StratDeck

AI Infrastructure

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Every AI model runs on physical hardware: chips, the machines that make them, memory, networking, servers, the data centres that house them and the power they draw. StratDeck follows the 79 listed companies that build and run that hardware, grouped into 9 segments. Each day it shows which parts of the supply chain are strengthening, which are weakening, and what changed.

All AI Infrastructure stocks →

Infrastructure Market Sentiment

Strong market

Based on Friday's close, 2 Oct

SEC EDGARYahoo Finance
01

What is the story today?

The stock the theme's research has most to say about, what the last run measured, and what its own segment says about the move.

AMZNAmazon.com, Inc. · Internet Retail+0.7% 1W

What the last run measured

  • Amazon.com, Inc. is +0.7% over the week and -1.4% over the month.
  • Price is 3.2% above its flat 200-day EMA.
  • It sits in Hyperscalers, where 80% of stocks are trending up.

Why

So what?

80% of Hyperscalers is above its 200-day EMA, against 85% across the theme. A move here is the stock's own, not the chain's.

Follow the AMZN storyFundamentals, valuation, peers, catalysts and risks.
02

Which parts of the chain are working?

Every segment on one scale, then the stocks inside whichever one you pick.

Share of each segment above its 200-day EMA

Theme average 85%
  • Semiconductor equipmentTools100%9/9+10.1%
  • NetworkingSystems100%8/8+4.2%
  • MemorySilicon100%4/4-1.6%
  • ServersSystems100%3/3+1.9%
  • ComputeSilicon89%8/9+2.8%
  • HyperscalersDemand80%4/5-0.1%
  • PowerFacilities67%6/9+2.0%
  • Data-centre infrastructureFacilities67%4/6+0.4%
  • NeocloudsDemand50%1/2+2.3%

Semiconductor equipment, Networking and Memory are at 100% or better. Facilities is the weak end: Power and Data-centre infrastructure are at 67% or less.

Inside a segment

Share Compute in AI Infrastructure
Strong trending up
1W+2.8%1M+10.9%8/9 trending up

Next earnings: TSM · 15 Oct

03

What moved, and why?

The largest single-session moves among the theme's stocks, each beside the feed's headline for it, a print coming up, or where its segment sits this week.

  • TER+8.0%

    Teradyne, Inc. · Semiconductor equipment

    reports 21 Oct

  • HPE+7.4%

    Hewlett Packard Enterprise Co · Servers

    no story in the feed

  • AMKR+5.9%

    Amkor Technology, Inc. · Semiconductor equipment

    reports 26 Oct

  • WDC-10.2%

    Western Digital Corporation · Memory

    weakest segment this week

  • MOD-5.8%

    Modine Manufacturing Company · Data-centre infrastructure

    reports 27 Oct

  • SNDK-3.8%

    Sandisk Corp · Memory

    reports 29 Oct

04

What is worth a look?

One list. The Terminal and AI Infrastructure shortlists merged, tagged by where each came from, with the board's best value pick to price them against.

  • MUBothRising 200-day · stronger than peers · memory-2.0%
  • BNP.PATerminalRising 200-day · stronger than peers · earns 28 Oct+0.6%
  • SNDKBothRising 200-day · stronger than peers · earns 29 Oct-3.8%
  • LLOY.LTerminalRising 200-day · stronger than peers · earns 29 Oct+1.9%
  • COHRBothRising 200-day · stronger than peers · networking+5.6%
  • SMCIValueCheapest grower in Technology · fwd P/E 8.2 on +93.2% revenue+4.2%
05

What changed this week?

The daily briefing, the sourced headlines behind it, and what the theme's companies filed with the SEC.

What's changed?

Briefing for 3 Oct

Past briefings
  • Semicap stocks broke out broadly, led by Teradyne and Amkor, while Amazon signed a multi-year billion-dollar IP deal with Synopsys for AI chip design.

    Semicap equipment names are the earliest link in the AI chip supply chain, and a group-wide move plus a large hyperscaler-to-EDA deal suggests confidence in sustained AI chip design and fabrication activity ahead.

    Semiconductor equipment · Hyperscalers· TER, AMKR, ONTO, SNPS, AMZN·bullishTom's Hardware

  • Servers and networking names rallied together, with HPE up 7.4%, Supermicro up 4.2%, and Coherent and Credo both gaining around 4-5.6%.

    Coordinated gains across servers and networking point to continued demand expectations for the physical buildout of AI data centers, the segment that converts chip demand into deployed infrastructure.

    Networking · Servers· HPE, SMCI, COHR, CRDO

  • A California tech CEO was arrested and faces up to 20 years for smuggling $300 million in Nvidia AI servers to China.

    Export control enforcement actions highlight the ongoing risk around chip diversion and could tighten scrutiny on AI hardware resale channels that have been a workaround for restricted markets.

    Compute· NVDA·bearishTom's Hardware

  • Data center construction announcements continued across multiple geographies, including Egypt, Finland, France and Texas, alongside new GPU-backed debt financing for Sharon AI and Lambda.

    The steady drumbeat of new builds and financing deals signals that capacity expansion plans are still being greenlit globally, even as individual project economics and financing structures vary.

    Theme-wide·bullishData Center Dynamics 1·bullishData Center Dynamics 2·bullishData Center Dynamics 3·bullishData Center Dynamics 4·bullishData Center Dynamics 5·bullishData Center Dynamics 6

  • Overall AI infrastructure strength rose to 84% of stocks above trend from 75% a week ago, with semicap and networking leading the improvement while power weakened.

    The broadening in semicap and networking alongside a pullback in power suggests the rally is gaining participation in the hardware and connectivity layers even as energy supply names lag, a divergence worth watching given power constraints are a key bottleneck for AI buildout.

    Semiconductor equipment · Networking · Power

Filings

SEC EDGARthe AMFNasdaq Nordic
06

What is coming?

Earnings from the last monitor run and the curated calendar, 28 days out.

What's next

Next 28 days

Looking beyond AI? The Terminal screens 380+ stocks across every sector the same way.

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