Tech rode the cloud's AI wave, but Reddit stumbled hard, leaving us keen for AMD's chip test

Evening brief: Tech rode the cloud's AI wave, but Reddit stumbled hard, leaving us keen for AMD's chip test

Tech Rallies on AI Cloud Boom: Surging cloud infrastructure spending lifted tech sentiment, helping indexes bounce back despite rising Treasury yields and inflation caution. Amazon Soars 15.32% on AWS Beat: Shares surged 15.32% after Q2 revenue jumped 20% to $200.6B, powered by AWS cloud growth accelerating to 36.7%. Reddit Crumbles 20.99% on Search Warnings: The stock plummeted 20.99% as management warnings about choppy Google search referral traffic overshadowed an otherwise strong Q2 earnings beat. Eaton Powers Up 7.32% After Beat and Raise: Shares jumped 7.32% following record Q2 adjusted EPS of $3.15 and raised full-year guidance on booming data center demand. AMD Earnings Test AI Chip Momentum: All eyes turn to AMD's Q2 report on August 4th to see if chip demand can validate rich valuations.

Tech Rallies on AI Cloud Boom

Surging cloud infrastructure spending lifted tech sentiment, helping indexes bounce back despite rising Treasury yields and inflation caution.

Amazon Soars 15.32% on AWS Beat

Shares surged 15.32% after Q2 revenue jumped 20% to $200.6B, powered by AWS cloud growth accelerating to 36.7%.

Reddit Crumbles 20.99% on Search Warnings

The stock plummeted 20.99% as management warnings about choppy Google search referral traffic overshadowed an otherwise strong Q2 earnings beat.

Eaton Powers Up 7.32% After Beat and Raise

Shares jumped 7.32% following record Q2 adjusted EPS of $3.15 and raised full-year guidance on booming data center demand.

AMD Earnings Test AI Chip Momentum

All eyes turn to AMD's Q2 report on August 4th to see if chip demand can validate rich valuations.

Posture: Fear sentiment (42) warrants a selective posture, buying AI cloud infrastructure and semi equipment leaders on pullbacks.

Tickers in focus: AMZN, RDDT, AMD

Upcoming earnings

• AMD — 2026-08-04, After Market Close
• KTOS — 2026-08-04, TBD
• PINS — 2026-08-04, TBD
• APP — 2026-08-05, After Market Close
• DASH — 2026-08-05, After Market Close
• DIS — 2026-08-05, After Market Close

The day's moves on the ledger

Every entry below is public and permanent. "Human call" means the desk decided; "Robot call" means the nightly model did.

• Aug 2, 2026 · ALAB — Added by the desk · Human call
  Joins the Gainz Lab AI web — the connectivity layer of the AI buildout.