Alphabet, Chip Stocks Lead Tech-Fueled Market Rebound

Chip stocks and other big technology shares rallied Monday, extending Friday’s gains and suggesting that fears of an AI bubble are receding.

Semiconductor companies Broadcom, Advanced Micro Devices AMD 5.53%increase; green up pointing triangle and Micron Technology MU 7.99%increase; green up pointing triangle were among the big winners, while Tesla and Google parent Alphabet GOOGL 6.31%increase; green up pointing triangle both added more than 6%. A fund tracking the “Magnificent Seven” tech stocks added 3.3%, its largest increase since May.