1 min read
Chip stocks recovered on Tuesday as AI jitters eased following a recent sell-off and hit to sentiment.
The PHLX Semiconductor Index (^SOX), erased early morning losses to climb 1%, extending gains of more than 1.5% on Monday.
AI chip giants Nvidia (NVDA) and AMD (AMD) also erased early morning gains to climb into green territory. US chipmaker Intel (INTC) extended gains from Monday when JPMorgan upgraded the stock to a Buy rating.
Concerns over the AI trade briefly resurfaced following a disappointing market debut by South Korean neocloud provider Elice (0158S0.KQ).
A US tech sell-off in early trading was short-lived, however. Shares of CoreWeave (CRWV), a data center operator that rents out computing capacity, gained 3% during the session after a rebound attempt fizzled in the previous session.
216.65 -0.44 (-0.20%)
As of 11:22:52 AM EDT. Market Open.
NVDA AMD CRWV
Other chip stocks gained on Tuesday, including contract chipmaker Taiwan Semiconductor (TSM).
Memory highfliers Micron Technology (MU) and SK Hynix (SKHY) turned green after declining earlier in the session.
Ines Ferre is a senior business reporter for Yahoo Finance.
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