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.

1341 ET - Bitcoin's decline after the crypto-friendly Clarity Act's defeat in Congress has been relatively shallow, analysts at Glassnode say in a report. "Given the news, the fall is small," they say. It appears that new buyers have gone quiet, cutting off the flow of money that had been driving up Bitcoin in the last month, but holders aren't rushing to sell either, they say. Coins are being taken off of exchanges, a move that happens when traders aren't looking to sell their holdings, the analysts say. There is also a wall of "buy" orders sitting within 10% of the current price, which would be triggered if the price drops further and prevent further drawdowns, they say. (dean.seal@wsj.com)

1320 ET - Anthony Moisant, chief information and security officer at Indeed, says humans still need to be in the loop when it comes to AI. Companies need to have people as part of the process when making consequential decisions around AI systems, because if left unchecked, those decisions can create unintended downstream effects, Moisant said at the WSJ Technology Council Summit. In Indeed's case, an example of an unintended downstream effect would be a decision that inadvertently closes a door for a job seeker: "Preventing somebody from getting a job because we made a bad experimentation decision would be pretty horrendous," Moisant says. The key to avoiding such a case, he continues, is education. "We've got to have the guard-rails in place. We've got to have that rigor around cost transparency, around security, around privacy, around education." (connor.hart@wsj.com)

1316 ET - A cybersecurity workflow that would have taken months in the days before AI can now be executed within five to eight minutes using AI agents, Galina Antova, CEO of cybersecurity firm Kai, said at The WSJ Technology Council Summit. "So when the attackers are executing at machine speed, defense can do that at the same time," Antova said. Of course, most large enterprises have to incrementally revamp their cybersecurity stacks over time to arrive at an end-to-end, AI-powered cybersecurity solution. "You're flying the plane as you're rebuilding it," she said. "But the horizon is few months. The horizon is not three years, because we don't have that kind of time." (elias.schisgall@wsj.com)

1251 ET - The crypto-friendly Clarity Act is officially dead in Congress after falling short yesterday on a vote to push the bill to a floor debate, StoneX analyst Mark Palmer says in a note. That means the uncertainty that has lingered over much of the crypto space isn't going away, he says. Altcoins and decentralized finance protocols, which got hit the hardest under the previous SEC administration, are going to be impacted by the bill's defeat the most, Palmer says. But that doesn't mean the industry's growth will grind to a halt, he says. The work that Congress didn't finish now falls to the SEC and CFTC to sort out, which they have been preparing for, Palmer says. (dean.seal@wsj.com)

0819 ET - OpenAI's valuation may continue climbing ahead of its hotly-anticipated initial public offering. The ChatGPT maker has held early talks with investors about a new funding round that could value it at more than $1.2 trillion, WSJ reports, up from a valuation of $852 billion in March. The potential for fresh funding comes on the heels of the release of Astra, OpenAI's latest cutting-edge model which it described as the world's most intelligent and aligned model. It would also come ahead of the company's IPO that's now expected next year. (kelly.cloonan@wsj.com)

0421 ET - Soitec's photonics business growth trumps investor concerns that the French semiconductor-materials maker could lose market share in mobile communications, J.P. Morgan analysts write in a note to clients. They upgrade their rating on the stock to overweight from neutral. "While our prior concerns on market decline and share loss in mobile remain, these are overwhelmed by raised expectations for the silicon photonics business," analysts say. Earlier this month, Soitec lifted its revenue guidance for the current quarter as the race to build artificial-intelligence infrastructure continues to fuel demand for its products. Analysts estimate photonics revenue will exceed 1 billion euros in the fiscal year to the end of March 2030. Soitec shares trade 11% higher at 136.60 euros. (mauro.orru@wsj.com)

0324 ET - European stock indexes are in green across the board, as banks and AI-linked stocks recoup some of the week's losses. The Europe-wide Stoxx 600 is 0.4% higher. London's FTSE 100 adds 0.35%, led by housebuilder Barratt Redrow--up 6.15% after earnings. Miners also gain as metals prices increase. In Paris, the French CAC 40 nudges up 0.2%. Chip maker STMicroelectronics leads the index, gaining 1.75%, though software group Capgemini falls back 1.5%. Luxuries also falter--Hermes loses 0.85%. The German DAX adds 0.35%, led by AI-linked industrials group Hochtief--up 3.5%. Italy's FTSE MIB and Spain's IBEX 35 both rise by around 0.5%. The Dutch AEX rises 0.3% as ASML jumps 2.25%.(josephmichael.stonor@wsj.com)

0028 ET - The Thai telecommunications sector's slower service revenue growth outlook over 2027-2028 leads CGS International's Weerapat Wonk-urai to downgrade his call to underweight from overweight. The analyst expects companies in the sector to post revenue growth of 1.2%-1.9% over 2027-2028, compared with 4.6%-17% in 2025, citing a lack of new revenue drivers and monetization. The sector's valuation also seems pricey compared with peers in Southeast Asia, he adds. He cuts his 2027-2028 earnings-per-share estimates for Advanced Info Service by 4.1%-8.7% and trims his 2026-2028 EPS projections for True Corp. by 3.7%-8.6%.