Semiconductor shares pushed higher once again in Friday premarket trading on July 31, 2026, building on a dramatic turnaround that began the previous day. Advanced Micro Devices (AMD), Nvidia (NVDA), Intel (INTC), Micron Technology (MU) and SK Hynix (SKHY) all advanced, signaling renewed investor appetite for the very stocks that had been punished throughout most of July.

AMD rose approximately 3 percent in early dealing, with some quotes placing the gain closer to the 3–4.6 percent range shared by Intel. Micron climbed 3.5 percent, SK Hynix’s U.S.-listed shares jumped nearly 6 percent, and Nvidia added 1 percent. Memory-related names SanDisk and Western Digital each gained more than 5 percent. The iShares Semiconductor ETF (SOXX) advanced 3 percent while the Roundhill Memory ETF (DRAM) rose 2.4 percent, underscoring broad participation across both logic and memory segments.

The move follows Thursday’s powerful surge, when AMD closed 13 percent higher at $485.39. That session marked one of the strongest single-day performances for the group in recent months and reversed a multi-week stretch of selling pressure. Market participants attributed the rebound to fresh commentary from Amazon and Microsoft, both of which indicated they would increase capital expenditures to secure higher volumes of memory chips. The comments highlighted an ongoing imbalance in which artificial-intelligence demand continues to outstrip global supply of critical components.

Additional support came from overseas. South Korea’s KOSPI index recorded an extraordinary 18 percent advance, driven by heavyweight technology names Samsung Electronics and SK Hynix. The strength in Asia spilled into U.S. premarket trading and reinforced the narrative that the AI infrastructure build-out remains intact despite recent rotation out of high-valuation technology stocks.

Yet the broader monthly picture remains challenging. As of Thursday’s close, the SOXX ETF had declined 21.3 percent in July. If that level holds through the end of the month, it would represent the fund’s worst performance since December 2002. The selloff had been fueled by concerns that valuations had become stretched and that hyperscalers might temper spending after an extended period of aggressive investment. Friday’s action suggests those fears are being reassessed, at least in the near term.Retail investors on Stocktwits reflected the shift in mood, registering bullish sentiment for Micron, SK Hynix, Intel and Nvidia, and extremely bullish readings for SanDisk. The change in tone illustrates how quickly positioning can pivot when large-cloud providers reaffirm their commitment to AI capacity.

For AMD specifically, the continued strength keeps attention on the company’s data-center trajectory. The firm has secured sizable capacity agreements and is preparing for further AI accelerator deployments later in 2026. Investors will next focus on second-quarter results, scheduled for release after the market close on August 4, for evidence that server-CPU share gains and GPU ramp schedules remain on track.


While one strong premarket session does not erase a month of losses, the combination of corporate spending signals, Asian market strength and improving retail sentiment has given semiconductor stocks a second consecutive day of meaningful gains. Whether the rebound can extend into the regular session and beyond will depend on broader market conditions and the forthcoming round of technology earnings. For now, the AI narrative has reasserted itself, offering a reminder that demand for advanced chips remains a dominant force in equity markets even after periods of intense profit-taking