U.S. equities advanced at midday Thursday as chip stocks surged, led by Micron Technology ( MU ) after the memory chip maker reported strong sales driven by AI demand . The Dow, S&P 500, and Nasdaq all rose.

Jabil Circuit ( JBL ) shares also jumped after the company reported revenue that topped estimates, announced a restructuring, and gave an upbeat outlook.

Shares of Southwest Airlines ( LUV ) took off as the carrier, which as been under pressure from activist investor Elliott Investment Management , laid out a three-year turnaround plan.

CarMax ( KMX ) shares rose after the biggest U.S. used car retailer posted better-than-anticipated results on higher retail vehicle sales.

Super Micro Computer ( SMCI ) was the worst-performing stock in the S&P 500 following a report that the Justice Department is investigating the tech firm over alleged accounting violations.

Shares of Diamondback Energy ( FANG ) and others in the oil industry sank along with crude futures after Saudi Arabia committed to a production increase.

Pfizer ( PFE ) shares dropped as the pharmaceutical firm withdrew all of its sickle cell disease drug , Oxbryta, worldwide because of safety concerns.

Prices for gold and silver rose. The yield on the 10-year Treasury note was up. The U.S. dollar gained on the yen, but fell to the euro and pound. Most major cryptocurrencies traded higher.