Microsoft Surges to 2008-Level Gain as Nvidia and AMD Fall — AI Trade Splits Along the Value Chain

On July 30, 2026, AI stocks rebounded, but unevenly. Microsoft posted its best single-day gain since 2008, while Nvidia fell over 3% and AMD dropped roughly 5% after SK Hynix's disappointing earnings pressured semiconductor names. The divergence suggests investors are separating AI's software and cloud layer from its chip-production layer — a shift from the sector's earlier all-boats-rise phase.