New York, June 29, 2026, 16:53 (EDT)
- U.S. stocks traded Monday. Nasdaq’s calendar shows July 3 as the next holiday closure in 2026.
- The AI trade in June divided between names that sell bottleneck capacity and others backing the build-out.
- Recent quotes put stocks with the AI tag trading anywhere from 13.5 times to 130.0 times trailing earnings.
- Investors now have firmer revenue yardsticks in memory, custom chips and data-center power gear, rather than just broad AI software pitches.
U.S. AI stocks closed out June showing a more defined split than earlier in the month. On one side were suppliers with signed AI orders. On the other, big spenders and software names trading at high multiples. NVIDIA NASDAQ:NVDA, Broadcom NASDAQ:AVGO, Micron Technology NASDAQ:MU and Vertiv NYSE:VRT gave investors new operating numbers tied to their AI business. Microsoft NASDAQ:MSFT, Alphabet NASDAQ:GOOGL, Amazon.com NASDAQ:AMZN and Meta Platforms NASDAQ:META remained key to demand, but the market focus moved in June to how the spending gets funded and what kind of payback investors can expect.
| Company | AI exposure | Latest quote vs previous close | Trailing P/E |
|---|---|---|---|
| NVIDIA NASDAQ:NVDA | Accelerators, networking | up 1.2% | 29.7x |
| Micron Technology NASDAQ:MU | HBM, data center memory | up 1.3% | 25.9x |
| Broadcom NASDAQ:AVGO | Custom AI chips, networking | up 2.1% | 97.6x |
| Vertiv NYSE:VRT | Power, cooling | up 1.0% | 77.1x |
| Dell Technologies NYSE:DELL | AI servers | up 3.7% | 33.0x |
| Super Micro Computer NASDAQ:SMCI | AI servers | down 8.2% | 13.5x |
| Microsoft NASDAQ:MSFT | Cloud AI buyer | down 1.2% | 21.9x |
| Alphabet NASDAQ:GOOGL | Cloud AI buyer, models | up 4.8% | 27.0x |
| Amazon.com NASDAQ:AMZN | Cloud AI buyer | up 3.2% | 28.7x |
| Palantir Technologies NASDAQ:PLTR | AI applications | up 2.4% | 130.0x |
That spread is what June has been about. AI names are not moving together now. When a stock looks cheap, it can signal risks like cycles, customer mix or supply. Expensive ones have to show they can grow AI sales ahead of the cost curve.
| Company | Fresh June data investors can test |
|---|---|
| NVIDIA NASDAQ:NVDA | NVIDIA posted first-quarter fiscal 2027 revenue of $81.6 billion. Data Center revenue came in at $75.2 billion, up 92% year-on-year. |
| Broadcom NASDAQ:AVGO | Broadcom’s AI semiconductor revenue hit $10.8 billion for the fiscal second quarter, up 143%. The company is guiding for $16.0 billion in AI semiconductor sales in the third quarter. |
| Micron Technology NASDAQ:MU | Micron reported $41.46 billion in revenue for its fiscal third quarter, with non-GAAP EPS at $25.11. Fourth-quarter revenue is guided to $50.0 billion, plus or minus $1.0 billion. |
| Vertiv NYSE:VRT | Vertiv put up $2.65 billion in net sales for Q1, a 30% increase. Full-year 2026 outlook for net sales is $13.5 billion to $14.0 billion. |
NVIDIA CEO Jensen Huang said AI factory buildouts are picking up speed fast, following a quarter where the company posted record Data Center compute revenue of $60.4 billion and networking revenue of $14.8 billion.
Broadcom CEO Hock Tan linked the results to “increasing demand for custom AI accelerators and AI networking.” He said third-quarter AI chip revenue is set to jump over 200% year-on-year. Broadcom Inc.
Micron put out a strong June read on memory, with CEO Sanjay Mehrotra saying data-center revenue topped $25 billion in the fiscal third quarter. That’s an annualized rate of more than $100 billion. He said DRAM and NAND demand is still running ahead of supply. In the company statement, Mehrotra said multi-year deals with customers should make financial results steadier and more predictable.
Vertiv CEO Giordano Albertazzi said buyers are focused on “optimized design, deployment speed, and operational efficiency” as AI data centers run into limits beyond just chip supply. The company boosted its full-year outlook after Americas organic sales jumped 44% on stronger data-center demand. Vertiv Investors
On the funding side, Reuters said Monday that Amazon and Alphabet have raised $60 billion in bonds across different currencies in the last year. BNP Paribas put hyperscaler capex for the year near $725 billion. Barclays, cited by Reuters, said AI-tied debt is now close to 15% of the U.S. investment-grade market.
“Alphabet and Amazon have moved into markets in Europe, Canada, and Asia,” said Teddy Hodgson, global co-head of investment-grade debt at Morgan Stanley. Victoria Fernandez at Crossmark Global Investments said recurring bond sales could turn into a problem. Jeff Given from Manulife Investment Management expects demand to hold up as long as hyperscalers and data centers are still spending. Reuters
The June AI roundup isn’t really about AI demand anymore—it’s about who gets cash in the door first. Last week, Reuters said Micron and Qualcomm’s forecasts helped tack on more than $400 billion to chip stocks after hours, despite the PHLX chip index dropping 8% the day before on fears about stretched valuations and how long AI spending takes to pay back.
Stocks in the U.S. moved higher Monday. The S&P 500 added 1.16% while the Nasdaq Composite climbed 2.04% as big tech shares led a comeback. Tech and chip stocks had dropped on worries over AI spending, Reuters said, but bounced back on Monday.
