Victoria Craig hosts this FT News Briefing covering major developments in geopolitics and financial markets on June 15th.

The episode features insights from Leila Abboud, FT's Paris bureau chief reporting from the G7 summit in Évian-les-Bains, and Eric Platt, US investment editor analyzing the AI investment boom.

Key topics include the US-Iran ceasefire deal reopening the Strait of Hormuz, SpaceX's record-breaking IPO performance, and the reshuffled G7 summit agenda focusing on Middle East conflicts.

US-Iran Deal Reopens Critical Oil Shipping Lane

Global oil prices dropped 4% to $84 per barrel after the US and Iran announced a deal to extend their ceasefire and reopen the Strait of Hormuz without tolls.

Before the conflict, nearly a fifth of the world's daily crude supplies passed through the strait, making its reopening crucial for easing global supply shortages.

Both sides will meet in Switzerland on Friday to officially sign the truce, with Trump pledging immediate removal of the US naval blockade on Iranian ports.

G7 Summit Reshuffled Around Middle East Crisis

French organizers "tore up the schedule" to focus almost a full day on the Middle East war and its economic consequences - Leila Abboud.

Trump scheduled bilateral meetings with leaders of Egypt, Qatar, and UAE - key regional players in mediating or being affected by the conflict.

Ukraine will get a separate session with Volodymyr Zelensky attending, while originally planned topics were compressed into "a couple of hours."

"There will be an element of winging it at the summit because a temporary peace deal between the US and Iran will obviously overshadow anything else" - Leila Abboud.

SpaceX IPO Signals AI Investment Euphoria

SpaceX shares soared nearly 20% in their stock market debut, making founder Elon Musk a trillionaire in the biggest IPO of all time.

"It is a great barometer of the interest and euphoria that we're seeing around AI" as SpaceX represents a bet on XAI and AI tool adoption - Eric Platt.

Investors poured over $100 billion into AI deals, including a $35 billion debt financing for Anthropic secured in the same week.

Anthropic and OpenAI have already filed to go public, with strong reception indicating "fervent demand remains" from both retail and institutional investors.

Market Optimism Despite Geopolitical Tensions

AI companies are "already generating tens of billions of dollars of revenues," making this boom different from the dot-com era according to bankers.

Enterprise technology companies facing AI disruption are struggling, creating challenges for private equity exits that relied heavily on these buyouts.

"If you're debating going, go now, finance yourself because you don't know if markets will turn" - banker advice to clients amid geopolitical uncertainty.

High equity issuance levels, where companies sell more stock than they buy back, occasionally signal market tops and are occurring right now.