Editorial companion

What stands out

Monday’s AI-driven selloff looked like a headline tantrum, and Jed Ellerbroek called it a kneejerk reaction while laying out two connected bull cases. He argues Microsoft can convert its legacy software franchise into durable cloud revenue, using Azure and enterprise relationships to lock in spending tied to data center expansion. For Nvidia, Ellerbroek points to widening market share and what he calls an attractive valuation, arguing continued data center buildouts could be a tailwind for U.S. gross domestic product (GDP) as CNBC guests have warned about power and cooling constraints.