It’s been a choppy but ultimately winning week for Wall Street. Despite a tense backdrop — think Middle East jitters and oil price swings — investors decided to look past the noise and buy the dip. All three major US indexes closed the week higher, with the S&P 500 nudging back toward record territory. The headline act, though, wasn’t the indexes at all — it was Meta Platforms, which just had its best week in over two years. Grab a coffee, this one’s got a lot going on.
📰 What’s Happening
Let’s start with the big mover: Meta Platforms jumped nearly 15% this week, its strongest weekly performance since early 2024, and climbed 22% in just the past ten trading days. The trigger? A leaked internal memo, reported by Reuters, suggesting Meta is building its own custom AI chip as part of a plan to add 14 gigawatts of computing capacity by 2027. Bank of America ran the numbers and reckons this could mean Meta’s cost per gigawatt of AI...