SMH Hits Another High as AI Chip Stocks Rally Beyond Nvidia
• SMH traded above $646 around midday Monday, after finishing at $619.96 on June 12.• Lam Research, Marvell, Arm, ASML and Kulicke & Soffa extended their gains, building on last week’s chip rally.• Market strength continued as buyers stayed with AI infrastructure names. VanEck Semiconductor ETF surged Monday as SMH kept pushing to new highs. Buyers moved back into AI chip names after last week’s drop. SMH traded at $646.27 by 12:47 p.m. ET, up 4.2% on the day. The ETF hit $648.02 earlier. SMH closed at $619.96 on June 12, securing an 8.8% weekly jump according to 24/7 Wall St.