US chip stocks rip higher, with Lam Research up 18% and Sandisk 26%

Semiconductor stocks jumped on Wall Street on Thursday, 30 July 2026. According to CNBC, Lam Research shares rose 18 percent for their best day since 1999, while Applied Materials gained 15 percent, AMD 13 percent, Marvell Technology 13 percent, Intel 11 percent, Arm Holdings 7 percent and Nvidia nearly 3 percent. The iShares Semiconductor ETF rose 8 percent.

Memory stocks gained the most: Micron rose 18 percent and Sandisk 26 percent. The trigger was a warning from Samsung that the memory crunch could last into 2028. That is the same factor Amazon cited on Thursday when it raised its capital spending plan for the year to $220 billion.

The rally followed a heavy sell-off in recent sessions, driven by concerns that the artificial intelligence spending frenzy is nearing its peak, which wiped more than $1 trillion off the sector's market value earlier this week.