This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning. It includes: - The chart of the day - What we're watching - What we're reading - Economic data releases and earnings The stock market rally isn't yet broadening, with investors showing interest in anything AI-related. Elon Musk recently announced that Super Micro will supply the hardware for his AI startup's supercomputer, leading to a surge in the stock price. Similarly, when Dell's CEO mentioned building an "AI factory" for Musk's xAI in partnership with Nvidia, Dell's shares also rose. Although these gains were temporary, they highlight the significance of Musk's influence and the impact of AI-related developments on the market. SMCI's stock has risen over 200% this year, while Dell's stock has almost doubled. The earnings potential of companies like Nvidia, Tesla, and the major AI platform giants is driving the current market rally, accounting for the majority of the gains so far.

Including Musk in this mix further enhances the positive sentiment. Investors looking to benefit from Wall Street's excitement around AI can indirectly invest in Musk's ventures by acquiring stocks of their suppliers. This strategy applies to the broader AI industry beyond hardware manufacturers. Utility companies, for example, are capitalizing on the energy demands of AI systems. Companies like Amazon, Alphabet, Microsoft, and Meta are projected to spend $200 billion this year on cloud and AI investments, leading to increased power demand from data centers by 2030. While early entry into the AI market is advantageous, the current frenzy shows that any investment related to AI is generating substantial returns. Hamza Shaban, a Yahoo Finance reporter, covers market and economic news. You can follow him on Twitter @hshaban. For the latest technology news impacting the stock market, click here to read more from Yahoo Finance.