The AI Investing Pulse

November 20, 2025

In this Week’s Edition:

1. Analysis - NVIDIA’s Blowout Earnings & Four Stocks to Watch

2. Stock Ideas - Bloom Energy is up 400% in 2025, can it ride the momentum higher?

3. News - Microsoft & Nvidia back Anthropic in $30bn Azure deal

4. Startups - Real AI solutions will endure beyond the bubble

5. Trends - Quantum‑AI and the future of computing

6. Other News - Microsoft unveils new AI tools for business

7. Videos - Dan Ives: Buying opportunity before the year‑end tech rally?

NVIDIA’s Blowout Earnings & Four Stocks to Watch

Last week saw one of the sharpest drawdowns in the Hardware & Infrastructure Stack category for a few months, with performance declining –5.77%. Yet yesterday, NVIDIA delivered a blockbuster earnings report that paints a very different picture of the underlying fundamentals driving the AI infrastructure cycle.

Far from signalling a slowdown, NVIDIA’s fiscal Q3 2026 results (released 19 November) highlight extraordinary, ongoing demand for AI compute at a scale that suggests the recent sector-wide correction was driven more by sentiment and profit-taking than by any deterioration in business fundamentals.

NVIDIA Q3 2026 Earnings: A Resounding Beat

NVIDIA exceeded expectations across all major financial metrics, sending shares up more than 4% in extended trading.

The report confirms that NVIDIA is not only sustaining its leadership within the AI hardware stack but is accelerating into 2026 with unprecedented demand across cloud, enterprise, and edge markets.

Key Demand Drivers Reinforcing NVIDIA’s Strength

GPU Demand “Off the Charts”

CEO Jensen Huang reported extraordinary demand for the company’s current-generation Blackwell GPUs, with its successor, Blackwell Ultra, already positioned as the company’s new bestseller. He emphasised that “cloud GPUs are sold out”, confirming persistent, large-scale demand from hyperscalers including Microsoft, Amazon, Google, Oracle, and Meta.

Broad-Based Business Expansion

Growth extended well beyond AI data centres, with Gaming revenue up 30%, Professional Visualisation up 56%, Automotive & Robotics up 32%

Net income rose 65% to $31.91B, reflecting remarkable operational strength and profitability.

NVIDIA continues to hold a fundamental score of 100 in our AIIP scoring model, with exceptional metrics across Growth, Financial Quality, and Valuation (PEG).

Reversal Catalyst for the Hardware & Infrastructure AI Stack

The steep sell-off in this sector last week appears increasingly disconnected from NVIDIA’s operational momentum. The earnings beat provides a powerful signal that:

• Underlying demand for AI compute remains robust

• Short-term weakness was likely driven by sentiment rather than fundamentals

• High-quality hardware leaders remain positioned to lead any recovery

NVIDIA’s results effectively reset the narrative for the hardware ecosystem.

Four AI Hardware Stocks to Watch

Following the –5.77% decline in the Hardware & Infrastructure stack, we identified four Hardware & Infrastructure stocks from our AI stocks universe that have shown relative resilience during the recent pullback. Each of the names below has been affected by the recent volatility, yet all remain above their 50-day moving average, with the exception of TSM, which is currently sitting directly on its 50-day level. These companies represent key hardware players that may be well placed to benefit if sentiment stabilises and confidence improves in the wake of NVIDIA’s earnings results.

Taiwan Semiconductor Manufacturing Company $TSM ( ▲ 1.61% )  

TSM is the world’s most advanced semiconductor foundry and the central manufacturing partner for high-end AI chips used by NVIDIA, AMD, and other major designers. Its cutting-edge fabrication technologies underpin the most sophisticated accelerators in the market. The stock declined –2.4% over the last five days, yet held up relatively well, bouncing off its 50-day moving average in after-hours trading, indicating continued investor confidence. With an AIIP Fundamental Score of 100, TSM remains one of the strongest fundamental names in the hardware stack.

Micron Technology $MU ( ▼ 1.13% )  

Micron is a leading supplier of advanced memory and storage solutions used across AI servers, data centres, and high-performance computing systems. Its high-bandwidth memory (HBM) products are increasingly critical for AI training and inference, as GPUs require ever-greater memory capacity and speed to support larger model architectures. The stock posted a –4.7% decline over the past week, but maintains strong momentum, reflected in an AIIP RS Score of 92, alongside strong fundamentals. With NVIDIA confirming record GPU demand, Micron stands out as a key beneficiary due to its essential position in the AI memory supply chain.

Advanced Micro Devices $AMD ( ▼ 2.93% )  

AMD is one of the largest designers of high-performance CPUs and GPUs, with a growing presence in AI acceleration through its Instinct MI300 series and next-generation data-centre processors. The company plays a central role in diversifying AI compute supply beyond NVIDIA, giving hyperscalers an alternative for large-scale training and inferencing workloads. AMD shares fell –9.8% over the last week, mirroring broader hardware-sector pressure. Despite this pullback, AMD’s improving product roadmap and increasing adoption of its AI accelerators support its strong fundamental profile, reflected in a Fundamental Score of 88 and positioning it as a strategically important competitor in the AI compute landscape.

Seagate Technology Holdings plc $STX ( ▲ 2.08% )  

Seagate provides high-capacity storage solutions that support the vast data requirements of AI workloads. The stock declined –5.3% during the last week but has shown resilience, holding support at the 20-day EMA, which has helped guide its recent uptrend. Backed by a RS score of 94, STX continues to demonstrate solid momentum as storage demand remains closely tied to the expansion of AI infrastructure.

Final Take

NVIDIA’s strong Q3 results provide renewed clarity around the underlying health of the AI compute cycle. The recent weakness in the hardware stack appears to have been driven more by sentiment than fundamentals. As confidence begins to normalise, high-quality names such as TSM and AMD, along with strong-momentum performers like MU and STX, could benefit from any improvement in hardware-sector sentiment. With markets set to open today (Thursday, 20 November), it will be important to see whether this renewed optimism begins to translate into early signs of stabilisation across the hardware segment.

This Week’s Top AI Stocks

If you’d like access to this week’s top AI stock identified by our AIIP methodology, the full breakdown is available exclusively in this week’s premium report.

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_{Disclaimer - This content is provided for informational purposes only and does not constitute investment advice, personal recommendations, or an invitation to engage in any investment activity. The information presented is derived from publicly available sources and should not be solely relied upon for making investment decisions. Always consult with a qualified financial professional before making investment choices. Past performance is not a guide to future performance.}

^{About AIIP - The AIIP Index tracks 173 AI-focused public companies across the full AI stack, serving as our benchmark for sector performance. All scores are proprietary and calculated using data from Finbox (powered by S&P Global Intelligence). AIIP Total Score (0–100) combines metrics for sales and EPS growth, financial quality, and valuation to assess overall business strength. AIIP Relative Strength (RS) Score measures a stock’s price performance relative to the AIIP 173 AI stocks. Ranking Status is based on score combinations: Fundamental: Total Score ≥ 70, RS < 80. Momentum: RS ≥ 80, Total Score < 70. Watchlist: Total Score ≥ 70 and RS ≥ 80}

TOP AI STOCKS PERFORMANCE

TOP AI ETFs PERFORMANCE

AI STOCKS IDEAS

Bloom Energy is up 400% in 2025, can it ride the momentum higher? — The Motley Fool

Zacks investment ideas feature highlights — Yahoo Finance

David Tepper buys three AI leaders — The Globe and Mail

Three cheapest big tech AI companies — Yahoo Finance

Citi picks its top chip stock — TipRanks

AI STOCKS & ETFs NEWS

Microsoft & Nvidia back Anthropic in $30bn Azure deal — MobileAppDaily
The partnership includes $15bn investment, expanded Claude optimisation, and a major Azure compute commitment.

Brookfield launches $10bn AI infrastructure fund — Yahoo Finance
A new $10bn fund backed by Nvidia and Kuwait Investment Authority aims to scale to $100bn in global AI investments.

OpenAI firms receive funding despite stock slumps — CNBC
AI companies continue raising capital even as their share prices decline.

AI STARTUPS

Real AI solutions will endure beyond the bubble — The Economic Times
Lightspeed’s Ravi Mhatre emphasises long‑term value in AI startups solving genuine problems.

20 startups transforming AI‑powered customer engagement — VentureBeat
Twilio recognises 20 companies driving new AI‑enhanced customer‑engagement experiences.

AI TRENDS

Quantum‑AI and the future of computing — InvestorPlace
Quantum computing’s integration with AI promises exponential capability gains across industries.

Anthropic’s $50bn AI gamble — Forbes
Debate rises around whether Anthropic’s aggressive investment signals innovation, or an AI bubble.

AI shifts from cloud to device — Aithority
Smarter on-device AI enables faster, private and offline‑ready functions on next‑generation smartphones.

OTHER NEWS

Microsoft unveils new AI tools for business — ITBrief
Ignite 2025 showcases new Microsoft 365 Copilot features enhancing productivity and automation.

AI and the future of learning — Global Issues
AI promises personalised learning worldwide, though ethical and access considerations remain vital.

VIDEOS

Dan Ives: Buying opportunity before the year‑end tech rally? — CNBC

_{Disclaimer - The information contained on this newsletter does not constitute investment advice or a personal recommendation, nor is it an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investments, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all. The information presented is based on publicly available data and sources believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Market conditions can change rapidly, and the information provided may no longer be up to date. This content is for informational purposes only and should not be construed as financial, legal, or tax advice. Data sources: S&P Global Market Intelligence}