CPI landed smoothly, and the U.S. stock market pulled off a deep V recovery. Funds are accelerating their flow into AI computing power, storage, and optical communication. From the explosive orders of Nebius and CoreWeave to the collective strength of optical modules and storage chains, the core of market trading is becoming increasingly clear: AI doesn’t lack demand; what’s truly scarce are computing power, electricity, and infrastructure. Meanwhile, oil prices, fiscal deficits, and Hormuz risks continue to reshape macro pricing. Tonight’s PPI, SanDisk Investor Day, and multiple semiconductor earnings reports are worth paying close attention to.