Good morning, you're tuned into Markets Desk.
The White House is making a significant structural move on artificial intelligence. The Wall Street Journal reports that Jay Clayton, currently serving as Director of National Intelligence, will take on the role of AI policy czar for the Trump administration. Clayton's background spans finance and regulatory law, making him an unconventional but consequential choice to shape how the federal government engages with the fastest-moving technology sector in the world.
Shifting to semiconductors, a tale of two trajectories is emerging in the chip space. ASML is demonstrating consecutive periods of revenue growth, reinforcing its position as the indispensable supplier of lithography equipment to the global chip industry. Qualcomm, meanwhile, is seeing contraction at the top line, a signal worth watching as mobile demand cycles remain uneven heading into year-end.
And in the streaming and media world, Ynon Kreiz has been named co-CEO of Skydance alongside David Ellison, answering one of the more pressing governance questions hanging over the company's pending merger. Kreiz, the former Mattel chief executive who oversaw that company's remarkable brand turnaround, brings serious operational credibility to what is shaping up to be one of Hollywood's most closely watched combinations.
That's the tape. Markets Desk, signing off the floor.
