SMH ETF flows point to AI chip trade moving away from Nvidia
The VanEck Semiconductor ETF saw nearly $7 billion pour in on Monday, the biggest sign yet of investors looking beyond just Nvidia and into a basket of chip suppliers. That flow is making its mark. Semiconductor stocks climbed on the day, while the big tech names dragged the Nasdaq lower. The timing is key. LSEG Lipper data said U.S. equity funds picked up $38.37 billion for the week ended June 17, the biggest since November 2024. Technology sector funds got a record $21.46 billion in the same period. SMH’s one-day creation made up about a third of those tech inflows, showing just how much the AI trade is passing through a handful of ETFs.