New York, Jan 27, 2026, 10:25 EST — Regular session
- Corning surged 12.9%, while CoreWeave climbed 8.5% amid a rush into AI data-center supply chain stocks.
- Micron jumped 4.8%, with Nvidia, AMD, and Broadcom gaining roughly 1% to 2% in early trading.
- Meta dipped 0.7% ahead of its earnings report scheduled for Wednesday.
Corning shares surged to $107.18, with CoreWeave gaining ground at $106.65 on Tuesday, leading a group of AI-related stocks that have been acting as a proxy for data-center expansion bets. Nvidia ticked up 1.0%, while AMD and Broadcom each advanced roughly 1.5%; Micron outpaced them all. Meta shares slipped.
The market is focused on distinguishing “AI demand” from “AI bills” at this moment. Traders are zeroing in on where the spending hits — cables, chips, memory, and the equipment used to produce them — as a packed earnings week sheds new light on spending strategies.
Meta announced plans to pay Corning as much as $6 billion over the coming years to provide fiber-optic cables and connectivity equipment for its AI data centers. Corning will boost its production capacity in North Carolina. CEO Wendell Weeks described the move as an effort to “strengthen domestic supply chains,” according to statements released alongside the deal. 1
CoreWeave’s shares jumped after Nvidia revealed a $2 billion stake on Monday, making the chip giant the AI cloud provider’s second-largest backer, according to Reuters. The company, part of the so-called “neoclouds” that lease high-end AI chips, said the funding will support securing land and power as it aims for over 5 gigawatts of data-center capacity by 2030. CEO Michael Intrator described the move as proof of “the strength of demand” CoreWeave is experiencing. 2
Micron announced plans to invest $24 billion in a chip manufacturing facility in Singapore over the next ten years, targeting a relief in memory shortages driven by AI demand. The company expects wafer production to kick off in the latter half of 2028. Alongside this, Micron is constructing a $7 billion high-bandwidth memory (HBM) packaging plant in Singapore, slated to begin output in 2027. HBM is a memory type stacked close to AI processors to enhance data transfer speeds. TrendForce analyst Bryan Ao warned that enterprise solid-state drive contract prices could surge 55% to 60%, as demand continues to outpace supply. 3
In Europe, investors are zeroing in on ASML, the Dutch company that leads in extreme ultraviolet (EUV) lithography — the chip “printer” essential for cutting-edge semiconductors. Analysts told Reuters that all eyes will be on Wednesday’s earnings report to see if ASML raises its 2026 guidance. John West of the consultancy Yole Group described EUV as “the only game in town.” 4
Big Tech earnings hit the spotlight this week, with Microsoft and Meta set to report on Wednesday. Investors want proof that their hefty spending is driving real growth. Reuters noted that Microsoft, Meta, and Amazon plan to boost their AI budgets by 30%, pushing total investment past $500 billion this year. David Wagner, head of equities at Aptus Capital Advisors, warned that “proprietary ecosystems” remain tough to penetrate as the focus shifts from flashy demos to actual distribution and cash flow. 5
That said, the trade has its vulnerabilities: budgets often climb faster than revenue, and physical limits are tangible. Power, networking equipment, and memory may all create bottlenecks, with any slip in guidance likely to hit the high-multiple stocks hardest.
Wednesday brings a triple whammy: Meta and Microsoft report in the U.S., while ASML delivers its update from Europe. Investors will zero in on capex plans and fresh clues about capacity — who’s ready to ship, and on what timeline.
