Cautious markets, rising oil and the next phase of AI

Markets started the week on a cautious note as geopolitics, central bank meetings and rising oil prices kept risk appetite in check. European equities slipped, while US indices hovered near record highs, supported by big tech, despite a pause in the semiconductor rally. AI remained firmly in focus after OpenAI signalled a shift in its relationship with Microsoft. Outside of tech, energy markets drew attention as Shell announced a major acquisition to boost long‑term production. Bond yields edged higher in the US, as investors positioned ahead of the Fed, while commodities stayed volatile and Asian markets were mixed following the Bank of Japan’s decision to keep rates unchanged. Today we are joined by Carsten Menke, Head of Next Generation Research, for a discussion on AI, hyperscalers and the capex wave.(00:00) - Introduction: Roman Canziani, Head of Product & Investment Content (00:38) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (06:55) - AI, hyperscalers & the capex wave: Carsten Menke, Head of Next Generation (10:31) - Closing remarks: Roman Canziani, Head of Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.