Who is driving this round of trading amid the violent rebound in chip stocks?



On June 8, U.S. technology stocks saw a textbook-style, strong rebound. The Philadelphia Semiconductor Index surged 5.61%. All 30 constituent stocks rose, including Intel up more than 11%, Micron Technology up nearly 10%, Marvell Technology up more than 9%, Applied Materials up more than 8%, ASML up more than 6%, and AMD up more than 5%. Just one trading day earlier, the Philadelphia Semiconductor Index had crashed by more than 10%. Such a drastic turnaround from a plunge to a surge is not a coincidence.

This rebound has three core drivers.

First, major orders from Google and Intel. According to The Information, citing insiders, Google has placed an order with Intel, planning to produce more than 3 million of Google’s self-developed TPU chips in 2028. This is the largest customer order publicly disclosed so far for Intel’s foundry business, indicating that Intel has officially returned to the high-end AI chip supply chain. Intel’s stock closed at $110.27 that day, up about 11.2%, and has already tripled year to date.

Second, AI storage demand continues to surge. Micron Technology jumped nearly 10%. Earlier, NVIDIA CEO Jensen Huang announced that it had reached a multi-year technology partnership with SK Hynix, and that they would jointly advance storage technology for AI factories. Micron previously said that the supply tightness of HBM, DRAM, and NAND storage chips is expected to far exceed 2026, and that HBM production capacity for 2026 has already been fully locked in by customer orders.

Third, a recovery in macro panic sentiment. Concerns about rate hikes triggered by better-than-expected non-farm payroll data were gradually absorbed by the market. Jensen Huang also publicly stated that this is a good time for tech stocks to enter, effectively boosting market confidence.

The AI main theme has not broken—only the volatility has increased. Funds have always been circling around the AI hardware industry chain and have never truly exited.

#美股AI概念股普涨
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