US Stocks Dip as AI Infrastructure Firms Report Growth
US stock indices declined following October inflation data while several AI data center infrastructure suppliers reported record quarterly revenues.
U.S. stock indices declined on November 10, 2026, after the Bureau of Labor Statistics released October Consumer Price Index data showing a 0.4 percent seasonally adjusted increase for all urban consumers.
Despite the broader market downturn, companies providing AI data center infrastructure reported strong quarterly growth. Generac Holdings Inc. achieved record net sales of $1.29 billion and noted a $4.5 billion backlog for the data center market. Coherent Corp. reported revenue of $2.37 billion, and Sanmina Corporation saw fiscal 2026 revenue grow by 79%.
Other infrastructure suppliers also posted record results. Onto Innovation Inc. reached record quarterly revenue of $410 million, and AAON, Inc. saw net sales rise 84.1% to $707.4 million. However, AAON, Inc. also disclosed a material weakness in its internal control over financial reporting, leading the company to restate its financial statements for the first and second quarters of 2026.
