SOXX•U.S. AI-linked chip stocks rose in premarket trading, with Marvell, Applied Materials and Intel up 5% to 7.4%, after the semiconductor index fell more than 12% Thursday.
Nvidia rose 4.3% and AMD gained 7.2%. Lam Research climbed 10.15%, Credo Technology rose 9.7%, Micron added 8.1%, and Western Digital and Sandisk gained between 5.5% and 8.9%. The Philadelphia Semiconductor Index fell more than 12% Thursday, its lowest level in over six months, while the Nasdaq 100 lost about $2.5 trillion in market value. The article cited concerns over excessive spending and the Democrats’ midterm triumph as factors behind the selloff.
