The Dow rose 0.49%, the S&P 500 rose 0.64%, and the Nasdaq rose 1.03%.

Intel rose more than 3%, Micron rose more than 2%, NVIDIA and Qualcomm rose more than 1%. It is reported that the Trump administration plans to lift the AI chip restrictions imposed during the Biden era. ARM fell more than 5% as the company's performance guidance was below expectations. AppLovin surged more than 16% as the company's first quarter performance exceeded expectations and they agreed to sell their gaming division. Xpeng Motors rose more than 2% on news that they are considering listing Xpeng Huitian on the Hong Kong or US stock market.