The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1206 ET - Thomson Reuters' share price divergence creates opportunity, says TD Cowen's Vince Valentini. The analyst says in a report that TRI shares have been under pressure since July 2025, "declining approximately 54% from their all-time high despite consistently delivering strong operating results." He notes that guidance continues to trend higher, with management expecting organic revenue growth of 7.5%-8% in 2026, up from 7%-7.5% in 2025. Also, following 2Q, target outlook was raised 50 basis points to 8% "for the total company and to 9.5%-10.0% for the Big Three segments, from approximately 9.5% previously." With the shares down about 40% over the last 52 weeks at C$145.13, Valentini says "the current valuation increasingly understates the company's attractive long-term growth and margin outlook." (adriano.marchese@wsj.com)

1145 ET - Sam Altman has confirmed that OpenAI won't go public until next year, but that's been the sentiment for some time now, Neostellar Capital's Evan Schlossman says in a note. Altman's statements are tied to he and Elon Musk supporting Anthropic CEO Dario Amodei's call to slow down AI development over safety concerns. The company just raised $122 billion, showcasing how much demand they've still got in the private markets, Schlossman says. Clearly OpenAI isn't facing any pressure to run to the public markets, and will go public whenever its most advantageous to the business, he says. (dean.seal@wsj.com)

1137 ET - Leaders of the top AI companies in the U.S. are in rare agreement that they need to slow development of the technology, but a major slowdown is unlikely while China is in the race, Giuseppe Sette co-founder and president of investment research platform Reflexivity says in a note. Clearly something happened that was big enough to force a unified stance between Dario Amodei, Sam Altman and Elon Musk, Sette says. And it was probably stopped at the last minute before disaster struck, he adds. But any retracement in AI stocks from the truce between the U.S. leaders is "simply a buying opportunity," Sette says. (dean.seal@wsj.com)

1054 ET - The leading U.S. AI labs may agree to the first step of Anthropic CEO Dario Amodei's plan to "pace" the AI frontier, letting independent evaluators embed in the labs' research. But don't hold your breath for his ultimate goal of global coordination between both democratic and non-democratic countries, namely China, Truist analysts say in a note. "We view participation from Chinese labs as essential for adequate pacing," they say but add that they "do not expect material international alignment in the near future." Ultimately, the analysts don't think "US frontier labs will pause and allow Chinese labs to take the lead." (elias.schisgall@wsj.com)

0917 ET - Europe's most valuable company is on track to shed more than 33 billion euros of market value, as the selloff in AI-related stocks bites on European equities. Calls from leaders to slow down the development of the technology at frontier U.S. AI companies have spooked the market, Quilter Cheviot's Ben Barringer writes, leading to a selloff in companies across the semiconductor chip supply chain. ASML trades down around 6%, which--if held to the end of trade--translates to a fall in value of 33.6 billion euros. The stock would wipe out around six weeks of gains to trade at its lowest level since July 29. A 6% decline would be the stock's sharpest percentage fall since July 27. (josephmichael.stonor@wsj.com)

0752 ET - The introduction of new safeguards slowing the development of artificial intelligence doesn't necessarily spell the end of the AI-driven investment boom, UBS analysts write. Expanding adoption of AI models will continue to drive demand for computation, they write. UBS maintains its forecast for AI capital expenditure of $1.2 trillion in 2027, a 33% rise on 2026. AI-related shares are falling sharply across the globe. ASML--Europe's most valuable company--falls 6%, while French semiconductor-materials maker Soitec tumbles 14%. In the U.S., Nasdaq futures drop 1.8%. (josephmichael.stonor@wsj.com)

0349 ET - European chip stocks open sharply lower, tracking declines in Asia, after the leaders of some of the biggest AI companies said that they needed to slow development of the technology. Shares in Dutch supplier of chip-making equipment ASML Holding fall 4.2%, while those of smaller peers ASM International and BE Semiconductor Industries both shed more than 6%. German chipmaker Infineon Technologies drops 6.2%, and Milan-listed shares in STMicroelectronics are down 4%. Other suppliers to the chip industry, such as France's Soitec and Germany's Aixtron, fall 12% and 7.6%, respectively. While the AI lab leaders fell short of calling for a pause in development, their comments represent one of the clearest acknowledgements yet from within the industry that there might be limits to how fast capabilities can responsibly advance, strategists at Deutsche Bank say in a note.(adria.calatayud@wsj.com)

0043 ET - Venture Corp.'s lifestyle and consumer products, as well as life sciences segments are likely to recover in 2027, supporting its earnings, says DBS Group Research's Lee Keng Ling in a note. The Singapore technology company is expected to launch a product in 4Q under its lifestyle and consumer products division, which should support the business's volume recovery and higher product value, the analyst says. Meanwhile, its life sciences segment is stabilizing from a recent downturn and should turn into a growth avenue around 2027, she says. DBS raises its 2026-2028 earnings estimates by 4%-5%. It raises its target price to 22.90 Singapore dollars from S$21.80 and maintains a buy rating. Shares rise 0.7% to S$16.78. (megan.cheah@wsj.com)Luxshare Precision Industry is likely to be one of the biggest beneficiaries as Apple's iPhone 18 upgrade cycle unfolds, Morgan Stanley says. "Apple's iPhone 18 Upgrade Cycle Likely to Boost Some Suppliers -- Market Talk," at 0255 GMT, incorrectly said Luxshare Precision Technology.

2217 ET - Malaysian mobile network operators' share prices are expected to be increasingly driven by earnings and 5G dual network developments, Kenanga IB analyst Kylie Chan Sze Zan says in a note. CelcomDigi is preferred over Maxis, with greater scope for earnings to improve as merger-related cost savings aren't fully reflected in forecasts, she says. Both operators have sufficient balance-sheet capacity to absorb potential near-term funding needs for Malaysia's state-backed 5G infrastructure firm Digital Nasional without materially affecting dividends, she adds. The bigger risk would be recurring funding until Digital Nasional reaches sustainable cash-flow breakeven, Chan says. Kenanga maintains a neutral rating on Malaysia's telco sector, rates CelcomDigi at outperform. (yingxian.wong@wsj.com)

2202 ET - Recent calls by Anthropic to pace frontier artificial-intelligence development, alongside similar caution from Sam Altman and Elon Musk, don't necessarily imply a slowdown in AI capex or a bearish outlook for hardware players, says James Ooi of Tiger Brokers. Spending could shift from training the next model toward expanding inference capacity and improving reliability, the market strategist says in a note. That shift could also broaden the set of AI beneficiaries beyond hardware vendors and hyperscalers to cybersecurity and observability providers, which could see greater demand. If regulation and safety requirements become more important, compliance costs could rise, favoring well-capitalized players such as OpenAI, Anthropic and Google, while making it more difficult for smaller frontier labs to compete on the same footing.