Marvell, Sandisk, SK Hynix lead semiconductor stock rally as S&P 500 hits record highs

Semiconductor stocks rallied Tuesday, helping push the S&P 500 and Dow Jones Industrial Average toward record closes. The iShares Semiconductor ETF, which trades under the ticker SOXX, rose nearly 7% in early afternoon trading. The fund had fallen more than 20% from its June high during the previous month as investors reduced exposure to AI and semiconductor stocks. Marvell Technology led the rally with a gain of more than 14%. Micron Technology rose over 8%, while the US listed shares of SK Hynix also gained approximately 8%. Intel climbed nearly 11%, Advanced Micro Devices rose more than 8%, and Nvidia gained about 2.5%. Marvell announced several new memory and storage products Tuesday at the Flash Memory Summit 2026 in Santa Clara, California. The company said the products are designed to address memory capacity, bandwidth, and data movement requirements created by agentic AI inference. The announcements included Marvell’s Bravera SC6 PCIe 6.0 SSD controller, Structera X memory expansion products, and Photonic Fabric technology for sharing memory across multiple AI racks. Marvell said its optical memory system could support up to 32 terabytes of shared memory and deliver up ...