CNBC Daily Open: Iran deal hopes dim, while AI dazzles investors
Jensen Huang, chief executive officer of Nvidia Corp., speaks at the Nvidia GTC conference on the sidelines of Computex 2026 in Taipei, Taiwan, on Monday, June 1, 2026. Lam Yik Fei | Bloomberg | Getty ImagesHello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.U.S. President Donald Trump is apparently not bothered by "boring" negotiations with Iran falling apart, further clouding the outlook for a solution to the Mideast conflict and sending oil prices higher.Normally, a spike in oil prices rattles investors, but news in the tech space seems to have trumped geopolitical worries with benchmark U.S. indexes closing at fresh highs.What you need to know todayAs the world watches Iran-U.S. moves amid dimming hopes of a resolution to the Middle East conflict, President Donald Trump has told CNBC that he "doesn't care" if the talks fall apart.Trump appeared to shrug off the breakdown in negotiations, after Iran said it will stop exchanging messages with the U.S. and completely close the Strait of Hormuz in retaliation for ceasefire violations. That caused oil prices to spike, with the West Texas Intermediate futures rising more than 5% to close at $92.16 per barrel. International benchmark Brent crude advanced more than 4% to settle at $94.98 per barrel.Trump said the talks were starting to get "very boring." And markets appeared to agree, as optimism over tech prospects eclipsed geopolitical concerns.U.S. markets, which would normally be rattled by any escalation in tensions, climbed to new records, though Asia markets opened lower Tuesday. Nvidia CEO Jensen Huang unveiled a new PC processor made alongside Microsoft at the Computex conference in Taiwan on Monday. The RTX Spark superchip, which will hit the market in fall, would mark a "reinvention" of the PC, Huang suggested, adding that that agentic AI will run across all the new computers with the new chip. AI continued to make headlines, with Anthropic saying it had confidentially filed its IPO prospectus, setting up a potentially historic share sale for investors ready to jump into the AI trade.Anthropic has experienced explosive growth this year, announcing in May that its revenue run rate had ballooned to $47 billion, up from $10 billion in revenue in 2025. Last week, it closed a funding round at a $965 billion valuation. Adding to the AI optimism was Softbank CEO Masayoshi Son, who told CNBC's Arjun Kharpal that the AI revolution was 50 times bigger than the dot-com era in the 2000s.The company announced that it was investing 45 billion euros ($53 billion) to build AI infrastructure in France, as part of its 75-billion-euro program to build 5 gigawatts of AI data center capacity in the country.And finally...The stock market just did something eerily similar to the dot-com bubble top in 2000The S&P 500 closed at a record on the last trading day of May, but only a handful of stocks — focused mostly in the AI area — hit their own all-time highs.This strange occurrence echoes what happened at the top of the dot-com bubble 26 years ago.While Michael Hartnett at Bank of America said the "speculative price action" is likely not over yet, this occurrence is the latest sign that it is nearing. — Tobias Burns
