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# Evening Scan
- URL: https://adjacent.media/scan/2026-06-25-pm/
- Published: 2026-06-25T23:06:41.000Z
- Updated: 2026-06-25T23:06:41.000Z
- Description: Markets had a lot to digest today: Micron’s blowout quarter confirmed the AI memory trade is real, while Anthropic’s accusation against Alibaba reminded everyone that the chip war has a software-access dimension too. AI infrastructure is where the money is moving, and everyone wants in.
- Author: Jonathan Greene
- Tags: #scan-pm, #scan

Markets had a lot to digest today: Micron's blowout quarter confirmed the AI memory trade is real, while Anthropic's accusation against Alibaba reminded everyone that the chip war has a software-access dimension too. AI infrastructure is where the money is moving, and everyone wants in.

> **346%** — Micron's year-over-year revenue growth in Q3\. The AI memory boom is not slowing down.

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#### [Micron Q3 Revenue Up 346% YoY, Stock Jumps 14%+ After Hours](https://www.cnbc.com/2026/06/24/micron-mu-earnings-report-q3-2026.html?ref=adjacent.media)

$41.46B against a $35.84B estimate is a different conversation entirely. *(CNBC)*

#### [Alibaba Stock Drops 4.43% After Anthropic Accuses Firm of "Illicitly" Accessing Its AI Models](https://www.bloomberg.com/news/articles/2026-06-25/alibaba-drops-after-anthropic-accuses-firm-of-accessing-ai-model?ref=adjacent.media) (paywall)

A public accusation from a lab against a hyperscaler is rare escalation — and Alibaba's investors noticed. *(Bloomberg)*

#### [Qualcomm Expects $15B in Data Center Chip Sales by 2029, QCOM Jumps 13%+ After Hours](https://www.reuters.com/business/retail-consumer/qualcomm-bets-ai-chips-break-smartphone-reliance-faces-crowded-race-2026-06-24/?ref=adjacent.media)

Qualcomm is designing China-specific chips to ensure it has seats at every table. *(Reuters)*

#### [Utah Senate President Who Championed Data Center Beside the Great Salt Lake Loses Republican Primary](https://www.nytimes.com/2026/06/24/us/j-stuart-adams-utah-senate-data-center.html?unlocked%5Farticle%5Fcode=1.slA.cczz.aovAsxmVCRzC&smid=bs-share&ref=adjacent.media)

Data center siting is becoming a voting issue, not just a zoning one. *(New York Times)*