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.

1458 ET - OpenAI is adding plug-in extensions to its AI models to help customers distribute their products more. App makers can build directly into ChatGPT and Codex, Chief Executive Sam Altman says during OpenAI's Development Day. Apps can also be discovered through the models, so when a user asks a question, ChatGPT can recognize if a plug-in would be helpful and suggest it. Users can also use the tokens they pay for through a ChatGPT subscription to use other company's programs, so businesses don't have to cover the cost of users' tokens, Altman says. (katherine.hamilton@wsj.com)

1244 ET - Investors are overly fixated on Netflix's slowing viewing trends in the U.S. and missing other positives for the company, Deutsche Bank analysts write in a note, updating the stock to buy. They note that the biggest domestic declines this year coincided with the Winter Olympics and World Cup, while international viewing data suggest consistent growth with a substantial runway. The company also has room to leverage its position as a platform -- optionality the analysts see as not priced in - and should, on net, benefit from AI adoption. Though the U.S. softness is real, the analysts write, "we believe the current valuation largely reflects these domestic risks while insufficiently differentiating Netflix's mature US business from its less- developed, higher growth international opportunity." Shares gain 2%. (elias.schisgall@wsj.com)

1237 ET - Xanadu Quantum Technologies offers a high-upside, pure-play investment in photonic quantum computing, says RBC's Paul Treiber, who initiates coverage with a speculative risk rating and a $16 price target. The analyst says that near-term stock upside will be driven by technical milestones, government funding, and strategic partnerships rather than immediate sales until its quantum data center goes online in 2029/2030. The risk exists because "Xanadu and most quantum computing peers have nominal near-term revenue, which makes benchmarking valuation difficult." However, Treiber says that Xanadu offers a "unique exposure to photonics-based quantum computing" as the company and sector ramp up to "quantum monetization" in 2030. Shares are up 2% to C$4.87 but down 55% year-to-date. (adriano.marchese@wsj.com)

1204 ET - Fair Isaac is dealing with two key negative developments, Deutsche Bank says in a note. Analyst Faiza Alwy says FHFA director Bill Pulte indicated that competitor VantageScore's 20 point discount to FICO has been removed and both scores will now be treated the same by the GSEs. "This would likely in and of itself result in higher number of mortgages that will see favorable pricing with VS4 vs. FICO Classic," Alwy says. Additionally, Rocket Mortgage said it will become the first mortgage lender to use VantageScore 4.0 as its preferred credit scoring model for all eligible loans, and during 4Q will default to VS4 for mortgages delivered to the federal housing agencies, VA home loans and any other eligible mortgages, according to Alwy. Fair Isaac tumbles 27%. (kelly.cloonan@wsj.com)

1143 ET - Select altcoins are posting big gains, with Avalanche (AVAX) up 8.8% to $11.54. Aave, the token native to the Aave DeFi platform, is jumping 17.3% to $175.40. For both Aave and AVAX, it's the highest the tokens have traded at since January. Interest in altcoins continues to drive recent cryptocurrency trading, with activity in altcoin at its highest since last October, according to analysts with CryptoQuant in a note. However, the firm also says, demand for bitcoin appears to be cooling in the short term, which may soon be a drag on altcoins. Bitcoin climbs 0.4% to $83,799, ethereum rises 1.2% to $2,712, and XRP is up 3.5% to $1.55. (kirk.maltais@wsj.com)

0951 ET - Major cryptocurrencies are mostly higher, with bitcoin up 1.2% to $84,479, ethereum rising 2.1% to $2,738, XRP climbing 3.8% to $1.55, and solana advancing 2.1% to $121.29. Altcoins--or tokens other than bitcoin--are seeing more interest and taking up a larger share of daily trading volume, according to data from Glassnode. The firm says that total spot volume in cryptocurrency trading is currently about four times that of bitcoin trading volume, suggesting that more buyers are piling into altcoins. CoinMarketCap's "Altcoin Season Index" sits at 61 out of 100, down from 63 yesterday but still close to the highest level seen in a year. (kirk.maltais@wsj.com)

0939 ET - Investors are underestimating the durability and breadth of artificial-intelligence spending, and the impact of that spending on European AI-related stocks, UBS analysts write. ASML, ASM International and Technoprobe are especially well-placed to benefit from AI spending, the analysts say. Investment in expanding AI capacity will benefit the companies that make highly specialized equipment used by chip makers, they say. ASML will likely raise its targets for capacity growth over 2027 and 2028, and will likely raise its year-on-year revenue growth guidance to above 30%--ahead of consensus estimates, the analysts say. ASML shares rise 3.8%, while ASM International shares jump 5.4%. Technoprobe shares jump 7.6%. (josephmichael.stonor@wsj.com)

0852 ET - CarMax is working to improve both its in-person and digital capabilities as part of its ongoing turnaround strategy. The used-car retailer has implemented AI voice technology across all of its inbound store and customer-experience-center calls, a move CEO Keith Barr says has enabled customers to more quickly resolve inquiries, or be connected to associates for help. The company has additionally redesigned parts of its website, making it easier for customers to find and buy the cars they're looking for, Barr says. "The enhancements we made this quarter supported sales conversion, and we anticipate further gains over time," he says. (connor.hart@wsj.com)

0834 ET - Artificial intelligence looks to be driving a mild productivity upturn in Europe, Oxford Economics' Leo Barincou says. "AI's productivity impact on Europe's economy is real, growing, and increasingly visible at the macroeconomic level, though it remains modest," he says in a note. Data suggests an upper-bound productivity boost of 0.1% a year since 2023, around a fifth of the overall 0.5% annual gain, he says. ICT productivity in the six most AI-ready EU countries outperform that in the six least ready by roughly 30% since early 2023, Barincou says. "We expect stronger productivity growth to continue, with subdued hiring as firms draw on hoarded labor and benefit from wider AI adoption and related labour savings," he says. (edward.frankl@wsj.com)

0833 ET - Oura is the latest buzzy startup to postpone its previously-announced initial public offering. Earlier this month, Anthropic pushed back its highly-anticipated IPO from October to November, and in recent days Holtec Nuclear and Bamboo Insurance have also delayed their planned IPOs. The moves comes as investors grapple with volatile oil prices and inflationary pressures.(kelly.cloonan@wsj.com)

0828 ET - Oura is postponing its high-profile public debut. The smart ring maker says it's delaying its listing "despite strong demand, due to uncertainty in the IPO market." Oura had made its IPO paperwork public earlier this month and was aiming to list on the Nasdaq as soon as this month. The company was expected to fetch a valuation well above the $11 billion it notched in a funding round last year. (kelly.cloonan@wsj.com)

0436 ET - CXMT's global revenue share could rise to 13% in 2028 from 10% this year, Bernstein analysts say in a research note. That implies an around 50% self-sufficiency rate for the DRAM needs of Chinese companies, they say. Non-Chinese companies are also likely to use CXMT's products for China and other non-U.S. markets, implying ample growth headroom for CXMT, they add. The chip maker's DRAM prices should largely follow the industry's before gaining resilience in 2028 on Chinese demand, the analysts say. Bernstein maintains its outperform rating on CXMT with a target price of 70 yuan. Shares last ended at 55.55 yuan.