Top Companies' AI Moves

Today's Stories

1. 1

   AI infrastructure shift to optical networks creates chip shortage risk—8 stocks to watch

   As AI innovation accelerates, data centers are moving away from traditional copper wiring to faster, more energy-efficient optical connections. This transition is creating rising demand for optical hardware across multiple layers—from chips like Marvell Technology's digital signal processors and Lumentum's lasers, to transceivers from Coherent and Applied Optoelectronics, to fiber and routing systems from Amphenol, Corning, and Ciena. Optical connectivity is becoming a critical bottleneck in AI infrastructure build-out. Nvidia's $2 billion investment in Marvell and decision to integrate its optical networking into NVLink shows how central this technology is to the data center stack. For investors and tech buyers, the shift signals that companies controlling optical components—especially Lumentum, which has a near-monopoly on high-power lasers—are positioned as essential partners to cloud providers.

   The article identifies eight publicly traded companies across the optical stack: Marvell Technology, Broadcom, Lumentum Holdings, Coherent, Applied Optoelectronics, Amphenol, Corning, and Ciena. Applied Optoelectronics, a key Microsoft supplier, carries customer concentration risk; Amphenol benefits from the boom regardless of copper-to-optics pace because it also supplies Nvidia's NVLink copper backplanes.

2. 2

   Parnassus Fund Exits Salesforce, Pivots to AI Infrastructure

   Parnassus Core Equity Fund sold its Salesforce holding in Q2 2026, citing declining conviction in horizontal application software due to increased competition, weaker pricing dynamics, and less attractive valuations. The fund redeployed the capital into opportunities with more direct exposure to structural AI tailwinds. Salesforce's exit reflects a broader shift in institutional investor sentiment away from traditional enterprise software toward companies with stronger AI exposure. The fund's Q2 2026 return of 16.83% outperformed the S&P 500's 15.20%, driven by overweight positions in Information Technology and Communication Services—categories where AI infrastructure and semiconductors are concentrated—while software valuations have become less compelling.

   Hedge fund ownership of Salesforce declined from 115 portfolios at the end of the previous quarter to 101 at the end of Q1 2026, suggesting broader institutional pressure. On August 13, 2026, Salesforce stock closed at approximately $193.32 per share, with a market capitalization of about $164.92 billion.

3. 3

   T-Mobile US aligns AI initiatives with customer outcomes

   T-Mobile US has announced a focus on aligning its AI initiatives with customer outcomes, according to reporting on the company's strategic approach to artificial intelligence deployment. The move signals T-Mobile's intent to ensure that AI investments serve measurable customer benefits rather than technology for its own sake, a distinction that may shape how the telecom evaluates and prioritizes future AI projects.

   The company's execution on this alignment principle and whether it translates into measurable improvements in customer experience or service delivery metrics.

4. 4

   AMD raises 2025 outlook on AI demand despite elevated capex concerns

   AMD lifted its 2025 revenue guidance after posting strong quarterly results driven by artificial intelligence server sales, though the company signaled substantial capital expenditure plans that weighed on investor sentiment. AMD's forecast upgrade reflects robust demand from data centers deploying AI infrastructure, a key driver of semiconductor industry growth; however, elevated investment requirements may pressure near-term profitability and shareholder returns, a tension facing the broader chip sector.

   The extent to which AMD's capex commitments are offset by AI revenue acceleration will determine whether the stock sustains its gains; investor appetite for high-growth, capital-intensive semiconductor plays may hinge on execution and timeline clarity.

5. 5

   SpaceX, AT&T, Apple steer into AI's currents—Grok 4.6, open models, DC lobbying

   SpaceX released Grok 4.6, benchmarking against Anthropic's latest models and OpenAI's GPT 5.6; AT&T routes 45 billion daily tokens across open and closed models via a smart router, with open models now powering 25% of use and expected to reach 70–80% over time; Apple hired Nate Gatten, a former American Airlines and JPMorgan government affairs veteran with Republican ties, to lead its global government affairs operation as John Ternus becomes CEO on September 1. Elon's $60 billion acquisition of Cursor, the AI-native coding company, is validated by Grok 4.6's performance; AT&T's shift demonstrates enterprises are building portfolios of both open and closed models rather than locking into a single vendor, with switching to open models already saving 80–90% in certain applications; Apple's government affairs restructuring—with Tim Cook moving to executive chairman while managing White House relationships—signals Big Tech is treating DC lobbying as a first-team priority ahead of tariffs, chip sourcing, and the September Xi-Trump White House meeting.

   How the market assesses Grok 4.6's benchmarks in coming days; AT&T's projection that open models will power 70–80% of its AI workload over time; Apple's Pixel 11 phones reducing RAM from last year's 16 gigabytes to 12 despite price increases of $100 on phones and $50 on wearables, signaling that memory pricing pressure is persisting across even the largest tech companies.

6. 6

   Schnucks Launches AI Shopping Assistant, Revamps Weekly Ad

   Schnucks, a regional grocery chain, has introduced an AI-powered shopping assistant and redesigned its weekly advertisement into an interactive digital format. The AI assistant helps shoppers find products and plan purchases more efficiently, while the interactive weekly ad makes it easier for customers to browse deals and add items directly, improving the shopping experience both online and in-store.

   The rollout's expansion across Schnucks' locations and whether the interactive ad format drives increased deal engagement and repeat visits.