Renewed Middle East tensions between the U.S. and Iran have sent oil futures climbing, with U.S. crude and Brent benchmarks both seeing significant gains. The critical Strait of Hormuz has been affected by the ongoing military confrontations. Meanwhile, the artificial intelligence sector continues its rapid growth, with executives predicting “almost unlimited demand,” yet workers are advocating for a more equitable distribution of AI-generated wealth.
Middle East Tensions Flare as US and Iran Trade Strikes
Key Points
- The U.S. and Iran continue to launch military strikes.
- The status of the critical Strait of Hormuz remains in question.
- Oil futures climb, while stock futures are down.
- Execs see "almost unlimited demand" for AI.
- Workers want a way to share out AI wealth.
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.
The tech space continues to buzz: From SK Hynix's U.S. listing to AI executives predicting that demand will be "almost unlimited," and workers saying that AI wealth should be more equitably shared.
But all that has been eclipsed by renewed tensions in the Middle East, which sent oil prices higher once again as the U.S. and Iran engage in military confrontation.
A digital map created by the Hybrid Intelligence department of Helmut Schmidt University shows points of conflict and disruptions in the Strait of Hormuz in April, including the downing of a U.S. F-15E Strike eagle airplane at the launch of the Resilia Innohub innovation hub on May 27, 2026 in Berlin, Germany.
Sean Gallup | Getty Images
What you need to know today
After stating that talks with Tehran would continue but the ceasefire was over, the U.S. launched strikes on Iran this weekend, while Iran retaliated by hitting American bases across neighboring countries.
These strikes have once again disrupted shipments via the Strait of Hormuz. Iran's Islamic Revolutionary Guard claimed the critical waterway was closed, but the U.S. Central Command, which oversees Middle East operations, stated it remained open.
The developments signaled continued disruption to energy supplies, sending oil futures higher. U.S. crude oil futures were last up 4.03% at $74.31 per barrel and Brent futures, the international benchmark, traded 3.89% higher at $78.97. U.S. stock futures were down, with all three major indexes in negative territory.
Away from oil, AI continues to dominate the tech narrative, though top executives and workers appear to have divergent views on its boom.
Several AI executives told CNBC that demand for AI remains strong.
Getty Images
Several AI executives told CNBC that demand for AI remains strong, with Pat Gelsinger, the former Intel CEO and now general partner at Playground Global, stating, "I somewhat think of AI demand as almost unlimited," with only energy posing a limiting factor.
However, workers perceive the sector differently, particularly in the U.S. A majority of U.S. employees now desire greater corporate accountability through an AI sovereign wealth fund, amid dissatisfaction over increasing tech layoffs despite higher overall corporate profits, according to a recent poll.
A survey by research firm Verasight found that as many as 69% of Americans now support "forcing" AI firms to transfer 50% of their stock to a public sovereign wealth fund.
And finally...
While Musk’s Neuralink drills into skulls, China’s BrainCo bets the future of brain tech is wearable
Elon Musk's Neuralink, known for its implants in people's heads to compensate for disabilities, has become the symbol of so-called brain-computer interfaces (BCI). However, some companies are betting that mass-market neural tech will not necessitate opening the skull.
While companies like China's StairMed and NeuroXess advance with implants, the non-invasive field is gaining traction, with entities such as the Sam Altman-backed Merge Labs and China's Gestala both pursuing ultrasound-based approaches.
BrainCo, recognized as one of the "six little dragons" of tech startups in Hangzhou, China, specializes in prosthetics and wearable devices utilizing BCI technology.
— Elaine Yu
