Good evening, you're listening to Markets Desk.
Treasury Secretary Scott Bessent is sitting down with Chinese Vice Premier He Lifeng ahead of the Trump-Xi summit scheduled for September twenty-fourth, with trade, artificial intelligence, and critical minerals all on the table. The talks signal that both sides are serious about narrowing differences before the leaders meet, and markets will be watching closely for any signal on tariff relief or tech export controls.
Shifting to the AI policy front, Michael Kratsios, the White House director of science and technology policy, delivered a blunt message to tech companies worried their models are becoming too dangerous to deploy: just stop building them. The administration's position is that companies don't need a government mandate to pump the brakes, and that safety concerns are a business decision, not a regulatory one. It's a notable posture from an administration that has otherwise pushed hard to accelerate AI infrastructure.
And on the equity side, a bold call worth flagging: analysts are projecting that Micron Technology could generate more net income than Microsoft by fiscal two thousand twenty-seven, with Micron's forward earnings guidance implying roughly thirty-five billion dollars in net profit. That would mark a stunning reversal of fortunes for the memory chipmaker, riding the AI-driven surge in demand for high-bandwidth storage.
That's the tape. Markets Desk, signing off the floor.
