Good morning and welcome to Markets Desk, your midday read on what's moving markets right now.
Natural gas took a sharp hit Monday, with October Nymex contracts settling down more than six percent after TC Energy lifted a force majeure on its Appalachian pipeline over the weekend. The West Virginia line is back in service, easing supply disruption fears that had briefly pushed prices higher, and traders moved quickly to reprice the relief.
Shifting to semiconductors, AMD is making a major bet on physical AI, agreeing to acquire World Labs, the startup founded by Fei-Fei Li, widely known as the godmother of AI, in an all-stock deal valued at eight point two billion dollars. World Labs focuses on AI that can interpret and interact with the physical world, technology seen as foundational for robotics and autonomous vehicles, giving AMD a critical edge as that race accelerates.
Meanwhile, SpaceX is drawing serious analyst attention not for its rockets but for its data centers. Analysts are flagging a growing opportunity for the company to lease computing capacity to outside firms, positioning Starlink's infrastructure as a meaningful AI power play that could become one of the company's most lucrative long-term revenue streams.
That's the tape. Markets Desk, signing off the floor.
