Forget Betting Everything on NVIDIA. This Chip Fund Rode the Same AI Boom and Is Up 79% in 2026 - 24/7 Wall St.

For the past three years, holding NVIDIA (NVDA) has been the easiest trade in markets. With a $5.06 trillion market cap built on near-monopoly dominance in AI accelerators, 85.23% revenue growth, and ... Read original →

The AI infrastructure boom is shifting from a single-accelerator narrative to full-stack synergy. SMH’s outperformance signals that 3nm scaling, EUV adoption, and high-bandwidth memory are now yielding returns. TSMC (Taiwan, China), as the dominant foundry, faces intensified geopolitical scrutiny, accelerating client diversification toward Samsung and Intel IFS. U.S. export controls, while raising compliance costs, have pushed AMD and Broadcom toward chiplet-based designs to reduce reliance on leading-edge nodes. Over the next 12–24 months, custom AI ASICs will proliferate beyond hyperscalers into edge applications, making memory bandwidth and interconnects critical bottlenecks—boosting Micron’s pricing power. SMH captures the dual tailwinds of supply chain regionalization and modular design, yet its concentrated holdings amplify exposure to equipment embargoes or tech decoupling shocks.