Beneath a steady stock market, a much bigger shift is taking place. AI investment, cloud computing demand and technology earnings are accelerating, forcing investors to rethink the outlook for growth stocks and the broader economy. Puru Saxena and the panel dive into the forces driving this market move, from surging AI investment to a decisive shift in sentiment following strong Big Tech results. They explain why cloud computing demand is accelerating, why growth stocks are back in focus, and how these trends are shaping the next phase of investing in artificial intelligence and technology. With cloud computing growth re-accelerating and capital expenditure surging across hyperscalers, the team explores whether this is early validation of the AI boom or the peak of the current cycle. The panel explores: Middle East tensions and the stock market: Why equities have remained stable despite conflicting headlines, how investors are interpreting geopolitical risk, and why oil and macro conditions still matter for the broader economy and finance. Growth stocks and market positioning: Puru explains the recent rally in growth stocks, how extreme bearish positioning and aggressive hedging created the conditions for a sharp rebound, and what this means for investing going forward. Cloud computing and AI demand: Damia breaks down the latest results from Big Tech, including accelerating growth across cloud computing platforms like Google Cloud, AWS and Microsoft Azure, and what this signals for software, technology and emerging technologies. AI infrastructure and capex surge: Irnest Kaplan explains why hyperscalers are on track to spend over $700 billion on AI infrastructure, how this impacts the broader ecosystem, and why demand continues to outstrip supply. Custom silicon and the AI shift: Anirban explores the rise of in-house chips, why companies are expanding beyond the cloud, and what this means for the future of AI, software and enterprise workloads. AI competition and market dynamics: The team discusses the evolving battle between OpenAI and Anthropic, how compute constraints are shaping user behaviour, and what this means for the future of artificial intelligence, business trends and disruptive stocks. A clear breakdown of the biggest business trends shaping the stock market, disruptive stocks, and the future of AI-driven investing. -- AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions

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