IYW is trading at $269.15 (+1.77%) as Alibaba’s September 22 AI model and Zhenwu V900 chip announcement reinforced AI infrastructure and chip-demand enthusiasm.

  • AI-linked shares and semiconductors remain the primary drivers after the September 21 technology-led rally.
  • Falling oil prices and lower Treasury yields are supporting sentiment.
  • Broadly subdued futures suggest the move is concentrated in technology rather than a broad market rally.