Good afternoon and welcome to Markets Desk.
ON Semiconductor is making a bold pivot, committing seven billion dollars to deepen its position in artificial intelligence. The deal extends the chipmaker's reach from power and sensing technology into connected compute infrastructure, a direct play on the accelerating demand for AI hardware across data centers and edge devices.
Shifting to a broader market warning, wealth manager Ted Oakley of Oxbow Advisors is sounding the alarm on equity valuations, flagging the potential for a forty percent correction. Oakley argues the market is, in his words, not normal, with investors dangerously concentrated in S&P five hundred index funds that offer far less diversification than they assume, leaving portfolios exposed if sentiment turns.
And on the policy front, the Trump administration is capping initial student visa admissions to four years, requiring foreign students to either apply to the Department of Homeland Security for an extension or physically leave and re-enter the country. The rule adds significant administrative burden and uncertainty for international students and the universities that depend on their enrollment and tuition revenue.
That's the tape. Markets Desk, signing off the floor.
