complicate openai's transition from a nonprofit to a for-profit entity, looking out more now from tom mackenzieo's on the ground at the ai action summit over in paris. good morning, tom. the fact that altman turn this down, no thank you is what he said, is that a surprise? tom: not really, no. these two, musk and sam altman have been in the war, a feud over the direction of openai. don't forget that going back to 2015, the founding of openai, elon musk was one of the first investors. this was a plan they put together, sam altman and elong must work together to build out openai in the early stages, but since then, they have diverged dramatically because elon musk says the organization and start up under sam altman has moved so far away from its mission of providing safety focused ai open to the public and a nonprofit. openai pushes back on that characterization, of course. they are also in a legal battle or two. this complicates that effort by openai to shift from nonprofit to a multibillion-dollar profitable organization at a time when they are trying to raise funds and looking at a valuation o

for more on this we turn to tom mackenzie at that summit and with the new french finance minister, eric lema. tom: the minister of finance standing by for this conversation and we will start with that announcement from the prince president -- from the french president, around 109 billion euros of additional investment nce to build out ai data centers and infrastructure, to better position france. is this the french response to stargate in the u.s.? eric: we had started that a long time ago. it was always our policy to build nuclear power plants to provide clean energy and independent energy in france, stable and cheap. this plan is to finance more than 100 billion euros in data centers and around that, research teams with developers and scientists and we will increase our investments and -- tom: you are confident that this funding will be delivered and it will be enough? eric: there is no reason to stop here. [inaudible] the airline industry is booming in france and we want [inaudible] tom: we've had news today from president trump on tariffs in steel and aluminum. what should the europ

tom mackenzie is standing by. ther akin to stargate, about private sector commitments in france, tom. >> it is. if a fire had not been lit under the feet of policymakers in your prior to deepseek and stargate, it certainly has been in recent weeks. this is macron's response. currently have some from alphabet speaking. the commitment from macron around 113 billion u.s. dollars is in part an answer to stargate. it is also in part answer to the innovation now coming out of china and an attempt by france in europe to position itself to close the gap. macron has been clear, this is catch up for europe. yesterday say we need to invest, invest, invest. along with the 100 $18 billion u.s., also a general catalyst driving plans for about $150 billion in say it kaput to play in france, in europe alongside other investors to drive and build out infrastructure to layer is well on top of the industrial sector of europe. that is where they think the opportunity is. key questions around implementation and regulation and whether o

lizzy: tom mackenzie will be speaking to some of germany's most powerful business voices ahead of thelection. the germany election ceo briefing today at 1:00 a.m. london time. the white house tries to temper anger and shot at president trump's controversial proposal to take over the gaza strip. this is bloomberg. ♪ lizzy: to the middle east now, aides do donald trump are playing down his proposal to own gaza after he suggested the u.s. should take over and redevelop of the coastal palestinian territory without displacing his residents to neighboring egypt and jordan. the white house press secretary calls it an out-of-the-box idea. >> the president has not committed to putting boots on the ground in gaza. >> is the u.s. prepared to remove palestinians from gaza by force? >> the president is prepared to rebuild palestine for all people. >> why hasn't the president -- >> i think the president is good when you get is making deals and negotiating not to relet anything, because he wants to preserve that leverage in negotiations. lizzy: the announcement was criticized by countries including

tom: good morning, this is bloomberg "daybreak europe," in tom mackenzie in london. a trade war between the world's two largest economies. the u.s. imposes a 10% tariff on chinese imports. beijing responds with levies on coal, oil, lng and more. donald trump orders a one-month pause on tariffs for canada and mexico, as both nations pledge tougher measures on migration and drug trafficking. ubs reports net income well ahead of estimates. switzerland's biggest bank promising share buybacks worth up to $3 billion. we will bring the lives earnings from bnp paribas, dassault and infineon. tom: markets whipsawed by the tariff action. we are now in a trade war between the u.s. and china. were we ever out of one? tariffs increased in terms of imports of chinese goods into the u.s. market, and china responding swiftly with a detailed response. european futures pointing lower 0.1 percent, after losses of a little over 0.8% yesterday. mexico and canada spared at least for now. ftse 100 futures pointing to losses of 0.2%, s&p futures stateside after the losses yesterday for both

honda and nissan dropped their plan, we will get more details, honda and nissan and there i'm tom mackenzieinese markets return from the to a trade war. honda and nissan dropped plans for a tie up. alphabet slopes. amd slides. disappointing for dater centers. president trump proposes the u.s. takes over gaza relocating palestinians to other countries, provoking criticism and concern. we are looking at prices and that is the analysis with danny lee in terms of numbers, operating profit at an increase of 19, here is the redhead. it's sales increasing, 24% at the top and. it is a beat. supply of obesity drugs is crucial, obesity sales coming in below estimates. in 20 25 they are putting through a dividend of 11 .40, some key moments. estimates were for 20 billion but the redhead is around the sales, comfortably above estimates. we will speak with the ceo at 9:20 a.m. so cute in. nikkei reporting nissan will abandon combining with honda. where do things stand? danny: nissan planning to walk away, it would have formed a challenge and given the japanese competitiveness, honda rescuing nissan, cal

i am tom mackenzie in london. u.s.d the dollar surges after donald trump imposes tariffs on canada, mexico and china. who vowed to hit back with countermeasures. beijing is preparing a u.s. trade proposal to avoid further tariffs and the euro slides as donald trump says the eu is next so the clock is counting down to those u.s. tariffs kicking in. the signature is on the order. implementation will take place on tuesday. he will have a call with the leaders of canada and mexico. european stock futures taking a huge hit. it is risk off across these markets and the ftse 100 futures with a focus on miners and the impact with copper prices pointing lower by 1.3% although oil is higher. s&p futures down and nasdaq 100 futures set for a fall of almost 2.5% and let's take a look at the fx impact. and we will get to the mexican peso canadian dollar shortly. down 1.1%. there's a bid towards the back and. and the front end is being sold off on expectations they will have to keep rates on hold for longer. and wti currently jumping

interviews with guests and openai's head of policy as well so plenty of coverage from our own tom mackenziee ground in france. in the u.s. president's tariffs have fired up volatility in the currency trading market, leaving banks and hedge funds scrambling to re-get -- rebuild teams, something our reporter has been watching closely and alice joints me now. good morning. >> good morning. talk us through how the tariff announcements are impacting currency announcement. you have been in the weeds of these moves. >> it is a good time to be an fx trader. there's a lot of focus on fx markets given they tend to be the first to react to geopolitical news and we have seen the dollar reacting stronger. we have seen intraday moves in the canadian dollar and mexican peso so there has been more volatility and it is stacking up to be a busier time in terms of trading volumes and how hedge funds have been increasing their exposure in hope of some sizable moves and banks look to boost staffing. >> how does it compare with the return of carry trades in recent years, the blowup in the yen? >> you are right.