Trump Rules Out Iran Strike Before Midterms; OpenAI Targets $70B Revenue

Bloomberg has learned that OpenAI expects to reach or exceed $70 billion in annualized revenue by the end of the year, driven largely by growth in its enterprise business. The report points to the scale of the company's commercial ambitions as investors continue to debate the durability of the artificial-intelligence boom. Separately, President Donald Trump said in a social media post that the US would "not be attacking Iran" before November's midterm elections, citing what he said were "p" — a statement that removes, at least for now, one geopolitical risk factor from the market's near-term outlook. Markets also found support as the S&P 500 was set to bounce back from two days of losses. Oil prices fell, and worries over the sustainability of the artificial-intelligence investment boom receded, helping to steady sentiment after a stretch of volatility.