Monday, October 05, 2026

At Friday's close, SPY gained 0.74% to $769.64, and QQQ added 1.02% to $749.58. The 524 AI infrastructure stocks we track outperformed, rising an average 1.73% with 407 names advancing and 111 declining. Silicon Design led the tape at +3.65%, while Software & Design was the softest segment at +0.16%. NNBR (NN, Inc.) was the standout gainer in Friday's session at +24.2%, following its $50 million private placement; WDC (Western Digital Corporation) and STX (Seagate Technology Holdings plc) were the largest decliners at -10.2% each, with no news on file for either move. Today's earnings calendar: AEHR (Aehr Test Systems) reports today; PENG (Penguin Solutions, Inc.), CHRN (ChronoScale Corporation), RPM (RPM International Inc.), and WS (Worthington Steel, Inc.) report Tuesday; APLD (Applied Digital Corp.) and RELL (Richardson Electronics, Ltd.) report Wednesday.

Flex lands $2.0 billion Axiom convertible preferred investment. FLEX (Flex Ltd.) said it agreed to sell $2.0 billion of Series A Convertible Preferred Stock in Axiom Solutions International, its Cloud and Power Infrastructure segment, to General Catalyst, Koch Equity Development, and co-investors at an initial Axiom enterprise value of $37.5 billion. The preferred pays a 10% annual cash dividend before separation, then 6% cash or 7% paid-in-kind after the split. Flex plans to separate Axiom into an independent, publicly traded company in the first quarter of calendar 2027, and net proceeds will fund a portion of the pending EPC Power acquisition, repay bridge financing, and support working capital. Axiom is where Flex houses cloud and power infrastructure for AI deployments; the separation gives the unit dedicated equity currency to chase power, thermal, and compute infrastructure demand.

TeraWulf expands Muskie Data Campus contracted power to 1 GW. WULF (TeraWulf Inc.) executed an amended and restated electric service agreement with Kentucky Power, an AEP company, raising contracted power capacity at its Muskie Data Campus in eastern Kentucky from 500 MW to 1 GW. The amendment moves the second 500 MW phase into 2029 from 2030, subject to Kentucky Public Service Commission approval and Kentucky Power's construction schedule; the first 500 MW phase remains targeted to begin ramping in 2028. TeraWulf continues to evaluate the site's potential for up to 2 GW. The company acquired Muskie in May 2026 for phased development as an AI and high-performance computing campus, and the expansion gives prospective customers longer-duration power availability for HPC deployments.

Applied Optoelectronics closes $600 million at-the-market offering. AAOI (Applied Optoelectronics, Inc.) completed its previously disclosed $600 million ATM equity program, selling 5,694,845 shares at an average price of $105.36 per share for net proceeds of $587,999,985.89 after commissions and fees. The company said proceeds support investments in production and R&D equipment as it scales advanced manufacturing capacity for high-speed optical connectivity in AI data centers. AAOI's confirmed supply relationships include MSFT (Microsoft Corporation) and ORCL (Oracle Corporation); the capital raise directly funds capacity for AI optical demand.

Vistra extends commodity-linked revolver maturity to September 2027. VST (Vistra Corp.) disclosed that subsidiary Vistra Operations Company LLC amended its Commodity-Linked Credit Agreement effective September 30, extending the revolving credit maturity date from September 30, 2026 to September 29, 2027. The amendment also made other changes consistent with the terms of the borrower's corporate credit agreement. Relationship data confirms Vistra supplies META (Meta Platforms, Inc.) and that NVDA (NVIDIA Corporation) supplies Vistra. The amendment is a balance-sheet liquidity move, not a change to capacity, but it supports Vistra's flexibility as it finances power generation projects.

AEHR (Aehr Test Systems) reports today. The estimate is $0.11 per share. Aehr's test and burn-in systems are used by semiconductor manufacturers; the report is an early read on chip production capacity expansions. Its bookings commentary could inform expectations for AI chip packaging and test demand.

APLD (Applied Digital Corp.) reports Wednesday with a consensus EPS estimate of -$0.295. Applied Digital is a data center operator building AI-focused capacity; the report is a key universe read this week because it will show contracted capacity, construction progress, and financing terms for AI data centers.

PENG (Penguin Solutions, Inc.) reports Tuesday; consensus EPS estimate is $0.772. Penguin Solutions provides integrated AI/HPC infrastructure and services, including design, deployment, and managed services. It gained 11.6% in Friday's session with no news on file; this report will show whether that move was linked to order flow or positioning.

RELL (Richardson Electronics, Ltd.) reports Wednesday; estimate is $0.09. Richardson Electronics is a distributor of engineered solutions including power grid tubes and RF/microwave components; its results can be an indirect read on industrial and semiconductor-related component demand.

CHRN (ChronoScale Corporation) reports Tuesday; estimate is -$0.09. Relationship data lists CHRN as an inferred supplier to AMD (Advanced Micro Devices, Inc.) and AMZN (Amazon.com, Inc.), among others. No actual results are available yet.

RPM (RPM International Inc.) reports Tuesday; estimate is $1.95. Relationship data lists RPM as a confirmed supplier to AMZN (Amazon.com, Inc.) and a confirmed competitor to PPG (PPG Industries, Inc.) and AMRZ (Amrize Ltd). No actual results are available yet.

WS (Worthington Steel, Inc.) reports Tuesday; estimate is $0.92. No actual results are available yet, and no company-specific story was provided in the source data.