[UPDATE] Infrastructure rallies while application software sells off on 2026-08-12
The 2026-08-12 session split cleanly along the AI stack. CoreWeave closed +19.5%, Super Micro +19.0%, Lumentum +13.6%, Bloom Energy +12.3%, Seagate +7.0%, SanDisk +5.8%, Micron +4.9% and Nvidia +3.0%, while Palantir fell 2.2%, Datadog 2.4% and the IGV software basket 0.8%. The proximate drivers were the two neocloud prints and the Nvidia financing structure, both of which validate infrastructure spend rather than the applications built on it. For the desk this is the rotation that matters most: it lifts the memory and power baskets whose momentum surfaces are already the highest on the board, and those same names remain 20-42% below their 63-day highs.