SMH3.L is trading at $16.85, down -8.04%, as AI-spending concerns pressure chip stocks after a report said OpenAI’s annualized revenue was nearing $50 billion.

  • The Philadelphia Semiconductor Index fell 3.4% on October 9, with Broadcom, AMD, and Nvidia among the decliners.
  • Higher Treasury yields and oil above $100 added valuation pressure to growth-oriented chip stocks.
  • As a 3x leveraged semiconductor ETP, SMH3.L can magnify moves in its underlying sector.