A car carrying a replica missile and statues of Iran’s new supreme leader Mojtaba Khamenei (right), late supreme leader Ruhollah Jomeini (left), and Ali Khamenei (center) during a rally to commemorate the death of Imam Reza on August 12, 2026 in Tehran, Iran.
Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
Chinese strategist Sun Tzu said, “The supreme art of war is to subdue the enemy without fighting.”
US President Donald Trump seems different, threatening to fight everyone at the same time. President Trump wants to liberalize the Strait of Hormuz, but has warned that Oman, which borders the vital waterway, could also face military action.
What you need to know today
The conflict between the United States and Iran is entering its sixth month, and despite some agreements and promises to start and stop negotiations, the war in the Middle East is now threatening to resume and involve more countries.
On Monday, US President Donald Trump threatened to “bomb” Oman if the Gulf state “got in the way”. Oman is reportedly working with Iran on a plan to route ships through the Strait of Hormuz.
Asked again about Oman, President Trump said the longtime U.S. strategic ally “hasn’t been doing very well.”
The statement came as a cease-fire agreement reached between Washington and the Iranian government in June expired in the United States on Monday, with neither side indicating any intention to extend the deal.
Asked if he would seek an extension to the temporary truce, Trump said “no,” but a senior Iranian official told Reuters that if diplomacy with the United States fails, Iran will turn to aggression rather than defense.
The market was predictably spooked by this development, with oil prices rising again. International benchmark Brent crude oil futures rose 2.7% on Monday to settle at $90.87, while U.S. West Texas Intermediate futures rose 2.6% to close at $84.50 per barrel. Oil rose in early Asian trading on Tuesday.
All three major U.S. indexes also fell, with the broader market S&P500 The Nasdaq Composite Index fell 0.32% and the Dow Jones Industrial Average fell 0.51%. Asian markets opened mixed on Tuesday.
Technology transactions and litigation
Semiconductor giant Nvidia will provide up to $105 billion in financing for OpenAI’s new artificial intelligence data center in Ohio, a securities filing revealed on Monday.
This credit supports an initial 4.25 gigawatts of compute capacity with an optional 3.75 gigawatts. Nvidia will provide the computing, with capacity scheduled to come online in stages in 2028.
The deal is the latest in a series of financing moves to help NVIDIA build out sprawling AI data centers, despite concerns about circular funding in the AI industry.
Social media heavyweight Meta has moved from the boardroom to the courtroom and could face “astronomical” consequences, as the company faces a lawsuit in California following a series of allegations that it facilitated addictive behavior in teenagers and children.
Industry experts are calling it a “Big Tobacco” moment for social media, with meth as the centerpiece.
The term refers to the dramatic decline in tobacco companies’ power and influence in the 1990s, when tobacco companies were forced to pay billions of dollars for misleading the public about the safety and potential harms of their products.
And finally…
Disney’s new parks chief outlines investment strategy with superfans at the forefront
Disney Experience Chairman Thomas Mazloum made the announcement to 12,000 Disney Parks fans Saturday night during the division’s showcase in Anaheim, California.
On Saturday, Mazloum announced to some of Disney’s most ardent fans the restoration of the Yeti, the return of fan-favorite characters Dreamfinder and Figment to Epcot, Florida, and the complete renovation of Tomorrowland in California.
The deal signals where the company plans to focus its blockbuster Disney Experience division, which includes theme parks, cruise lines and consumer goods sales.
As Disney expands its reach, it will need to rely on its most loyal visitors and biggest spenders to counter macroeconomic uncertainty and challenging travel trends.
— Sarah Witten
