Semiconductor shares surged on Tuesday, led by memory chip makers SK hynix and Micron Technology as investors bet on sustained AI-driven demand. SK hynix climbed about 9%, extending momentum from its Nasdaq debut earlier this month, while Micron Technology gained roughly 7%, adding to its strong 2026 performance on continued demand for high-bandwidth memory used in artificial intelligence systems. The rally spread across storage companies, with Seagate Technology rising about 8%, Western Digital advancing nearly 10%, and Sandisk adding about 9.5%. Chip designers also participated, with Advanced Micro Devices up around 5.5% after expanding its AI collaboration with Microsoft and ahead of its Advancing AI 2026 event, and Intel climbing about 6% before its scheduled second-quarter earnings release later this week. The broader semiconductor rally lifted the Philadelphia Semiconductor Index about 4%, while major U.S. benchmarks also traded higher, with the S&P 500 up about 0.6%, the Nasdaq Composite gaining around 1%, and the Dow Jones Industrial Average edging up roughly 0.4%.
SK Hynix Inc
Intel Corporation
Micron Technology Inc
Sandisk Corp
Advanced Micro Devices Inc
Microsoft Corporation
Seagate Technology PLC
Western Digital Corporation