Sunday, September 06, 2026

SPY slipped 0.39% to $770.19 on Friday, while QQQ firmed 0.18% to $718.96. Our 523-stock AI infrastructure universe outperformed the S&P 500 by 1.78 percentage points, advancing 1.39% on average with 362 names up, 153 down, and 8 flat. Silicon design led with a 3.05% average gain, while the two-stock other layer lagged with a 4.33% decline. The standout mover was BBCP (Concrete Pumping Holdings, Inc.) at +16.0%, and the biggest decliner was NLST (Netlist, Inc.) at −9.1%. No major universe earnings are due today; this week ABM (ABM Industries Inc.) reports Tuesday, OCC (Optical Cable Corporation), PPIH (Perma-Pipe International Holdings, Inc.), and CNM (Core & Main, Inc.) report Wednesday, and ORCL (Oracle Corporation) reports Thursday.

Bloom Energy is set to join the S&P 500. S&P Dow Jones Indices announced Friday that BE (Bloom Energy Corporation) will be added to the index. The move places one of the more visible fuel-cell power suppliers to the AI data center complex into the main passive benchmark, likely increasing institutional ownership and trading liquidity. Bloom has been a direct public power name tied to AI data center deployments, and index inclusion could broaden its investor base during a period when utilities and power equipment names are under scrutiny for capacity and lead times.

Nano Nuclear Energy signed a memorandum of understanding with a fuel cycle and deployment partner. NNE (Nano Nuclear Energy Inc.) said the agreement will cover U.S. nuclear fuel cycle, microreactor deployment, and energy infrastructure. The tie-up is an early-stage signal that small and micro-scale nuclear is being positioned as a power option for hard-to-serve industrial and data center loads, with the company working to move from design-and-licensing work toward deployment.

CRH moved closer to completing its acquisition of Arcosa. ACA (Arcosa, Inc.) shareholders approved the combination with CRH (CRH plc), the companies said Friday. The transaction increases CRH's construction-materials and infrastructure footprint in North America, and Arcosa's aggregates and construction products become part of a larger platform serving civil, energy, and industrial projects. The approval clears a procedural step toward closing a deal that expands the supply of heavy building materials available to large-scale project sites.

Oracle reports Thursday. ORCL (Oracle Corporation) carries an EPS estimate of $1.74. The report is a direct read on cloud database and OCI demand, with remaining performance obligations and data center capacity commentary acting as a proxy for AI service revenue durability. It also matters for the power, cooling, and construction names that serve Oracle's buildout.

ABM reports Tuesday. ABM (ABM Industries Inc.) has consensus EPS of $1.01. As a provider of integrated facility services to mission-critical buildings, its data center and technical solutions commentary is a read on operating-expense intensity and facility management demand tied to AI capacity. Guidance for the technical solutions and engineering segments will matter most.

Three smaller infrastructure names report Wednesday. OCC (Optical Cable Corporation), PPIH (Perma-Pipe International Holdings, Inc.), and CNM (Core & Main, Inc.) post results. Optical Cable covers harsh-environment fiber connectivity; Perma-Pipe covers piping and containment systems; Core & Main is tied to water and utility distribution. Estimates are $0.20, $0.55, and $0.919, respectively, and each provides a narrower but specific signal on physical infrastructure that runs alongside data center and power projects.