5 things to know before the stock market opens on Tuesday

OpenAI CEO Sam Altman acknowledged in an interview with CNBC’s David Faber yesterday that “people are understandably nervous” about artificial intelligence. His comments came on the same day that Florida’s attorney general sued Altman and his company over product safety concerns. But that wasn’t the only AI headline on Monday.

I’ll summarize it below.

President Donald Trump told CNBC’s Eamonn Gervase yesterday that he “doesn’t care” if negotiations with Iran end, amid reports that Iran is canceling talks with the United States because of the Israeli attack in Lebanon. Trump also said in a phone interview that the talks were “taking too long” and “starting to get very boring.”

But late Monday, the president posted on Truth Social that negotiations with Iran “continue at a rapid pace.” President Trump also posted that he had a “very productive” phone conversation with Israeli Prime Minister Benjamin Netanyahu.

Oil prices soared yesterday, but Wall Street remained unfazed. All three major indexes reached new highs. Nvidia The stock soared 6% after announcing its entry into the PC chip business. Follow live market updates here.

Anthropic announced yesterday that it has confidentially filed a prospectus with regulators in preparation for an IPO, a significant step for the buzzy AI startup as it prepares to go public. Anthropic’s filing notably comes ahead of AI rival OpenAI, which CNBC reported last month was preparing to secretly file a draft of its own IPO prospectus.

Meanwhile, SpaceX said in a filing yesterday that it is setting aside 5% of its shares to be sold in a future IPO for “certain employees and persons.” Elon Musk’s company said in an amended filing that these individuals “will be selected based on the discretion of executive officers.”

The Trump administration reportedly plans to eliminate the Justice Department’s $1.8 billion Anti-Weaponization Fund. The controversial fund has come under intense scrutiny from lawmakers on both sides of the aisle as well as in the courtroom. A federal judge on Friday barred the Justice Department from taking any action to spend money from the fund while the case progresses.

Reports that the fund would be eliminated came after House Speaker Mike Johnson (R-Louisiana) met with President Trump at the White House. Senate Majority Leader John Thune (R) also told reporters yesterday that the Trump administration should “shut down itself.”

mcdonalds Yesterday, the latest plans for global growth were announced. Under its “McDonald’s > NEXT” plan, the fast food chain is focusing on four areas: restaurant design, food taste, consumer-driven innovation and customer service.

The chain is focusing on menu innovations, including improvements to its McCrispie chicken line, and is looking to improve its kitchen operations. This is McDonald’s first global growth plan since announcing its Accelerated the Arches plan at the end of 2020.

As CNBC’s Amelia Lucas points out, McDonald’s is trying to come out on top as restaurants struggle to attract fewer customers. It’s also trying to fend off competition from emerging chains like Raising Cane’s and 7 Brew Drive Thru Coffee. “In a world where any restaurant is just a swipe away, there is no such thing as second place,” McDonald’s CEO Chris Kempczinski wrote in a memo.

Prediction market platform Karshi saw trading volume increase by more than 2,500% year-on-year in May to a record $17 billion. Here’s how it rose:

— CNBC’s Annie Palmer, Ashley Caputo, Samantha Subin, Yun Li, Jennifer Elias, Jordan Nove, Katie Tarsoff, Chris Yudaily, Soda Bymiya, Kevin Browninger, Spencer Kimball, Sam Meredith, Yi Ling Xiang, Laura Kolodny, Dan Mangan, Amelia Lucas and Davis Giangiulio contributed to this report.

CJ Haddad helped produce this newsletter. Josephine Rozzelle edited this version.

Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.