Chip stocks bounce on Broadcom, OpenAI deal and easing China tensions
1. OpenAI announced a deal with Broadcom for AI chip development. 2. Broadcom shares rose 9% after the announcement. 3. U.S.-China tensions eased, boosting chip stocks overall. 4. VanEck Semiconductor ETF jumped 4%, indicating sector recovery. 5. Market fears were calmed by Trump’s remarks about China.