Shares of several chipmakers and data-storage companies rose in the morning session, recovering from sharp declines in the previous session. The upward movement followed easing selling pressure, lower U.S. Treasury yields, retreating oil prices, and positive momentum from Asian markets.

The technology sector rebound was supported by overnight gains in overseas semiconductor peers, including Taiwan Semiconductor Manufacturing and SK Hynix. Investors are currently awaiting Nvidia's quarterly earnings for evidence regarding global demand for artificial intelligence infrastructure, alongside upcoming key inflation data.

Stock performance

The following companies saw increases in their share prices:

• AMD: up 4.8%
• Marvell Technology: up 5.9%
• Semtech: up 4.5%
• Allegro MicroSystems: up 2.9%
• MACOM: up 3.1%

Other companies included in the sector rebound were Micron Technology, SanDisk, and Western Digital.

Marvell Technology details

Marvell Technology shares have risen 171% since the beginning of the year. At $242.08 per share, the stock is trading 23.5% below its 52-week high of $316.43 reached in June 2026.

Six days ago, the stock gained 8.2% following a commercial agreement with Alphabet. Under the terms, Google parent Alphabet received a warrant to buy up to 58.97 million shares at an exercise price of $206.58. The agreement states that the vast majority of the stake vests only if Google drives significant business to Marvell, with remaining shares vesting in $500 million increments tied to eligible custom-products revenue, including network controllers for Google's TPU roadmap and AI inference accelerators.