On August 4, iShares Semiconductor ETF surged 5.15% in regular trading, trading at $532.42/share, with turnover of $1.406 billion.

The rally was driven by major North American cloud service providers raising their capital expenditure guidance, pushing the AI investment theme from speculative to fundamentals-driven. According to Futurum data, combined capex from the global top five cloud giants is expected to exceed $600 billion, with sustained AI computing demand providing strong support for the semiconductor industry. Additionally, ON Semiconductor reported Q2 results that beat market expectations and projected its Q3 AI data center-related revenue to double, further boosting confidence in the chip sector.

Separately, Anthropic signed a $10 billion computing power deal with Nvidia-backed Volta to secure 133MW of data center resources, underscoring robust demand from AI developers for high-performance chips. Broad strength was seen across the semiconductor supply chain, with Marvell Technology up over 8%, AMD up over 5%, Intel up nearly 5%, and optical communication names such as Applied Optoelectronics surging over 17%.

The fund generally invests at least 80% of its assets in the component securities of its index and in investments that have economic characteristics substantially identical to the component securities of its index. The fund is non-diversified.

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