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Kleiner Perkins, the half-century-old venture capital institution, is raising $3.5 billion to make bets on artificial intelligence startups reshaping industries including software, health care, transportation and autonomy.

The firm — best known for its early industry-defining investments in companies like Google and Amazon.com Inc. — will dedicate $1 billion of the new cash to its 22nd early-stage fund, targeted at finding promising AI upstarts. The other $2.5 billion will be focused on investing in growth-stage companies, larger startups that include increasingly cash-hungry artificial intelligence players.

Oil prices were higher on Tuesday, paring losses after falling sharply in the previous session, as energy market participants assessed developments related to the Iran war.

International benchmark Brent crude futures with May delivery were traded up more than 1% at around $101 per barrel, while US West Texas Intermediate futures for May traded more than 2% higher at roughly $90 per barrel.

Stocks fluctuated and oil climbed as traders grappled with a range of possible outcomes for the war in the Middle East, with fighting continuing as US President Donald Trump pushed for talks.

S&P 500 contracts were 0.1% lower after swinging between gains and losses. Treasuries dipped, with the two-year yield climbing two basis points to 3.88%. WTI crude rose above $90 a barrel, paring Monday’s steep decline. The dollar gained 0.2% while gold edged higher.

JPMorgan Chase & Co. says ageing, run-down grid infrastructure now risks undermining security goals, with everything from extreme weather to cyberattacks posing a growing threat.

The Wall Street bank, which laid out its analysis in a report seen by Bloomberg, describes the current decades-old grid network as a “national security risk.” Against that backdrop, investments that make grid infrastructure more resilient are becoming “increasingly attractive,” according to JPMorgan.

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