All seven Magnificent Seven stocks fell today. Here's where that money actually went (July 23, 2026)
All seven Magnificent Seven stocks were red by late morning Thursday, led by Tesla's 14% drop on an earnings miss and Alphabet's close-to-7% slide despite beating estimates, on another capex raise. Amazon and Meta sold off too ahead of next week's reports. The money didn't just leave, it rotated: into defense on Lockheed's earnings beat, and out of quantum, SaaS and space.
Tesla (TSLA) and Alphabet (GOOGL) are falling hard. The rest of the AI trade isn't (July 23, 2026)
Tesla and Alphabet kept falling through Thursday morning even as chipmakers, neoclouds and photonics stocks held up fine. Oil topped $100 a barrel after Trump threatened to bomb Iranian infrastructure over any new attack on shipping.
IREN signed $2.8 billion in AI contracts, and bitcoin miner stocks rallied with it
IREN closed up 19.6% after announcing $2.8 billion in new AI cloud contracts. Hut 8 and CleanSpark had data center lease news of their own, while CIFR, SLNH and KEEL rallied in sympathy. The fuel: Moonshot AI is turning away paying Kimi K3 subscribers because it ran out of GPU capacity.
Nvidia (NVDA) and Microsoft (MSFT) don't just sell OpenAI chips and cloud time. They also fund the bill.
Nvidia, Microsoft, Oracle, Broadcom, AMD, and CoreWeave have promised OpenAI close to a trillion dollars combined, and some of them are OpenAI's investors as well as its vendors. Here's how the money actually loops, and where it's already showing strain.
I gave five AIs a pretend $10,000 to pick 5 tech stocks. Four bought Nvidia (NVDA). Claude went rogue.
ChatGPT, Gemini, Grok, Meta AI and Claude each picked five tech stocks to hold for six months. Four bought Nvidia. Claude went the other way. Every pick is here and the scoreboard runs monthly.
Nebius (NBIS) tried a $1 billion customer deal and a new business model to stop its stock slide. A $775 million loan is what actually worked.
Nebius raised $775 million in its first-ever secured debt facility, backed by GPU infrastructure and contracted cash flows, without issuing new shares. The stock is up more than 5% today, defying a weak Nasdaq, after a $1 billion customer deal and a new partnership model both failed to stop a 22% five-day slide.
Meta is in talks to rent $10 billion of computing power to rival Anthropic (META)
The New York Times reports Meta is negotiating to lease AI rival Anthropic up to $10 billion in computing power, following the path SpaceX and TeraWulf already blazed.
Nebius (NBIS) signed a $1 billion deal this week. Its stock is down 14% today anyway, worse than the chipmakers.
Nebius signed a $1 billion, multi-year AI compute deal with Reflection AI, and its stock is still down about 14% today. The pressure has spread well past chips: CoreWeave, crypto miners like IREN and Cipher Mining, power stocks like Talen Energy and Vistra, and now New York's data-center moratorium and a Trump-Hochul clash are all weighing on the same trade.
Bitcoin miners are becoming AI landlords. Here's how far each one has actually gotten.
Eight bitcoin miners are pitching the same AI pivot, but they're nowhere near equally far along. IREN and TeraWulf already have AI revenue flowing. Hut 8, Cipher and Applied Digital have billions in signed leases that haven't started billing yet. CleanSpark still just mines bitcoin.
New York froze new data centers for a year, and TeraWulf just became the day's biggest loser because of it. Nebius, close behind, has nothing to do with New York.
Governor Hochul signed a first-in-the-nation moratorium on new hyperscale data centers today, and TeraWulf (WULF) fell 6.7%, the hardest hit in the group, because it owns exactly the kind of project the order targets. Nebius (NBIS) fell almost as much, and Digital Realty (DLR) also dropped on real New York exposure, but Nebius and CoreWeave (CRWV) have nothing to do with Albany.
Chip stocks just had their best day in weeks. Meta and Amazon are both betting billions that AI compute demand isn't topping out (MU, WDC, META)
Micron, SanDisk, and Western Digital are having their best day in weeks. A week after a rumor said Meta had too much AI compute, Meta and Amazon both bet billions that demand is still growing, and Samsung's own record quarter couldn't shake investors until this week's data center news did.
What is an AI neocloud? CoreWeave (CRWV) and Nebius (NBIS), explained
Neoclouds like CoreWeave and Nebius buy GPUs with debt and rent out the computing power to AI companies. Here is how the business model works, and the risk built into it.
Meta said it had spare compute. Then it broke ground on a $9 billion data center in Canada (META, CRWV, NBIS)
A week after Meta's excess-compute cloud plan crushed the neoclouds, it broke ground on a C$13 billion, 1-gigawatt data center in Alberta, Canada. The demand is real.
TeraWulf, CoreWeave, and Nebius are having a big day. The stocks still mostly mining bitcoin are not.
TeraWulf, Nebius, IREN, CoreWeave, and five other AI infrastructure stocks are surging together Wednesday, while HIVE Digital and CleanSpark, the two names still mostly mining bitcoin, are red. The split isn't random.
Hyperliquid's Sunday tape shows chip and memory stocks bouncing hard
Western Digital, SanDisk and Micron are all up more than 6% from Thursday's close on Hyperliquid's 24/7 stock perpetuals. Here is the Sunday snapshot, and why it is not the same as Sunday night's real reopen.
Micron (MU), Nebius (NBIS) and chip stocks jump on Hyperliquid's weekend tape
Real markets are closed for July 4th, but tech and chip stocks are trading green right now on Hyperliquid's 24/7 stock perpetuals. Micron, Marvell and Nebius lead the bounce, and the S&P 500 and Nasdaq perpetuals are up too. Here is the full read, and why Monday could look nothing like this.
Meta selling spare compute doesn't mean the AI crunch is over (META, CRWV, NBIS)
Chip stocks sold off on Meta's plan to rent out spare compute. But Meta itself just got rationed by Google and is locked into take-or-pay deals with CoreWeave and Nebius. Why the overcapacity story is shaky, plus what to watch next week.
Chips had their third worst day of 2026 and the S&P barely noticed (MU, INTC)
The S&P 500 closed within a whisker of flat on July 1 and the chip trade still had its third worst day of the year. Micron fell 10.5 percent, Intel lost 9 percent, and Meta gained almost 9 percent on the other side. Here is the damage report.
Meta's cloud news is hammering the neoclouds: CoreWeave and Nebius drop about 13% (July 1, 2026)
The same Meta cloud announcement that sent META up about 10% on July 1, 2026 is hammering the neoclouds. CoreWeave (CRWV) and Nebius (NBIS) each fell about 13% as investors saw a giant new rival for renting out AI computing power.
Data-center and bitcoin-miner stocks (CRWV, HIVE) sold off at the open on June 29 after a pre-market pop
AI data-center, neo-cloud, and bitcoin-miner stocks ticked up pre-market on June 29, then sold off hard at the open. Most are down 3% to 10% from the open and now slowly recovering. Nebius (NBIS) was the exception.
It is not just the chips: optics, memory and the neo-clouds all sold off this morning
The whole AI build-out sold off Monday morning, not just semiconductors. Optical names like Coherent (COHR) led the drop, memory (MU) and the neo-clouds fell hard, and Nebius (NBIS) was the lone holdout. What is going on.
The market's closed, but the weekend stock tape is flashing green
The US market is closed, but stocks trade 24/7 on Hyperliquid. As of Sunday night the weekend tape is green, led by the chip names that fell hardest Friday. Our read before Monday's open.
SpaceX (SPCX) is joining the Nasdaq-100 just two weeks after its IPO, at less than 1% weight
SpaceX is joining the Nasdaq-100 barely a month after the largest IPO in history, under a brand-new fast-entry rule. Here is why a $2 trillion company comes in at under 1% weight, how it compares with the other recent additions, and whether the forced buying is actually bullish.
IREN bought the Warriors' jersey patch. Here's how it stacks up against WULF, CIFR and the other ex-miners
A few years ago IREN was a bitcoin miner. Now its badge is going on every Golden State Warriors jersey in a deal worth more than $50 million a year. Here is what IREN actually does, the Microsoft and Nvidia contracts behind the splash, and how it compares to ex-miners like WULF, CIFR, APLD and CLSK.