AI Stocks Pick Up Steam—and the Nasdaq Tests Records—Ahead of Big Tech Earnings

Group 1 - The Nasdaq Composite approached a new record high, driven by strong earnings reports indicating the ongoing boom in AI infrastructure [2][3] - The index opened at 23,986, its highest since early November, recovering from previous concerns about an AI bubble that affected tech stocks [3][4] - Investors are focusing on the booming businesses of companies supplying AI technology, setting aside previous worries about overspending [3][4] Group 2 - A shortage of memory and data storage technology has positively impacted earnings and stock prices of chip makers like Micron and storage device manufacturers such as Sandisk and Western Digital [5] - Taiwan Semiconductor Manufacturing reported record quarterly revenue and earnings, leading to increased infrastructure investments to meet demand, which boosted chip stocks [6] - ASML Holdings reported record quarterly orders, further supporting the rally in chip manufacturing equipment suppliers [6] Group 3 - Corning's shares surged 16% after securing a $6 billion deal with Meta for fiber optic technology, showcasing the broader benefits of the AI boom beyond just chipmakers [7] - GE Vernova raised its sales outlook for 2026 and 2028 following a surge in orders, while Amphenol, despite strong results, was the worst performer in the S&P 500 [9] - Both companies had significant stock price increases over the past year, with Amphenol up 140% and GE Vernova rising more than 90% [9] Group 4 - Upcoming earnings reports from Microsoft and Meta are critical, as both companies plan to significantly increase their AI infrastructure investments [10][11] - Investors are looking for confirmation of capital expenditures to ensure that massive investments in AI are yielding positive results [10][11]