The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1107 ET - Data center investment management firm Cloud Capital says it established a joint venture with Realty Income and an undisclosed global institutional investor. The JV is seeded with three initial investments valued at more than $6 billion, according to Cloud Capital, and focuses on stabilized hyperscale assets leased to investment-grade tenants on long duration. "Drawing on more than 30 years of investing in and leasing some of the world's largest data centers through multiple cycles, I have seen firsthand the importance of acquiring and developing high-quality assets and long-term tenant relationships," Cloud Capital CEO Hossein Fateh says. "We believe this positions our partners to benefit from exposure to highly strategic data centers underpinned by accelerating demand for cloud and AI applications." (connor.hart@wsj.com)
1057 ET - Credit investors are better off buying quality high-yield credit rather than investment-grade credit, BlackRock global chief investment strategist Wei Li says at BlackRock's 2026 midyear outlook media roundtable. The quality of high-yield credit has improved over the years, she says. High-yield credit also has attractive yields, Li says. Investment-grade credit is expected to face increased supply as AI-linked companies issue more debt to finance their growth, making IG credit less appealing compared to HY credit, she says. (miriam.mukuru@wsj.com)
0805 ET - Bitcoin remains under pressure after reaching a 21-month low overnight. Expectations that the Federal Reserve could raise interest rates are contributing to the cryptocurrency's weakness. Sentiment also isn't helped by news that crypto-hoarding company Strategy could sell bitcoin to raise more cash, Trade Nation's David Morrison says in a note. "This was something that company founder, Michael Saylor, said would never happen." Investors seem to be moving out of cryptocurrencies and piling into semiconductor stocks and anything related to AI, he says. Bitcoin drops 0.2% to $58,536, having dropped as low as $57,775 overnight, LSEG data show. (renae.dyer@wsj.com)
0650 ET - Siltronic's recovery remains uneven, as weakness in industrial, automotive and other markets continues to weigh on overall performance, Jefferies analysts say in a research note. While inventory levels are improving and pricing pressure is easing, there is no evidence of a broad industry turnaround, the analysts say. Instead, profitability is expected to recover only gradually, with higher sales volumes rather than stronger pricing driving earnings in the near term, they say. Nevertheless, the German manufacturer is expected to report a modest improvement in its second-quarter results, supported by strong demand for advanced silicon wafers used in AI applications, the analysts say. Although Siltronic is well-positioned, the financial impact of booming AI demand will take time to materialize, they add. Shares trade 6.1% higher at 86.5 euros. (nina.kienle@wsj.com)
0640 ET - The Singapore-Taiwan corridor is emerging as one of Asia's fastest-growing trade and investment relationships, Ma Tieying, senior economist at DBS Group Research, writes in a note. Singapore's expanding role as a regional hub for information and communications technology products, and the deepening integration between Singapore's and Taiwan's semiconductor industries, are key drivers of bilateral trade growth, Ma says. Trade between the two economies is on track to double this year, while two-way investment flows are expected to more than double, the economist notes. Singapore is on track to be Taiwan's largest source of foreign domestic investment, Ma adds. "Their partnership is emerging as a critical node within Asia's evolving technology networks." (kimberley.kao@wsj.com)
0635 ET - Europe will have a big role to play in the next stage of the artificial intelligence economy, OpenAI Chief Economist Ronnie Chatterji says at the ECB Forum on central banking in Sintra. Europe has lagged the U.S. in foundational AI research, but the next stage of innovation lies in diffusion across the economy, Chatterji says. Here, Europe could have a competitive advantage, with its deep network of industrial firms, research institutions and sector expertise able to capture significant value further down the AI value chain. Chatterji notes companies such as BBVA, Deutsche Telekom, and Orange as examples of companies that are adopting AI aggressively. Sectors such as finance, consulting, insurance, manufacturing and robotics are key areas where AI adoption could boost growth, he says. (don.forbes@wsj.com)
0546 ET - ASML Holding could raise its outlook for the year once again when it reports second-quarter results on July 15, UBS analysts write in a note to clients. The Dutch supplier of semiconductor-making equipment expects sales between 36 billion and 40 billion euros this year. Analysts say the group could shift its guidance toward the upper end of the range, or potentially slightly above, as demand for chip-making equipment keeps growing. ASML expects a gross margin--a closely watched metric of pricing power and profitability--between 51% and 53%. Analysts say they see scope for a modest upgrade toward the high end of the range. ASML shares trade 0.5% higher at 1,729 euros. (mauro.orru@wsj.com)
0445 ET - ASM International's revenue will keep growing in the coming years as chip makers spend more on semiconductor-making tools, UBS analysts write in a note to clients. The Dutch group supplies wafer-processing equipment, mainly for the deposition of thin films, and semiconductor companies are raising capital expenditures to satisfy growing demand for memory chips. ASM International's revenue is expected to grow 21% this year, 30% next year and a further 30% in 2028, the analysts estimate. They raise their price target on the stock to 1,150 euros from 1,000 euros and retain a buy rating. ASM International shares trade 2.3% higher at 1,023.00 euros. (mauro.orru@wsj.com)
0023 ET - Tencent's shares look cheap after a recent correction, Morningstar analyst Ivan Su says in a research note. Tencent's shares have fallen around 30% so far this year as the market punishes Chinese internet names amid uncertainty around AI, he says. Investors are particularly worried about Tencent's elevated AI expenditure and its AI products falling behind domestic peers, he says. "The reaction is overblown," the analyst says, noting AI has already strengthened Tencent's core businesses. Su notes that the discount looks even harder to justify against current fundamentals as Tencent's flagship games continue to dominate China's top-grossing charts while video accounts unlock high-margin ad revenue. Shares last ended 2.3% higher at HK$429.80. (sherry.qin@wsj.com)
2228 ET - Naver could post solid 2Q revenue growth in its core businesses, supported by the rollout of its artificial-intelligence tools, Daiwa Capital's Thomas Y. Kwon and Joon Lee say. The South Korean internet platform company is expected to report strong growth in gross merchandise value in its commerce business, membership revenue and shopping advertising for the April-June period, the analysts say. Revenue is likely to have grown 16% on year in 2Q with operating profit likely to have risen 13%, they say. Daiwa raises its 2026-2028 earnings-per-share forecasts for Naver by 5%-9%, citing the company's faster-than-expected rollout of AI advertising products and AI agents. (kwanwoo.jun@wsj.com)
1631 ET - Fears that artificial intelligence technology will lead to a wave of job losses in the software sector might be exaggerated, according to Moody's. Software-related employment has risen about 15% from 2019, compared to 5% for the rest of the private sector, the credit-ratings provider says, citing data from the U.S. Bureau of Labor Statistics. It adds that an analysis of recent earnings calls by 700 software companies also didn't show a clear trend toward job cuts. In addition, data on new business formation indicate that, rather than erasing software jobs, AI makes setting up such businesses less costly, so enables more technology startups, Moody's says. "Software companies may be reluctant to lay off software engineers in large numbers, since it is now easier for them to band together and develop competing products." (luis.garcia@wsj.com; @lhvgarcia)
1400 ET - Bitcoin has been trading just above of $58,000 through the day, losing ground as the cryptocurrency market reacts to Strategy Inc.'s plans to stay solvent as bitcoin trades at multi-year lows. For long-term holders of bitcoin across the board, the situation is just getting tougher--with 45% of the supply of bitcoin in the hands of long-term holders now underwater, or worth less than it was when minted. That's roughly 7.47 million BTC that has slipped into negative profitability, which is the worst showing since 2019, according to Cex.io. The firm adds that its the first time in four months that the number of long-term holders actually decreased--signaling that they are beginning to break and sell instead of accumulating more cheap coins. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
July 01, 2026 12:20 ET (16:20 GMT)
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