Palantir's 29% surge lifts Arm, optical stocks in AI sweep
As seen on the 24/7 Wall St. homepage on August 4, 2026.
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.
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Cipher Mining dropped 12.07% to $21.25 and Vertex fell 12.43% to $11.74, rounding out a day where the divide between AI-linked names and everything else was about as stark as it gets in a single session.