U.S. seizes Iranian-flagged ship, Warsh's big week, Cursor funding and more in Morning Squawk

Good morning! Today, as the Boston Marathon unfolds, the spotlight shines on an inspiring runner who has overcome paralysis to participate. However, on the financial front, stock futures are down as investors brace for a new week following a strong performance in the markets last week. Recent developments have investors on high alert after President Donald Trump announced the seizure of an Iranian-flagged cargo ship in the Gulf of Oman. This news dampens the optimism that had fueled stock indexes to record highs, raising concerns about ongoing tensions in the region. In other news, Kevin Warsh, nominated by Trump to chair the Federal Reserve, is set to face a Senate confirmation hearing tomorrow. As reported by CNBC's Matt Peterson and Steve Liesman, Warsh's connections to prominent tech figures—including Palantir's Alex Karp and PayPal's Peter Thiel—make him a noteworthy candidate. His experience in venture capital and his wealth could influence how tech leaders interact with the Fed. Warsh is recognized for his pro-market stance and his belief that artificial intelligence could significantly alter the economic landscape and monetary policy. Meanwhile, family-owned car dealerships are experiencing a stark contrast in fortunes across the U.S. As highlighted by CNBC's Michael Wayland, larger mega-dealerships are thriving while smaller ones struggle to keep up. Recent data shows the top 150 dealerships accounted for a significant portion of vehicle sales, reflecting a consolidation trend that has caught the attention of Wall Street. In the tech space, AI startup Cursor is reportedly in talks for a substantial $2 billion funding round, which could elevate its valuation to over $50 million. Co-led by Andreessen Horowitz, with participation expected from Nvidia and Thrive Capital, this funding signifies strong investor interest in AI-driven software solutions. However, Nvidia is facing criticism from the gaming community as it shifts focus to its more lucrative data center business, which now makes up over 90% of its revenue. This pivot has left some gamers feeling neglected, as they were once the cornerstone of Nvidia's success. "Gamers have brought you this far," lamented Greg Miller, co-founder of the Kinda Funny Games Daily podcast, reflecting on the company's changing priorities. Stay tuned as we continue to monitor these developments and more throughout the week.