Good morning, you're tuned into Markets Desk.
The media landscape is shifting again as the proposed merger between Paramount Skydance and Warner Bros. Discovery clears a significant legal hurdle. A coalition of twelve state attorneys general, led by California, reached a settlement resolving a multistate antitrust lawsuit, allowing the deal to advance toward completion.
Across the Pacific, Alibaba is making a bold statement on the infrastructure and artificial intelligence front. Shares in Hong Kong jumped three percent after the company unveiled a new proprietary AI chip and announced plans to sharply expand its global data center footprint, signaling that Chinese tech giants are not ceding ground in the AI arms race.
And on the question of what AI actually earns, Goldman Sachs is weighing in. The bank sees AI agents, software that can book travel, shop, and manage tasks autonomously, as the next monetization frontier. Goldman expects the revenue model to center on advertising and premium subscriptions, though turning capability into consistent cash flow remains the open question for the sector.
That's the tape. Markets Desk, signing off the floor.
