STORY: U.S. stocks ended mixed on Monday, with the blue-chip Dow rallying to a one-month high as investors rotated out of AI-related stocks and added some of this year's laggards.

The Dow climbed nearly seven-tenths of a percent, the S&P 500 shed about three-tenths and the tech-heavy Nasdaq dropped more than 1%.

AI darling Nvidia slid more than 6.5%, down for a third consecutive session. Last week, the chipmaker became the world's most valuable company but it has since handed the title back to Microsoft.

Other chip stocks, including Broadcom, Qualcomm and Marvell Technology also saw big one-day losses.

While investors on Monday may have taken AI-related profits, Rod von Lipsey, managing director at UBS Private Wealth Management, sees the sector pullback as temporary.

"We continue to believe that the enabling segment of AI - those are the power suppliers, those are the semiconductors, those are the cloud based companies - that those companies are still going to have incredible support. Forty percent of the companies in the S&P 500 mentioned in their last quarterly calls AI. So this trend is not over. We still think it has legs and we think that investors should make sure that they have exposure and continue to stay invested."

Tech stocks bucking Monday's downward trend were Apple and Meta Platforms, both of which rose after a report said the Facebook parent has discussed integrating its generative AI model into Apple's recently announced AI system for iPhones.

Technology and consumer discretionary stocks were the lone decliners among the 11 S&P 500 sector indexes.

Energy was the top out-performer, gaining more than 2.5%.

The biggest event on investors' radar this week is Friday's personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge, which is expected to confirm that price increases are cooling.