Wednesday, September 02, 2026

Markets were lower on Tuesday — SPY closed at $761.78, down 0.69%, and QQQ closed at $707.64, down 1.27%. The 523 AI infrastructure stocks we track underperformed the S&P benchmark by 1.00 percentage points, with an average move of -1.69% on 104 advancers, 414 decliners, and 5 flat. Utilities & Energy led at +1.22%; Software & Design lagged at -4.05%. FRVO (Fervo Energy Co.) was the standout, up 28.4%, while BW (Babcock & Wilcox Enterprises, Inc.) fell 9.3%. Today’s macro calendar includes mortgage-rate data at 11:00, ADP employment at 12:15, factory orders, EIA crude and gasoline storage, and the Fed Beige Book at 18:00. Earnings today are headlined by AVGO (Broadcom Inc.) and HPE (Hewlett Packard Enterprise Company), with CIEN (Ciena Corporation) reporting tomorrow.

DELL (Dell Technologies Inc.) reported second-quarter fiscal 2027 EPS of $7.04, well above the $4.91 estimate.

CRDO (Credo Technology Group Holding Ltd) reported fiscal first-quarter 2027 EPS of $1.20, above the $1.17 estimate. The stock dropped 8.6% in the prior session. Credo’s AEC and high-speed connectivity business remains a direct read on AI data center networking.

PANW (Palo Alto Networks, Inc.) reported EPS of $1.02, above the $0.978 estimate. It is a cybersecurity result within the universe, less directly tied to the AI infrastructure buildout.

Fervo Energy Co. led the advance on Tuesday. FRVO (Fervo Energy Co.) gained 28.4%, the largest move in the tracked universe.

Cerebras and Compute Nordic Finland announced a 165 MW AI data centre in Mikkeli, Finland. CBRS (Cerebras Systems Inc.) said the project pairs its compute systems with Nordic data centre development. The project expands European AI compute capacity outside the more established Northern Virginia and Frankfurt corridors.

Bitdeer acquired 200 acres near its Rockdale facility in Milam County, Texas. BTDR (Bitdeer Technologies Group) said the land will support AI/HPC infrastructure development. The site adds room for power-connected HPC expansion around its existing Texas operations.

Comstock announced a $1.65 billion strategic partnership and a $450 million drilling joint venture with Jerry Jones. CRK (Comstock Resources, Inc.) said the agreements will expand natural gas development. Comstock is a Haynesville-focused producer, and the announcements followed an 11.0% gain in the prior session.

AVGO (Broadcom Inc.) reports today, with consensus EPS at $3.22. Broadcom’s custom AI XPU and Ethernet switching businesses are a direct read on hyperscaler silicon demand. It is a central print for the silicon and networking coverage.

HPE (Hewlett Packard Enterprise Company) also reports today, with consensus EPS at $0.932. HPE’s AI server orders and GreenLake commentary will indicate enterprise AI infrastructure adoption.

CIEN (Ciena Corporation) reports Thursday, with consensus EPS at $1.73. Ciena is a direct read on optical transport and data center interconnect; AI-driven bandwidth growth is the key swing factor.

NTAP (NetApp, Inc.) reports today as well, with consensus EPS at $2.12. NetApp’s enterprise storage commentary is a secondary signal for AI data management and on-premises AI infrastructure.

BBCP (Concrete Pumping Holdings, Inc.) reports Thursday, with consensus EPS at $0.08. Concrete pumping is an inferred supplier to data center-focused REITs such as DLR (Digital Realty Trust, Inc.) and EQIX (Equinix, Inc.); watch for commentary on data center construction demand.

TTC (The Toro Company) reports Thursday, with consensus EPS at $1.31. Watch for Toro’s commentary on professional and infrastructure-equipment demand.