Marvell Technology Group LtdLaunched new AI-optimized memory and storage products at Flash Memory Summit 2026, driving a 14% rally.
Semiconductor stocks rallied on Tuesday, with the PHLX Semiconductor Index surging over 6% and helping send the S&P 500 to new highs. US-listed shares of memory and storage leaders Micron Technology and SK Hynix jumped 8% and 6% respectively, while Marvell Technology rallied 14% after launching new AI-optimized memory and storage products at the Flash Memory Summit 2026. AI chip heavyweight Nvidia gained nearly 2%, AMD jumped 7% ahead of its quarterly results, and Intel rose 10%. The rally follows a volatile stretch for AI infrastructure stocks, which tumbled into bear-market territory last month amid concerns about overinvestment and intensifying competition from China.
Marvell Technology Group LtdLaunched new AI-optimized memory and storage products at Flash Memory Summit 2026, driving a 14% rally.
Advanced Micro Devices Inc
Broadcom Inc
NVIDIA Corporation
SK Hynix IncUS-listed shares rose 6% amid semiconductor rally, reflecting strong AI memory demand.
Micron Technology IncMemory and storage leader jumped 8% as part of semiconductor rally, benefiting from AI demand.
Intel Corporation