Investing.com – Wall Street spent the past week digesting a wave of AI-infrastructure spending announcements, and one deal in particular has been quietly compounding gains inside Investing.com’s algorithmic Strategies book: Qualcomm’s new custom-silicon partnership with Amazon Web Services. Our AI-powered Strategies platform has been holding the chipmaker for months, and the position is now one of the standout movers of the last two weeks. Readers who want the full list of AI-picked names behind moves like this can find it through InvestingPro’s ProPicks AI.

Qualcomm (NASDAQ:QCOM) is a current holding in Beat the S&P 500, a Strategy that – per its own description – is “picked from the S&P 500, refined by AI,” scanning all 500 index members monthly to select the 20 stocks it judges most likely to outperform over the coming month. QCOM has obliged: from the sheet’s clean month-start price of $165.71 on September 1 to $180.15 as of September 14, the stock is up 8.71% this month, and it remains an active holding across four of the platform’s US Strategies.

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The catalyst was Amazon’s September 8 announcement of a multi-generation collaboration in which AWS can purchase up to $60 billion of Qualcomm’s AI data-center chips and related products, alongside $4 billion in stock warrants letting Amazon buy QCOM shares at $161.26. Qualcomm shares jumped as much as 6.9% that day to $180.41, and the move had legs: RBC Capital raised its price target to $180 from $160 on September 9 (Sector Perform), and Piper Sandler upgraded the stock on September 11 as QCOM added another 3.23%, pushing the average Street target to roughly $194. Management has pointed to a $15 billion data-center revenue ambition by 2029 and 1.6-terabit optical connectivity as part of the buildout, while broad price increases across Qualcomm’s chip portfolio are helping protect margins as the Snapdragon X2 Elite platform ramps. Some profit-taking followed on dilution concerns, but the stock has held most of its gains.

Beat the S&P 500’s book as a whole is benefiting from the same AI-infrastructure tailwind: 12 of its 20 holdings are higher this month, for an equal-weighted average return of about 2.2% against a roughly flat S&P 500 – a 2.36-point edge over the index. Hewlett Packard Enterprise (+9.7%) and Intel (+9.2%) are the Strategy’s other top performers, while Mettler-Toledo (-6.6%) is the laggard.

On the downside, Amgen (NASDAQ:AMGN) – held in Dominate the Dow – is this month’s biggest single-stock drag among the Dow Strategies, down 12.9% after Novartis’s pelacarsen trial failed to show a cardiovascular benefit on September 4, raising doubts about the entire Lp(a)-lowering drug class that includes Amgen’s olpasiran. Amgen fell as much as 10% on September 8 alone, its worst Dow performance that day, after BMO Capital downgraded the stock to Market Perform with a $450 target, just days after AMGN had traded near its 52-week high of $447.03. IBM’s 7.6% monthly gain, helped by a JPMorgan software-focused upgrade, has kept Dominate the Dow’s book roughly flat versus its benchmark.

Across the board, Healthcare Heroes (+4.35 points versus its index) and Tech Titans (+4.09) are today’s top-performing US Strategies, with Beat the S&P 500 (+2.36) and Small-Cap Sprinters (+1.49) close behind – all riding some combination of AI-infrastructure spending and idiosyncratic single-stock catalysts. Financial Fortresses (-2.64) remains the laggard.

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