Weekly Recap: SK Hynix Just Hit Wall Street, AI Stocks Are Back, and SpaceX Joins the Nasdaq-100

TLDR

• AI chip stocks including Nvidia, Broadcom, AMD, and Micron bounced back after a sharp early-week selloff
• Broadcom extended its custom chip deal with Apple through 2031
• SpaceX joined the Nasdaq-100 Index following its public market debut
• SK Hynix made a successful U.S. market debut, driven by strong AI memory demand
• Oil prices fell as geopolitical concerns eased and supply expectations improved

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Wall Street had a busy week. AI stocks recovered from a rough start, SpaceX hit a new milestone, and a major memory chip maker made its U.S. debut. Here is a breakdown of the biggest stories from the week.

AI Chip Stocks Stage a Recovery

Semiconductor stocks fell sharply at the start of the week before bouncing back. Nvidia, Broadcom, AMD, and Micron all recovered as investors saw the dip as a buying opportunity.

Demand for AI hardware remains strong. Cloud providers are still spending billions on data centre expansion, and appetite for AI accelerators, networking gear, and high-bandwidth memory is not slowing down.

The quick recovery showed how fast sentiment can turn in this sector. Many investors still believe the AI spending cycle is far from over.

Broadcom Extends Its Apple Partnership to 2031

Broadcom stood out this week after announcing it had extended its custom chip deal with Apple through 2031. The agreement gives investors more confidence in Broadcom’s long-term revenue picture.

Broadcom supplies Apple with custom silicon and networking products. As Apple builds more artificial intelligence features into its devices, that relationship becomes more valuable.

The deal also signals that big tech companies are still making long-term bets on AI hardware, even with markets moving up and down week to week.

SpaceX Joins the Nasdaq-100

SpaceX officially joined the Nasdaq-100 Index this week. The inclusion followed the company’s public market debut and is expected to bring in more ownership from index funds and institutional investors.

The stock saw some profit-taking after the news, which is common after major index additions.

SpaceX continues to lead commercial rocket launches. It is also growing Starlink, its satellite internet service, and developing the next-generation Starship rocket.

SK Hynix Makes Its U.S. Market Debut

South Korean memory chipmaker SK Hynix attracted strong investor interest in its U.S. market debut. The company makes high-bandwidth memory, which is a key component inside AI servers.

The successful listing showed that investors remain willing to back companies deep in the AI supply chain. Even after a volatile stretch for chip stocks, demand for AI memory was enough to drive strong interest.

As AI workloads grow more complex, the need for advanced memory chips is expected to stay high.

Oil Prices Drop as Tensions Ease

Crude oil prices fell during the week as geopolitical concerns eased and supply expectations improved. Lower oil prices tend to reduce costs for airlines, retailers, manufacturers, and other businesses.

With inflation still a concern for Wall Street, calmer energy markets are a welcome development for investors and policymakers alike.