AI-linked chip stocks bounced back Tuesday, a day after a selloff tied to concerns that major AI model developers would take a more disciplined approach to development and spending. Qualcomm, AMD, Marvell and Arm led the recovery among Nasdaq-listed chipmakers, while Intel slipped.
Chip stocks clawed back ground on Tuesday, a day after a selloff driven by worries that major AI model developers would take a more disciplined approach to development and spending.
Qualcomm rose 4.25%, leading the rebound among Nasdaq-listed chipmakers. Advanced Micro Devices gained 2.19%, while Marvell Technology added 1.32% after a bruising chip selloff a day earlier. Arm Holdings climbed 1.18%.
Nvidia and Micron Technology saw more modest gains, up 0.57% and 0.39% respectively.
Intel bucked the trend, slipping 0.05%.
Source: MarketWatch (snippet-based)
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