SMH is trading 2.95% up today as tech giants offer rare direct funding to SK Hynix to secure high-bandwidth memory (HBM) supplies, significantly boosting sentiment across the semiconductor sector.
- The funding initiative aims to stabilize the supply chain for critical AI components required for high-end computing.
- The Nasdaq Composite rose 1.14%, supported by robust earnings and ongoing momentum in artificial intelligence developments.
- Information technology remains a top-performing sector, outstripping the broader market despite lingering geopolitical tensions in the Middle East.