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The chips that powered the artificial-intelligence rally are now leading its retreat.
Envestnet Asset Management Inc. raised its stake in shares of Invesco PHLX Semiconductor ETF (NASDAQ: SOXQ) by 226.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,012 shares of the company's stock after purchasing an additional 16,654 shares during the quarter.
It's easy to get skittish about the tech sector amid recent talk of slowing AI development and OpenAI scrapping the launch of its latest model due to safety concerns. AI demand has driven much of the sector's growth in recent years, after all.
BofA expects the global semiconductor market to nearly double by 2030. Here are a few semiconductor ETFs to consider.
Semiconductor ETFs are riding AI-driven demand and rising chip investment, with four funds offering diversified exposure to the industry's next growth phase.
Broadcom's AI revenues are surging, but softer guidance has weighed on shares, highlighting ETFs that offer diversified exposure to its growth.
The chairman of JPMorgan Asset Management's market and investment strategy warned on chip stocks within a day of their peak.
AI infrastructure spending, soaring memory demand and strong chip sales are fueling semiconductor growth, putting these ETFs in focus.