A woman walks past a billboard displaying Iran’s national flag at Enghelab Square in Tehran on June 14, 2026.
– | Afp | Getty Images
Hello, this is Leonie Kidd writing to you from London. Welcome to today’s edition of the Daily Open newsletter.
U.S. President Donald Trump had a number of reasons to celebrate this weekend — his 80th birthday on Sunday marked by a UFC fight on the White House lawn, and a peace agreement with Iran that has triggered a global relief rally for stocks.
But with the agreement only set to be formalized on Friday, is it too soon to celebrate?
What you need to know today
The U.S. and Iran have agreed to a peace deal that aims to bring an immediate and permanent termination to the conflict.
“The deal with the Islamic Republic of Iran is now complete,” Trump wrote in a post on Truth Social.
“I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.”
The peace agreement will also see Iran reaffirm its commitment not to procure or develop nuclear weapons. An immediate halt in hostilities across the region, including the strike between Israel and Hezbollah in Lebanon, is also part of the pact.
World leaders have welcomed the peace deal.
In a joint statement after the agreement was announced, the U.K., France, Germany and Italy commended it as “a moment of opportunity to restore regional stability and stabilise the global economy,” adding they were prepared to lift relevant sanctions in response to “clear, verifiable steps taken by Iran regarding its nuclear program.”
The agreement is set to be signed after the G7 meetings taking place this week. President Trump will travel to Evian-les-Bains to join G7 leaders and heads of state from the Middle East and Asia. The peace deal with Iran is then set to be signed in nearby Geneva on Friday.
The markets cheered the news. U.S. stock futures are spiking, while across Asia Pacific, the Nikkei is leading a relief rally. Meanwhile, oil prices tumbled, with WTI and Brent hitting the lowest levels since March 10.
There is a cloud on the horizon: President Trump told the New York Post that he has warned France is facing a fresh trade war with the U.S., calling on French President Emmanuel Macron to drop its digital tax on American tech companies, or the U.S. will “have no choice” but to hit French wines with 100% tariffs.
The CEOs and founders of some of the world’s biggest AI companies are due to join the G7 leaders at their summit this week.
Talks will be complicated by a directive from the U.S. government to Anthropic, instructing the AI giant to suspend its Fable 5 and Mythos 5 models to comply with export controls.
Anthropic abruptly disabled the models for all of its customers in order to ensure compliance, but said all of its other models will not be affected.
— Leonie Kidd
And finally…
A year after Meta tapped Alexandr Wang to build a new AI model, Zuckerberg has to sell it
A year after spending over $14 billion to bring in Alexandr Wang and a group of his top Scale AI engineers to revamp its artificial intelligence efforts, Meta is at least back on the map in AI, though it’s still far behind OpenAI, Anthropic and Google in the market.
Wang’s big accomplishment was the delivery of the Muse Spark AI model in April, marking Meta’s first jump into proprietary foundation models and away from a strict adherence to open source, or open weight as it’s more commonly called in AI. The group Wang leads — Meta Superintelligence Labs — was established to give the company some sizzle in the hottest corner of the tech industry.
— Jonthan Vanian, Julia Boorstin
