Chip stocks rose more than 5% on Monday, following a selloff last week that knocked off more than $1 trillion in market value.

The rebound was a sign that the AI-powered bull run isn’t coming to an end any time soon.

“A correction was inevitable and ultimately healthy,” a Morgan Stanley executive said. Nvidia’s CEO pitched the selloff as a buying opportunity, saying we’re only “at the beginning” of the AI moment.

The stock boost comes at a pivotal time for the US tech sector: SpaceX is expected to begin trading on the Nasdaq Friday in what could be the world’s largest IPO, and OpenAI on Monday confidentially filed to go public, following its rival Anthropic.