Artificial Intelligence 6 March 2023 - 2 February 2024

Constellation Energy shares rose 8% for the holiday-shortened week, closing at $274.06, with the next focus on whether new grid rules and project approvals will convert AI-driven power demand into cash flow. Broadcom gained 4.7% to $411.35, its second straight advance, though it remains well below its June 3 high as investors question the sustainability of AI-related optimism. Dell closed at $409.50, down 2.34% for the session but still up about 3.5% since June 12. Palantir ended June 18 at $128.47, down 1.65% for the day but up 0.4% from June 12. Applied Digital closed at $46.59, up 2.24% for the day and 9.1% for the week, after completing a $1.59 billion senior-secured notes sale. Seagate finished at $1,070.23, up 0.39% for the day and nearly 15% for the week, with AI storage as a theme. Coherent rose 2.8% to $389.57 and signed a letter of intent for up to $50 million from the U.S. CHIPS Act. Applied Optoelectronics ended at $161.85, down 3.3% for the day and 4.3% for the week, with recent filings and management comments highlighted. Western Digital closed at $746.23, up 4.79% for the day and 32.6% for the week, outperforming the Nasdaq Composite. Sandisk rose 11.54% to $2,184.75, with the Philadelphia semiconductor index up 7% for the week and Micron’s earnings ahead. Vertiv climbed 4.87% to $333.05, up nearly 10% for the week, as AI data-center cooling remains a focus. U.S. markets were closed Friday for Juneteenth.