Shares of Nvidia ( NVDA ) surged Monday afternoon as semiconductor and artificial intelligence stocks attempted to rebound from a tariff-fueled selloff.

Nvidia’s stock price was up nearly 4% in recent trading, leading gains on the Dow Jones Industrial Average . Broadcom ( AVGO ), Micron Technology ( MU ), Lam Research ( LRCX ), Applied Materials ( AMAT ), and other semiconductor stocks also rose, boosting the PHLX Semiconductor Index ( SOX ) up about 3%.

"We are not sure where Nvidia (or anything else) will bottom in the near term," Bernstein analyst Stacy Rasgon wrote in a note to clients Monday. "But we do believe the AI narrative is still real. And once things do settle down (hopefully soon!) the stock at these levels is probably worth a look."

Shares of server maker and Nvidia partner Super Micro Computer ( SMCI ) were up over 10%, leading gains on the S&P 500. Nvidia partner Rigetti Computing ( RGTI ) saw its shares jump over 11% after it was chosen along with IonQ ( IONQ ) and quantum computing companies to participate in a Department of Defense program. Other AI investor favorites, including Palantir ( PLTR ), were higher as well.

The major indexes whipsawed between gains and losses in a volatile session following unconfirmed reports—which the White House denied—that the Trump administration could delay its tariffs. (Read Investopedia's live coverage of today's market action here .)

President Trump took to his Truth Social platform Monday to post that if China doesn’t withdraw its own tariffs on U.S. goods by tomorrow, the U.S. could further raise tariffs against the country.

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