WS #12688

The dominant signal in this window is a sharp oil price decline of over 5%, driven by reports that China and Pakistan are pressuring for renewed US-Iran peace negotiations, with Brent falling to ~$95 and WTI to ~$88. This counters the previous escalation narrative and provides a significant counter-signal to the bullish energy thesis. Separately, a major AI infrastructure deal was announced: Nvidia and SK Group launched a $500+ billion joint initiative for AI data centers and next-gen memory, with Samsung and SK Hynix also unveiling $950 billion in US chip supply partnerships. This is a strong positive for the semiconductor and AI sectors. Additionally, the US announced Section 301 tariffs on 60 economies, including a 10% duty on certain Taiwan goods, which could impact tech supply chains. The Iran conflict narrative is DE-ESCALATING due to the diplomatic push, while the AI infrastructure buildout is ESCALATING.