The resurgence in chip valuations persisted even as Alibaba introduced a new artificial-intelligence model, marking China’s second major demonstration of its AI capabilities within a week. While the tech sector found its footing, energy markets remained volatile. Brent crude futures initially climbed above $90 a barrel following heightened tensions between Washington and Tehran, though prices softened after Iran indicated it was reviewing mediation proposals intended to de-escalate the conflict.
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Chip Stocks Rally as AI Anxiety Recedes
Investors brushed off lingering concerns over an artificial-intelligence bubble on Monday, driving a sharp recovery in semiconductor stocks. The rebound saw companies that suffered double-digit losses last week, including Micron Technology, Sandisk, and Seagate Technology, lead the charge as market sentiment shifted back toward tech growth.
Attention now shifts to the second-quarter earnings calendar. Market participants are bracing for upcoming reports from Alphabet, Tesla, IBM, and Intel, which will provide a clearer picture of corporate health. With the Federal Reserve entering a quiet period ahead of next Wednesday’s interest-rate decision, traders have few economic data points or central bank comments to navigate, leaving stock performance largely dependent on individual company results.
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