Western Digital, Nova, Amtech, Monolithic Power Systems, and Texas Instruments shares skyrocket, what you need to know

Anthony Lee

Wed, October 21, 2026 at 7:50 PM EDT 4 min read

What happened?

A number of stocks jumped in the afternoon session after strong demand for artificial intelligence hardware and robust corporate earnings reignited investor optimism across the broader AI technology landscape.

As reported by CNBC, this rally lifted major players across semiconductor manufacturing and cloud computing infrastructure—including AMD, Nvidia, Micron, and Marvell—after SpaceX reported a massive 161% jump in third-quarter revenue. The network noted that investors responded enthusiastically to these results as clear indications that spending on artificial intelligence remains resilient, particularly after SpaceX revealed its AI business grew ninefold to generate $7.56 billion in the quarter.

Providing a massive secondary catalyst for the tech-heavy Nasdaq, CNBC reported that Elon Musk announced SpaceX and Tesla have officially formed special committees to discuss a merger between the two companies. As corporate performance numbers demonstrate ongoing investments in technical infrastructure, CNBC observed that market sentiment shifted swiftly back toward the suppliers powering this computing ecosystem, aided heavily by anticipation of Tesla’s upcoming earnings report later today.

Ultimately, CNBC highlighted that these sustained capital expenditure commitments and resulting revenues alleviate recent market concerns of an impending AI deceleration, proving that the infrastructure build-out continues to offer a long runway for component designers and infrastructure providers alike.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

Memory semiconductors company Western Digital(NASDAQ:WDC) jumped 3.2%. Is now the time to buy Western Digital? Access our full analysis report here, it’s free.
Semiconductor manufacturing company Nova(NASDAQ:NVMI) jumped 3.2%. Is now the time to buy Nova? Access our full analysis report here, it’s free.
Semiconductor manufacturing company Amtech(NASDAQ:ASYS) jumped 1.8%. Is now the time to buy Amtech? Access our full analysis report here, it’s free.
Analog semiconductors company Monolithic Power Systems(NASDAQ:MPWR) jumped 1.9%. Is now the time to buy Monolithic Power Systems? Access our full analysis report here, it’s free.
Analog semiconductors company Texas Instruments(NASDAQ:TXN) jumped 2.4%. Is now the time to buy Texas Instruments? Access our full analysis report here, it’s free.