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Shares of Nvidia NVDA surged on Monday afternoon, as semiconductor and artificial-intelligence stocks tried to recover from a selloff fueled by tariffs.
Nvidia stock was up almost 4% during recent trading. This led to gains in the Dow Jones Industrial Average. Broadcom (AVGO), Micron Technology, Lam Research, Applied Materials and other semiconductors stocks rose as well. The PHLX Semiconductor Index grew by about 3%.
"We are not sure where Nvidia (or anything else) will bottom in the near term," Bernstein analyst Stacy Rasgon wrote in a note to clients Monday. "But we do believe the AI narrative is still real. Once things settle down (hopefully very soon! ), then you can start looking at the stock. the stock at these levels is probably worth a look."
Shares of server maker and Nvidia partner Super Micro Computer (SMCI) were up over 10%, leading gains on the S&P 500. Nvidia partner Rigetti Computing’s (RGTI) shares jumped over 11%, after it was selected along with IonQ(IONQ) and Quantum Computing companies to participate in a Department of Defense project. Other AI investors favorites, such as Palantir (PLTR), also ranked higher.
The major indexes whipsawed between gains and losses in a volatile session following unconfirmed reports—which the White House denied—that the Trump administration could delay its tariffs. (Read Investopedia’s coverage of today’s markets here.
President Trump posted on his Truth Social platform that the U.S. may increase tariffs against China if China does not remove its own tariffs by tomorrow.
