Squawk Box Europe Express

Nvidia notches another stellar quarter with revenue soaring by 85 per cent to more than $80bn. The chip giant has also announced the same amount in share buy-backs. CEO Jensen Huang tells our colleagues Stateside that demand in the new era of A.I. is ‘sky-high’. SpaceX files its prospectus ahead of what will be the biggest listing of all time on Wall Street. The company is eyeing future data centres to be built in space and a million-resident colony on Mars. In further IPO news, OpenAI is also reportedly aiming at a listing as soon as next week in what could be a trillion-dollar offering. Stakeholder Softbank sees shares soar in the Asian session as a result.
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Fixed income continues to sell off across Europe which focuses investors’ minds on UK April inflation. Crude prices slip on news that several tankers were able to exit the Strait of Hormuz. There are mixed messages from Washington with U.S. President Trump warning of renewed strikes on Iran but Vice-President JD Vance claiming progress was being made in talks with Tehran. In tech news, Google unveils its latest A.I. model in a bid to keep pace with competitors but today’s attention turns to Nvidia which is expected to post a near-80 per cent boost in revenues when it reports after the bell today.
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We are live in Paris at the G7 finance ministers’ meeting where European Commissioner Valdis Dombrovskis tells us that Europe is facing a stagflationary shock amid the energy crisis while French finance minister Roland Lescure says lawmakers need to work to reassure bond markets. Crude prices fall slightly after U.S. President Trump says he postponed fresh strikes on Iran, citing diplomatic progress on ending the conflict with Iran. Elon Musk loses his case against OpenAI after jurors ruled the Tesla CEO had filed his suit too late to proceed. Musk had claimed the ChatGPT maker had violated an agreement to only run the AI start-up as a charitable non-profit organisation.
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Bond markets around the world spike with the U.S. 10-year Treasury yield hitting its highest level in 15 months as inflation concerns persist. We are live in Paris where G7 finance ministers and central bank governors are meeting with the global sell-off set to dominate discussions. Crude oil prices rise once again after U.S. President Donald Trump warns Iran ‘the clock is ticking’ over peace talks. We speak to Ryanair CFO Neil Sorahan who says that despite rising jet fuel costs the airline is well placed to avoid any dramatic summer travel scenarios.
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President Trump and President Xi conclude their two-day summit in Beijing with U.S. officials touting deals aimed at maintaining the two nations’ trade truce. In the UK, Greater Manchester mayor Andy Burnham sets his sights on No.10 after the resignation of Health Secretary Wes Streeting. Sterling suffers its biggest drop in more than 3 months with gilts also set for losses. U.S. deep-learning A.I. company Cerebras shares soar on its Wall Street debut which launches a slew of A.I. companies’ IPOs due later this year.
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