AI Chip stocks are continuing their gains from yesterday, with the semiconductor up a second day in a row after Friday’s selloff. Micron (MU) stock jumped 4% on Tuesday, extending a rebound from the prior session. Memory and storage maker Sandisk (SNDK) also popped, along with custom chipmaker Marvell Technology (MRVL).

Ahead of Wednesday’s CPI report, investors are hopeful that chip stocks will stand to be positively affected by a good inflation report. The Consumer Price Index (CPI) for April rose at its fastest annual pace in nearly two years. The ongoing US-Iran war has been one of the hardest catalysts for the inflation hike in 2026. Up until April, stocks wavered dramatically, but have been on a modest rebound since May.

Memory chip manufacturer Micron has been a leader within the chip stock rally. Just last month, the chipmaker topped a $1 trillion market cap. Other chip companies, like Samsung Electronics and SK Hynix, also rallied on Tuesday and crossed the $1 trillion threshold last month. Additionally, SanDisk (SNDK) has rallied, with analysts raising their price targets on the back of this week’s chip-stock rally.

Further, Marvell Technology (MRVL) is set to join the S&P 500 (^GSPC) index as of June 22. News of its inclusion sent shares soaring on Monday, with gains extending into Tuesday’s session. The news of another leading chipmaker joining the index was a catalyst to keep the momentum behind chip stocks going. However, MRVL did suffer a sharp correction on Tuesday, hinting that there is still resistance that likely comes from the impending CPI report.