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.

1515 ET [Dow Jones]--Five data center companies who got their start in the cryptocurrency mining business are set up for "rapid growth," UBS analysts write in a note, initiating coverage of the stocks with buy ratings. The companies -- Hut 8, TeraWulf, Core Scientific, Cipher Digital, and Applied Digital -- already have connections to power grids that will prove increasingly valuable, given that "time to power is the key factor in data center development," the analysts write. "They occupy the enviable position of right place, right time with the skills and assets to supply crucial inputs in the largest infrastructure spending project in history." (elias.schisgall@wsj.com)

1501 ET - Thomson Reuters' new AI product rollout will drive faster long-term revenue growth than previously thought, says TD Cowen's Vince Valentini. In a report, the analyst notes new products either recently launched such as the new version of CoCounsel or still in development, like its proprietary LLM, called Thomson. Then there's Brief Builder for legal, which is coming soon. "We believe the legal TAM [total addressable market] growth rate is accelerating," he says, estimating a 10%-13% growth over the next few years. Valentini sees "TRI being able to keep pace with this market growth." As a result, Valentini raised his consolidated organic revenue growth to 9.0% in 2027 and 9.4% in 2028, up from his previous estimate of 8.3% and 8.4%, respectively. (adriano.marchese@wsj.com)

1457 ET - The U.S./China summit is really about "buying time," according to Oxford Economics. The economists say "China wants to preserve export access while reducing external technology dependence. The U.S. wants to limit near-term supply-chain disruption and build manufacturing capacity at home." They say both sides need time to build credible substitutes. As for actual deliverables from the summit, they expect limited tariff relief, potentially stronger purchase commitments in agriculture and aircraft, and agreements or commitments to cooperate on a narrow set of issues, including AI safety and Iran. That would leave thornier issues around tech rivalry and Taiwan unresolved, Oxford says. (patrick.sheridan@wsj.com)

1448 ET - Expedia's partnership with Meta's Muse AI assistant puts pressure on Booking Holdings and Airbnb to follow suit, Morgan Stanley says in a note. If the partnership successfully shifts trip planning activity to Muse agents who prioritize Expedia listings, "we think it will also increase pressure on BKNG and ABNB to pursue similar partnerships with Muse rather than risk losing incremental traffic and customer relationships to EXPE." Airbnb may be most exposed, the analysts say, as around 90% of its traffic comes directly and the company relies comparatively less on marketing. Expedia falls 6.3%, Booking is off 4.6% and Airbnb slides 6.1%.(elias.schisgall@wsj.com)

1351 ET - Bitcoin ETFs have posted a net inflow of more than $2.3 billion over four consecutive days, with more than $1.7 billion of that reported in the past two days, according to data from Coinglass. Analysts now say the next psychological price level for bitcoin is at $90,000. "We expect the $80,500 or so region to provide the first area of support and then for the $85,000 to 86,500 region to continue acting as resistance until the next range breakout is catalysed," says analysts with Bitfinex in a note. Bitcoin is trading down 2.7% to $83,883. (kirk.maltais@wsj.com)

1342 ET - The key debate regarding Micron's stock is the balance between momentum in memory technology demand and pricing and the duration of the memory shortage, according to UBS in a note. So far, it seems that the mismatch between memory supply and demand will widen in 2027. But even if open market memory prices fall by around 80% at the end of the cycle, beginning in the back half of 2028, Micron should still show strength, the analysts say. "We think trough annualized EPS will still be HIGHER than where MU will likely guide annualized EPS next Q--a very powerful statement and one that we think the market will ultimately reward," they say. Micron is off 2.3%. (elias.schisgall@wsj.com)

1249 ET - The risks associated with CoreWeave are real, but they are "more than adequately priced-in" at the stock's recent valuation of around three times 2027 revenue, UBS analysts write in a note, initiating coverage with a buy rating. They identify several risks hanging over the stock: the leverage needed to finance CoreWeave's data center buildout, the profitability of AI infrastructure, customer concentration, competition in the cloud market, and bottlenecks tampering new data center construction. "In our view CoreWeave shares at 3x 2027 revs already reflect these concerns and may not reflect the strength of demand and the upward revisions to revenue estimates as each GW of AI compute capacity can be monetized at higher price points," the analysts write. (elias.schisgall@wsj.com)

1229 ET - Investor concerns around CoreWeave's leverage and credit risk are likely peaking, and the company should benefit from a positive inflection in the Street's sentiment around AI, UBS analysts write in a note, initiating coverage with a buy rating. The rating sets UBS apart from consensus, the analysts concede, but they argue that investors are underrating GPU pricing trends, the durability of compute demand, and CoreWeave's positive reputation within the tech industry. "A positive call on CoreWeave shares is a de facto call that investors will soon rotate back into the long-AI trade, a scenario that seems increasingly likely given the muted sentiment, strong demand signals and reported frontier lab growth," the analysts write. Shares are up 1.7%. (elias.schisgall@wsj.com)

1122 ET - Bitcoin Cash, the product of a 2017 hard-fork of bitcoin, has had an explosive week--gaining 57% in the past seven days, according to data from Coinglass. Pushing the alternative blockchain up are plans from the CME Group to launch futures contracts for both Bitcoin Cash and Uniswap starting next month. The last time Bitcoin Cash traded this high was in late May. BCH is up 6.3% to $344.89, according to Coinglass data. Other major cryptocurrencies are mostly trading negative, with bitcoin down 1.9% to $84,577, ethereum off 2.7% to $2,677, XRP losing 2.7% to $1.53, and solana back-tracking 2.4% to $115.09. (kirk.maltais@wsj.com)

0928 ET - The link between AI-related stocks and bond yields could strengthen further as large technology companies issue more debt, Capital Economics James Reilly says in a note. AI-linked sectors have tended to perform well when oil prices fall, reflecting their increased sensitivity to bond yields, Reilly says. (miriam.mukuru@wsj.com)

0901 ET - Bitcoin prices are lower after a recent surge bringing prices to $87,000, the highest they've been since January. The crypto token is trading down 0.8% to $85,506, according to data from LSEG. Even so, the mood among investors regarding bitcoin is positive, with traders seeing the timing of bitcoin's jump as a positive sign for demand--which appears to be coming largely from ETFs, says Naeem Aslam of Zaye Capital Markets in a note. "Bitcoin's ability to hold… despite a recent 25-basis-point rate increase and stalled crypto legislation shows that institutional demand is currently offsetting some macro and regulatory headwinds," says Aslam. Ethereum is down 1% to $2,723, XRP slips 0.1% to $1.57, and solana is off 0.8% to $116.98. (kirk.maltais@wsj.com)

0809 ET - RBC says that while Life Sciences remains automation company ATS's primary focus, its radiopharma sub-segment, which covers diagnostics, therapeutics and radioisotopes, is emerging as an important growth driver. Analyst Sabahat Khan says in a note that ATS has historically been involved with diagnostics, and that isotope production automation is a near-term opportunity. Longer-term, Khan sees pharmaceutical automation for approved therapies--such as smaller batch, decentralized production requiring intense automation given the therapies are hazardous to operators--as a "potentially larger opportunity."