Evening 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.

Micron Q3 Revenue Up 346% YoY, Stock Jumps 14%+ After Hours

$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 (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

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

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