The S&P 500 rose on Monday, led by tech, as a new month of trading began.
The benchmark gained 0.5%, while the Nasdaq Composite advanced 1%. The Dow Jones Industrial Average climbed 18 points.
Micron Technology gained 5% to lead chipmaker stocks higher. Nvidia and AMD were up 3% and around 1%, respectively. The VanEck Semiconductor ETF (SMH) climbed 1.6%. Other tech names such as Meta Platforms and Palantir gained 1.2% and 2%, respectively.
The moves came after data center company Iren reached a multiyear $9.7 billion deal with Microsoft to provide the megacap technology company access to Nvidia GB300 graphics processing units. Shares of Iren were last up 17%.
Nvidia shares continued to see gains Monday following Microsoft's announcement that it has secured export licenses from the Trump administration to ship Nvidia chips to the United Arab Emirates. The company added that its total UAE investment will amount to $15.2 billion by the end of 2029.
Source : CNBC.com
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