SMH is trading at $552.13 (+2.29%) as investors buy back into the battered AI-chip trade.

  • Semiconductor shares are rebounding after an eight-session losing streak in the Philadelphia Semiconductor Index.
  • Lower Treasury yields and easing oil prices are helping sentiment after last week’s concerns about inflation and AI-infrastructure financing costs.
  • Intel is adding support after JPMorgan upgraded it to Neutral from Underweight; its shares were up 4.2% in premarket trading.