5 things to know before the stock market opens on Tuesday

Happy Tuesday. If you were watching “Squawk Box” this morning, you may have noticed a different background. The show is broadcast live from Washington, D.C., today, as tech executives descend on the nation’s capital to talk about artificial intelligence. See below for more details.

Stock futures are rising before the bell as Wall Street declines.

Here are five important things investors need to know to start their trading day.

President Donald Trump is scheduled to meet with technology leaders including Anthropic’s Dario Amodei. meta with mark zuckerberg of the alphabet Sundar Pichai at today’s luncheon. The gathering comes after a busy news day for AI companies.

Here’s the latest information:

According to CNBC’s Ashley Caputo, OpenAI has abandoned plans to release its next model because it doesn’t meet the company’s safety standards. Don’t miss CNBC’s interview with OpenAI CEO Sam Altman and CFO Sarah Friar, live from the OpenAI Annual Developer Conference in San Francisco today. Follow the live coverage of the event here. Sources also told CNBC that OpenAI had previously sought to invest in Hugging Face, a company that OpenAI agents hacked in July. Nvidia Meanwhile, Anthropic launched the Sonet 5.5 yesterday, its second model release since its CEO called for a slowdown in the industry amid safety concerns. Reuters reported last night that Anthropic warned in its IPO prospectus that its AI models could pose “catastrophic or existential risks to humanity.” AMD will acquire World Labs in a deal worth $8.2 billion. CNBC’s Kif Leswing writes that the AI ​​Institute, founded by industry pioneer Fei-Fei Li, is developing so-called world models that can simulate 3D environments.

President Trump announced yesterday that Mesabi Metallics plans to invest $15 billion to build a steel plant in Iowa. White House officials told CNBC that the facility will begin production in 2030 and will be the largest factory of its kind in U.S. history.

The White House announced that the first phase of the steel mill will produce approximately 7.5 million tons per year and support up to 6,000 construction jobs. Minnesota-based Mesabi told CNBC the plant will produce “100% American steel.”

As CNBC’s Kevin Bruninger points out, the deal comes ahead of November’s midterm elections, which are expected to focus on how voters view President Trump’s management of the economy. This also follows President Trump’s decision to impose tariffs on imported steel.

In less than a year Mongo DB CEO CJ Desai will leave Meta to serve as the company’s chief enterprise platform officer, reporting directly to Meta CEO Mark Zuckerberg.

Meta said in a press release that Desai will lead the new Meta Enterprise Platform for enterprises. The platform will focus on a suite of tools, including the new Muse agent and coding tools. This morning, Meta announced Muse for Small Business, a version of its recently launched AI agent.

Following the news of Desai’s departure, MongoDB stock fell 18.5% in yesterday’s trading, its biggest single-day decline since March. Interim CEO Dev Ittycheria will appear on CNBC’s “Squawk on the Street” today at 10 a.m. ET. Watch live on CNBC Pro or CNBC+.

alaska airlines is jumping into the race to capture high-end travelers. This morning, the airline announced a major overhaul of its premium cabin, introducing new suites and premium economy seats on both its Alaska and Hawaii aircraft.

The airlines, which merged in 2024 but operate as separate brands, are also working to open airport lounges to attract customers willing to pay for luxury travel. Alaska Airlines will open a new lounge at Seattle-Tacoma Airport, and Hawaiian Airlines plans to open a new lounge in Honolulu in 2028.

The announcement was made ahead of Alaska’s Investor Day in Seattle today. CEO Ben Minicucci will appear on CNBC’s “Squawk on the Street” at 10:20 a.m. ET.

former disney CEO Bob Chapek has remained largely silent about layoffs at the entertainment giant in 2022. But Chapek appeared on CNBC’s “Squawk Box” yesterday to discuss his tenure at Disney while on tour for his new revealing memoir.

—CNBC’s CJ Haddad, Ashley Capoot, Kate Rooney, Kif Leswing, Sawdah Bhaimiya, Liz Napolitano, Kevin Breuninger, Samantha Subin, Chris Eudaily, Isabel O’Brien, Leslie Josephs and Sarah Whitten contributed to this report.

Josephine Rozzelle edited this version.