New York, June 14, 2026, 07:43 EDT
- AI-related names in the U.S. come into this week following a bounce in the wider market. Chip makers and cloud-infrastructure firms still face pressure from rates, pricey valuations, and spending concerns.
- Markets are focused on the Federal Reserve’s June 17 meeting. Traders largely expect the Fed to keep its 3.50%–3.75% target range on hold.
- Nvidia’s annual meeting is set for June 24, with Micron due to report its fiscal Q3 results that day. The events are in focus for AI names.
AI stocks in the U.S. go into this holiday-shortened week with risk sentiment looking better but still shaky. The Dow, S&P 500 and Nasdaq all closed up Friday and posted weekly gains. Lower oil and some optimism around U.S.-Iran news helped. Investors also looked at SpaceX’s Nasdaq debut. The stakes are clear for Nvidia, AMD, Broadcom, Micron, Oracle and Super Micro Computer. These names usually get a lift when markets want growth and will pay up for it now, but they can sink fast if higher rates, big costs or soft guidance cloud the outlook.
AI stocks are moving on their own again. Nvidia closed at $205.19, barely changed. AMD jumped 4.7%. Broadcom fell 0.9%, Micron lost 1.4%. Oracle was flat. Super Micro tumbled 4.8%. The group’s mixed moves point to investors getting more selective, chasing names seen with earnings firepower and showing less patience for firms with shakier profit outlooks or riskier financing.
Bulls say AI is still driving earnings. Citing Goldman’s latest note out Sunday, they point to the S&P 500’s 9% gain this year, which the bank ties mainly to stronger earnings forecasts, not higher valuations. Return on equity is now at 22%—a new record for the first quarter. Bulls break it down like this: AI spending keeps bringing in real profits for semis, hardware, power, and cloud infrastructure. It isn’t just about speculation.
Oracle shares dropped 12% Thursday as investors balked at the growing price tag for AI capex like data centers and chips, as well as debt and equity needs. Reuters said Oracle is looking at about $70 billion in net capex for the fiscal year and is aiming to raise another $40 billion through debt and equity. The company’s free cash flow deficit is now $23.7 billion. Free cash flow covers what’s left after operations and investments; a deficit could mean more growth is coming from outside funding than from the business itself.
The concern came after a bigger chip rout earlier this month, wiping out about $1.3 trillion from U.S.-traded chipmakers when Broadcom’s report didn’t match the market’s custom AI-chip hopes. The PHLX Semiconductor Index dropped 10.3%, its worst day since March 2020. Still, Wells Fargo strategist Ohsung Kwon told Reuters, “I don’t think it’s the end of the (semiconductor) bull market.” The bounce back looked technical to some. Rick Meckler at Cherry Lane Investments called it “bargain hunting off the big tech selloff” to Reuters. Reuters
The Fed’s June 16–17 meeting is the key event traders are watching. According to Kiplinger, CME FedWatch put the odds of the federal funds rate holding at 3.50%–3.75% at 98.5%. Still, Chair Kevin Warsh’s press conference could move long-duration growth stocks. “Long-duration” means stocks betting on profits well out in the future—when yields climb, the market discounts those profits harder and share prices can take a hit, even if the companies are solid. May retail sales are set for release before the Wednesday open. Weekly jobless claims land on Thursday. NYSE markets will be shut Friday, June 19, for Juneteenth. Kiplinger
Nvidia holds its 2026 annual stockholder meeting online on June 24 at 9 a.m. PT. It’s not an earnings call, but investors are ready for any talk on AI demand, supply limits or capital plans. Micron reports fiscal Q3 numbers later that day after the close. That one goes straight to the core of the AI hardware trade, since memory chips drive data-center systems. Micron’s results could either back up or push back against the view that AI infrastructure demand is spreading beyond Nvidia.
For now, U.S. AI stocks don’t look broadly cheap. The group is still selective and carries risk. Nvidia is trading at a trailing P/E of about 31, AMD sits around 168, Broadcom at 98, Oracle is near 33 and Micron is at 46, based on market data. Those are high multiples unless earnings keep picking up fast. There’s not much cushion if the Fed takes a hawkish line, AI capex payoffs are slow to show, or companies need to raise more capital. This week the main question isn’t belief in AI, it’s whether rates, cash flow and management guidance can justify still paying up for exposure.
