Nvidia Corp. Chief Executive Officer Jensen Huang speaks at the Nvidia GTC conference on the sidelines of Computex 2026 in Taipei, Taiwan, Monday, June 1, 2026.
Yifei Lin | Bloomberg | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
US President Donald Trump doesn’t seem concerned about the collapse of “boring” negotiations with Iran, further clouding prospects for a resolution to the Middle East conflict and rising oil prices.
A spike in oil prices usually spooks investors, but the tech industry news appears to have trumped geopolitical concerns as the U.S. benchmark index closed at an all-time high.
What you need to know today
As hopes for a resolution to the Middle East conflict dwindle and the world focuses on developments between Iran and the United States, President Donald Trump told CNBC that he is “not concerned” if talks break down.
President Trump appeared to dismiss the collapse of negotiations after Iran announced that it would stop exchanging messages with the United States and completely block the Strait of Hormuz in retaliation for violating the ceasefire.
Oil prices soared as a result, with West Texas Intermediate futures up more than 5% to close at $92.16 a barrel. Brent crude, the international benchmark, rose more than 4% to settle at $94.98 per barrel.
President Trump said talks were starting to get “very boring.” And the market seemed to agree, as optimism about the technology outlook overshadowed geopolitical concerns.
U.S. markets, which are usually rattled when tensions rise, rose to new records, but Asian markets opened lower on Tuesday.
Nvidia CEO Jensen Huang on Monday unveiled a new PC processor made in collaboration with Microsoft at the Computex conference in Taiwan.
The RTX Spark superchip hitting the market in the fall will mark a “reinvention” of the PC, Huang suggested, adding that agent AI will run on all new computers equipped with the new chip.
AI continues to make headlines, with Anthropic announcing that it has secretly filed its IPO prospectus and set up a potentially historic stock sale for investors ready to jump into AI trading.
Anthropic has experienced explosive growth this year, announcing in May that its revenue run rate had ballooned from $10 billion in revenue to $47 billion in 2025. Last week, the company closed a funding round at a valuation of $965 billion.
Adding to the AI optimism, SoftBank CEO Masayoshi Son told CNBC’s Arjun Karpal that the AI revolution is 50 times bigger than the dot-com era of the 2000s.
The company announced it will invest 45 billion euros ($53 billion) in building AI infrastructure in France as part of a 75 billion euro program to build 5 gigawatts of AI data center capacity in France.
And finally…
The stock market just did something eerily similar to the dotcom bubble top of 2000
The S&P 500 closed at an all-time high on the last trading day of May, but only a handful of stocks primarily focused on the AI sector set new highs.
This bizarre event mirrors what happened at the height of the dot-com bubble 26 years ago.
Bank of America’s Michael Hartnett said the “speculative price action” is likely not over yet, but this incident is the latest sign that it is coming.
— Tobias Burns
