Top Stories This Morning: Oil Prices Fall Following Trump's Statement; Amazon Shows Interest in Decart

Oil prices are falling following Donald Trump’s statement that Russia and Ukraine have agreed to cease mutual attacks on energy facilities, as well as expectations of an increase in Russian diesel supplies to the global market. Amazon is in talks to acquire the AI startup Decart for approximately $7 billion. Read about these and other topics in our roundup of key events as of the morning of October 12.

Oil prices are falling amid expectations of increased supply following Donald Trump’s statement calling for an end to mutual strikes by Russia and Ukraine on energy facilities, according to CNBC. December Brent futures fell 1.3% to $103.3 per barrel, while November WTI futures dropped 1.7% to $90.3.

On October 11, Trump announced that Russia and Ukraine had agreed to halt attacks on energy infrastructure. Russia has not yet confirmed Trump’s statement. Ukrainian President Vladimir Zelenskyy said that Ukraine would agree to a ceasefire if Russia did the same.

Two days earlier, Trump also announced an agreement with Russia to supply Russian diesel fuel to the global market.

Another factor contributing to the decline in oil prices was Iran’s appeal to Saudi Arabia to facilitate dialogue with the Houthis. At the same time, risks to supplies remain due to the conflict between the U.S. and Iran, Houthi attacks, and Hurricane Isaias, which is approaching the U.S. coast, the TV channel notes.

TikTok CEO Shou Zi Chu expects major scientific breakthroughs driven by artificial intelligence in the next two to three years, according to CNBC. He said that AI could accelerate discoveries in physics, biotechnology, chemistry, and materials science. TikTok’s parent company, the Chinese firm ByteDance, is already developing its own AI models for scientific research, including drug development.

Chu believes that the short-term capabilities of AI are overestimated, while the technology’s long-term potential is underestimated. At the same time, he warned of growing cyber threats, particularly those associated with autonomous AI agents, to which users may grant overly broad permissions. According to him, the development of AI also significantly reduces the cost of fraudulent attacks.

Trump said he is considering joining Saudi Arabia’s military operation against the Iran-backed Houthis in Yemen, according to CNBC. According to MS NOW, as cited by the network, Riyadh requested urgent military assistance from the U.S. following missile strikes on King Khalid International Airport. The attack on October 10 killed 12 people and injured more than 300 others.

The Houthis have warned airlines of the dangers of using Saudi airports and airspace. The group is also attempting to restrict the movement of oil tankers through the Bab el-Mandeb Strait—a vital route in the Red Sea. U.S. intervention could open a new front in the war with Iran that began on February 28, the TV channel notes. The United Kingdom is also considering additional support for Saudi Arabia, but has so far ruled out participation in offensive operations.

Amazon is in talks to acquire the U.S. AI startup Decart for approximately $7 billion, according to The Wall Street Journal, citing sources. The company develops software that allows developers to switch between different AI chips, as well as the Lucy and Oasis models for generating 3D virtual worlds. The deal could be finalized in the near future.

Founded in 2023 by three Israeli engineers, Decart has raised more than $400 million from investors, including Sequoia Capital and Benchmark. In May, the startup was valued at nearly $4 billion. The acquisition could strengthen Amazon’s position in the AI infrastructure market, where the company is developing its own Trainium3 chips in competition with Nvidia, the newspaper notes.

Large-scale investments in artificial intelligence infrastructure are supporting global economic growth at a rate of about 3%, despite power outages, IMF Managing Director Kristalina Georgieva said at the annual meetings of the IMF and the World Bank in Bangkok.

According to her, the investment boom in the AI sector could accelerate economic growth in developed Asian countries by 0.5–1 percentage point and in developing Asian economies by 0.2–0.8 percentage points. Countries that supply equipment for AI infrastructure, including Thailand, stand to benefit the most, the IMF chief noted.

— The Tokyo Stock Exchange is closed for the holidays.

— Hong Kong's Hang Seng Index remained virtually unchanged, while mainland China's CSI 300 Index fell 0.2%.

— In South Korea, the KOSPI fell 2.3%, and the KOSDAQ fell 4%.

— Australia's S&P/ASX 200 rose 0.8%.

— Futures on the Nasdaq 100 and the Dow Jones Industrial Average rose 0.4%, while those on the S&P 500 rose 0.3%.

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