Rising Oil Tensions, AI Agent Oversharing 10/12/26

OpenAI is working on a $30 billion funding round from Coatue and the UAE, among others, which would bring the company’s valuation up to $1.25 trillion before Anthropic’s imminent IPO. Elon Musk's ambitions for SpaceX include a merger with Tesla and a strategy for cell towers. President Trump reportedly asked Elon Musk to restore Ukraine’s access to Starshield, but Business school professor Christopher Marquis wants to reform MBA programs, and Moderna’s new vaccine data is good news for melanoma treatment. Plus, CNBC’s Steve Liesman shares more results from his latest All-America Economic Survey, including the approval ratings for President Trump and American sentiment around AI.

Ahead of Anthropic’s highly-anticipated IPO on the Nasdaq, Nasdaq CEO Adena Friedman discusses her exchange’s strategy to win listings in the AI IPO race. Tesla reported its latest financials as the board considers the details of a SpaceX-Tesla merger. CNBC’s Steve Liesman shares the results of his latest All-America Economic Survey: sentiment on the economy is about as gloomy as it was immediately after the pandemic. Plus, former Bridgewater CIO Rebecca Patterson has penned a book of investing wisdom for market savvy folks without personal investing expertise. In a wide-ranging conversation, she discusses AI’s weights and buoys for the larger economy, global market risks, and market liquidity.

SpaceX shares jumped after it reported surging revenue growth and Elon Musk floated a potential merger of the company with Tesla. Altimeter Capital’s Brad Gerstner says Musk needs to make sure a deal is fair for Tesla shareholders and expects at least a 30% premium to where the stock trades today. United Airlines slashed its profit outlook as fuel costs continue to bite. CEO Scott Kirby says airfares will have to go up in order for carriers to be profitable.

In Europe, it’s an autumn season of unrest. Council on Foreign Relations President Michael Froman discusses protests across France, Belgium, Italy, and other EU nations as politics, affordability, and upcoming elections collide for frustrated citizens. Froman also considers the path forward for the war in Ukraine, particularly after President Trump, Russian President Putin, and Chinese President Xi are considering a trilateral meeting about the conflict. OpenAI is reportedly aiming to accelerate fundraising before its own IPO and before Anthropic’s IPO, and Chinese tech giants Bytedance, Alibaba, and Tencent have placed massive chip orders from Nvidia. Plus, Director of Villanova’s Sports Law and Business Program Andrew Brandt is ready for the first NBA faceoffs of the season. The most anticipated game will tip off at Madison Square Garden, where LeBron James will make his season debut at the Knicks and 76ers match-up.

From the White House, National Economic Council Director Kevin Hassett emphasizes consumer sentiment as key to interpreting economic and inflation data. As national cases of the measles rise, former FDA Commissioner Dr. Scott Gottlieb discusses public health and the FDA’s launch of its Rare Disease Framework Initiative for drug development. Russian President Putin has floated a summit between himself, Chinese President Xi, and President Trump to discuss ending the war in Ukraine. Ukrainian President Zelenskyy, reportedly not included in that summit, has suggested that the U.S. government’s actions have hindered Ukraine’s war defense, and Treasury Secretary Scott Bessent has fired back at President Zelenskyy’s accusations. Plus, the Elizabeth Holmes documentary scored the largest open for a non-music documentary in two decades, Anthropic has announced an intention to donate 5% of its shares to a “public benefit fund,” and Elon Musk has pledged a SpaceX share to every child in America.