AI Demand Fuels Market Moves as Micron, HPE, Amazon, Meta, and SpaceX Make Waves

Artificial intelligence continued to dominate market discussions last week, with several key players reporting significant developments. Micron Technology (MU) posted record fiscal fourth-quarter results, driven by surging demand for memory products from AI data centers. Revenue reached $54.2 billion, with NAND sales up 526% year over year. Analysts at Deutsche Bank maintained a 'Buy' rating with a $1,550 price target, citing strong AI-driven demand despite margin pressures. Mizuho also raised its price target to $1,400, keeping an 'Outperform' rating.

Hewlett Packard Enterprise (HPE) saw its stock rise over 10% after raising its networking revenue growth forecast to a high-teens to low-20s range for fiscal 2027, up from the previous 5%-7% estimate. The company expects this segment to maintain mid-to-high 20s operating margins. Daiwa upgraded HPE to 'Outperform' from 'Neutral', highlighting robust demand for servers, networking, and storage products.

Amazon (AMZN) is reportedly considering an $8 billion deal for Nvidia AI chips, which could shift some infrastructure assets off its balance sheet. The company also secured a 20-year deal to buy nuclear power, investing over $3 billion in emissions-free energy. Additionally, Amazon signed a multiyear agreement worth more than $1 billion with Synopsys to support its custom-chip efforts.

Meta Platforms introduced its lightest AI glasses yet, the Ray-Ban Meta Audio, weighing just 43 grams. The company also launched Muse, a personal AI assistant, which has already attracted over 3 million weekly users. Despite these advancements, Meta's stock fell 3% this week. Meanwhile, SpaceX CEO Elon Musk announced plans to rename the company's AI unit from SpaceXAI to SpaceXSI, aligning with recent government terminology shifts.