TSMC’s reported pricing power and the sharp semiconductor rally suggest AI infrastructure demand remains robust, but one strong session alone does not confirm a durable trend reversal. For SpaceX, a $1.75 trillion valuation and very limited float could drive extreme volatility, making patience for price discovery a reasonable approach over chasing the open. Adobe’s reaction, alongside recent moves in Oracle and SMCI, indicates investors are becoming less tolerant of execution, capital allocation, and leadership uncertainty. Screening AI names may increasingly require focusing not only on growth, but also on management stability, capital discipline, and earnings visibility.