(SeaPRwire) – By: Oliver Hawthorne
The AI chip rally hit a wall last week. Broadcom’s mediocre guidance made investors jittery. But Tuesday morning brought a rebound. Marvell, Micron, Qualcomm—all AI-linked chip stocks climbed. Is this confidence here to stay, or just a quick fix for last week’s anxiety?
Marvell rose 4.2% in premarket trading. It added to Monday’s 9.6% gain. The reason? It’s joining the S&P500 later this month. Micron gained 4%, Qualcomm 3%. J.P. Morgan put Qualcomm on positive catalyst watch ahead of its June 24 investor day. They raised the price target to $265 from $160. Applied Digital jumped 10% with a 15-year, $5.2B lease deal for Delta Forge2 data center. The center starts operations in Q1 2028. GSK bought Nuvalent for $10.6B. Vail Resorts fell 5% due to poor ski pass sales and bad weather. Perrigo dropped 3.8% after CEO Patrick Lockwood-Taylor resigned over policy violations.
The commercial loop ties AI chips to data centers. Hyperscalers are locking in long-term data center capacity. Applied Digital’s deal shows this. Qualcomm’s upcoming data center strategy will be key. Those without solid long-term contracts or clear strategies will struggle when the next market dip hits.
Author bio: Oliver Hawthorne, Principal Correspondent at an international tech review, covers semiconductor trends and data center infrastructure.