SMH3.L is trading at $12.63, up 3.59%, amid questions about sustainable returns from AI infrastructure spending and higher financing costs weighing on chip-sector sentiment. - U.S. stocks rebounded on October 20, with the Nasdaq up 0.21% and the S&P 500 up 0.35%, following an early AI-sector selloff; strong earnings helped sentiment recover. - Brent near $111 and Middle East tensions add inflation and risk concerns, but available evidence does not establish them as the direct cause of SMH3.L’s gain.