AMD is acquiring World Labs, an AI startup founded by industry pioneer and researcher Fei-Fei Li, in an all-stock transaction valuing World Labs at about $8.2 billion. AMD CEO Lisa Su and World Labs co-founder and CEO Fei-Fei Li sit down with Bloomberg Tech’s Ed Ludlow to discuss why AMD is purchasing World Labs, the two companies’ shared vision for AI’s future encompassing all layers of the stack, and how the industry needs to come together for shared responsibility in developing a safe technology that benefits all of society.
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What does it actually take to bring a Rust Belt city back to life? Micron is building one of the largest semiconductor factories in US history in Syracuse, a city that experienced major job loss after companies including GE, Carrier and General Motors left the area. Rob Simpson of CenterState CEO explains what attracted Micron to the city, local business owner Darin Price talks about what the investment means on the ground, and Brookings economist Joseph Parilla makes the case that Syracuse could be a model for reindustrialization across America.
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

Bonds and stocks dropped after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, denting some of the optimism that lifted markets late last week. Oil rose and precious metals sold off.

The US and China detailed a plan to cut tariffs on about $30 billion of imports from each country, as the superpower rivals take steps to steady ties following a summit between leaders Donald Trump and Xi Jinping.

And Britain’s governing Labour Party gathers in Liverpool for its annual conference ahead of the budget next month.

Today’s guests: Martin Heydon, Irish, Agriculture Minister; Rain Newton-Smith, CBI, CEO.

Chapters:
00:00:00 – Daybreak Europe
00:01:16 – Iran Tensions Boost Oil
00:03:14 – Iran Says Won’t Soften Demands as Trump Rejects Hormuz Offer
00:05:20 – Bonds Drop With Stocks as Iran Tensions Boost Oil
00:10:53 – US, China Release Goods Lists for $30B Tariff Deal
00:14:34 – Spotlight on European CPI Figures for September
00:17:38 – OpenAI Pauses Training Most Capable Model After Sandbox Escape
00:21:16 – How EU Data Center Labels Impact Hyeperscalers
00:24:04 – US and China’s $30 Billion Tariff Deal
00:28:50 – Martin Heydon, Irish, Agriculture Minister
00:33:06 – Trump Says He’s ‘Very Seriously’ Looking at Diesel Export Ban
00:36:52 – Rain Newton-Smith, CBI, CEO
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

Global equities slid to a one-week low as surging oil prices and mounting bets on further Federal Reserve interest-rate hikes drove Treasury yields to multi-year highs.

Iranian officials have privately expressed pessimism about reaching a deal to end hostilities with Washington and reopen the Strait of Hormuz before US midterm elections in November, according to people familiar with the matter.

And UK Prime Minister Andy Burnham will set out his pitch for honest political debate as the antidote to populism at the UK Labour Party Conference, as he reveals his plans for taking on thorny issues, from Britain’s expensive social care system to its creaking water infrastructure.

Today guest: Sunaina Sinha Haldea, Raymond James, Private Capital Advisory Global Head.

Chapters:
00:00:00 – Daybreak Europe
00:06:56 – Oil Extends Gain in Iran Uncertainty
00:09:55 – Iran Officials Pessimistic About US Deal Before Midterms
00:11:54 – Andy Burnham Vows ‘Clear Vision’ to Tackle UK’s Thorniest Challenges
00:15:27 – OpenAI Holds Back Version of Astra AI Model
00:18:46 – OpenAI Scraps Release of New AI Model Over Safety Concerns
00:22:54 – Treasuries Selloff Deepens as Trump Spurns Iran’s Latest Offer
00:31:14 – Sunaina Sinha Haldea, Raymond James, Private Capital Advisory Global Head
00:38:56 – Europe’s LNG Inventories Lowest Ever for This Time of Year
00:43:27 – Trump Slams UK Move to Release Airbase Suspects
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America’s “Main Street Millionaires” comprise about three million private business owners who have amassed one of the country’s most concentrated pools of wealth. That’s according to a study conducted by Owen Zidar and Eric Zwick.

On this episode of the Odd Lots podcast, economists and authors of The Everywhere Millionaire: Who Is Really Rich in America and How They Got There, tell Tracy Alloway and Joe Weisenthal how “little guys” like beverage distributors, dentists and car wash owners have become millionaires hiding in plain sight.
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