Marvell, Sandisk, SK Hynix lead semiconductor stock rally as S&P 500 trades at record highs

What happened: Semiconductor stocks rallied connected Tuesday, with the PHLX Semiconductor Index (SOXX) surging implicit 6%, helping nonstop the S&P 500 (^GSPC) to caller highs.

US-listed shares of representation and retention leaders Micron Technology (MU) and SK Hynix (SKHY) jumped 8% and 6%, respectively. Shares of Marvell Technology (MRVL) besides rallied 14%.

AI spot heavyweight Nvidia (NVDA) gained astir 2%, portion shares of AMD (AMD) jumped 7% up of the company's quarterly results. Chipmaker Intel (INTC) roseate 10%.

What's down the move: Marvell Technology launched the Flash Memory Summit 2026 successful California connected Tuesday, introducing caller AI-optimized representation and retention infrastructure products to conscionable increasing compute demands of agentic AI inference.

Investors besides awaited results from AMD, which reports aft the adjacent connected Tuesday. Market watchers were expecting explosive moves either to the upside oregon the downside.

"AMD — this is simply a institution that tends to beryllium truthful bully astatine guiding the Street," Cboe elder vice president JJ Kinahan told Yahoo Finance connected Monday.

"They person been wrong a penny for the past 12 net reports successful presumption of wherever they are going to be. However, connected much than fractional of them, they really sold disconnected afterward," helium noted.

What other you request to know: The semiconductor scale led marketplace gains connected Tuesday arsenic the S&P 500 and the Dow Jones Industrial Average (DJI) some headed toward grounds closes. The rally follows a volatile agelong for AI infrastructure stocks, driven by concerns astir overinvestment and intensifying contention from China.

Semiconductor stocks person been astatine the halfway of the AI commercialized this twelvemonth but tumbled from grounds highs into bear-market territory past month, dropping much than 20% from their highs arsenic investors turn progressively acrophobic astir hyperscalers' monolithic AI spending spree.

Worries astir China's advancement successful AI, driven by little costly models, person besides weighed connected the AI infrastructure trade.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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