(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator. See today’s video update from Mike above.) The market’s ability to absorb the unwind of the AI-infrastructure trade is being tested more urgently; its efforts to rotate away from danger by moving to banks, value stocks and consumer cyclicals hitting…

CNBC’s Jim Cramer on Wednesday expressed trepidation about circular transactions between tech companies as Wall Street weighs the value of artificial intelligence heavy hitter OpenAI. “These days, we’re constantly hearing about what I’d call these ‘Lazy Susan’ deals, except they’re being celebrated as good news for both parties,” he said. To Cramer, a “Lazy Susan”…

Military vehicles queue to launch U.S.-made TOW A2 missiles during a live firing exercise in Pingtung county on July 2023. Sam Yeh | Afp | Getty Images The U.S. on Thursday approved its largest arms sale to Taiwan, at $11.15 billion, as the island faces growing threats from China and has been a subject of…

Starbucks and Burger King are betting big on a partnership model that’s gaining traction in China: selling majority stakes to local private equity firms as the battle for market share rages on. Foreign food-and-beverage chains once thrived in China without adapting much — premium Western products practically sold themselves. Today, decisions made from distant headquarters…