Big Tech earnings trigger AI infrastructure rally across the board — July 31, 2026
S&P 500 +1.66% · Nasdaq +2.78% · Dow +1.19% · VIX 17.1 — July 31, 2026
The Nasdaq's 2.78% surge today tells you everything: mega-cap earnings reports—Amazon, Apple, and others—lit a fire under the entire AI stack. The S&P 500 added 1.66%, breadth was strong at 72-28 in the top 100, and the VIX cooled to 17.1. This wasn't a narrow tech pop. It was permission to buy the picks and shovels again, and investors did exactly that.
Memory chipmakers led the charge. Sandisk jumped 26% on the heels of Amazon and Apple flagging supply constraints—a backhanded way of saying demand for AI hardware is crushing capacity. Nebius Group, which finances GPU infrastructure, tacked on 27.1%. CoreWeave (AI compute) and Bloom Energy (power) both cracked 20% gains. Even the crypto miners—Riot Platforms and CleanSpark—rode the coat-tails, each posting 21%+ moves as AI compute demand implied stable electricity and hashrate economics.
The semiconductor play extended beyond the memory stack. IREN gained 30.5 on the argument it deserved a catch-up trade after peers TeraWulf and Cipher Digital had already moved hard. Bausch Health, which has nothing to do with semiconductors, still rocketed 28.8% on a Q2 turnaround and recovery thesis—breadth this strong lifts everything.
No insider cluster buys showed up in the data today, so the story remains pure technicals and earnings revisions. But the setup is worth watching: when three separate domains (chip supply, AI infrastructure, crypto miners) all spike simultaneously, you're seeing a trade flowing through hardware bottlenecks, not hype.
Market commentary generated from the day's data and headlines — not investment advice.
Biggest moves today
- IREN (IREN LIMITED) ▲ +30.54% at $38.26 on 71.5M shares — TeraWulf and Cipher Digital Are up 50% in 2026 While IREN Lags Behind. Is It Time to Buy IREN for a Catch-Up Trade? (24/7 Wall St.)
- BHC (Bausch Health Companies Inc.) ▲ +28.85% at $6.03 on 18.2M shares — Bausch Health (BHC) Rockets 28% as Q2 Turnaround Fuels Recovery Outlook (Insider Monkey)
- CIFR (Cipher Digital Inc.) ▲ +28.10% at $22.66 on 36.1M shares — Buying the AI Reset: Why Forced Selling Equates to Opportunity (Zacks)
- KEEL (Keel Infrastructure Corp.) ▲ +27.56% at $4.05 on 64.0M shares — BC-Most Active Stocks (Associated Press)
- NBIS (Nebius Group N.V.) ▲ +27.13% at $188.43 on 40.8M shares — Is Nebius Group (NBIS) Quietly Redefining AI Capital Efficiency With Its US$775 Million Debt Facility? (Simply Wall St.)
- BE (Bloom Energy Corporation) ▲ +26.49% at $207.12 on 34.9M shares — ASML and 21 More Stocks to Consider Buying Out of the AI Wreckage (Barrons.com)
- SNDK (Sandisk Corporation) ▲ +25.99% at $1279.96 on 23.2M shares — MU, SNDK, WDC, SKHY Stock Jump After-Hours — Memory Chipmakers Soar After Amazon, Apple Management Flag Soaring Costs, Supply Crunch (Stocktwits)
- CRWV (CoreWeave, Inc.) ▲ +21.51% at $73.90 on 43.8M shares — Astera Labs vs. CoreWeave: Which Technology Stock Is a Better Buy in 2026? (Motley Fool)
- RIOT (Riot Platforms, Inc.) ▲ +21.27% at $22.12 on 25.7M shares — Citadel buys bulk of Situational Awareness portfolio after AI stock losses: WSJ (Blockspace)
- CLSK (CleanSpark, Inc.) ▲ +21.07% at $14.54 on 30.5M shares — Why CleanSpark’s Sandersville AI site is just the beginning: Texas is next (Blockspace)
Most active by volume
| # | Ticker | Price | Change | Volume |
|---|---|---|---|---|
| 1 | INTC | $91.13 | +11.30% | 133.6M |
| 2 | MSFT | $451.10 | +15.51% | 109.3M |
| 3 | NVDA | $195.04 | +2.65% | 123.1M |
| 4 | NOK | $9.09 | +8.09% | 106.2M |
| 5 | SOFI | $16.47 | +8.14% | 83.0M |
| 6 | IREN | $38.26 | +30.54% | 71.5M |
| 7 | AMZN | $235.50 | +3.90% | 78.8M |
| 8 | PATH | $12.37 | -1.75% | 66.5M |
| 9 | KEEL | $4.05 | +27.56% | 64.0M |
| 10 | ABEV | $3.12 | +0.65% | 58.5M |
| 11 | MU | $874.66 | +18.36% | 59.6M |
| 12 | SPCX | $112.20 | -0.31% | 54.8M |
| 13 | ONDS | $7.58 | +11.04% | 54.8M |
| 14 | RIG | $5.08 | +2.63% | 52.9M |
| 15 | F | $14.86 | -2.75% | 50.3M |
| 16 | PLUG | $2.09 | +10.00% | 49.8M |
| 17 | SKHY | $149.00 | +17.52% | 50.2M |
| 18 | NU | $14.49 | +3.21% | 45.4M |
| 19 | NFLX | $73.17 | -0.62% | 51.7M |
| 20 | AAPL | $333.43 | -1.41% | 55.5M |
| 21 | JBLU | $6.07 | +6.12% | 44.3M |
| 22 | AAL | $15.43 | +3.98% | 47.2M |
| 23 | MARA | $11.82 | +17.61% | 45.0M |
| 24 | WULF | $17.82 | +18.09% | 43.7M |
| 25 | T | $23.21 | -3.05% | 49.4M |
Market data from Yahoo Finance; insider data from SEC EDGAR Form 4. For research only — not investment advice. Verify on the official source before trading.
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