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J. Edward Moreno

Lumentum jumps on Nasdaq-100 Index inclusion

Lumentum rose in early trading on Monday after Nasdaq announced on Friday that it would add the optics company to its benchmark index alongside some of the world’s biggest tech companies.

Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.

The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.

On May 18, it will join the Nasdaq-100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.

Lumentum Holdings Inc. to Join the Nasdaq-100 Index® Beginning May 18, 2026

Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.

The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.

On May 18, it will join the Nasdaq-100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.

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Paige Oamek

Akamai climbs to highest level since 2000 after reportedly securing Anthropic as a customer

Akamai’s billion-dollar AI infrastructure customer is Anthropic, Bloomberg reported on Friday. The cloud services company extended gains to trade up over 25% following the news.

On Thursday, the company announced a seven-year, $1.8 billion commitment from a “leading frontier model provider.”

Anthropic has been on a mad scramble to boost compute capacity after facing widespread complaints about Claude usage limits and seeing OpenAI position its accumulation of computing power as a competitive advantage.

In a little over a month, Anthropic has struck or expanded deals with CoreWeave, Amazon, Google, Broadcom, as well as xAI (through SpaceX).

As part of that xAI pact, Anthropic announced that it would be increasing usage limits for paying customers.

Akamai Technologies jumps on $1.8 billion cloud infrastructure deal

Akamai Technologies jumps on $1.8 billion cloud infrastructure deal

Anthropic has been on a mad scramble to boost compute capacity after facing widespread complaints about Claude usage limits and seeing OpenAI position its accumulation of computing power as a competitive advantage.

In a little over a month, Anthropic has struck or expanded deals with CoreWeave, Amazon, Google, Broadcom, as well as xAI (through SpaceX).

As part of that xAI pact, Anthropic announced that it would be increasing usage limits for paying customers.

markets
Helena Cheng

NuScale Power falls on disappointing drop in Q1 sales

NuScale shares are dropping in the early trading session after it released Q1 earnings yesterday after the bell that are failing to rejuvenate any excitement in the once high-flying, early-stage nuclear energy company.

The company announced Q1 revenue of just $560,000, well below the $10.5 million estimate, with sales down materially year over year thanks to old licensing and design deals that have since been completed.

The lack of financial progress has made NuScale Power more of a momentum-driven way to play the intersection of clean energy and AI infrastructure, particularly as hyperscalers and data center operators search for long-term power sources.

“The demand for reliable, carbon-free power has never been greater, and NuScale is the only SMR technology provider with a U.S. Nuclear Regulatory Commission approved design, an established supply chain and NPM components currently in production for commercial use to meet this essential need,” said John Hopkins, NuScale president and CEO. “We are building the infrastructure that this pivotal moment requires.”

Analysts at Goldman Sachs trimmed their price target to $9 from $10 in the wake of this report.

The company ended this quarter with cash, cash equivalents, and short- and long-term investments of $1.0 billion. The stock has dropped more than 25% year to date.

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