The VanEck Semiconductor-focused Tech ETF (SMH) is gaining as investors rotate into AI and chip names, with information technology leading broader markets. The key driver is NVIDIA’s confirmed entry into the Windows PC market with new 3nm AI-enabled SoCs, seen as expanding the company’s growth runway and boosting sentiment for high-end semiconductors and foundry partners like TSMC.[2] Stronger U.S. ISM manufacturing data and ongoing enthusiasm for AI infrastructure and AI PCs are further supporting tech-related hardware, lifting the semiconductor-heavy ETF alongside the Nasdaq.[1]