Will France Be a Top European Hub for AI Infrastructure? | The Pulse 6/1
Speakers
Ozan Tarman
— Global Macro Vice Chair, Deutsche Bank
Peter Elstrom
— Senior Editor, Bloomberg Technology
Jasmine El-Gamal
— Founder and CEO, Averos Strategies
Summary
The episode covers AI-driven market optimism amid Nvidia's new PC chip and SoftBank's massive investment in French data centers. Geopolitical tensions in the Middle East and oil price uncertainty are also key themes, alongside discussions on Fed/BOE policy and the SpaceX IPO. The macro outlook remains mixed with AI as the dominant narrative.
- Nvidia announces a new chip targeting the PC market to compete with Intel.
- SoftBank plans up to €75 billion investment in AI data centers in France.
- AI rally continues to support equities despite oil rebound and geopolitical risks.
- Ozan Tarman from Deutsche Bank discusses Fed rate cut expectations and oil price dynamics.
- Middle East conflict remains unresolved with Iran controlling the Strait of Hormuz.
- SpaceX IPO could be the largest ever, with retail investors playing a key role.
- EasyJet rejects a takeover approach from Castlelake as opportunistic.
- HSBC deploys top leadership to revive its Hong Kong investment banking franchise.
Trade Ideas
USD/JPY will go higher
Ozan expects USD/JPY to move higher, supported by consensus hedge fund positioning and a view that the Bank of Japan may eventually hike, which would ease financing pressures. However, the thesis is muddled by conditional language around geopolitical calm and war scenarios.
Up Next
This Bloomberg Markets video, published June 01, 2026, features Ozan Tarman discussing USD/JPY. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Ozan Tarman · Tickers: USD/JPY