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Intel shares soared nearly 14% Friday after the Wall Street Journal reported Apple and Intel have reached a preliminary agreement for Intel to manufacture processors for Apple devices. The deal diversifies Apple away from sole reliance on TSMC, with production potentially beginning in 2027. Intel stock has more than tripled in 2026, hitting an all-time high of $94.10.
Nvidia has now committed over $40 billion in equity investments in 2026, led by a massive $30 billion stake in OpenAI. This week alone, the company announced a $3.2 billion investment in Corning for optical infrastructure and $2.1 billion in data center operator IREN. The strategy extends Nvidia's reach across the entire AI infrastructure stack.
Dell Technologies surged 13% to $260.46 Friday after President Trump urged Americans to "go out and buy a Dell" at a White House event. Beyond the headline, Dell locked in over $64 billion in AI-server orders for fiscal 2026 and enters fiscal 2027 with a $43 billion backlog. Earnings due May 28.
Micron reached an $842 billion market cap this week, up over 750% in the past year. A global AI-driven memory shortage has given the company massive pricing power, with key customers reportedly getting only 50-65% of their requirements filled. Stock-split speculation is building.
Datadog shares jumped roughly 30% on May 7 after Q1 revenue hit $1.006 billion (up 32% YoY), beating estimates by $25 million. Non-GAAP EPS of $0.60 crushed the $0.51 consensus. Management raised full-year guidance to $4.3-4.34 billion, citing accelerating AI workload monitoring demand.
Palantir received a Buy rating from Argus on May 9 with a $190 target, and Citi raised its price target to $225 from $210 following blowout Q1 results (revenue +85% YoY to $1.63B, EPS $0.33 vs $0.28 expected). Despite the upgrades, shares experienced a 7% sell-the-news pullback after earnings given the 43x forward P/S ratio.
AMD reported Q1 revenue of $10.3 billion with data center segment hitting $5.8 billion, up 57% year-over-year. The stock is up approximately 25% in early May as Wall Street rotates AI chip enthusiasm beyond Nvidia. DA Davidson reset its price target for 2026.
Data center operator IREN surged after Nvidia committed $2.1 billion in equity investment. The deal includes an agreement for IREN to deploy up to 5 gigawatts of Nvidia's DSX-branded AI infrastructure across global facilities. The investment is part of Nvidia's strategy to secure dedicated AI compute capacity.
Guggenheim downgraded GitLab to Neutral from Buy and removed its $50 price target, citing "more pronounced AI risk." The firm noted over 30% of GitLab's ARR is under stress as AI coding tools reduce developer willingness to expand spending. Shares are down 43% year-to-date versus -25% for the IGV software ETF.
Stifel upgraded Texas Instruments to Buy from Hold and raised its price target to $250 from $215, projecting TXN's data center revenue will grow from 9% to 20% of sales by 2029 at a 35% CAGR. The firm expects a free cash flow inflection following six years of elevated capex.
