Prysmian hits record high as Nvidia expands AI infrastructure push - 8 May 2026

As of May 8, today's news sees Prysmian's significant market developments and strategic positioning amidst rising demand for fiber optics. Prysmian has reached a new 52-week high at 152 euros per share, up 5.85%, also following a strategic upgrade by Deutsche Bank, which has enhanced its rating from "hold" to "buy," raising the price target significantly by 67% to €167 euros, driven by increased demand for optical fiber crucial for server and data centers. According to Deutsche Bank, Prysmian is identified as ideally positioned within the ongoing AI arms race, given its role in supplying the necessary optical fiber for data transmission and power cables for data centers. This positioning aligns with the heightened demand stemming from advances in AI technology, bolstering its market potential. Meanwhile, Nvidia has added to its rapidly expanding roster of partners by striking an artificial-intelligence infrastructure deal with AI cloud provider IREN. Both companies' stocks looked to welcome the arrangement. The companies will collaborate to deploy five gigawatts of AI infrastructure across IREN's data centers. Turning to market updates, Stellantis and Chinese automaker Leapmotor announced a joint initiative to commence electric vehicle production in Europe, which aims to address underutilization of Stellantis' factories while providing Leapmotor a foothold in the region. This collaboration is part of Stellantis's broader strategy to enhance their competitive stance in the EV market. Looking at broader macro trends, the U.S. solar industry faces challenges due to new policies under the Trump administration, which have caused major solar firms to withdraw from partnerships with U.S. panel factories linked to China amid fears of disqualification from clean-energy subsidies. This policy shift endangers significant solar production capacity and could hinder job growth within the U.S. manufacturing sector. From the international front, tensions continue as U.S. and Iranian forces clash in the Gulf, although President Trump asserts that a ceasefire remains intact despite these incidents. The U.S. is awaiting Iran's response to a proposal aimed at formally concluding the ongoing conflict.