Squawk on the Street Fed Decision Day, Israel-Iran Conflict, OpenAI CEO: Meta Tried to Poach Staff With $100M Bonuses 6/18/25
Jun 18, 2025
Mike Santoli, CNBC's Senior Markets Commentator, dives into how markets are reacting to global tensions, particularly the Israel-Iran conflict, and its potential effects on the Federal Reserve's interest rate decisions. He discusses the fierce competition in the AI sector, spotlighting Meta's effort to lure talent from OpenAI with staggering bonuses. The conversation also touches on news about significant job cuts and recent market activity, including Amazon's AI implications and a major merger in the steel industry.
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Markets Brace for Fed and Conflict
- The markets remain cautious with the Fed rate decision and the Israel-Iran conflict ongoing.
- Speculation about U.S. involvement keeps markets calm until more substantial developments occur.
Meta's $100M Bonus Strategy
- Meta reportedly offered $100 million signing bonuses to OpenAI employees to poach talent.
- OpenAI CEO Sam Altman believes culture and mission matter more than big upfront money.
AI Will Shrink Amazon Workforce
- Amazon CEO Andy Jassy expects AI to reduce the company's workforce through efficiency gains.
- This reflects broader tech industry trends of workforce shrinkage due to automation.