[AI compute scaling drives data center electricity OpEx] Major tech firms announce a slowdown in AI compute expansion due to economic concerns.

Citigroup raised its S&P 500 year-end target to 8,100, projecting a 9% gain driven by real AI earnings growth. SpaceX's anticipated $1.77 trillion IPO is expected to increase market liquidity in summer 2026. The AI supercycle has reached a stage where deployed hardware generates revenue, encouraging continued investment despite semiconductor volatility.

Citigroup raised its S&P 500 year-end target to 8,100, projecting a 9% gain driven by real AI earnings growth. SpaceX's anticipated $1.77 trillion IPO is expected to increase market liquidity in summer 2026. The AI supercycle has reached a stage where deployed hardware generates revenue, encouraging continued investment despite semiconductor volatility.

SpaceX is securing large AI compute deals ahead of its June 12 IPO, including a $920 million monthly contract with Google for 110,000 Nvidia GPUs and related components starting in September 2026. The company also signed a $1.25 billion monthly deal with Anthropic for GPU capacity at its Colossus 1 data center. These deals, which add $26 billion in annual run rate revenue, aim to justify SpaceX's high valuation, though concerns remain about the timing and the AI division's costs.

Bitdeer Technologies mined 921 Bitcoin in May, a 370% increase year-over-year, while its coin balance dropped significantly. The company is focusing on transitioning to AI infrastructure, raising questions about liquidity and sustainability of the pivot.

Bitcoin and ethereum prices stabilized Tuesday after recent declines, with BTC at $63,078.89 (-0.3%) and ETH at $1,689.88 (+0.2%). Analysts suggest cryptocurrencies may offer diversification amid AI market dominance.

Fidelity National Information Services (FIS) stock has declined 51.3% over the past 52 weeks and 40.5% year-to-date, underperforming the Global X FinTech ETF (FINX) which has dropped 25.5% and 18.5%, respectively. FIS has been trading below its 50-day and 200-day moving averages for most of the past year, indicating a persistent downtrend. The stock's poor performance is attributed to slower growth, execution challenges, and weaker outlook compared to faster-growing fintech companies. Analysts have a 'Moderate Buy' consensus rating with a mean price target implying a 45.9% upside from current levels.

IDEXX Laboratories (IDXX) has underperformed the Nasdaq Composite, with shares down 27.1% from a 52-week high and 7.8% over the past three months. The stock has also declined 17.1% in 2026, compared to the Nasdaq’s 11.6% return. IDXX has been trading below its 200-day and 50-day moving averages since early March and mid-January, respectively. Concerns include moderating growth in the companion animal market, foreign exchange fluctuations, and uneven international demand. IDXX has outperformed its top rival, Zoetis Inc. (ZTS), which declined more sharply.

American Battery Technology (ABAT) shares surged 35% on Monday after the Department of Energy reinstated a $115 million grant for its lithium refinery project, which was terminated in October 2023. The grant was originally awarded in October 2022 and was reinstated following a rigorous review process that concluded in December 2025. The funding supports the first construction phase of ABAT’s Tonopah Flats Lithium Project in Nevada, which aims to produce 5,000 tonnes of battery-grade lithium hydroxide annually. Despite the rally, ABAT stock is still down nearly 30% from its year-to-date high.