Some chip stocks jumped in morning trading. Wolfspeed rose 9%; United Microelectronics rose 7%; Broadcom rose 5%; TSMC, Navitas Semiconductor, Marvell Technology, and Super Micro Computer rose 4%; Nvidia rose 3%; ON Semiconductor rose 2%; STMicroelectronics rose 1%.

The U.S. has cleared around 10 Chinese firms to buy Nvidia's second-most powerful AI chip, the H200, but no deliveries have been made so far, leaving the deal in limbo as CEO Jensen Huang seeks a breakthrough in China this week, Reuters reported.

Chipmaker Wolfspeed shares soared after thematic research firm Citrini recommended the stock, highlighting it as “a crouching tiger getting ready to reveal a dragon that deserves to not just be priced based on what their fab’s replacement value theoretically is, but reflect the fact that it’s not going to be replaced."

Goldman Sachs analyst James Schneider raised the firm’s price target on Marvell to $125 from $100 and keeps a Neutral rating on the shares. Investors are likely to focus on upside in Marvell’s datacenter business driven by rising hyperscaler capex, strength in optical networking, and a potential new Google ASIC partnership, with expectations elevated ahead of results and room for higher 2026-2027 revenue growth guidance, the analyst says in a research note.