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.
1333 ET - Kalshi's sports event contracts are still leading its business, Bank of America analysts say. Trading on sports currently makes up about 79% of Kalshi's exchange volume, the analysts say. They estimate the total addressable market for long-term prediction market volume for sports alone is $1.1 trillion. That equates to $10 billion in annualized revenue, the same target DraftKings has pinpointed for its new predictions business. The analysts attribute Kalshi's growth in sports to the fact that it can offer a sports-betting equivalent in states where online gambling is illegal and to a younger cohort than betting platforms can. (katherine.hamilton@wsj.com)
1151 ET -- Given a series of delays and shakeups in Meta Platforms' artificial-intelligence organization, as well as the disappointing release of its previous Llama 4 AI model, Meta's new Muse Spark model is surprisingly impressive, Mizuho analysts write in a note. Muse Spark scored a 52 on the Artificial Analysis Intelligence Index, putting it within the top five benchmarked models. (Llama 4 Maverick, for comparison, scored an 18.) Muse Spark is also quite token-efficient given its capabilities, the analysts write. "We believe this checks a box along the path to compete at the frontier," they write. (elias.schisgall@wsj.com)
1150 ET - The release of Muse Spark, a new artificial-intelligence model by Meta Platforms, improves the setup for the company's earnings, but Meta should provide details around monetization to reassure the market, Mizuho analysts write in a note. "We believe it will be critical for Meta to lay out more specifics around how it intends to productize its models beyond Meta AI chatbots, both from a product and monetization standpoint, to get investors comfortable with the magnitude of investment here," the analysts write. The analysts see monetization potential in Muse Spark's shopping mode and a possible tie in between Meta Business AI and WhatsApp for Business. (elias.schisgall@wsj.com)
1136 ET - Meta Platforms' new Muse Spark artificial-intelligence model is set up well to enable agentic commerce, Morgan Stanley analysts say in a note. Meta, like Google, can use its distribution and first-party data to push model adoption and improve the "human" feel of the shopping experience, they write, noting that the model already offers a shopping assistant. "This should be positive for conversion and a potential differentiator for Meta as 'trust' remains one gating factor holding back agentic purchase adoption," the analysts write. The model may not be exactly on par with the leading models, but the gap isn't as large as it could be - and the benchmarks matter less than Meta's ability to monetize its AI offerings, the analysts write. Meta is up 3.1% to $631.33. (elias.schisgall@wsj.com)
1112 ET - Canadian companies are in the early stages of adopting artificial intelligence, the technology is already replacing work with automation and having an impact on jobs. A Mercer poll of HR and talent professions at 170 Canadian businesses finds 52% are exploring but not yet committing to using AI. Yet already 35% of organizations are replacing tasks with AI, and another 42% say they are considering it. This shift in how work across the country is done is likely to affect administrative and clerical roles most, followed by corporate functions and customer service roles, Mercer says. It finds 77% of companies report no significant change in entry-level hiring volume in the past 12 months due to AI, though 11% have reduced entry-level hiring. And 29% of organizations expect a moderate reduction in workforce size, the survey shows. (robb.stewart@wsj.com)
1112 ET -- Netflix stands to benefit from a solid slate of content this year, including new seasons of popular shows such as "Bridgerton" and "Night Agent," continued film releases, a growing list of live events and a ramp-up in video games, UBS analysts say in a research note. Recent price increases and the continued scaling of ad-supported revenues should provide further upside, the analysts add. Looking ahead, engagement will remain the main focus among investors. "While Netflix continues to slowly grow share of total TV viewing in the U.S., its share of streaming viewership remains under pressure," the analysts write. (connor.hart@wsj.com)
1051 ET - Coinbase Institutional says that if bitcoin holds above $72,000 to $77,000 it "favors a breakout to $80K, however the band of strong resistance has widened so playing this could be difficult." A rejection of $72,000 favors a mean reversion to around $65,000, the firm says in a note. Should bitcoin claw its way back to $80,000, then that would be the highest its traded at since early February. Bitcoin is down 1% to $70,661, according to data from LSEG. (kirk.maltais@wsj.com)
1000 ET - Netflix's recent price increases seem to be indicative of its new content strategy: quality over quantity. The new strategy is much more expensive than Netflix's previous mantra, which highlighted quantity as its differentiating factor from other streaming services, Benchmark analyst Daniel Kurnos says in a research note. Kurnos also says he isn't too concerned Netflix's higher subscription prices will increase churn. He models that Netflix can grow revenue at a mid-teens rate over at least the medium term. The bigger question is engagement, a metric Netflix is looking to improve with its new focus on quality, Kurnos says. (connor.hart@wsj.com)
0944 ET - Amazon is investing in its ultra-fast delivery infrastructure, says Chief Executive Andy Jassy in his shareholder letter. The company's drone delivery service, which aims to deliver inside 30 minutes, "now has a design that'll scale, plans to serve communities with 30 million customers by year-end, and expects to deliver half a billion packages by the end of this decade," Jassy says. Meanwhile, the company is also starting to expand Amazon Now, which delivers within 20 minutes, to the U.S. and Europe. In India, Amazon Now orders are increasing 25% month-over-month, with Prime members tripling their shopping frequency once they start using it, Jassy says. (nicholas.miller@wsj.com)
0941 ET - Amazon Web Services is growing rapidly but it could be growing even faster if it were not for "capacity constraints that yield unserved demand," says Chief Executive Andy Jassy in his shareholder letter. He says that two AWS customers have asked to buy all of Amazon's custom CPU chip Graviton instance capacity in 2026. "We can't agree to these requests given other customers' needs, but it gives you an idea of the demand," Jassy says. AWS added 3.9 gigawatts of new power capacity in 2025 and expects to double capacity by the end of 2027. (nicholas.miller@wsj.com)
0938 ET - Amazon has several more unannounced customer agreements that make its capital expenditure investments predictable, Chief Executive Andy Jassy says in his shareholder letter. "We're not investing approximately $200 billion in capex in 2026 on a hunch," he says. The recent OpenAI commitment of over $100 billion is an example, but "there are several other customer agreements completed (and unannounced), or deep in process." Of the Amazon Web Services capital expenditures expected in 2026, much of it will be monetized in 2027 and 2028, Jassy says. "We already have customer commitments for a substantial portion of it." (nicholas.miller@wsj.com)
0936 ET - Amazon is willing to make big capital expenditure investments and take hits to free cash flow in the short-term to get the long-term benefits of the AI boom, Chief Executive Andy Jassy says in his shareholder letter. "AI is a once-in-a-lifetime opportunity where the current growth is unprecedented and the future growth even bigger," Jassy says. "We're not going to be conservative in how we play this-we're investing to be the meaningful leader, and our future business, operating income, and FCF will be much larger because of it." (nicholas.miller@wsj.com)
(END) Dow Jones Newswires
April 09, 2026 16:50 ET (20:50 GMT)
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