Marvell, SK Hynix, and Micron lead gains amid AI-driven demand and earnings anticipation, lifting broader indices.
Semiconductor stocks jumped over 6% on Tuesday, propelling the S&P 500 to a record high. Marvell Technology rose 14%, while SK Hynix and Micron climbed 6% and 8%, respectively. Nvidia and AMD also gained ahead of AMD’s quarterly results.
The rally followed Marvell’s launch of AI-optimized memory products at the Flash Memory Summit 2026. Investors awaited AMD’s earnings, with expectations for significant post-report volatility. The sector’s rebound follows recent concerns over AI infrastructure valuations.
The S&P 500 and Dow Jones Industrial Average both neared record closes, driven by the semiconductor sector’s strength.