US Opening Bell | Nasdaq jumps 1.7%; Micron Technology, Intel surge; Chip stocks rally

Market

May 9, U.S. stocks opened higher, with the Dow Jones up 0.02%, the S&P 500 gaining 0.84%, and the Nasdaq Composite jumping 1.71% as a fresh wave of AI-hardware optimism outweighed mixed macro data.

Rocket Lab USA, Inc. surges 34.2% after landing a multi-launch NASA contract; SanDisk Corp. climbs 16.6% on upbeat NAND pricing commentary; Micron Technology rallies 15.5% as it raised revenue guidance; Intel advances 14.0% after a blowout data-center quarter; Advanced Micro Devices adds 11.4% following the debut of its Instinct MI400 accelerators; Qualcomm rises 8.2% on a new 5G modem pact with Samsung; Tesla Motors gains 4.0% as Full Self-Driving approvals expand.

Direxion Daily Semiconductors Bull 3x Shares leaps 16.3%, Roundhill Memory ETF jumps 13.4%, ProShares UltraPro QQQ adds 6.9%, while Direxion Daily TSLA Bull 2X Shares tacks on 8.0%. On the flip side, Direxion Daily Semiconductors Bear 3x Shares falls 16.5%, CoreWeave, Inc. sinks 11.4%, and Applied Optoelectronics drops 5.5% as chip bears retreat.

News

Micron Technology lifts revenue guidance, shares jump. Management cited stronger AI server demand and firmer DRAM pricing. The outlook upgrade reinforced optimism across the memory complex.

Intel beats expectations on data-center rebound. The company delivered better-than-forecast margins and guided for sequential growth, sparking a 14% opening pop.

Advanced Micro Devices unveils Instinct MI400 accelerator family. The next-gen GPUs aim to challenge NVIDIA in AI training, boosting investor confidence in AMD’s long-term roadmap.

Qualcomm seals multi-year 5G modem deal with Samsung. The agreement secures a key revenue stream and positions Qualcomm to capture premium handset share.

Rocket Lab USA, Inc. wins $250 million NASA launch contract. The award extends the company’s government backlog and validates its small-lift launch strategy.

SanDisk Corp. boosts NAND output forecast for H2. Rising solid-state demand from hyperscale customers is expected to lift margins and cash flow in coming quarters.

Tesla Motors secures EU approval to expand Full Self-Driving beta. The regulatory green light paves the way for broader autonomous features and potential subscription gains.

NVIDIA gains U.S. clearance for $5 billion AI chip order to China. The limited export license eases supply concerns and supports the company’s near-term sales targets.

U.S. weekly jobless claims unexpectedly decline. The drop suggests labor demand remains resilient, tempering recession worries and supporting risk appetite.

Fed Governor Jefferson signals no immediate need for further rate hikes. His comments pushed Treasury yields lower and bolstered growth-stock sentiment at the open.