US-Iran conduct tit-for-tat strikes, lifting crude benchmarks; DXY flat in holiday-thinned conditions - Newsquawk EU Market Open

The US reportedly used the promise of Nvidia AI chips to help secure a peace deal between Armenia and Azerbaijan. The deal involved expanded approval for chip purchases for an Armenian data center project, according to the Wall Street Journal. Nvidia's involvement in the deal highlights the role of advanced semiconductors in US diplomacy. The Firebird facility in Armenia, backed by Nvidia, is part of this strategy. Nvidia executives have acknowledged the role of chips in creating conditions for

The U.S. used the promise of Nvidia chips to help secure a peace deal between Armenia and Azerbaijan, according to the Wall Street Journal. The deal included a $5B data-center project in Armenia, packed with 70,000 Nvidia AI servers. Nvidia's CEO, Jensen Huang, advised President Trump on AI policy. The U.S. authorized export licenses for advanced Nvidia chips to Armenia as part of the agreement, aiming to deepen economic ties and bolster the country's tech industry.

Saudi Arabia and France signed 21 agreements worth billions, including a $7B entertainment complex and $5B framework for infrastructure projects. The Global Investment Summit aims to bring $29B in European capital to the Gulf by 2030. Deals involve Aramco, Ma'aden, and French firms like Alstom and Dassault Systemes, focusing on AI, energy, and infrastructure.

U.S. Energy Secretary Chris Wright visited Venezuela to advance energy agreements. Chevron may expand operations, and a deal for 17 oil fields with 65 billion barrels of reserves is progressing. Venezuela's National Assembly approved the agreement, but details remain uncertain. The developments could boost Venezuela's oil production and U.S. energy strategy.

US Energy Secretary Chris Wright will visit Venezuela to discuss Chevron's plans to expand operations. A recent US-Venezuela oil agreement grants the US a stake in Venezuelan oil fields, previously influenced by Chinese and Russian firms. The deal secures long-term energy supplies and aims to align Venezuela's economy with the Western Hemisphere. The oil fields hold an estimated 65 billion barrels of proven reserves, with total reserves exceeding double that amount. The agreement involves the Pe

US Energy Secretary Chris Wright will visit Venezuela, where Chevron plans to expand operations, according to Secretary of State Marco Rubio. The move aims to boost US investment in Venezuela's oil industry, following a deal with North American Blue Energy Partners (NABEP).