Tuesday, September 08, 2026

Equities slipped in the prior session, with SPY down 0.37% to $767.33 and QQQ down 0.26% to $717.11. The 523-name AI infrastructure universe still outperformed: 353 names advanced, 168 declined, and the average move was +1.05%, or 1.42 percentage points ahead of SPY. Power generation led at +3.97%; software and design lagged at -2.37%. SEI (Solaris Energy Infrastructure, Inc.) was the standout at +14.9%, while MEI (Methode Electronics, Inc.) was the largest decliner at -6.4%. Today's earnings calendar is light with ABM (ABM Industries Inc.) reporting; the headline item this week is ORCL (Oracle Corporation) on Thursday, with OCC (Optical Cable Corporation), PPIH (Perma-Pipe International Holdings, Inc.), and CNM (Core & Main, Inc.) reporting Wednesday.

A new merchant silicon collaboration targets hyperscale AI infrastructure. QCOM (QUALCOMM Incorporated) announced a multi-generational product collaboration with AMZN (Amazon.com, Inc.) to build next-generation AI data center infrastructure. No unit volumes or financial terms were disclosed. The collaboration positions [QCOM] directly in AI data center compute, where it has not historically been the primary merchant accelerator supplier.

A nuclear restart received federal loan backing. The U.S. Department of Energy closed a loan of up to $1.9 billion to restart NEE (NextEra Energy, Inc.)'s Duane Arnold Energy Center. The project is intended to restore a large carbon-free generating asset and add firm around-the-clock capacity to the grid.

A 2GW ERCOT data center project secured base load status. IREN (IREN Limited) said its 2GW Sweetwater Hub was included as base load in ERCOT Batch Zero. The inclusion provides a firmer interconnection path for the power-backed data center project and supports the company's multi-gigawatt development pipeline.

High NA EUV readiness advanced on two fronts. ASML (ASML Holding N.V.) and TSM (Taiwan Semiconductor Manufacturing Company Limited) announced an initiative to pioneer the industry transition to large-format photomasks for High NA EUV. Separately, INTC (Intel Corporation) and [ASML] said they are collaborating to accelerate industry readiness for High NA EUV.

Data center facilities work produced a follow-on order. OESX (Orion Energy Systems, Inc.) announced an additional multimillion-dollar data center engagement with a major global hyperscaler, with the order following an inaugural multimillion-dollar initiative. The release points to repeat work in data center facilities and energy management infrastructure.

ABM reports today. Consensus EPS estimate is $1.01. The report is a read on commercial and industrial facility services demand, including technical solutions, energy efficiency, and building operations. Watch for commentary on backlog, labor productivity, and any data center or technical services contract activity.

ORCL reports Thursday. Consensus EPS estimate is $1.74. The print is a key AI infrastructure data point because [ORCL]'s remaining performance obligations and capital expenditure commentary track data center capacity buildout. Focus will be on OCI revenue growth, GPU deployment scaling, and changes to capacity expansion plans.

OCC reports Wednesday. Consensus EPS estimate is $0.20. The small-cap fiber cabling report is a narrow read on enterprise, multi-tenant data center, and campus cabling demand; watch for copper/fiber mix and any comments on data center project activity.

CNM reports Wednesday with consensus EPS estimate $0.919, while PPIH also reports Wednesday with consensus EPS estimate $0.55. Both are secondary reads on non-residential construction and infrastructure distribution; watch for commentary tied to large project pipelines and industrial demand.