JP MORGAN RAISES INFINEON TECHNOLOGIES TO OVERWEIGHT FROM NEUTRAL; RAISES TARGET PRICE TO EUR 48 FROM EUR 40

President Donald Trump said Friday at the White House that he does not want a ceasefire in Iran, stating, “You don’t do a ceasefire when you’re literally obliterating the other side.” He expressed confidence the Strait of Hormuz, a key route for roughly a fifth of global oil and gas flows, will reopen “itself” despite reluctance from NATO allies and China to assist. Trump criticized allies for lacking “the courage” to help unblock the strait.

Alibaba Group and Tencent lost $66B in market value within 24 hours as investors punished China’s tech giants for unclear AI monetization plans. Alibaba’s US shares fell most since October, Tencent its worst in a year. Heavy AI investments in data centers, talent, and models worry investors amid a consumer downturn and Alibaba’s 67% quarterly net income drop. Analyst Catherine Lim notes markets await measurable revenue from AI via cloud, advertising, or transactions; without clarity, investor caution persists. US hyperscalers spend far more on AI.