AI, chip stocks jump as US-Iran ceasefire holds

Chip and AI-related stocks rallied after U.S. Defense Secretary comments that a U.S.-Iran ceasefire “is not over,” easing geopolitical risk and lifting risk assets. Major chip names led gains—Intel and Micron jumped double digits—while broader U.S. benchmarks also rose (Nasdaq outperformed, S&P 500 and Dow higher). The move reflected a rotation into semiconductor and AI plays despite mixed oil futures, with Nvidia slightly weaker even as many peers surged. Overall market impact was a positive risk-on move concentrated in semiconductor and AI sectors, helping lift equity indices intraday.