

Deals

• Ontario Teachers Is Getting Back to Old-School Private Equity

  
• Thoma Bravo Finalizes $5.5 Billion Dayforce Loan on High Demand

  
• Goldman Sounds Out Buyers for $2.1 Billion Versant Spinoff Loan

  
• Grupo Mexico Rules Out Higher Bid for Citi’s Banamex, Weighs IPO

  
• Starlink Rival AST SpaceMobile Gets Rare Sell Amid 254% Run

  

Inflation

• Uruguay Cuts Key Rate to 8.25%, Flags More Easing Ahead

  
• Dalio Echoes Griffin in Seeing Gold as Safer Than the US Dollar

  
• Fed’s Kashkari Warns Drastic Rate Cuts Would Stoke Inflation

  
• Consumers See Higher Inflation in Year Ahead, NY Fed Survey Shows

  

AI

• CareerBuilder, Job Search Site Toppled by AI, Wraps Liquidation

  
• OpenAI, Nvidia Fuel $1 Trillion AI Market With Web of Circular Deals

  
• Tesla Unveils Under-$40,000 Versions of Its Top-Selling EVs

  
• Oracle Sinks on Report Its Cloud Margins Are Lower Than Expected

  
• JPMorgan’s Dimon Says AI Cost Savings Now Match Money Spent

  

Crypto

• Asian Stocks Look Muted as Wall Street Hits Pause: Markets Wrap

  
• Stablecoin Adoption Poised to Drive Dollar Buying, JPMorgan Says

  
• Winklevoss’ Gemini Gets Lukewarm Street Reaction After IPO Slump

  
• BOE Plans Carveouts on Stablecoin Cap After Industry Backlash

  
• US Removes Sanctions on Paraguay’s Ex-President Amid Warmer Ties

  

Monetary Policy