According to Al Jazeera, Iran's chief negotiator, Mohammad Bagher Ghalibaf, stated on the 12th that US officials had requested Russian President Vladimir Putin to mediate and facilitate negotiations between the US and Iran. Ghalibaf said, "The Americans spoke with Mr. Putin during their visit to Moscow and requested that he communicate with Iran so that, in any way, Iran would agree to direct dialogue with the US." The White House did not directly respond to US media inquiries regarding whether the US had requested Putin to mediate US-Iran negotiations. US President Trump's senior envoys, Steve Witkov and Jared Kushner, met with Putin in Russia on Thursday to discuss the ongoing war in Ukraine. In their subsequent remarks, neither Putin nor Trump's envoys mentioned whether the two sides had discussed the Iranian issue.

The final value of France's October CPI monthly rate will be announced in ten minutes.

Switzerland's producer/import price index rose 0.9% year-on-year in October, compared with a previous reading of -0.20%.

Switzerland's producer/import price index rose 0.9% month-on-month in October, compared with 0.30% in the previous month.

The core issues facing the AI ​​industry have shifted from market space to revenue realization, cash flow generation, and profit distribution. AI labs need to accelerate their expansion into the application layer, converting model capabilities into actual revenue and achieving self-financing after covering inference, R&D, personnel, and infrastructure costs. Large cloud service providers like Microsoft, Google, and Amazon, on the other hand, need to convert their AI infrastructure investments into new revenue while maintaining existing business cash flow. UBS warns that restrictions on electricity and semiconductor capacity, approvals, and financing could delay this process and create a negative feedback loop: slower revenue growth leads to financing difficulties, and tighter financing further postpones infrastructure construction and revenue realization. Regarding profit distribution, infrastructure providers currently reap significant revenue from construction, while private capital bears a substantial proportion of the financing for AI needs. Ultimately, whether AI labs can capture sufficient profits from models and applications, and whether cloud service providers can monetize their infrastructure, will determine the ownership of the AI ​​industry's profit pool.

Germany's wholesale price index rose 0.4% month-on-month in October, down from 1.9% in the previous month.