Top stories for the morning: US rejects Iran's peace terms, Cerebras raises IPO valuation

The U.S. has rejected Iran's response to settle the 10-week war, calling it "completely unacceptable". AI chip maker Cerebras is considering raising its IPO price range to $150-160 per share and increasing the size of the offering amid investor demand. On these and other topics - in our review of key events by the morning of Ma. 11.

The US has rejected Iran's response to settle the 10-week war, with US President Donald Trump calling it "totally unacceptable", CNBC reports.

The TV channel specified that Tehran insists on military reparations, removal of US sanctions against Iran and full control over the Strait of Hormuz. At the same time, the country is not ready to dismantle its nuclear program, offering only partial concessions.

Tensions persist and are weighing on markets as oil jumped nearly 5% to $105.99 a barrel, Iranian drone attacks in the Middle East region continue, and ship passage through the Strait of Hormuz remains restricted, the channel said.

ECB Vice President Luis de Guindos warned that the regulator should proceed with caution as the effect of the war with Iran on the economy has not yet fully manifested itself: inflation has already accelerated to 3% due to higher energy costs, while economic growth and business activity are beginning to deteriorate, reports the Financial Times.He added that both government bond yields and spreads between different countries could rise, leading to tighter monetary conditions even with ECB rates unchanged. "Tightening could come from the markets," he said.

Markets are waiting for a rate hike in June. However, the regulator itself is balancing between the risk of rushing and delay, given weak consumer sentiment and uncertainty surrounding the conflict in the Middle East and the situation in the Strait of Hormuz.

Nvidia's rival AI chip maker Cerebras is considering raising its IPO price range to $150-160 per share and increasing the size of the offering to 30 million securities amid strong investor demand, Reuters reports, citing sources familiar with the situation.

The company could raise about $4.8 billion in a top-tier offering, underscoring the ongoing boom in interest in artificial intelligence infrastructure, the agency points out. Cerebras' IPO could be the largest in the world to date, according to analyst firm Dealogic's forecasts for 2026.

Indian Prime Minister Narendra Modi urged citizens not to temporarily buy gold to reduce pressure on foreign exchange reserves: due to the war in the Middle East, energy prices are rising, imports are increasing and the rupee is weakening, Bloomberg reports.

Gold is a key part of culture and savings in India, so the effect of the measure is not obvious, but the market has already reacted: shares of jewelry companies fell by 6-11% in Mumbai trading, the agency points out.

Nintendo disappointed the market and lost about 10% of its capitalization after forecasting a decline in console and game sales: the company expects to sell 16.5 million Switch 2 and 60 million copies of games, Bloomberg writes.

The business is under pressure from rising memory prices, tariffs and weak demand, with game sales - a key source of profit - slowing. The company is already raising prices, and investors are waiting for new releases that could restore interest in the platform.

- Japan's broad Topix index was up 0.3 percent on Ma. 11, while the Nikkei 225 was down 0.3 percent.

- Hong Kong's Hang Seng Index fell 0.3 percent, while mainland China's CSI 300 Index rose 1.2 percent.

- In South Korea, the Kospi index was up 5%, while the Kosdaq was falling 0.4%.

- Australia's S&P/ASX 200 was down 0.6 percent.

- Futures on the S&P 500 were falling by 0.1%. Futures on Nasdaq Composite were almost unchanged. Exchange contracts on the Dow Jones Industrial Average were down 0.2%.

This article was AI-translated and verified by a human editor