Credo Technology (CRDO) and Broadcom (AVGO) both jumped by noon trading on Monday as a wide range of semiconductor and artificial intelligence-related stocks made gains.
Credo had surged 10%, while Broadcom had climbed 9%.
Western Digital (WDC) made the biggest move among memory makers as it had increased by 9%. Micron Technology (MU) and Seagate Technology were both up 7%.
Intel (INTC) had edged up 4%, AMD had increased by nearly 5%, and Nvidia (NVDA) was up 2%. Marvell Technology (MRVL) had posted a 5% gain.
AI infrastructure names like Astera Labs (ALAB), Celestica (CLS) and Coherent (COHR) were making substantial gains as well, as they were up 3%, 12% and 10%, respectively.
The Philadelphia Semiconductor Index (SOX) had increased 4%, highlighting the positive movements across the sector.
Server solutions companies were showing green by early afternoon trading. Dell Technologies (DELL) was up 4%, while Hewlett Packard Enterprise (HPE) and Supermicro (SMCI) had both increased 3%.
Cloud service providers were also trending higher. Google (GOOG)(GOOGL), Amazon (AMZN), Oracle (ORCL), Microsoft (MSFT), CoreWeave (CRWV) and Nebius (NBIS) were up 5%, 1.8%, 0.4%, 0.6%, 2% and 8%, respectively.
U.S. markets will be closed on November 27, Thursday, for the Thanksgiving holiday. They will close early on Friday at 1 p.m. ET.