Quick Read – NOW and CRM surged 30% and 28% in a month as money rotates out of data center plays into software on constrained AI infrastructure. – MRNA exploded 115% in one week on melanoma vaccine data showing a 49% reduction in recurrence risk versus KEYTRUDA alone. – Cramer…
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On CNBC’s Squawk on the Street Monday morning, Jim Cramer said the tape has soured on the trade that carried the market for most of the past year. “We’re defaulting to all right, give me anything but tech, give me anything but data center. We’ve got. They dug their own graves,” he said, describing money leaving hyperscaler capex plays and moving into enterprise software and pharmaceuticals.
David Faber pressed on the mechanics. “There is a part of tech that’s showing some momentum. And interestingly, it’s of course, well, if we don’t move as quickly as might otherwise be the case, because the data center opposition is such that things are not getting built as quickly. Well, who’s the potential beneficiary?