Good morning. OpenAI will make chips with Broadcom to take on Nvidia. Nigel Farage’s Reform UK holds its powwow today. And Arundhati Roy has a new memoir. Listen to the day’s top stories.

— Teo Chian Wei and Abhishek Shanker

OpenAI will start mass output of AI chips with Broadcom, a person familiar said. The chipmaker surged in after-market trading after touting soaring revenue from a $10 billion order from a new customer. Read about why world powers are sparring over computer chips.

Nigel Farage and Reform UK lawmaker Laura Anne Jones in July 2025. Photographer: Tom Skipp/Bloomberg

For the past year, Nigel Farage has been trying to professionalize his upstart band of one-time Brexit campaigners to show Reform UK can be a credible governing party by the time the next general election is due in 2029. Those efforts will be put to the test today as 12,000 members, newly elected councilors and four MPs descend on Birmingham for the party’s annual political conference. The party is overtaking the Conservatives as Labour’s main rival, explains Bloomberg Opinion columnist Adrian Wooldridge.

Turkey’s central bank Governor Fatih Karahan struck an optimistic note on the inflation outlook, suggesting investors may have been too hasty in reducing their forecasts for interest-rate cuts. In an interview with Bloomberg News, Karahan said the breakdown of August’s inflation numbers and second-quarter growth showed that demand-driven price pressures are easing.

Denmark’s central bank will cut its economic outlook for 2025 substantially because of weaker sales growth at Novo Nordisk and US tariffs, according to its governor. Christian Kettel Thomsen acknowledged in an interview that the bank’s prediction in March for expansion to slightly exceed last year’s outcome of 3.5% is no longer realistic.

Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets.

The blockbuster success of Ozempic and Wegovy made Novo seem unstoppable — but now the drugmaker faces a host of challenges. Bloomberg journalists will answer your questions in a live conversation happening today at 2 p.m. CET. Click here to tune in.

Deep Dive: Finding a Home

More Americans, for political, financial and personal reasons, are studying in Ireland. Not only do they have to deal with the usual challenges of homesickness and culture shock, but also the very Irish predicament of finding a place to live in one of the world’s toughest housing markets.

• Offers for graduate courses starting this academic year at Trinity College rose 40% over the previous year. Similar trends are playing out across the country.
• For the 2023/2024 school year, an estimated 48,600 students needed housing in Dublin, according to KPMG. In the next 10 years, that number is projected to increase by 22%.

The Big Take

Opinion

Britain’s property-based tax for funding local services is a travesty—unfair, arbitrary and regressive, Matthew Brooker writes. A radical overhaul that replaces these taxes would be both long overdue and promise lasting economic benefits. It would also be politically perilous.

Before You Go

Arundhati Roy, the Booker Prize-winning author, explores her tumultuous relationship with her mother in a new memoir, Mother Mary Comes to Me. The book reveals how Roy’s fierce, unconventional mother shaped her into the celebrated and controversial writer she became.

 

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