SUN VALLEY, IDAHO - JULY 09: Robert Thompson, CEO of News Corp, and Ping Wang attend the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 09: Bill Gates, co-founded of Microsoft and co-chair of the Bill & Melinda Gates Foundation, and Paula Hurd ride in a golf cart at the the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 09: Bill Gates, co-founded of Microsoft and co-chair of the Bill & Melinda Gates Foundation, and Paula Hurd ride in a golf cart at the the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 09: Ron Olson, attorney and partner at Munger Tolles & Olson LLP, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

SUN VALLEY, IDAHO - JULY 09: Ken Langone, co-founder of Home Depot, attends the Allen & Company Sun Valley Conference at the Sun Valley Lodge on July 9, 2026 in Sun Valley, Idaho. Every year, some of the world's wealthiest and most powerful figures from the media, finance, technology, and political spheres converge at the Sun Valley Resort for the exclusive week-long conference hosted by boutique investment bank Allen & Co. (Photo by Kevin Dietsch/Getty Images)

CHICHESTER, ENGLAND - JULY 09: Adrian Newey the former Chief Technology Officer at Red Bull Racing and designer of the RB17 drives the RB17 on a display run during the Goodwood Festival of Speed at Goodwood Motor Circuit on July 09, 2026 in Chichester, England. (Photo by Simon Galloway/Getty Images)

CHICHESTER, ENGLAND - JULY 09: Adrian Newey the former Chief Technology Officer at Red Bull Racing and designer of the RB17 drives the RB17 on a display run during the Goodwood Festival of Speed at Goodwood Motor Circuit on July 09, 2026 in Chichester, England. (Photo by Simon Galloway/Getty Images)

FILE - Federal Communications Commission chairman Brendan Carr testifies before the House Committee on Energy and Commerce, Subcommittee on Communications and Technology oversight hearing of the Federal Communications Commission on Capitol Hill in Washington, Jan. 14, 2026. (AP Photo/Jose Luis Magana, File)