‘Crazy Run for Stocks’ Shows AI Trade Is Alive and Well

Concerns about AI and tech heading into earnings season appear overblown, according to Paul Stanley of Arca. He says demand for compute remains strong, leaving Nvidia (NVDA) and Broadcom (AVGO) with room to run, while new opportunities emerge in companies applying AI to new uses.Stanley also says July’s jobs report reduces the likelihood of another Fed rate hike, which could provide another tailwind for tech. He sees energy availability and data center deployment—not chip supply or demand—as the bigger constraints on the AI buildout.