SMH3.L is trading at $12.44, down -3.68%, as investors reassess AI spending amid rising financing costs for debt-heavy infrastructure projects. - Hotter inflation renewed rate-hike worries; the Nasdaq’s Friday decline and Arm–Qualcomm legal overhang added to sector losses. - Reports also cited CoreWeave debt concerns and chip-equipment supply constraints; SMH3.L’s 3x daily leverage magnifies moves in its semiconductor exposure.