Artificial-intelligence stocks mounted a comeback Monday as investors seem to be leaving some of their AI trade concerns behind after many names took a beating last week.
Memory storage company Sandisk rose 2.7% and chips and networking company Marvell advanced 3.3%.
Laser and optics hardware maker Lumentum gained 4.5% to $765.55, placing it near the top of the S&P 500. Barclays upgraded Lumentum to Overweight from Equal Weight and reiterated a price target of $1,000. That endorsement, coupled with a resurgence across AI hardware stocks on Monday, gave the optical networking supplier a lift.
Micron Technology advanced 1.9% as the stock looks set to break out of a three-day losing streak that has brought its value below $1 trillion. The debate is raging about how high memory-chip prices can go.
Chip makers Advanced Micro Devices and Intel were also rising as investors piled back into AI stocks. Nvidia rose slightly. Shares have steadied above $200 a share, but could do with Big Tech companies reaffirming commitments to spending big on its AI processors to spark a rally.
IREN and Hut 8 gained 19.6% and 10.4%, respectively. Both companies announced more customers were spending on their cloud-computing infrastructure.
Alibaba Group Holding added 4.7% after the Chinese online retailer previewed its new AI model, which it said was second only to Anthropic's Fable 5.
AMC Entertainment surged 26.8% after the movie-theater chain's second-quarter earnings and revenue topped analysts' expectations. AMC also said that 4.3 million moviegoers attended its cinemas in the U.S. to watch The Odyssey from Thursday through Sunday.
Domino's Pizza added 2.1% after the fast-food chain's second-quarter revenue beat Wall Street's target.
Sweetgreen fell 6.1%, resuming a four-day selloff last week as investors worried about their potential exposure to a cyclosporiasis outbreak -- even though there is no confirmed connection. The stock price had recovered some losses last Friday after the salad chain said it doesn't use iceberg lettuce and that none of its ingredients had been identified in the investigation. Chipotle Mexican Grill and Cava Group declined 3.8% and 7.8%, respectively.
Strategy advanced 3.1% after the largest corporate holder of Bitcoin reported it didn't make any new purchases of the cryptocurrency last week. Strategy now hasn't made any changes to its Bitcoin holdings since late June and early July, when it sold some of its holdings. Bitcoin prices over the past 24 hours rose 1% to $65,152.09, according to CoinDesk.
Write to George Glover at george.glover@dowjones.com and Kit Norton at kit.norton@barrons.com
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(END) Dow Jones Newswires
July 20, 2026 16:27 ET (20:27 GMT)
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