Palantir's 29% surge lifts Arm, optical stocks in AI sweep

As seen on the 24/7 Wall St. homepage on August 4, 2026.

Biggest movers · At the close Aug 4, 4:10pm ET

Gainers

PLTRPalantir$162.55+29.4%
AAOIApplied Optoelectronics$132.64+20.4%
ARMArm$280.61+17.4%
FNFabrinet$534.46+17.2%
COHRCoherent$330.85+14.8%

Losers

BRKRBruker$51.17-20.4%
VERXVertex$11.74-12.4%
CIFRCipher Mining$21.25-12.1%
AMCAMC Entertainment$2.63-7.7%
NVONovo Nordisk$44.09-6.4%

Palantir's 29% close pulled the entire AI complex with it, from Arm to the optical names supplying the data centers. Everything outside that trade got sold, with Bruker down 20% and Novo Nordisk sliding again.

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Palantir (PLTR) closed up 29.37% to $162.55, and the rally did not stay contained. Arm Holdings surged 17.38% to $280.61, while the optical networking names that supply data center infrastructure moved in lockstep: Applied Optoelectronics gained 20.35% to $132.64, Fabrinet rose 17.22% to $534.46, and Coherent added 14.82% to $330.85. The session shaped up as a clear rotation into the AI infrastructure trade across hardware, software, and the components that connect it all.

The flip side of that rotation was sharp. Money that moved into AI names had to come from somewhere, and the sellers were indiscriminate outside the trade. Bruker fell 20.44% to $51.17, making it the session's biggest loser by a wide margin. Novo Nordisk slid another 6.37% to $44.09, extending what has become a persistent downdraft for the GLP-1 giant.

Sources

Mentioned: PLTR, AAOI, ARM, FN, COHR, BRKR, CIFR, NVO

Related Market Updates

Biggest movers · At the close Aug 26, 4:10pm ET

Gainers

ANETArista Networks$202.78+6.2%
RBRKRubrik$96.68+4.3%
ARMArm$251.53+4.1%
DELLDell Technologies$467.63+3.6%
HPEHewlett Packard Enterprise$55.28+3.4%

Losers

SNAPSnap$5.45-8.0%
HIMSHims & Hers$29.63-6.7%
LCIDLucid$4.92-6.6%
FUBOfuboTV$10.26-6.3%
IRENIren$39.74-5.8%

Arista Networks closed up 6.2%, the best move in a 111-stock priority list where hardware names took the top four gainer slots. Snap fell 8% to $5.45, the day's steepest decline.

Biggest movers · At the close Aug 24, 4:10pm ET

Gainers

AMCAMC Entertainment$2.71+6.1%
EXPEExpedia$337.61+5.0%
SNAPSnap$5.47+4.3%
BROSDutch Bros$51.84+4.0%
ULTAUlta Beauty$540.82+3.7%

Losers

AAOIApplied Optoelectronics$110.34-11.6%
HIMSHims & Hers$30.91-8.5%
TEMTempus AI$66.83-8.1%
IONQIonQ$41.45-7.6%
SNDKSanDisk$1,491.74-6.5%

The damage at Monday's close ran deeper than the gains: Applied Optoelectronics shed 11.6% while the best performer, AMC Entertainment, managed 6.08%. Four of the five worst names lost more than 7% in a single session.

Biggest movers · At the close Aug 21, 4:10pm ET

Gainers

FUTUFutu Holdings$123.72+9.8%
TEMTempus AI$72.55+8.8%
IONQIonQ$45.16+8.7%
RIVNRivian$17.11+6.8%
HIMSHims & Hers$33.74+5.9%

Losers

CIFRCipher Mining$15.76-8.4%
AAOIApplied Optoelectronics$124.48-3.6%
FUBOfuboTV$10.25-3.2%
ARMArm$243.16-3.0%
IRENIren$41.32-3.0%

Futu Holdings closed up 9.75%, the biggest move in a 110-stock priority list where five names finished higher by 5% or more. The downside was far tamer: only Cipher Mining lost more than 4%.

Biggest movers · At the close Aug 20, 4:10pm ET

Gainers

MARAMarathon Digital$10.94+13.4%
TEMTempus AI$66.48+8.5%
AAOIApplied Optoelectronics$129.38+5.9%
FUBOfuboTV$10.79+4.4%
CIFRCipher Mining$16.58+4.3%

Losers

WMTWalmart$103.1-9.8%
IQiQIYI$1.04-8.0%
ACHRArcher Aviation$6.04-6.4%
UPSTUpstart$28.82-5.8%
IONQIonQ$41.39-4.5%

A near 10% single-day drop in a mega-cap retailer like Walmart, closing at $103.10, is the kind of move that rarely shows up on a leaderboard next to small caps. Marathon Digital ran the other way, up 13.37%, with Cipher Mining also in the green.

Biggest movers · At the close Aug 18, 4:10pm ET

Gainers

DUOLDuolingo$140.9+8.3%
SPOTSpotify$520.71+5.7%
ULTAUlta Beauty$519.44+5.3%
VERXVertex$13.06+4.7%
ASANAsana$9.24+4.6%

Losers

FNFabrinet$477.37-20.3%
CIFRCipher Mining$15.97-13.7%
AAOIApplied Optoelectronics$134.59-13.1%
BIDUBaidu$90.62-13.0%
COHRCoherent$309.03-12.0%

Fabrinet closed down 20% at $477.37, the deepest single-day loss in a 110-name priority list, with optical peers Applied Optoelectronics and Coherent also off double digits. Duolingo led all gainers at 8.3%.

FN Fabrinet

Q4 2026

Aug 17, 4:22pm ET

EPS

$4.10

est $3.81 +7.5%

Revenue

$1.32B

est $1.28B +3.2%

AI optical demand pushed Fabrinet's quarterly revenue up 45% year over year to a record, its fifth straight quarter beating expectations. Guidance for the September quarter calls for $1.375 billion to $1.425 billion in revenue and non-GAAP EPS of $4.10 to $4.25, so the acceleration is not slowing yet.

Biggest movers · At the close Aug 17, 4:10pm ET

Gainers

SNDKSanDisk$1,773.38+8.1%
COHRCoherent$351.61+7.9%
FNFabrinet$596.63+4.6%
DOCNDigitalOcean$135.86+4.6%
FUTUFutu Holdings$109.67+4.2%

Losers

CLOVClover Health$4.25-7.7%
TTDTrade Desk$13.39-5.3%
SOUNSoundHound AI$7.06-5.0%
OPENOpendoor Technologies$3.48-4.4%
LMNDLemonade$50.33-4.4%

Nearly 16 points separated the best and worst names in a 110-stock board at Monday's close, with SanDisk up 8% at $1,773 and Clover Health down almost 8%. Hardware led, small-cap growth lagged.

FN Fabrinet

Reports Mon Aug 17 After close 4:15 PM ET Confirmed

Aug 17, 5:00am ET

Fabrinet reports after the close at 4:15 PM ET, and as the contract manufacturer behind much of the industry's 800G optics, its commentary sets the tone for Lumentum, Coherent and AAOI. The $20.4 billion market cap leaves little room for a soft AI demand read.

AI Portfolio · Eric Bleeker

AAOI

Aug 16, 8:00pm ET

1-year hold +592.70%since recommended · 367 days

One year in Eric Bleeker's AI Portfolio, and a $10,000 stake in Applied Optoelectronics at the $22.36 recommendation price is worth roughly $69,000 today. The optical transceiver buildout for AI data centers did the heavy lifting, and the position has kept making new ground as recently as this month.

Biggest movers · At the close Aug 14, 4:10pm ET

Gainers

AAOIApplied Optoelectronics$150.13+15.4%
FUBOfuboTV$10.46+6.7%
SNDKSanDisk$1,627.62+6.5%
CIFRCipher Mining$17.69+6.4%
AMDAMD$508.57+5.3%

Losers

DUOLDuolingo$134.39-6.7%
ASANAsana$9.21-6.7%
SMRNuScale Power$9.27-5.9%
ACHRArcher Aviation$6.56-5.9%
AMCAMC Entertainment$2.51-4.8%

Applied Optoelectronics closed out the week up 15.4% at $150.13, nearly triple the next best move on the board. Chip and storage names filled in behind it, while Duolingo and Asana ended the week lower.

Earnings on deck — Aug 17–21

103 companies 68 before open 35 after close

Aug 14, 1:00pm ET

Home Depot reports Tuesday before the open, the cleanest read yet on whether the housing-tied consumer is still spending. It anchors a 103-company week that also puts Baidu, Klarna and optical supplier Fabrinet on the tape.

HTHTH World Group Limited Mon Aug 17Before open
FUFUBitFuFu Inc.Mon Aug 17Before open
NSPRInspireMD, Inc.Mon Aug 17Before open
AGPUAXE COMPUTEMon Aug 17Before open
CRGOFreightos LimitedMon Aug 17Before open
FLXSFlexsteel Industries, Inc.Mon Aug 17After close
FNFabrinetMon Aug 17After close
XPXP Inc.Mon Aug 17After close
DCGODocGo Inc. Mon Aug 17After close
YALAYalla Group LimitedMon Aug 17After close
HDHome Depot, Inc.Tue Aug 18Before open
BIDUBaidu, Inc.Tue Aug 18Before open
KLARKlarna Group plcTue Aug 18Before open
ASAmer Sports, Inc. Tue Aug 18Before open
PREPrenetics Global LimitedTue Aug 18Before open

AAOI Applied Optoelectronics

Regular session

Aug 14, 10:40am ET

$148.13

+13.61% open $130.39

A 13.6% intraday jump to $148.13 puts Applied Optoelectronics near a $12.8 billion valuation in a single session. Moves this size rarely settle quietly, so keep an eye on the stock into the close.