It's a sunny 17 degrees is San Francisco this morning, with relatively light breeze meanign we should get both races in.
Both boats are heading towards the starting zone now, with both skippers set full into the pre-race process.
Just a couple of minutes away now...
Team NZ coming in from the port end of the start zone, and the race is underway in earnest.
Both boats are already pushing 38 knots.
Only a two-minute entry as Team NZ tacks to the left and Oracle heads the other way.
Inside a minute until the official start.
Team NZ on the right o Oracle with 10 seconds to go as the boats head to the start line.
They're relatively level as they cross the start line and we're underway in the America's Cup.
Team NZ are edging forwards as we head to mark one. And they're ahead around the mark.
Team NZ the fastest boat right now.
But there's not much in it.
Team NZ gybe off the port and Oracle stay straight.
Oracle are now gybing but they're well back from Team NZ as we head to mark two.
Team NZ do have the speed - Barker and co will be thrilled with how this has started.
Oracle are right near the left edge of the boundary, with a distance of about 74 metres between the boats.
There's not much in it and whoever leads at the bottom mark will be in a strong position.
Team NZ gybe and they're heading back towards Oracle now. They're just in front a the boats cross paths.
Team NZ now continuing off to the right and Oracle are well in touch. Finally, some incredibly competitive racing.
Both boats are heading towards gate two now with Team NZ barely in front.
Team NZ round the mark with a very slight lead.
Only a matter of seconds. This is superb stuff.
Team NZ gybe to the left and the boats have some real separation as we head up-wind for the first time.
A nice move from Oracle and Team NZ tack to the left - but Team NZ still the faster boat upwind.
Some pained faces on the Team NZ boat.
Team NZ are almost 100m in front now, with Oracle well to the right.
Team NZ now tacking to the right and the boats are coming together once again.
Race 1 (NZL,USA): Warning, 3:00 until startby America's Cup Racing via twitter 9/7/2013 8:12:00 PM
5 minutes to go-time in the 34th America's Cup....I can't stand the tension!by Dana Johannsen via twitter 9/7/2013 8:12:22 PM
Great start, Dean Barker and ETNZ...it was just like Nascar on the water!by Paul Lewis via twitter 9/7/2013 8:18:55 PM