Midday movers highlight pressure on chip stocks and gains in AI, energy names

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Midday movers: chips vs AI

Highlights

Braiin surges 62% intraday after launching Aria for the global real estate software market, forecast to reach $32 billion by 2033.
Memory and semiconductor stocks tumble as the Roundhill Memory ETF falls 9%, SK Hynix drops 8% in U.S. and over 15% in Seoul, and chip majors slide up to 6%.
Energy shares rally with oil up over 4% after President Donald Trump reinstates a blockade on Iranian ships in the Strait of Hormuz, boosting Valero, ConocoPhillips, APA, Exxon Mobil, and Chevron up 2–4%.

Sector moves and company catalysts

As reported by CNBC, Braiin surges 62% after launching Aria, an AI agent built for the real estate industry. Chief Executive Natraj Balasubramanian says in a statement that the product creates a scalable recurring software opportunity in a global real estate software market forecast to reach about $32 billion by 2033.

AppLovin falls 12%, making it the weakest S&P 500 stock at midday and putting the software company on track for its sixth daily decline in seven sessions. Biogen adds nearly 2% after Truist upgrades the biotechnology stock to buy from hold, citing potential upside tied to upcoming investigational drug trial data.

Nio gains 3% in U.S. trading after Goldman Sachs raises its rating to buy from neutral. The bank says the Chinese electric vehicle maker should deliver rapid volume growth, a premium margin profile and a strong turnaround in profit and free cash flow this year, while its new $7 price target implies 46% upside from Friday's close.

SpaceX drops nearly 4% and touches a fresh post-IPO low, moving closer to its $135 offering price. The decline comes even after the Federal Aviation Administration says it has closed an investigation, clearing the company to conduct a flight test as early as this week.

Market impact across chips, energy and consumer stocks

SK Hynix falls 8% in U.S. trading after its Nasdaq debut on Friday, when the shares jumped nearly 13%. In Seoul, the chipmaker's stock sinks more than 15%, marking the worst day in its history.

Memory and semiconductor stocks are broadly weaker as investors reassess the durability of the artificial intelligence trade. The Roundhill Memory ETF falls 9% as Sandisk drops 12%, while Western Digital and Micron Technology lose 6% and 4%, respectively; the iShares Semiconductor ETF declines 4%, with Intel down more than 5% and Advanced Micro Devices off 3%.

Energy shares move higher as oil prices climb more than 4% after President Donald Trump reinstates a blockade on Iranian ships in the Strait of Hormuz. Valero Energy rises 4%, ConocoPhillips gains nearly 3%, APA advances 2.5%, and Exxon Mobil and Chevron are up 3% and 2%, respectively.

MGM Resorts International rises more than 1% after The Wall Street Journal reports the company is in private talks with Barry Diller. The report says Diller's People made an offer in early June to buy the company, and MGM has not publicly responded.

Shopify and Deckers Outdoor Group also trade higher after Jefferies upgrades both stocks to buy. Jefferies says Shopify benefits from strong fundamentals and a long-term tailwind from agentic commerce, while Deckers has upside potential from product innovation at Hoka; both stocks gain 2%.

In our earlier analysis of Nio’s stock performance, we noted that shares were showing intraday resilience even as June new energy vehicle sales fell 9% and exports were minimal, pointing to near-term demand softness. We also highlighted a mixed technical setup—short-term support versus lingering long-term pressure—with overbought signals raising the risk of volatility unless the price breaks decisively above key resistance levels.

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