Good morning . The US and Iran agree on a ceasefire, sending stocks surging. Shipowners are scrambling to understand the deal to extract vessels trapped in the Persian Gulf. And the US is seen importing a record 2.6 billion pounds of avocados ahead of Cinco de Mayo. Listen to the day’s top stories . — Lily Nonomiya and Nasteho Said Market Snapshot S&P 500 futures 6,831.25 +2.6% Nasdaq 100 futures ...
Good morning . The US and Iran agree on a ceasefire, sending stocks surging. Shipowners are scrambling to understand the deal to extract vessels trapped in the Persian Gulf. And the US is seen importing a record 2.6 billion pounds of avocados ahead of Cinco de Mayo. Listen to the day’s top stories . — Lily Nonomiya and Nasteho Said Market Snapshot S&P 500 futures 6,831.25 +2.6% Nasdaq 100 futures 25,172.50 +3.3% WTI crude oil futures $94.66 -16% Market data as of 02:40 AM ET. Data is subject to provider delays. The US and Iran agreed to a two-week ceasefire that’s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz. Donald Trump announced the agreement hours after Pakistan, a mediator in talks , implored him to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. Oil fell the most in almost six years and stocks surged on the news, giving markets a respite from the turbulence driven by the conflict. West Texas Intermediate tumbled as much as 19% while global benchmark Brent crude slid as much as 16% to $91.70 a barrel. US and European equity futures jumped. Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets. Trump Says US in ‘Heated’ Talks Watch the video Trump said the US will help with the traffic buildup in the Strait of Hormuz. Shipowners have been scrambling to understand the truce’s fine print, hoping to take advantage of a potential window to extract more than 800 ships trapped in the Persian Gulf. Benjamin Netanyahu said Israel supported Trump’s decision, but that the ceasefire doesn’t include Lebanon. White House Press Secretary Karoline Leavitt, meanwhile, urged caution over reports of in-person talks with Iran, saying that discussions wouldn’t be finalized until announced by Trump. Pimco is in talks with Bank of America to help provide roughly $14 billion of debt financing to build a massive Oracle data center in M...
Axon Enterprise (NASDAQ: AXON) hit a 18-month-low on Tuesday, though there wasn't any obvious news out on the law enforcement technology leader. The stock closed down 9.7% and was down more than 12% during the session. If there was a catalyst for the sell-off, there appeared to be two possibilities. First, the controversy around the company's new $1.3 billion campus in North Scottsdale, Arizona, w...
Axon Enterprise (NASDAQ: AXON) hit a 18-month-low on Tuesday, though there wasn't any obvious news out on the law enforcement technology leader. The stock closed down 9.7% and was down more than 12% during the session. If there was a catalyst for the sell-off, there appeared to be two possibilities. First, the controversy around the company's new $1.3 billion campus in North Scottsdale, Arizona, which will include its global headquarters, manufacturing facilities, 1,200 residential units, a hotel, and a commercial space on 76 acres is coming to a head. The other was Axon Week, its industry conference that started yesterday. Let's look at the HQ first. Continue reading
Russia Ferries 175 Russian Nuclear Scientists Out Of Iran Via Land Border With Armenia Russia has announced that it has successfully evacuated a last main group of Russian workers from Iran's Bushehr Nuclear Power Plant (NPP), which has been hit several times by US-Israeli strikes throughout the over one-month long war. A group of 175 Russian employees of Rosatom Atomic Energy Corporation were eva...
Russia Ferries 175 Russian Nuclear Scientists Out Of Iran Via Land Border With Armenia Russia has announced that it has successfully evacuated a last main group of Russian workers from Iran's Bushehr Nuclear Power Plant (NPP), which has been hit several times by US-Israeli strikes throughout the over one-month long war. A group of 175 Russian employees of Rosatom Atomic Energy Corporation were evacuated via land route through northern Iran , before taking a flight out of the Armenian capital of Yerevan to Moscow. Anadolu Agency According to TASS , "Earlier, Alexey Likhachev, director general of Russia’s Rosatom Atomic Energy Corporation, said that evacuation buses left the Bushehr facility about 20 minutes after a US strike hit the area on Saturday, and headed for the Iran-Armenia border ." Moscow had requested that the US impose a ceasefire for the site while the Russian staff were evacuated . They were then driven to the Norduz-Agarak border crossing (a very long overland route). Already several rounds of Russians at Iran's nuclear facilities were taken out of the country. Russia's foreign ministry thanked Armenian authorities "for their kind attitude and quick handling of exit procedures" for Rosatom personnel. Apparently some key Russian personnel have agreed to stay at the facility. "Some of Rosatom’s personnel expressed readiness to continue working in Iran, Rosatom's Likhachev had said on Sunday. The first power unit of the Bushehr NPP remains operational, Rosatom has also said. As for the requested local ceasefire for the site, it's unclear whether or not that was ever enacted. Israel has shown more of a penchant for hitting nuclear facilities in Iran of late. Meanwhile, IAEA Director General Rafael Grossi has also urged "maximum restraint" during the conflict in order to prevent the risk of a nuclear accident. Just like war in Ukraine has threatened nuclear power sites, so has the Iran conflict raised concerns over nuclear fallout and radiation - in the ins...
nmlfd/iStock via Getty Images Memory chip maker SK Hynix ( HXSCL ) stock price jumped about 15% on the South Korean stock exchange on Wednesday after rival Samsung Electronics ( SSNLF ) projected record‑breaking Q1 profit, reinforcing expectations of an AI-led upcycle in memory chips. Investor sentiment toward the entire memory sector strengthened as Samsung’s outlook signaled tight supply and ris...
nmlfd/iStock via Getty Images Memory chip maker SK Hynix ( HXSCL ) stock price jumped about 15% on the South Korean stock exchange on Wednesday after rival Samsung Electronics ( SSNLF ) projected record‑breaking Q1 profit, reinforcing expectations of an AI-led upcycle in memory chips. Investor sentiment toward the entire memory sector strengthened as Samsung’s outlook signaled tight supply and rising prices for DRAM and NAND chips, key components in AI data centers. Korea Investment & Securities raised its FY operating profit estimate for SK Hynix by 28%, citing stronger-than-expected pricing trends, with projections now more than quadruple 2025 levels. SK Hynix ( HXSCL ), the world’s second-largest memory chipmaker, is scheduled to report its Q1 results later this month, with markets now expecting similarly strong performance. More on SK Hynix, Samsung Electronics Samsung Brings AI And Hardware Refinements To S26 Samsung Electronics Co., Ltd. (SSNLF) Q4 2025 Earnings Call Transcript Samsung Electronics Co., Ltd. 2025 Q4 - Results - Earnings Call Presentation Samsung Electronics projects eightfold profit jump driven by AI chips Memory spot price decline not likely anything more than a correction, GF says
(RTTNews) - The independent directors of Intuitive Investments Group or IIG, and Acceler8 Ventures plc or AC8, announced they have reached agreement in principle on the terms of a possible all-share offer by AC8 for the entire issued and to be issued ordinary share capital of IIG
(RTTNews) - The independent directors of Intuitive Investments Group or IIG, and Acceler8 Ventures plc or AC8, announced they have reached agreement in principle on the terms of a possible all-share offer by AC8 for the entire issued and to be issued ordinary share capital of IIG
Krot Studio/iStock via Getty Images Anthropic ( ANTHRO ) disclosed on Monday that their run-rate revenue has surpassed $30 billion (I appreciate that unlike most people in tech, they didn’t call it ARR). To contextualize how mind-boggling the growth is, Anthropic ended 2025 with an annual run rate of just $9 billion, which then shot to $19 billion by February. Basically, Anthropic seems to be addi...
Krot Studio/iStock via Getty Images Anthropic ( ANTHRO ) disclosed on Monday that their run-rate revenue has surpassed $30 billion (I appreciate that unlike most people in tech, they didn’t call it ARR). To contextualize how mind-boggling the growth is, Anthropic ended 2025 with an annual run rate of just $9 billion, which then shot to $19 billion by February. Basically, Anthropic seems to be adding its entire 2025 run-rate revenue every month now! The meteoric growth starts to make some sense when you see how some of its customers are behaving. The Information reported on Monday that Meta ( META ) (likely one of Anthropic’s major customers) is literally running an internal “competition” among its employees to see who can spend the highest number of tokens. Meta employees apparently used 60 trillion tokens in just the last 30 days. To understand the scale of such token consumption, The Information helpfully mentioned that all the books that were ever published are only estimated to be worth ~20 trillion tokens! You can probably see now how Anthropic is growing their revenue so fast when their end customers are essentially “bragging” about using as many tokens as possible. Given how fast Anthropic is growing their revenue and how willing its customers seem to be to spend more tokens, does it mean Anthropic is also making gross profit hand over fist in inference? That may sound like a rhetorical question, but it is actually surprisingly a more difficult question to answer. I have mentioned AI’s speculative economics before, but I have a newfound appreciation for the uncertainty in AI economics after reading Anjali Shrivastava’s couple of pieces on this topic. Anjali once left a couple of thoughtful replies to my tweets which made me follow her on X. I then came across her article “A token is not a fixed unit of cost”. Unfortunately, I am one of those guys who always have at least 50 tabs open on his PC, and Anjali’s piece ended up in that graveyard. Thankfully, one of...