Chip stocks rebounded in morning trading. ON Semiconductor rose 8%; STMicroelectronics rose 6%; Marvell Technology rose 5%; Direxion Daily Semiconductors Bull 3x Shares and Micron rose 3%; Nvidia, Qualcomm, and Arm rose 2%.
Nvidia CEO Jensen Huang joined US President Donald Trump during his visit to Beijing, igniting hopes in China that the trip could yield results in the tech giant's long-stalled effort to sell its powerful H200 AI chips to local customers.
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