SMH is trading 5.31% down today as investors fear calls from Anthropic, OpenAI, and other AI leaders to slow advanced-model development could reduce future demand for AI chips and data-center infrastructure.
- Semiconductor weakness is broad: SOXX is down 5.54%, while NVIDIA, Intel, AMD, and Marvell are also under pressure.
- Broader risk sentiment is weaker as oil prices rise and investors anticipate this week’s Federal Reserve meeting.