AI stocks bounce back after bruising selloff; CoreWeave jumps on Goldman upgrade
CRWV•AI-linked stocks rebounded on Monday as Treasury yields and crude prices eased, with CoreWeave rising 3.4% after Goldman Sachs upgraded it to buy. The Philadelphia semiconductor index gained 2.8%, putting it on track to end an eight-session losing streak after shedding about $2 trillion in market value.
1. AI shares rebound
AI-linked stocks rose on Monday after last week's selloff, with lower Treasury yields and easing crude oil prices offering relief. CoreWeave gained 3.4% after falling more than a quarter last week amid concerns about its $50 billion debt load.
2. Brokerage upgrades
Goldman Sachs upgraded CoreWeave to buy from neutral, citing tight computing capacity and a performance advantage it said could lift annual recurring revenue per megawatt over the next two years. The brokerage called the recent pullback a buying opportunity. Intel rose 5.6% after J.P. Morgan upgraded it to neutral from underweight, pointing to agentic AI workloads and tight advanced-chip supplies.
3. Chips recover
The Philadelphia semiconductor index rose 2.8%, on course to snap its longest losing streak since October 2008, after losing about $2 trillion in market value during an eight-session decline. The index had fallen more than 11% last week. Nvidia, AMD, Broadcom and Micron also rose on Monday after sharp losses last week.
