EL7.AI
StocksMedium•23 July 2026•
2 min read

Hut 8 Shares Surge on Alphabet AI Capex Boost and Morgan Stanley Initiation

Key Facts

1Hut 8 Corp shares surged Thursday driven by AI infrastructure sector optimism following Alphabet's quarterly earnings call.
2Morgan Stanley initiated coverage on Hut 8, providing a stock-specific catalyst alongside broader sector tailwinds.

In a move reflecting the accelerating investment in AI infrastructure, Hut 8 Corp shares experienced a significant surge during Thursday's trading session. This momentum was driven by Alphabet Inc's earnings results, which bolstered sector-wide optimism, alongside Morgan Stanley initiating coverage of the stock with a bullish outlook. According to reports, the rally stems from a combination of positive sentiment in the high-performance computing space and specific catalysts tied to the company's independent performance.

Alphabet's upward revision of its 2026 capital expenditure forecast to a range of $195 billion to $205 billion provided a major tailwind for AI-related infrastructure stocks. Simultaneously, Morgan Stanley set a price target of $263 for HUT shares with an Overweight rating, citing the company's execution record in the data center sector. Per market data, GOOG traded at $319.91 on July 23, 2026, while HUT had traded at $109.86 on July 22, 2026, prior to the full impact of these catalysts.

Traders are now watching whether HUT can sustain its levels above recent support zones after hitting a daily high of $114.60 according to July 22 data. With no major upcoming economic events specifically targeting the tech sector in the immediate calendar, focus remains on institutional flow following the Morgan Stanley report. GOOG stood at $319.91 (July 23, 2026) as the market awaits further sector catalysts.