🔴 Semiconductor ETF (SMH) is trading 1.76% down in pre-market on September 28, 2026, as OpenAI training pause revives chip-demand concerns

SMH is trading at $595.88 (-1.76%) as OpenAI’s pause on training some advanced AI models revived concerns about AI development pace and chip demand.

• Asian semiconductor shares fell overnight.
• Weaker Nasdaq futures, higher Treasury yields, and renewed Iran-related tensions pressured technology shares and broader risk sentiment.
• A reported DOJ probe of Nvidia added to chip-sector headwinds; no major U.S. economic release is scheduled before the Dallas Fed index later today.