Muse Concept Names Take the Baton as the Agent Trade Spreads

Memory names led on September 22nd, with the broader AI supply chain and "Muse concept stocks" extending gains and the Nasdaq Composite closing at another record. AMD, Intel, Arm Holdings and Qualcomm continued higher across the CPU group, while Shopify rose more than 7% — up nearly 15% over two sessions after announcing a partnership to integrate Meta's Muse agent. What's changed from the prior session is the direction of the spread. Capital is moving from the compute layer out toward applications and partners, with agent integration itself becoming a pricing input. This is the familiar second phase of a thematic trade: from hardware beneficiaries to companies associated with the concept. Worth noting that an integration announcement doesn't map directly to revenue. Shopify's 15% two-day move rests on partnership expectations, with no disclosed figures yet on revenue-share terms, user conversion, or the effect on GMV. This leg also has macro support from falling oil prices and Treasury yields — meaning some of the valuation relief isn't coming from AI fundamentals at all. Do you see agents becoming AI's killer app? Would you rather own compute or the application layer? Flexibly allocate across core U.S. tech equities and diversified RWA portfolios on Bitget — achieve efficient cross-asset allocation and precision risk hedging: https://www.bitget.com/promotion/futures-rwa