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Markets rally as tech stocks rebound amid Nvidia scandal
After a week of AI stock setbacks, the Nasdaq-100 jumped 3.4% and the Philadelphia Semiconductor Index rose 7% on Monday, despite Nvidia falling 4.3%. Analysts note the market shows signs of capitulation with high volatility and record options activity, but caution that the rally may be a short‑term bounce. Recent events include Anthropic lowering its IPO target and a scandal involving Nvidia CEO Jensen Huang, while AI‑chip maker Cerebras fell from a $386 peak to $97. The commentary highlights the need for sustained gains above key moving averages to confirm a genuine recovery.