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Micron is up about 4.46% in early action, pressing toward record highs ahead of its fiscal Q3 report due this week. The company guided to record revenue of $33.5B ± $0.75B at roughly 81% gross margin, and UBS analyst Timothy Arcuri has nearly tripled his target to $1,625, calling the HBM supply-demand imbalance "structurally durable." The AI-memory trade is the single hottest corner of the tape this morning.
SK Hynix dethroned Samsung Electronics on the KOSPI for the first time in roughly 25 years, with shares up more than 340% this year versus Samsung's ~200%. The chipmaker now controls the lion's share of high-bandwidth memory feeding Nvidia and Google AI systems, capturing 61% of the global HBM market in 2025. It's a vivid read-through for the entire AI-memory complex, including Micron.
Super Micro is rising about 5% premarket after GF Securities upgraded the AI-server maker to Buy with a $48 price target, the first bullish rating change following a stretch that erased roughly a quarter of the stock's value. The note frames the post-financing selloff and ~15% dilution as a compelling entry point given AI-server demand. The stock closed Thursday around $30.66.
Nvidia announced Halos for Robotics today, billed as the industry's first full-stack open safety system for physical AI, with Agility as the first partner to fold it into its robots. Separately, Nvidia says a record 35 AI HPC supercomputers are in development across Europe, claiming it powers over 90% of the continent's AI-factory buildout. The stock is roughly flat premarket near $210 as Iran headlines temper risk appetite.
Index futures are mixed: the Dow is up about 0.24% (+126), while the Nasdaq trails roughly -0.88% (-233) and the S&P 500 dips about -0.26%. Brent slid near $78 after Qatar and Pakistan said US and Iranian officials agreed on a roadmap toward a final deal within 60 days, and Treasury authorized Iranian oil sales for 60 days. Lower energy is a tailwind for cyclicals but tech is taking a breather.
Fresh off its blockbuster Nasdaq debut, SpaceX confirmed a $60 billion all-stock acquisition of AI coding startup Cursor, expected to close in Q3. No cash changes hands, Cursor holders convert into SpaceX Class A stock, and the deal feeds developer data into Grok's training pipeline via Musk's xAI. Cursor's tools are used by a reported 67% of the Fortune 500.
Alphabet's massive AI funding package remains a market talking point, an $80 billion-plus equity raise that totaled roughly $84.75 billion including a $40B at-the-market program. Berkshire Hathaway anchored it with $10 billion, buying Class A shares at $351.81 and Class C at $348.20. It's one of the loudest signals yet of conviction in the hyperscaler AI buildout.
IPO-watch item, not yet public: Anthropic has confidentially filed draft paperwork for a listing potentially as soon as this fall, after a $65 billion round at a $965 billion valuation that vaulted it past OpenAI (~$852B). The company expects roughly $10.9 billion in Q2 revenue and says annualized run-rate revenue will top $50 billion. OpenAI is said to be readying its own confidential filing.
Palantir remains a 2026 underperformer, down roughly 19% year-to-date even as AIP demand drives an eleventh straight quarter of accelerating growth, with Q1 revenue up 85% and US commercial up 133%. Management lifted full-year guidance to about $7.66 billion, implying ~71% annual growth. The valuation debate keeps the high-flyer choppy.
The semiconductor bid is broad this morning: Sandisk is up about 5.96% and Intel gains roughly 3.19%, both swept up in the AI-driven memory and compute demand narrative. Record weekly inflows into US stock funds, a reported $119.2 billion as of June 17, underscore how aggressively money is chasing the chip trade. It's a rising-tide session for the picks-and-shovels names.
