US chip stocks extended their rally on Monday, helping keep the tech-heavy Nasdaq in positive territory as fresh optimism around the artificial intelligence boom renewed investor appetite for semiconductor shares.
SanDisk Corp shares rose 6% to $1,745.66, while Micron Technology gained 3.99% to $1,010.48. SK Hynix shares climbed 3.76% to $172.59. Nvidia also traded higher, rising 0.32% to $225.88.
The gains in semiconductor stocks helped prop up the Nasdaq as investors continued to focus on the strength of AI-related demand and the rapid growth of companies developing and deploying AI technologies. The latest leg of the chip rally came after Bloomberg News reported that Anthropic's second-quarter revenue had crossed $11.5 billion, marking a massive jump from a year earlier.
The strong revenue performance added to optimism that spending on AI infrastructure remains robust, benefiting companies across the semiconductor supply chain.
Micron was among the major beneficiaries, with its shares rising more than 3%. Broadcom and Nvidia also moved higher as investors continued to favour companies positioned to benefit from sustained AI investment. The latest moves extend a broader rebound in technology stocks, with chipmakers emerging as key beneficiaries of renewed confidence in the AI trade.
Memory-chip companies such as SanDisk, Micron and SK Hynix have attracted particular attention as demand for high-performance memory continues to rise alongside AI computing requirements.
For investors, the latest rally reflects expectations that the AI investment cycle can continue to support semiconductor demand, even after concerns earlier this year that valuations and positioning in technology stocks had run too far.
With AI companies reporting rapid revenue growth and hyperscalers continuing to invest heavily in computing infrastructure, semiconductor stocks remain closely tied to the outlook for the broader AI ecosystem.
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