Insights on stocks, by experts you follow.

Pulse

• The AI building boom keeps getting bigger. Data‑center leasing hit a record in Q2, chip prices are leaping, and memory makers are sold out for years. The demand side is as strong as ever.
• But investors are nervous. Hedge funds are selling tech at a record pace, and money has drained out of semiconductor ETFs. The market is waiting for proof that the spending will continue.
• Google reports earnings this week. If it says it will keep pouring money into AI infrastructure, that could flip the mood from fear back to confidence. If not, the recent bounce may fizzle.
• AI‑cloud providers and optical stocks are surging anyway, lifted by new customer deals and Nvidia’s disclosure of a big stake in one of them.

Tickers to watch

• $NBIS – Nvidia disclosed a 9.3% passive stake in the AI‑cloud company. @CKCapitalxx calls it the most bullish signal an AI firm can get; @aleabitoreddit says the filing solidifies positive sentiment for the sector.
• $MU – Memory prices keep climbing. KeyBanc sees DRAM up 15–20% in Q3, NAND up 30–40%, and HBM pricing resetting 100–150% higher in 2027. Morgan Stanley expects shortages to deepen through 2028. UBS thinks Micron could buy back over 40% of its shares by end‑2028. @firstadopter and @artinmemes note that major brokers are calling memory stocks oversold.
• $AMD – Two catalysts: Microsoft will deploy its Helios AI systems on Azure, and an analyst event this week may detail a co‑packaged optics (CPO) roadmap. @aleabitoreddit sees potential supply‑chain read‑throughs for $SIVE if AMD commits to CPO.
• $IREN – Raised its 2026 AI‑cloud ARR target to over $4B after signing $2.8B in new contracts. @aleabitoreddit and @amitisinvesting highlight the deal as fresh evidence that AI compute demand still far outstrips supply.
• $COHR / $AAOI – @crux_capital_ lays out the bull case: $COHR’s vertical integration, Nvidia’s $2B investment, and a margin‑improvement story; $AAOI’s in‑house laser fab is seen as its real advantage. Both stocks are bouncing in premarket trading.
• $NVDA – Still the strongest‑looking semiconductor trying to form a low, per @asklivermore. Its stake in $NBIS and its central role in the buildout keep it at the center of every AI conversation.
• $CRWV – BofA reiterated a Buy rating and a $140 price target, raising capex estimates to $34B. @amitisinvesting notes the firm expects margins to ramp sharply as data centers come online.

Also notable

• Chinese AI models now account for roughly 58% of the tokens used by U.S. firms on OpenRouter, up from under 10% in early 2025. @amitisinvesting reports DeepSeek is the most popular. The trend reinforces that AI demand is exploding, though it could pressure U.S. model pricing.
• @chriscamillo bought the dip in $BE after New Mexico rejected a gas‑pipeline permit for a big data center, calling it a classic overreaction. The stock fell, but he sees the setback as temporary.