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semiconductor / news / / Devdiscourse

U.S. stocks were set to recover modestly on Tuesday following a significant decline on Monday.

Advanced Micro Devices secured a $60 billion AI chip supply deal with Meta Platforms.

KEY POINTS
U.S. stocks were set to recover modestly on Tuesday following a significant decline on Monday. The market was previously rattled by President Donald Trump's tariff policy changes and concerns about artificial intelligence-driven disruptions. Advanced Micro Devices spearheaded the recovery, with shares soaring nearly 10% in premarket trading after announcing a deal to supply AI chips worth up to $60 billion to Meta Platforms over five years. Home Depot followed closely, climbing 2.5% after surpassing fourth-quarter projections and maintaining its annual forecasts. The market's anxiety extends beyond just AI, encompassing geopolitical and macroeconomic issues alongside tariff worries, according to Peter Cardillo, chief market economist at Spartan Capital Securities. Financials and software stocks plummeted over 1% on Monday, influenced by Trump's tariff announcements and negative AI market impact reports. (With inputs from agencies.)
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