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Left photo: Melissa Sue Gerrits/Getty Images. Right photo: JEFF KOWALSKY/AFP via Getty Images.

Michael Bloomberg and President Trump's 2020 campaigns have both secured 60-second advertising spots during the Super Bowl on Feb. 2 at a likely cost of at least $10 million each, Politico reports.

Why it matters: The buy highlights Bloomberg's massive spending power, as the billionaire continues to pump millions of his own money into his campaign. And it's just the start of what's likely to be a huge spending year for Trump.

  • Bloomberg has already spent $170 million on ads this election cycle, according to Advertising Analytics.
  • The Republican National Committee last week announced that it raised $463 million in 2019 and has nearly $200 million cash on hand.
  • The Super Bowl is just one day before the Iowa caucuses.

What we know: A campaign spokesperson says Bloomberg's ad's "biggest point is getting under [President] Trump's skin."

  • "The ad is part of Mike’s strategy of running a national campaign that focuses on states where the general election will be decided, parts of the country that are often overlooked," said Michael Frazier.
  • The Bloomberg campaign says the slot will be filled with a never-before-aired commercial.

Meanwhile, the Trump campaign says they're still working out the details of their Super Bowl ad, but that it will be texted to supporters days before the event.

Go deeper: Billionaires dominate 2020 ad spend

Go deeper

1 hour ago - World

Iran rejects nuclear talks with U.S., for now

Iranian Foreign Minister Javad Zarif at Iran/EU talks in 2015. Photo: Carlos Barria/POOL/AFP via Getty

A spokesman for Iran’s Foreign Ministry said on Sunday that conditions are not ripe for informal nuclear talks between Iran, the U.S. and other world powers.

Why it matters: The Biden administration had proposed the talks as part of its efforts to negotiate a path back to the 2015 nuclear deal. The White House expressed disappointment with Iran's response, but said it remained willing to engage with Tehran.

1 hour ago - Health

U.S. sets weekend records for daily COVID vaccinations

A driver waits to receive the Pfizer-BioNTech Covid-19 vaccine in Inglewood, California on Feb. 26. Photo: Eric Thayer/Bloomberg via Getty Images

Just over 2.4 million coronavirus vaccinations were reported to the CDC on Sunday, matching Saturday's record-high for inoculations as seen in Bloomberg's vaccine tracker.

Why it matters: Vaccinations are ramping up again after widespread delays caused by historic winter storms. Over 75 million vaccine doses have been administered thus far, with 7.5% of the population fully vaccinated and 15% having received at least one dose.

GOP Sen. Bill Cassidy: "We will lose" if we continue to idolize Trump

Sen. Bill Cassidy (R-La.) told CNN's "State of the Union" Sunday he does not believe that former President Trump will, or should, be the Republican nominee for president in 2024.

What he's saying: Cassidy pointed out that "over the last four years, [Republicans] lost the House of Representatives, the Senate and the presidency. That has not happened ... since Herbert Hoover."