The US stock market chip storage index closed up more than 3.5%, with constituent stock Sandisk surging 9% to a record high, while the AI software pioneer index fell about 5.1%.

SanDisk, a constituent stock, closed up 9.05% at $851.57, hitting another record closing high; Western Digital fell 0.27%, Seagate Technology rose 0.90%, Rambus rose 4.09%, Lam Research rose 4.98%, Applied Materials rose 3.13%, Micron Technology rose 3.63%, and Teradyne rose 1.65%. The AI Software Pioneer Index fell 5.08%, with all constituent stocks plunging across the board: Snowflake fell 11.83%, Palantir fell 7.30%, Oracle fell 4.04%, Salesforce fell 3.13%, Kioxia fell 2.93%, C3.ai fell 2.28%, Synopsys fell 1.28%, and Microsoft fell 0.34%. The North America Technology Software Stock Index ETF dropped 3.90% to $76.64. The Information Technology Index rose 0.62%, showing an overall W-shaped trend; the Artificial Intelligence (AI) Winner Index rose 1.75%.