The Philadelphia Semiconductor Index surged 75% YTD through May 2026, its fastest annual pace since the dot-com era, as AI chip demand reshapes semiconductor valuations.
Goldman Sachs warns AI capex dynamics are 'unprecedented and unsustainable' with only chip makers profiting; the SOX index is up 62% YTD while hyperscalers post losses.
Infineon forecasts AI data center revenue €1.5B (FY26) → €2.5B (FY27). STMicro and NXP share the same demand signal — power chips are the semiconductor AI beneficiary outside GPUs.
Micron crosses $700B market cap (first time ever) on highest-capacity SSD shipment milestone; SanDisk +12% on same catalyst — memory hardware sector surging on AI data center demand.
Apple is in early exploratory talks with Intel and Samsung's Texas plant to manufacture core device chips in the US — a potential shift away from TSMC dominance under government reshoring pressure.
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