🔴 Semiconductor ETF (SMH3.L) is trading 13.41% down on October 23, 2026, amid doubts over AI-spending returns

SMH3.L is trading at $10.81, down 13.41%, as investors questioned returns from massive AI infrastructure spending.

• The sharp semiconductor-sector selloff occurred October 22; the Philadelphia Semiconductor Index fell 6.7%.
• Intel, AMD, Sandisk and Marvell each dropped more than 8%, while Lam Research’s cautious outlook added pressure to chip-related stocks.
• Geopolitical tensions and rising oil prices fueled broader risk aversion, though AI-spending concerns were the clearest sector driver.