Nasdaq rises as investors return to chip stocks before Meta earnings

The Nasdaq's gain on Monday followed a selloff last week that was driven by doubts about whether the AI boom can last. That pullback had consequences beyond the index itself: several tech IPOs were delayed this year, with Anthropic's possibly the exception. Investors are now turning their attention to Meta's Wednesday earnings report, a key test of whether the massive investments the company has made in AI are translating into results. Meanwhile, the CEO of Southeast Asia's largest bank told Semafor that the market's "jittery nerves" are actually a healthy sign, because investors can see weakness coming and are becoming more discerning. "The market's speaking and it's not a bad thing," the CEO said.