SMH.L is trading at $101.72 (+6.70%) as semiconductor names rebound from the July 30 AI-capex selloff that hit the sector hard.
- Improved risk sentiment following cooler PCE data and broad tech earnings has lifted the semiconductor sector alongside the Nasdaq.
- Investors are engaging in a dip-buying recovery after a slump triggered by heavy AI spending concerns and Meta’s recent earnings report.
- Major holdings such as NVIDIA, AMD, and TSMC are amplifying the sector's move due to their large weights within the ETF.