Good morning, you're tuned in to Markets Desk, let's get you up to speed.
Micron is surging seven percent in early trade after the chipmaker announced billions in fresh investment to expand domestic semiconductor manufacturing. The move signals growing confidence in U.S. supply chain buildout and gives the broader chip sector a meaningful lift heading into the session.
Pivoting to the AI infrastructure trade, Meta's latest cloud expansion is sending ripples through names like Nebius and CoreWeave. When a hyperscaler of Meta's scale deepens its infrastructure commitment, it validates the entire ecosystem beneath it — from data center operators to power providers — and traders are repricing that exposure accordingly.
And Elon Musk has slipped from trillionaire status after SpaceX shares fell roughly twenty-six percent, dragging his net worth down sharply. Tesla is also under pressure, and with Musk's wealth so heavily concentrated in private and public ventures that are both moving lower simultaneously, the question investors are asking is whether either name has found a floor.
That's the tape. Markets Desk, signing off the floor.
