Happy Friday! Michael Burry's high-profile short on Palantir is paying off as the AI favorite sinks to new 52-week lows, prompting the legendary investor to reportedly begin taking some profits. See what Palantir's breakdown could mean for other AI highfliers.

Micron has emerged as one of the biggest beneficiaries of the AI buildout after another earnings blowout sent shares sharply higher and reignited bullish sentiment across the memory and chip trade. But with Wall Street now debating how much of the cycle is already priced in, the real story is what comes next.

Plus, if you’re looking for an emerging AI infrastructure company, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

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Palantir’s Worst Meltdown Since 2021 — Burry Cashes In

Michael Burry's bearish bet against Palantir continues to pay off after the AI favorite endured its worst monthly decline since 2021.

The legendary investor has reportedly begun partially covering his short position, locking in gains while keeping part of the trade intact.

The stock has broken through key support levels and is now at new 52‑week lows with lower highs and lower lows. See why Burry's thesis keeps gaining traction, and whether this is the start of a broader reckoning for AI stocks.

With New Name Imminent, BlockchAIn Digital Is Ready To Power AI With Next Gen Data Centers

BlockchAIn Digital Infrastructure, Inc. (AIB) is changing its name to AIB Data Centers Inc. to reflect the company’s transformation into an AI, HPC and other advanced computing applications infrastructure provider.

Leveraging its 40 MW campus, CLT01, which it is expanding to 65 MW to support an AI company and a leading financial institution, AIB is working to position itself to be a leader in providing the computing power needed to drive the AI revolution. Unlike its peers, the company says it first secures large-scale power allocations, then constructs data center shells around that power using modular designs, which cuts down on build times, and offers the turn-key infrastructure under long-term lease agreements. To learn more about the name change and business, click here.

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Yesterday: U.S. indexes ended mixed Thursday, with the Nasdaq falling for the fourth straight day as tech weakness continued. The S&P 500 finished flat on the day and the Dow managed to stay positive, as investors continue to rotate into healthcare, financials, and industrials. Overseas markets saw heavy pressure, with SoftBank sinking as much as 12% after its chip designer — Arm Holdings — tumbled and continues to underperform the broader semiconductor sector. On the macro side, Q1 GDP was revised up to 2.1% (above 1.6% expected), while May PCE inflation matched forecasts at 4.1% year-over-year. Lastly, Bitcoin briefly dropped to $58,131 yesterday — its lowest since September 2024 — with weekly losses now at 7%.

On Our Radar: Looking ahead, Wall Street will be paying attention to retail inventories, wholesale inventories, and consumer sentiment reports this morning. On the earnings front, all eyes will be on AeroVironment (AVAV) which will report after the market close on Monday.

Memory and chip stocks soared Thursday as shares of SanDisk (SNDK) soared more than 20% and Micron (MU) — which just reported blowout earnings — was up more than 15% to hit a new all-time high. But not everyone was celebrating. Despite all the euphoria, shares of Duolingo (DUOL), Strategy (MSTR) and Dell (DELL) couldn’t shake the selling pressure and were among the top laggards on the day. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Thursday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Ark Moves: Cathie Wood and Ark Invest made significant trades yesterday. Discover which stocks she’s buying and selling.

Policy Pop: Homebuilders just posted their strongest day in more than a year after a major policy shift hit Washington. The move isn’t about rates, but a new housing bill that could reshape who gets to build and who gets left out. See what’s fueling the surge.

M&A: A $7B all-stock shakeup between ON Semiconductor and Synaptics is sending mixed signals across Wall Street. Read on for the full breakdown and what it means for the sector.

Chip Shift: A new chapter is unfolding at Qualcomm as it targets billions in future data center revenue alongside its AI and edge expansion. Investors are now weighing whether this “late entry” into cloud computing is an advantage or not.

Stock Of The Day: Shares of Rocket Lab have been falling the entire month, but that might be changing soon. Read on to see the levels traders are watching and where shares are likely headed next.

This Sunday: How To Trade The AI & Semi Unwind With Chris Capre

The biggest moves in AI stocks this week didn't take days to develop. They happened in a single session. Chris Capre is breaking down the options flow signals, key SPY levels, and short-term setups he's watching as the trade finds its footing — and how to structure trades when sharp reversals in either direction are most likely.

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