Good morning and welcome to Markets Desk.
AMD is making a major supply chain commitment, pledging more than ten billion dollars in Taiwan to build advanced chip packaging infrastructure alongside TSMC. Chief Executive Lisa Su is essentially securing the physical foundation AMD needs to scale its artificial intelligence business aggressively, locking in capacity before demand outpaces what any single supplier can deliver on short notice.
Shifting to crypto markets, Circle's stock is now trading more than seventy percent below its all-time high, a brutal reversal for a company that debuted to considerable fanfare earlier this year. The stablecoin issuer faces real questions about whether its business model generates the kind of durable earnings growth that justifies an equity premium, and investors appear to be repricing that uncertainty in real time.
And on the political front, President Trump's financial records have been ruled fair game by a federal judge in his own defamation lawsuit against the BBC. The British broadcaster is seeking testimony and documents from Ivanka Trump, Jared Kushner, and Donald Trump Junior, a development that turns what the president initiated as an offensive legal strike into a significant disclosure risk.
That's the tape. Markets Desk, signing off the floor.
