June 5 Financial Breakfast: Israel and Lebanon reach a ceasefire agreement, gold price remains near 4,470 waiting for nonfarm payroll data, oil price drops more than 3%

OpenAI is close to completing a fundraising round of up to 30 billions USD at a pre-money valuation of 1.25 trillions USD, with lead investments from United Arab Emirates investors and Coatue. OpenAI plans to finalize the financing by the end of next week and is simultaneously negotiating a business agreement to acquire additional computing power from the UAE. This funding round is positioned as a transitional solution ahead of an IPO. The news of this fundraising comes as U.S. tech stocks fell broadly, with the “Magnificent Seven” index dropping by 2.80%.