Thursday, August 13, 2026 — Iran says no progress on reviving the interim peace deal with the US, Hamas hails Tehran’s vow to keep the Strait of Hormuz closed until a regional ceasefire, and Putin ste

The Hormuz headline is the one to watch. If Iran actually tries to enforce a closure, crude spikes hard and fast. Right now it’s rhetoric, but the market has to price some tail risk. Putin on the Kurils is a deliberate poke at Tokyo. Japan protests, Russia shrugs. Adds another layer of tension in the Pacific that nobody needed. Nvidia everywhere today. Tepper’s largest holding isn’t Nvidia, Nvidia is recruiting Wall Street to fund $500B in AI infrastructure, and Anthropic is reportedly in talks to buy Nvidia-backed Decart AI for $6B. The Nvidia infrastructure funding story is interesting. They’re essentially syndicating the AI buildout. Smart move, but it means the balance sheet risk gets spread around. Bulls may not love the dilution angle. Anthropic paying $6B for Decart is a big number for an Nvidia-backed startup. Consolidation in AI is accelerating. The rich are getting richer and the model layer is thinning out. DeepSeek drops official V4 Pro. China is not sitting this one o

The Hormuz headline is the one to watch. If Iran actually tries to enforce a closure, crude spikes hard and fast. Right now it’s rhetoric, but the market has to price some tail risk.