IYW is trading at $243.49, up 1.73%, as chip and AI-networking gains track a broader market rally amid easing election uncertainty.

  • AMD reported record Q3 revenue of $13.4 billion and forecast $17 billion for Q4, supporting chip-sector optimism.
  • Arista Networks beat earnings expectations and raised its outlook, adding strength among AI-networking stocks.
  • The sector gains are outweighing earlier concerns about tighter AI regulation and data-center investment, though concerns about AI oversight persist.