OpenAI and Broadcom have unveiled a custom AI accelerator chip codenamed 'Jalapeño' targeting large language model inference workloads. This deepens Broadcom's position as the premier custom silicon partner for hyperscalers, adding OpenAI to a roster that already includes Google's TPUs and Meta's MTIA.

The U.S. has conducted further strikes on Iran, escalating military tensions in the Middle East. This raises immediate risk-off pressure on equities, a flight to safe havens, and a sharp spike in oil and defense-related assets.

The US has struck Iran in retaliation for an attack on a cargo ship in the Strait of Hormuz, escalating tensions in one of the world's most critical oil shipping chokepoints. The move raises immediate risk of broader conflict that could disrupt roughly 20% of global oil supply transiting the strait, spiking energy prices and pressuring risk assets.