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Chip stocks recover as AI jitters fade
Yahoo Finance • • business
Key Points:
- The PHLX Semiconductor Index rebounded on Tuesday, rising 1% after early losses, following a previous decline driven by AI-related concerns.
- Major AI chip companies Nvidia and AMD recovered from early losses and ended the day in positive territory, while Intel extended gains after a JPMorgan upgrade.
- Market jitters around AI stocks briefly returned due to a weak debut by South Korean neocloud provider Elice, but the overall tech sell-off was short-lived.
- Other chipmakers, including Taiwan Semiconductor, Micron Technology, and SK Hynix, also recovered from earlier declines to close higher.
- Data center operator CoreWeave's shares rose 3% after a previous session's failed rebound, reflecting renewed investor confidence in tech infrastructure stocks.
