Good morning. AI optimism returns. Building a podcast empire is hard, just ask Alex Cooper. And kids are clamoring for the 21st century version of the tin can phone. Listen to the day’s top stories.

— Angela Cullen

Resurgent optimism around AI’s economic promise is eclipsing Iran war worries into the week’s end, with chipmakers doing the heavy lifting on the back of strong results from Intel and SAP. The conflict still looms: Washington is increasing pressure on Tehran to return to the negotiating table, but Donald Trump’s brash social media posts are getting in the way, officials say. Eight weeks in, Wendy Sherman—architect of the 2015 nuclear deal—warns the current situation is harder, riskier and strategically misjudged.

AI rivalry barrels on. China’s DeepSeek rolled out previews of its new flagship model, touting it as the most powerful open-source platform yet, a year after jolting Silicon Valley. Meanwhile, Washington is moving to block Chinese developers from leveraging US models in its first major response to claims China is piggybacking on American AI advances. And China is telling private tech firms, including some of the country’s AI pioneers, to reject capital of US origin in funding rounds without government approval, people familiar said. That sets up a tense backdrop for Trump’s visit to China next month, if the Iran war doesn’t delay it again.

The DOJ charged two Chinese nationals accused of running a major scam compound in Myanmar that targeted Americans with cryptocurrency schemes. Prosecutors say they oversaw operations at Shunda Park, where trafficked workers were forced to carry out so-called “pig butchering” operations—cultivating online relationships before steering victims into bogus crypto investments that siphoned large sums of money. Here’s how Southeast Asia became the epicenter of online fraud.

Trump vowed to investigate federal employees betting on prediction markets, amid concerns they may be using confidential information for financial gain. His comments came as the DOJ charged a US soldier with turning classified intel on Nicolas Maduro’s capture into a $400,000 windfall on Polymarket.

As Alex Cooper is quickly discovering, building a podcast empire is hard. A simmering feud with mega-influencer Alix Earle is just part of the strain as she grapples with concerns about show launches, staff turnover and complaints about her husband Matt Kaplan’s behavior. Stephen Dubner, the host of Freakonomics Radio, offers a counterpoint: only pursue a wider slate of programming if you have solid show ideas.

Photographer: Dimas Ardian/Bloomberg

Bloomberg.com subscribers are invited to nominate candidates for the inaugural VivaTech x Bloomberg Rising Star Award, to be presented in Paris on June 18. Chosen by the Bloomberg subscriber community, the Rising Star Award honors an emerging founder, technologist, academic or creator whose work is already demonstrating meaningful early impact. It celebrates individuals whose ideas, innovation and leadership are helping shape the future of technology. Submit a nomination here.

Deep Dive: Buyer’s Market With Few Buyers

Photographer: Kaylee Greenlee/Bloomberg

Higher mortgage rates, uncertainty from the Iran war and uneven supply are forcing house hunters to sit out what should be the US’s busiest home-selling season.

• While brokers have reported some increased activity in recent weeks as mortgage rates have stabilized, the tough start to the season suggests a long-awaited housing rebound is unlikely to materialize.
• The few winners are at the high end, where buyers are less sensitive to inflation and affordability constraints—another sign of how the K-shaped economy is deepening even as Trump promises to make homeownership more attainable.
• It’s not just the war causing turmoil. The rapid adoption of artificial intelligence has exacerbated anxieties around employment in an already shaky labor market. And surging gas prices are hitting the wallets of people looking for homes in affordable car-centric areas.
• Demand is still strong in markets where wealth is concentrated and cash buyers are unfazed by higher borrowing costs. But, for people who need to both buy and sell houses, the dynamic is trickier.

The Big Take

Photographer: Philip Cheung for Bloomberg Businessweek

United Airlines CEO Scott Kirby wants to run “the unequivocal best airline in history.” Will merger talk, spiking fuel prices and turf wars get in the way?

Big Take Podcast

What Scares Anthropic Most About Mythos

Opinion

Photographer: Win McNamee/Getty Images North America

Project Glasswing is exactly the kind of public-spirited process that one would hope for from a responsible AI lab, which makes it all the more puzzling that the administration is trying to designate Anthropic a national-security threat, write Bloomberg’s Editors. Many things are uncertain about the AI revolution—all the more reason for the government and the industry to get on the same page.

More Opinions

Parmy Olson

Musk Is Chasing the Smart AI Money With a $60 Billion Deal

Conor Sen

The AI Job Apocalypse Is Being Delayed

Liam Denning

The Oil Futures Market Is Lying to Us

Play Alphadots!

Our daily word puzzle with a plot twist.

Today’s clue is: Entities with municipal bonds

Play now!

Before You Go

Source: Tin Can

Back to the future. Remember when the landline was your social network? Well, it’s making a comeback in the form of Tin Can, a $100 Wi-Fi-enabled device that’s becoming a hit with kids and parents seeking an antidote to their constant screen time.

A Couple More

There’s Never Been a Better Time to Invest in Rare Bourbon

The Humble Bean Gets a High-End Glow-Up

.

Coming soon: Get the AI Today newsletter—chronicling the disruptions and threats of AI on businesses, workers, governments and economies with analysis from Bloomberg’s global newsroom.

More From Bloomberg

Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too:

• Markets Daily for what’s moving in stocks, bonds, FX and commodities
• Breaking News Alerts for the biggest stories from around the world, delivered to your inbox as they happen
• Supply Lines for daily insights into supply chains and global trade
• FOIA Files for Jason Leopold’s weekly newsletter uncovering government documents never seen before

Explore all newsletters at Bloomberg.com.

We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here.

Follow Us

You received this message because you are subscribed to Bloomberg’s Morning Briefing Americas newsletter. If a friend forwarded you this message, sign up here to get it in your inbox.

|