'Could Resonate Globally': Korea Sparks Market Chaos With 'AI Tax' Threat

Futures, Gold Slide, Oil Jumps After Iran Peace Talks Delayed With US markets closed for the Juneteenth holiday, global stocks are ending a strong week on a cautious note as the recent relief over an interim peace deal between the US and Iran gave way to a focus on the challenges of securing a lasting agreement. As of 8:30am, S&P 500 futures slid 0.4% after the benchmark posted its best week since the end of May (despite the drop, the S&P is still up on the week, and up 11 of the past 12). Europe’s Stoxx...

662 Billion Reasons To Worry: Moody's Raises AI Data-Center Funding Fears As Apollo Shops Huge Anthropic Debt Deal Unless you have lived under a rock for the last year (or month), you will know that the explosive growth of artificial intelligence is fueling a massive infrastructure buildout. In a chart book published nearly simultaneously with Moody’s report, Apollo Global Management chief economist Torsten Slok worked to put the enormity of data center spending into perspective. With total capital expenditure on data centers estimated at roughly $646 billion, or about 2% of U.S. GDP, Slok noted that is...

Iran Rejects Direct US Talks Amid Escalation As Israel Attacks Key Petrochemical Plant At South Pars Gas Field Summary:  A Sunday night Axios report on a US-proposed 45-day ceasefire has by Monday morning been rejected by Iran: diplomatic talks are "absolutely incompatible with ultimatums, crimes, and threats to commit war crimes," the Foreign Ministry said. Israel strikes large petrochemical plant at South Pars, which is responsible for half of the country’s petrochemical production. There's been another extension of what had been a 10-day deadline for Iran to open the Strait of Hormuz - a...