Tech, Media & Telecom Roundup: Market Talk

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.

1113 ET – Bitcoin is trading up 0.4% to $63,712, managing to trade higher despite several sources of pressure. Strategy confirms a new sale of bitcoin, with 1,638 BTC sold at an average price of $63,957, worth roughly $105 million. This leaves Strategy with a stockpile of 842,138 BTC at an average price of $75,419. That’s an unrealized loss of $9.9 billion for Strategy’s bitcoin treasury. While previous sales of bitcoin announced by Strategy have pushed prices lower, fundamentals have shifted enough for bitcoin to stand firm this time. “Market conditions continue to improve beneath the surface,” says Cex.io in a note, citing ETF inflows and lower liquidations. ([email protected])

0720 ET – Software stocks represent a misunderstood opportunity, as markets underestimate the sector’s resilience to competition from artificial intelligence, Peel Hunt analysts write. “We do not expect AI to kill software,” they say. Markets are failing to understand the way software companies deliver value, they say. The sector’s competitive moat isn’t in code. Instead, software’s core services are based on “human, tacit, and time-compounding factors” that AI can’t replicate, they say. Rather than shrinking the sector’s potential market, software companies can expand into more complex and deeply embedded offerings, they say. The Stoxx Europe Total Market Software and Computer Services index jumps 3.3%. ([email protected])

0613 ET – Alibaba’s cloud business and improved AI model performance are supporting its shares recently, Citi analysts say in a research note. Alibaba’s new Qwen3.8-Max model has “significantly improved benchmark scores,” the analysts say. They note that as model developers speed up their model iterations, a “model-agnostic environment” where enterprises adopt multiple models for different tasks instead of locking into one single vendor, is emerging. While long-term success will require immense resources and a loyal customer base, companies with full-stack capabilities, from chips and cloud infrastructure to models and applications, like Alibaba, are better positioned to lead, they add. Meanwhile, positive cloud revenue read-throughs from AWS and Azure suggest strong cloud revenue for AliCloud as well, they add. Shares ended 7.0% higher at HK$125.20. ([email protected])