Semiconductors recover a quarter of Thursday's drop, and AMD rises 11%

The iShares Semiconductor ETF SOXX rose 3.5% on Friday after falling 12.1% on Thursday. Friday's rise recovered about a quarter of Thursday's price drop. It was still down 13.1% over the five sessions through Friday.

Advanced Micro Devices rose 11.0% to $449.04 in that rebound, a day after it fell 17.3%. Nvidia rose 2.8% after falling 9.3% on Thursday.

AI and semiconductor stocks sold off Thursday as investors reassessed the data-center build-out after Democrats won control of Congress, CNBC reported Friday morning. Yahoo Finance said semiconductors bounced as investors digested what that win means for the build-out, after the AI trade was hammered on Thursday.

IREN, which runs data centers for AI computing, rose 20.0% to $21.64, well ahead of the semiconductor fund. On Thursday it reported AI-cloud revenue of $200 million for the quarter ended Sept. 30, up 182% from the prior quarter, and a net loss of $263 million.

Roundhill Investments' Roundhill Neocloud ETF NCLD rose 9.1%. It holds IREN and other companies that sell AI computing power, the group CNBC said was hit hard on Thursday.

Gogo, Karman, Firefly and Axon

Gogo, which sells in-flight broadband to business and government aircraft, rose 71.5% to $3.89 after the Federal Communications Commission renewed its exclusive US air-to-ground radio licenses for another 10 years, through Oct. 31, 2036.

Karman Space & Defense, which builds hardware for missiles, hypersonics and space launch, rose 42.1% to $45.61. It reported record quarterly revenue of $202 million, up 66% from a year earlier, and raised its fiscal 2026 revenue outlook to $755 million to $760 million.

Firefly Aerospace, a space and defense company, rose 36.8% to $20.76 after it agreed to supply AST SpaceMobile with 36 rocket engines, a license to the design, and engineering support. Firefly valued the three-year deal at more than $1.3 billion. AST SpaceMobile, which is building its own rocket to launch its satellites, rose 7.1%.

Axon Enterprise, a public-safety technology company, fell 18.2% to $313 and traded at a 52-week low of $307.

It cut its 2026 revenue-growth outlook to about 30%, from 32% to 34%, leaving out about $130 million from three federal drone-detection deployments it no longer expects this year. Third-quarter revenue was still $909 million, up 28% from a year earlier.