SMGB.L is trading at £73.69 (-5.73%) as doubts over returns from heavy AI infrastructure spending weigh on chip stocks. - Alphabet earnings and cash-flow concerns, alongside Amazon’s spending and Intel’s weak outlook, added pressure. - The Philadelphia Semiconductor Index fell about 1.4%, while South Korea’s KOSPI dropped 3.48% on October 30. - SMGB.L holds Intel and major chipmakers, increasing its exposure to the sector selloff.