President Trump's economic assault on Iran has drawn a fraction of the attention devoted to his bombing campaign, even as senior U.S. officials believe it may ultimately do more damage to the regime in Tehran.
Why it matters: U.S. intelligence and open-source media reports point to a deepening economic crisis inside Iran, including gasoline shortages in one of the world's most oil-rich countries.
Nvidia appears poised to tighten its ties with OpenAI as it reportedly explores a deal to backstop financing for a massive data center to power the ChatGPT maker's ambitions.
Why it matters: The potential deal underscores the swift pace of the AI economy, but it also renews concerns that the increasingly "circular" nature of AI deals could create systemic financial risks.
Nvidia shares tumbled 4.5% in late morning trading.
President Trump told Axios on Monday that he decided to pause U.S. strikes on Iran in order to give negotiations another chance, but stressed that he could order a return to expanded military operations if diplomacy fails.
Why it matters: The current negotiations are focused on a new deal that would reopen the Strait of Hormuz and relaunch talks on a comprehensive nuclear deal.
Kuwait's government has signed a $16 billion crude oil pipeline deal with North American private equity firms Blackstone, Brookfield Asset Management, and KKR.
Why it matters: This comes amid attacks on Kuwait's energy infrastructure by Iran, in retaliation for U.S. strikes.
A small but growing number of Democrats are embracing their own version of "America First" in response to Donald Trump's ongoing war with Iran in partnership with Israel.
Why it matters: Trump's war is scrambling the politics of a slogan he once owned, fracturing the right even as some Democrats — including potential 2028 presidential candidates — embrace it.
The top U.S. military commander in the Middle East, Adm. Brad Cooper, recommended stopping the bombing campaign around the Strait of Hormuz because it has reached the limit of its effectiveness, according to two sources with knowledge of his position.
Why it matters: The recommendation by Cooper, the commander of the U.S. Military Central Command (CENTCOM), together with other advisers impacted President Trump's decision on Friday to pause U.S. strikes against Iran, thesources said.
