Technology stocks led gains in the U.S. market, while SanDisk Corp. experienced a significant decline following a short seller attack. Overnight, positive catalysts drove a collective rise among major technology companies. The three major U.S. stock indices closed higher after opening slightly up. At the close, the S&P 500 index was up 0.77%, the Nasdaq Composite rose 1.04%, and the Dow Jones Industrial Average increased by 0.76%. Market attention was divided between President Trump's scheduled State of the Union address, particularly regarding his comments on Middle East geopolitics and tariffs, and the upcoming earnings report from Nvidia, due after the market closes on Wednesday. The technology theme dominated market gains. The "Magnificent Seven" tech stocks generally advanced, with Tesla and Apple rising over 2%, and Amazon and Microsoft gaining more than 1%. Positive news acted as a catalyst for Advanced Micro Devices, which saw a substantial intraday jump, contributing to a strong performance by the semiconductor sector. A recent forecast reported by Reuters indicated that four tech giants—Microsoft, Google, Amazon, and Meta—plan to collectively invest over $650 billion in AI by 2026. These funds are earmarked for new data centers and related equipment, including AI chips, networking cables, and backup generators. In corporate news, Meta entered into a significant agreement with Advanced Micro Devices involving both chips and an equity option. Meta plans to deploy up to 6 gigawatts of AMD's computing power chips, representing a multi-year order valued at approximately $60 billion. Subject to meeting certain milestones, Meta also secured the right to purchase up to 160 million shares of AMD stock at $0.01 per share, equivalent to a 10% stake in the company. Shares of Advanced Micro Devices finished the session up 8.77%. According to Apple insider Mark Gurman, Apple's first touchscreen MacBook Pro models are expected to debut this autumn. The new models will feature a system interface optimized for touch and a Dynamic Island similar to the iPhone. SanDisk Corp. faced negative pressure. Short-selling firm Citron Research announced it had established a short position in the storage market leader. Consequently, SanDisk's stock price plummeted during the session before recovering somewhat; it ultimately closed down 4.2%. Citron's rationale, as covered by media reports, is that the market is mispricing strongly cyclical NAND storage companies as if they were core AI assets with long-term competitive advantages. The firm argues that NAND remains a commodity industry highly dependent on supply, historically prone to cyclical peaks during high-margin periods. Furthermore, Citron suggested that any current supply tightness could quickly dissipate if industry leader Samsung were to restore its capacity and yields and ramp up production for the high-end SSD market. PayPal saw a late-session surge. Market rumors suggested that payment processor Stripe is considering acquiring all or part of PayPal's assets. Shares of PayPal rallied into the close, finishing up 6.74%.