Shares of Opendoor Technologies are spiking after the company announced it’s been selected for inclusion in the Russell 3000 Index.

Being added to indexes often brings along with it flows from funds that track those benchmarks.

“Inclusion in the Russell 3000 Index typically means membership in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index, as well as in relevant growth and value style indexes,” per the press release.

These additions will be effective after June 26.

What a difference a year makes: Opendoor was removed from the Russell 2000 at about this time last year because its share price had failed to hold $1. The flows associated with getting booted from the Russell 2000 was cited as a reason for elevated short interest on the stock, which one Redditor (u/gregw134) argued made Opendoor an attractive buy — months before its parabolic surge.

Since then, the company has picked up a horde of investors (the so-called “$OPEN ARMY”), overhauled its management ranks, and appears to be on the precipice of breaking even.

Eric Jackson, the architect of the explosion in retail attention on Opendoor, shouted out that Redditor’s research in an interview with Sherwood News:

“That was a great post. It was a really thoughtful post. Really, really detailed. I think I buy into probably 90% to 95% of what he’s saying. And I didn’t know about the whole ETF unloading, kicking it out of the Russell 2000, as a potential reason why it dipped down to $0.50 a couple of weeks ago.”

It’s also a strong session for stocks geared to the real estate market in general, with the fever in long-term bond yields seemingly well and truly broken.

IREN jumped postmarket on Tuesday after management announced that they’d secured supply to make good on their recent deal with Nvidia.

The data company reached a $1.6 billion agreement with Dell for air-cooled Blackwell systems to service its AI cloud contract with the chip designer announced earlier this month.

The stock has pared much of its gains in early trading on Wednesday.

This previously revealed partnership will see IREN build out data centers designed by Nvidia to optimize for its hardware. Some of that compute will then be utilized by Nvidia, which also received warrants to invest up to $2.1 billion in IREN.

Once these systems are up and running in early 2027, IREN said that its annualized run rate would rise to $4.4 billion from $3.7 billion.

“Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything,” IREN cofounder and CEO Daniel Roberts said in a statement. “Our relationship with Dell ensures access to hardware at the scale and speed the market demands.”

Tesla’s recovery across Europe continued last month, but it still lags BYD, according to new data from the European Automobile Manufacturers’ Association. In April, BYD registered more than twice as many cars as Tesla in the EU, UK, and the European Free Trade Association. It’s also growing faster, with BYD up 115% compared with April 2025, while Tesla grew 47% in that time. Year-to-date registration data tells a similar story.

Tesla thinks upcoming approval of its supervised Full Self-Driving tech is integral to its success on the continent.

“It’s worth noting that we do not actually yet have approval for supervised FSD in Europe,” CEO Elon Musk said during an earnings call last year. “So our sales in Europe, we think, will improve significantly once we are able to give customers the same experience that they have in the US.”

Tesla recently received approval for a version of its supervised FSD in the Netherlands, its first European market, and expects “EU-wide” approval in the second or third quarter of this year.

European vehicle regulators could potentially vote on the issue in July.

The market has deeply ingrained software-phobia right now, as traders are highly sensitive to anything software-related giving off any whiff of AI-related weakness. So, it’s not a huge surprise to see Zscaler down more than 20% in premarket trading on Wednesday after the cloud security company gave a softer customer growth outlook than expected, despite reporting solid results for its fiscal Q3.

Zscaler announced better-than-expected results across its key metrics for the quarter ended April 30, 2026, including revenue of $850 million (topping analyst estimates of $835 million, compiled by Bloomberg), annual recurring revenue (ARR) of $3.53 billion (vs. the $3.51 billion expected), and adjusted earnings per share of $1.08 (vs. expectations of $1.01).

But Zscaler’s ability to continue its winning streak is the main question — and as far as the company’s early guidance for new customer additions, its future looks bleaker than expected. The security firm now anticipates total ARR and revenue growth of 16% to 17% for fiscal 2027. In the nearer term, Zscaler also expects Q4 revenue to fall between $875 million and $878 million, with its upper limit below Wall Street estimates of $879 million.

Bloomberg Intelligence analysts noted that Zscaler’s fiscal 2027 ARR growth figure “suggests muted new customer additions are likely to weigh on the top line,” adding that the company “lacks identity security for AI agents in the suite, which may limit larger order closings.” Mizuho, RBC Capital Markets, and Evercore ISI analysts, similarly focusing on future guidance, also lowered their price targets for the stock following the call.

Separately, Citi analysts, who spoke to the company’s management following the results, suggested that new customer growth could provide some upside, as new logo growth wasn’t factored into the 2027 baseline. However, they also noted disruptions to the sales organization from two leadership changes, though the Zscaler’s CEO and CFO seem confident that those impacts will be absorbed, and don’t expect disruptions at the “quota-bearing level.”

Peers CrowdStrike and Palo Alto Networks also sank around 2% before the bell on Wednesday.

Ethereum has been stuck between $2,000 and $2,150 in the past week amid ongoing scrutiny toward the Ethereum Foundation, which has seen its talent pool thin out.

“ETH continues to show weakness... ETH/BTC keeps grinding lower, at a 10-month low,” Jasper De Maere, a desk strategist and OTC trader at Wintermute, posted on X. “The marginal risk dollar went into equities, not crypto. When AI semis are working and yields are easing, crypto should follow. It didn’t.”

De Maere continued, “Based on our OTC flow, we see that institutional buying pressure, which was responsible for the recent +ve price action, is now fading quickly, indicating that institutional investors might be at capacity or are re-assessing risk/reward at these new levels.”

Data from SoSoValue shows ethereum ETFs have seen 10 consecutive days of outflows, totaling more than $471.1 million.

Meanwhile, the blockchain’s cofounder Vitalik Buterin, who sits on the board of the Ethereum Foundation, addressed the controversy surrounding the nonprofit over the weekend. Holding around 0.16% of ethereum’s total supply, the foundation is not the center of blockchain network, but rather “one node, with a defined purpose alongside other nodes,” according to Buterin, who says nearly 90% of his net worth is in ethereum.

“EF is still in a transition period, and we expect its new long-term form to stabilize over the next few months,” Buterin said, adding that the EF will sell ethereum less and focus on remaining censorship-resistant, open-source, private, and secure.

“The most high-value ‘product’ of the ethereum blockchain, financially speaking, is ETH the asset. Ethereum secures $250 billion of ETH,” Buterin continued. “That said, there are aspects of supporting ETH the asset — *necessary* aspects even — that are outside the scope of the EF. This is where we need other heroes (some of whom hold more ETH than the EF does) to step in and help.”

Carlos Guzman, vice president of research at crypto trading firm GSR, said Vitalik’s response is a bet on credible neutrality as ethereum’s durable competitive advantage, which attracts liquidity, users, and apps, because “builders and institutions gravitate toward platforms they can trust won’t be captured or co-opted. This is what builds network effects, and network effects are what create durable moats,” Guzman wrote on X.

And yet, Guzman argued credible neutrality is just one piece of the puzzle:

“The risk is that a nimbler chain builds sufficient network effects by executing well on fees, throughput, and UX today while promising credible neutrality tomorrow. Vitalik’s vision is arguably the right one. Whether the ecosystem can execute on it before that window closes remains uncertain.”

Oklo shares jumped following the announcement that the company has been selected by the US Department of Energy for advanced negotiations under the Surplus Plutonium Utilization Program. Under this federal program, Oklo will help to turn excess legacy Cold War nuclear material into commercial fuel for its advanced power plants.

Read more: Inside Oklo’s audacious plan to turn leftover weapons-grade plutonium into a nuclear bridge fuel

Oklo will partner with European nuclear developer Newcleo, validating their October 2025 partnership including a Newcleo-affiliated investment of up to $2 billion, to convert material that already exists into fuel for advanced reactors, using it to generate electricity and consume it through fission.

“Fuel supply constraints are a key throttle to advanced reactor development,” said cofounder and CEO Jacob DeWitte. “This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner.”

Advanced nuclear companies are facing roadblocks trying to find fuel. This deal gives Oklo a chance to reduce its dependence on foreign supply chains. Wall Street is closely watching what this means for Oklo’s business model. Wedbush maintained its “outperform” rating and a $110 price target on the stock, emphasizing that this is a helpful “addition” to Oklo’s multipronged fuel strategy, rather than a stand-alone fix.

Just last month, Oklo announced a collaboration with Los Alamos National Laboratory and Nvidia “to support critical infrastructure development and accelerate the deployment of nuclear energy.”

Qualcomm is spiking after a Bloomberg report that the chip company is poised to sell “millions” of AI chips to TikTok owner ByteDance.

The report, citing people familiar with the matter, said these custom processors would be used to “support the social media company’s AI agent software.”

Qualcomm had come under pressure earlier this year because of softness in its China handset business in light of difficulty accessing memory chips, which are in a severe supply crunch. At one time, the company had seemingly been counting on supporting AI-enabled devices to earn its role in the boom — and still might be doing that, with analysts speculating over a potential partnership with OpenAI for an AI smartphone chip.

But it’s also been telegraphing a shift toward playing a bigger role upstream in providing hardware for data centers.

In the press release that accompanied Qualcomm’s recent earnings report, President and CEO Cristiano Amon touted the company’s entry into the data center business, with initial shipments to a “leading hyperscaler” on track for later this year, and said that investors could expect to hear more on Qualcomm’s growth plans in data center and physical AI at its Investor Day on June 24.

Seems like they’re on track.

Traders are happy about potential peace. But they’re even more happy that Micron exists.

That’s the best way to describe the price action on Tuesday.

President Donald Trump’s comments this weekend that a deal with Iran has been “largely negotiated,” along with reports that the US Navy has restarted shepherding vessels through the Strait of Hormuz, have contributed to a worldwide rally in stocks and sell-off in crude oil.

Some normal things you’d expect to see are happening:

• Within US markets, the SPDR S&P Retail ETF is up; the Consumer Staples Select Sector SPDR Fund is selling off. A world in which high gasoline prices are placing less pressure on household budgets is positive for more discretionary spending versus necessities. Checks out.

• Europe is typically much more adversely impacted by energy price shocks than the US. Accordingly, the iShares MSCI Eurozone ETF is outperforming the SPDR S&P 500 ETF. Checks out.

  • Zooming out, the iShares MSCI ACWI ex-US ETF is crushing SPY by over 1%. Checks out — that’s what was happening before the war was on anyone’s radar.

But... there’s also some weird stuff beneath the hood.

When global stocks outperform the US by a ton, it’s generally because tech is out of favor. After all, the US market is heavily weighted toward megacap tech giants. However, a big reason why ACWX is trouncing the US is because of how insanely well the iShares MSCI South Korea ETF and iShares MSCI Taiwan ETF are doing! Those countries, of course, are even more heavily levered to AI hardware than the US market. The new Street-high view on Micron in particular is fueling gains for Korean stocks, where fellow memory chip giants SK Hynix and Samsung are the biggest components.

The tech-heavy Invesco QQQ Trust is putting in a bigger gain than European stocks, as of 11 a.m. ET.

It’s extremely rare for Europe, a major portion of global equities, to be lagging US tech when ACWX is leaving SPY in the dust.

The combination of global equities outperforming by at least 1% while the Nasdaq 100 bests EZU hasn’t happened since December 16, 2022. If that holds, it would be only the sixth time this has happened in the past 15 years.

(My kingdom for an MSCI ACWI ex-US ex-Korea ETF... bonus points if you can throw in an ex-Taiwan, too!)

The lesson seems to be: peace is great; the small pieces that help the brains of the AI boom access information are even better.

TeraWulf shares are rising after the company announced it has acquired a 1-gigawatt hyperscale data center site in eastern Kentucky.

The project, known as the Muskie Data Campus, marks an expansion of the company’s digital infrastructure capabilities and accelerates TeraWulf’s transition from a bitcoin miner into an HPC and AI infrastructure provider. The newly acquired site spans 285 acres and is engineered to support more than 1 gigawatt of data center capacity over time, with the first 500 megawatts scheduled to ramp up in the second half of 2028.

The Muskie Data Campus represents TeraWulf’s second major digital infrastructure campus in Kentucky, alongside the company’s 480-megawatt Justified Data campus in Hancock County.

“This acquisition further reinforces the strategy we discussed on our first quarter earnings call: securing and developing large-scale, power-advantaged sites capable of supporting the next generation of HPC workloads,” Paul Prager, chairman and CEO of TeraWulf, said. “As we said then, the defining constraint in this market is no longer computing hardware — it is power, transmission infrastructure, and execution certainty.”

TeraWulf reported strong Q1 earnings results in early May. While heavy capital expenditure resulted in a GAAP loss, the company generated $34 million in revenue. The stock is up more than 120% year to date.

Shares of Wolfspeed and Navitas Semiconductor are rising after power chip company Vicor boosted its Q2 guidance and a potential technological breakthrough by China’s Huawei is helping to boost US chip stocks with a big Asia footprint.

Vicor attributed the strong guidance in part to “royalties from an additional licensee to its patented power system technology.” Wolfspeed is a little more upstream from Vicor in the power chip industry as a silicon carbide producer.

Huawei, one of China’s national tech champions, said it’s developed a “LogicFolding” technology that will allow it to start producing 1.4-nanometer chips by 2031.

This announcement helped lift sentiment across Chinese semiconductor names. Semtech, another stock with historically elevated sales exposure to Asia, was up big in early trading but pared most of its gains. ASML is modestly lower, perhaps a nod to the idea that Huawei’s ability to manufacture chips this tiny without its top-notch EUV lithography machines (in light of export restrictions to China) undercuts its critical role in advanced semiconductor manufacturing.

(The irony of any US stocks going up on a Chinese tech self-sufficiency push is not lost on us, especially given competition from Chinese silicon carbide suppliers helped push Wolfspeed into Chapter 11 bankruptcy!)

TSMC, for its part, plans on having chips that small in mass production by 2028.