Daily brief
US inflation hit a three-year high above 4% in May, driven by surging energy prices amid rising tensions with Iran. President Trump commented on the figures, saying 'I love the inflation' while also claiming the US is taking millions of barrels of Iranian oil. Oil prices have been volatile, rising after Trump threatened to hit Iran 'very hard' but also falling on optimism about a potential US-Iran peace deal.
OpenAI is in talks to lease a massive 10-gigawatt data center in Ohio, with financial backing from Nvidia, as the company also faces a stalled $6 billion margin loan attempt from SoftBank.
Meta and Reliance Industries have signed their first AI data center deal in India, aiming to boost AI infrastructure and lifting Indian shares.
Amazon secured a $17.5 billion loan facility led by Citigroup, following a record bond sale in Canada, as part of increased spending on AI infrastructure.
Trump threatened to end the trade deal with Mexico over drugs, and separately suggested he may not renew the trade deal with Mexico and Canada.