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Artificial Intelligence 20 June 2026 - 22 June 2026
Nokia shares declined in both Helsinki and New York, with no new profit warning as the company continues to adjust to AI-infrastructure trends ahead of its Q2 closed window. U.S. stocks recovered from weekend concerns as diplomatic progress between the U.S. and Iran eased oil prices, while AI stocks advanced. SK Hynix surpassed Samsung as South Korea’s largest listed company, driven by memory chip demand. SpaceX shares remain well above their IPO price despite recent profit-taking and investor debate following its $60 billion all-stock acquisition of Cursor/Anysphere. Micron’s upcoming fiscal Q3 report is seen as a key test for the AI-driven chip rally, with high expectations posing a risk. GE Vernova, Vertiv, and Eaton posted strong gains, and U.S. regulators gave grid operators 60 days to address rules for connecting large electricity users like data centers. The S&P 500, Nasdaq, and Dow all rose last week, with upcoming May PCE inflation data and Micron’s earnings seen as important events. Congressional filings revealed significant holdings in major tech stocks by a lawmaker’s spouse. Nvidia and other chip stocks helped lift the Nasdaq, with Marvell set to join the S&P 500. ARK Investment Management made a large purchase of Snowflake shares after the company raised its outlook and announced a major AWS deal. Constellation Energy and Broadcom both gained, though questions remain about the sustainability of AI expectations. Several companies, including Dell, Palantir, Applied Digital, Seagate, Coherent, Applied Optoelectronics, and Western Digital, reported notable price movements, with Western Digital outperforming the Nasdaq over the week.