Markets
Tech Leads Broad Rally as AI Infrastructure Spend Accelerates
Semiconductor and hyperscaler stocks extended gains as AI infrastructure spending continues to drive earnings beats across the sector.
The Nasdaq Composite climbed 1.4% Monday as investors rotated back into large-cap technology names following last week’s brief pullback. NVIDIA led the move, rising 3.2% after Bernstein raised its price target citing data center demand visibility through 2027.
Microsoft and Alphabet each added roughly 1.5%, with analysts noting that enterprise AI adoption curves are steeper than originally modeled. Microsoft’s Azure AI revenue run-rate is now estimated above $15B annualised, a figure that would have seemed implausible eighteen months ago.
The CANSLIM screen this week flagged four names meeting all seven criteria simultaneously — the highest count since March 2024. Full picks available in the CANSLIM section.