WS #10439

The dominant signal in this window is the ongoing AI talent exodus from Alphabet (GOOGL), with DeepMind VP John Jumper leaving for Anthropic, compounding the earlier departure of Noam Shazeer to OpenAI. This has driven GOOGL down ~6-7%, erasing ~$295B in market cap. Separately, the U.S. has authorized Iranian oil sales for 60 days as part of peace talks, a counter-signal to the Strait of Hormuz supply disruption narrative. Tesla (TSLA) shares are surging on a Megapod trademark filing for modular AI infrastructure. Defense stocks are trading lower as U.S.-Iran peace process remains intact. The IEA reports the Strait of Hormuz closure has triggered the largest oil supply disruption in history, but the Iranian sales authorization partially offsets this. Alan Greenspan's death at 100 is noted but unlikely to move markets. The Ethereum Foundation talent exodus continues with co-executive director Hsiao-Wei Wang stepping down, adding to at least eight senior departures. SpaceX has signed a $6.3B compute deal with Reflection AI, signaling continued AI infrastructure demand.