Tech stocks were the primary drivers of the US stock market surge on Monday, buoyed by reports of targeted tariff plans by President Donald Trump and a significant AI advancement by Jack Ma's Ant Group.

During early trading, shares of Meta (META) and AMD (AMD) each saw an increase of more than 3%, while Nvidia (NVDA) experienced a 2.3% rise. The Nasdaq Composite (^IXIC), which is heavily influenced by tech stocks, climbed by 1.5% shortly after the market opened.

The market uptrend on Monday was in response to news that Trump would reduce the number of US trading partners subjected to reciprocal tariffs on April 2. The administration also planned to restrict certain industry-specific tariffs, including those on cars and chips.

Ant Group's revelation that it had successfully trained more affordable AI models using Chinese-made chips and components from AMD demonstrated the ongoing advancements in the AI field. Nvidia CEO Jensen Huang also emphasized the escalating computing demands for AI, particularly noting China's DeepSeek's cost-effective models that rival pricier options like those from OpenAI.

Recent breakthroughs in the AI sector, such as FuriosaAI, a South Korean startup rejecting a lucrative offer from Meta, underscore the growing confidence of AI startups to independently explore the market. While these tech-related developments contributed to the overall rally, trade news remains a key factor driving market movements in the near future.