🟢 SMH.L is trading 6.5% up today as chip sector rallies on Meta's AI chip plans and Micron investment

SMH.L is trading 6.5% up today, mirroring a strong rebound in the global semiconductor sector following an earlier AI-driven selloff.

• Gains are powered by a surge in U.S. chip stocks after the PHLX Semiconductor Index jumped over 3%, driven by Meta’s new ‘Iris’ AI chip plans involving Broadcom and TSMC.
• Market sentiment is further bolstered by Micron’s announcement of a massive long-term investment in AI memory technology.
• The London-listed VanEck Semiconductor ETF is tracking a broader recovery in high-growth tech hardware as AI momentum returns to the global markets.