The analysis evaluates the future trajectory of momentum in the stock market, specifically highlighting the influence of 'hyperscalers' on the semiconductor industry. It is noted that major technology companies are engaged in a significant spending spree to develop Artificial Intelligence (AI) infrastructure. Microsoft, for instance, has recently committed $30 billion to build out AI infrastructure in the UK. Similarly, Google has invested $15 billion to establish its inaugural AI hub in India. These substantial investments, driven by the increasing need for AI computational capabilities, are projected to escalate the demand for advanced semiconductor chips. The inference drawn is that the manufacturing of these critical components relies heavily on specialized equipment, with ASML positioned as a pivotal supplier. Therefore, the observed capital expenditure in AI infrastructure is presented as a fundamental driver sustaining upward momentum for ASML's stock, indicating a bullish outlook based on anticipated continued demand for its manufacturing technology.