Chip stocks rose more than 5% on Monday following last week's selloff that erased more than $1 trillion in market value

Chip stocks rebounded sharply on Monday after a steep decline the previous week. Nvidia's CEO characterized the selloff as a buying opportunity, stating the market is only "at the beginning" of the AI moment.

A Morgan Stanley executive described the correction as "inevitable and ultimately healthy," suggesting the rebound signals the AI-driven bull run is continuing.

The timing coincides with major moves in the US tech sector: SpaceX is expected to begin trading on the Nasdaq Friday in what could be the world's largest IPO, and OpenAI on Monday confidentially filed to go public, following rival Anthropic.