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The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index is designed to measure the stock performance of U.S. companies in the semiconductors subsector. Component companies include, among others, those engaged in the production and distribution of semiconductors and other integrated chips, as well as other related products such as semiconductor capital equipment and motherboards. The Index is published under the Bloomberg ticker symbol DJUSSC.

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DeepSeek provoca caída en las acciones de semiconductores. Expertos destacan ETF con bajos índices de gastos como oportunidad de inversión.

DeepSeek sacude los mercados: ¿Es momento de comprar ETF de semiconductores?

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Las acciones de Nvidia, AMD, Qualcomm y más suben tras los resultados de Taiwan Semiconductor, a pesar de las nuevas restricciones de EE.UU.

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Los racks Blackwell de Nvidia enfrentan retrasos por problemas técnicos. Las sanciones de EEUU podrían afectar hasta el 50% de sus ingresos.

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The Oracle of Omaha, Warren Buffett, during the 2025 Berkshire Hathaway Annual Meeting, expressed his disappointment over the depreciating U.S. dollar and said that no one would want to hold assets in a currency that was falling in value.
What Happened: Talking about the U.S. dollar, Buffett said, &#8220;You wouldn&#8217;t want to be owning anything that we thought was in a currency that was really going to hell. And that&#8217;s the biggest thing we are worried about United States currency.&#8221;
&#8220;I mean, the tendency of our government to want to debase its currency over time, there is no system that beats that,&#8221; he added, criticizing the government&#8217;s stance on a weaker dollar.
Buffett also underscored his concerns about the fiscal policy.
&#8220;You can pick dictators, you can pick representatives, you can do anything. But there will be a push toward a weaker currency. And of course, fiscal policy is what scares me in the United States because it&#8217;s made the way it is,&#8221; said Buffett.
See Also: <a href="https://www.benzinga.com/25/05/45213790/us-dollar-depreciation-is-cushioning-the-impact-of-tariffs-on-corporate-profits-says-expert-heres-how">US Dollar Depreciation Is Cushioning &#8216;The Impact Of Tariffs On Corporate Profits,&#8217; Says Expert</a>
Why It Matters: Analysts have criticized the U.S. government&#8217;s attempt to <a href="https://www.benzinga.com/government/regulations/25/04/44858165/policy-push-vs-market-pull-dollar-under-pressure-as-reserve-curren">weaken the U.S. dollar</a> in their analyses. Commentary from Chatham House expert David Lubin pointed out a "view of some within the Trump administration that the reserve currency status of the dollar is more of a burden to the U.S. economy than a blessing." 
According to him, the government&#8217;s &#8220;policy push" aims to weaken the dollar permanently against other currencies, hoping to reduce the trade deficit and attract manufacturers to the U.S.
However, Lubin strongly cautions against this approach, arguing that "if the international monetary system cannot rely on the dollar&#8217;s full convertibility, or its availability in a crisis, it is entering unknown territory. Undermining the dollar&#8217;s global status would not only transmit huge amounts of additional uncertainty to the global economy, but would be a needless act of self-harm for the U.S."
Price Action: As of the publication of this article, the U.S. Dollar Index Spot was 0.11% lower at the 99.7200 level. It has fallen by 8.02% on a year-to-date basis.
Whereas, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Monday. The SPY was down 0.57% to $563.51, while the QQQ declined 0.59% to $485.93, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
In premarket on Tuesday, SPY declined 0.61% and QQQ was down 0.84%.
Read Next:
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Photo courtesy: mark reinstein / Shutterstock.com

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General

Warren Buffett Expresses Disappointment Over Dollar Depreciation: Don't Want To Own Assets In A Currency That Is 'Really Going To Hell'

With the ongoing shifts in the markets, the U.S.&#8217;s reliance on foreign capital is reversing, leading to lower asset prices. However, its unique position as the issuer of the world&#8217;s reserve currency provides a significant advantage in navigating this shift, according to an expert.
What Happened: In a recent thread on X, Bob Elliot, co-founder, CEO, and CIO of Unlimited and former investment committee member of Bridgewater Associates, argued that, unlike typical emerging market balance of payments crises, the U.S. can prioritize domestic economic conditions due to its debt being <a href="https://www.benzinga.com/government/regulations/25/04/44895384/dollar-slips-to-a-three-year-low-below-98-mark-higher-rates-are-not-supporting-the-dollar-says-expert">denominated in U.S. dollars</a>.
A balance of payments crisis in an emerging market can often trigger aggressive rate hikes to retain foreign capital, curb consumption, and limit currency depreciation needed to service foreign-currency debt, typically crushing local assets.
However, Elliot argues that the U.S. situation differs fundamentally despite sharing the characteristic of high reliance on foreign capital. Since U.S. debt is not issued in a foreign currency but in its own, &#8220;U.S. policymakers are in the privileged position to prioritize domestic conditions through the adjustment process,&#8221; said Elliot.
While concerns exist about foreign selling pushing rates higher, as seen in an emerging market crisis, the Fed&#8217;s ability to prioritize domestic conditions in the U.S. means it can ease monetary policy even as capital withdraws.
If needed, &#8220;the Fed can always print money and buy the bonds,&#8221; particularly to offset potential deflationary pressures from a weakening economy, said Elliot.
He explains that, unlike typical BoP crises, the Fed&#8217;s focus on domestic conditions, enabled by a weaker dollar and easing interest rates, can limit equity losses from reduced demand.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">But unlike more traditional BoP crises, the US policymakers are in the privileged position to prioritize domestic conditions through the adjustment process. The result is a weaker currency but stronger bond and equity performance than in typical adjustments of the past.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1914994502973944198?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/25/04/44947085/analyst-expects-googles-ad-revenue-to-pick-up-in-q1-google-normally-beats-heres-what-alphabets-chart-shows-ahead-of-earnings">&#8216;Google Normally Beats,&#8217; Says Analyst Expecting Sundar Pichai-Led Company&#8217;s Ad Revenue To &#8216;Pick Up&#8217; In Q1: Here&#8217;s What Alphabet&#8217;s Chart Shows Ahead Of Earnings</a>
Why It Matters: According to Elliot, the selloff in U.S. assets is a consequence of the government&#8217;s efforts to reduce consumption through tariff policies and a subsequent narrowing of the current account deficit.
The decades-long buildup in foreign capital inflows since the 1990s, Elliot highlighted, was initially driven by reserve purchases and later by increased equity investments following the Global Financial Crisis. Also, foreign private investors funded substantial federal government deficits in recent years.
&#8220;Never would a country be allowed to run such a classic &#8216;twin deficit&#8217; problem for so long,&#8221; Elliot stated, emphasizing the unprecedented nature of this forty-year dynamic, made possible by the dollar&#8217;s reserve currency status.
Thus, he argues that the dollar&#8217;s reserve status can help policymakers make &#8220;adjustments&#8221; without creating a typical balance of payments crisis.
Price Action: As of the publication of this article, the Dollar Index Spot was trading 0.16% lower at the 99.6890 level, and the futures of the Dow Jones, S&amp;P 500, and Nasdaq 100 indices were down 0.49%,0.31%, and 0.39%, respectively.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Wednesday. The SPY was up 1.55% to $535.42, while the QQQ advanced 2.27% to $454.561, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44945402/wedbushs-dan-ives-raises-teslas-price-target-to-350-as-musk-promises-to-significantly-reduce-doge-time" target="_blank" rel="noreferrer noopener">Wedbush's Dan Ives Raises Tesla's Price Target To $350 As Elon Musk Promises To ‘Significantly' Reduce DOGE Time</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Analyst Color

Federal Reserve

Dollar-Denominated Debt Gives US Policymakers Edge In Navigating Economic Shocks, Says Expert: '...Are In The Privileged Position'

The U.S. Dollar Index Spot slipped below 98 points for the first time in over three years on Monday, while the 10-year Treasury yields were steady around 4.35%. Experts describe this divergence as the measure of stress in markets."
What Happened: The U.S. Dollar Index slipped 1.20% to 98.211 during the publication of this article. However, its day range stood between 97.921 — 99.208 on Monday, according to the TradingView data.
Historical data shows that the dollar index last slipped below the 98 point mark to 97.79 as of March 30, 2022, closing. Whereas, the 10-year Treasury bond yielded 4.35%.
Jim Bianco, the president and founder of Bianco Research LLC., highlighted this divergence in an X post and called it a "measure of stress in markets."
"Higher rates are not supporting the dollar right now. This means they might have to go a lot higher to stop the dollar from falling," he added.
The relationship between higher yields and higher dollar value exists because the dollar value generally appreciates when foreign investors buy U.S. dollar-denominated instruments, especially the risk-free Treasury bonds. However, this divergence, as shared by Bianco in the given chart, raises concerns.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">1/2 The breaking of this relationship is a measure of stress in markets &#8230; it continues to widen.(Higher rates are not supporting the dollar right now. This means they might have to go a lot higher to stop the dollar from falling.) <a href="https://t.co/PRj6mYNu0J">pic.twitter.com/PRj6mYNu0J</a>
&mdash; Jim Bianco (@biancoresearch) <a href="https://twitter.com/biancoresearch/status/1914160730535756287?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, economist Peter Schiff underscored that the dollar was 11% lower since President Donald Trump's inauguration day and 6% since the "so-called" Liberation Day, when the reciprocal tariffs against the U.S. trading partners were announced.
"Trump&#8217;s economic team assured us that foreigners would pay our tariffs, in part because their currencies would fall against the dollar. Instead, a collapsing dollar adds to our cost," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The U.S. Dollar Index has a 97 handle, down 11% since Trump took office (6% since Liberation Day.) Trump&#39;s economic team assured us that foreigners would pay our tariffs, in part because their currencies would fall against the dollar. Instead a collapsing dollar adds to our cost.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1914249859353264212?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/global/25/04/44891949/xi-jinpings-china-pledges-retaliation-against-countries-isolating-beijing-by-giving-into-trump-admini">Xi Jinping&#8217;s China Pledges Retaliation Against Countries Isolating Beijing By Giving Into Trump Administration&#8217;s &#8216;Unilateral Bullying,&#8217; Says It Will &#8216;Never Accept It&#8217;</a>
Why It Matters: Additionally, a recent study released last week, titled ‘<a href="https://www.benzinga.com/government/regulations/25/04/44858165/policy-push-vs-market-pull-dollar-under-pressure-as-reserve-curren">Dollar Upheaval: This Time is Different</a>,' highlights that "Between April 4 and April 14, the U.S. dollar depreciated by 3.6%." 
"Normally, in times of global volatility… the dollar appreciates as dollar-denominated assets benefit from a flight to safety. Not this time around," the note stated.
The dollar&#8217;s surprising depreciation indicates a divergence from typical market behavior. "If U.S. Treasuries are no longer viewed as the world&#8217;s preferred safe asset, then the status of the dollar as the world&#8217;s reserve currency may be called into question," the note stated.
Meanwhile, Chatham House expert David Lubin highlighted in another note that "policy push" from Trump's administration aims to weaken the dollar permanently against other currencies,
"Undermining the dollar&#8217;s global status would not only transmit huge amounts of additional uncertainty to the global economy, but would be a needless act of self-harm for the U.S.," cautioned Lubin.
Price Action: The dollar index was down 9.49% on a year-to-date basis. The WisdomTree Bloomberg US Dollar Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USDU#NYSE">USDU</a>) was 5.82% YTD, whereas, Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) dropped 7.99% in 2025.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. The SPY was down 1.32% to $519.46, while the QQQ declined 1.54% to $437.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44892375/dean-of-valuation-aswath-damodaran-warns-buying-the-dip-akin-to-catching-a-falling-">Dean Of Valuation Aswath Damodaran Warns Buying The Dip Akin To Catching A Falling Knife, Says It Takes A &#8216;Stronger Stomach&#8217; Than Most Have</a></li>
</ul>
Image Via Shutterstock

Macro Notification

Currency ETFs

Analyst Ratings

USDU

PowerShares DB US Dollar Index Bullish Fund

Dollar Slips To A Three-Year Low Below 98-Mark: 'Higher Rates Are Not Supporting The Dollar,' Says Expert

As the U.S. dollar remains under pressure, its status as the &#8220;reserve currency&#8221; has come into question. Experts are highlighting the current administration&#8217;s intentions to reshape global economic linkages, along with a market reaction that suggests a potential erosion in its status.
What Happened: The U.S. dollar index has declined 8.21% on a year-to-date basis as of the publication of this article. This decline was accelerated by the surprising market response to the <a href="https://benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock">administration&#8217;s announced reciprocal tariffs</a> in early April 2025.
A recent study titled &#8216;Dollar Upheaval: This Time is Different,&#8217; by five experts, including Zhengyang Jiang, Arvind Krishnamurthy, Hanno Lustig, Robert Richmond, and Chenzi Xu, highlights that &#8220;Between April 4 and April 14, the U.S. dollar depreciated by 3.6%.&#8221;
&#8220;Normally, in times of global volatility… the dollar appreciates as dollar-denominated assets benefit from a flight to safety. Not this time around,&#8221; the note stated.
This unexpected depreciation suggests a disconnect between traditional market dynamics and the dollar&#8217;s current performance. &#8220;If U.S. Treasuries are no longer viewed as the world's preferred safe asset, then the status of the dollar as the world's reserve currency may be called into question.&#8221;
Adding a crucial layer to this analysis is commentary from Chatham House expert David Lubin, who points to a &#8220;view of some within the Trump administration that the reserve currency status of the dollar is more of a burden to the U.S. economy than a blessing.&#8221;
This &#8220;policy push&#8221; aims to weaken the dollar permanently against other currencies, hoping to reduce the trade deficit and attract manufacturers to the U.S.
However, Lubin strongly cautions against this approach, arguing that &#8220;if the international monetary system cannot rely on the dollar's full convertibility, or its availability in a crisis, it is entering unknown territory. Undermining the dollar's global status would not only transmit huge amounts of additional uncertainty to the global economy, but would be a needless act of self-harm for the U.S.&#8221;
See Also: <a href="https://www.benzinga.com/25/04/44834505/scott-bessent-affirms-china-wont-weaponize-us-treasuries-as-it-would-weaken-their-currency-affecting-exports-we-do-buybacks">Scott Bessent Says China Won&#8217;t &#8216;Weaponize&#8217; US Treasuries, Citing Risk To RMB And Exports: &#8216;We Do Buybacks&#8217;</a>
Why It Matters: Despite the administration&#8217;s potential motivations and the market&#8217;s reaction, as detailed in the &#8216;Dollar Upheaval&#8217; note suggests a market pull away from the dollar&#8217;s traditional &#8220;safe asset&#8221; status.
Their analysis of the Treasury basis further indicates that investors &#8220;(i) question the safety of the dollar, not just Treasuries, and (ii) that they perceive these changes to be long-lasting.&#8221;
Lubin notes a growing argument in the government, citing Vice President JD Vance&#8216;s &#8220;resource curse&#8221; analogy and Steve Miran&#8216;s claim that the dollar&#8217;s reserve role is causing &#8220;persistent currency distortions&#8221; leading to trade deficits.
The confluence of a deliberate policy push to weaken the dollar and a market response indicating a declining appetite for dollar-denominated assets paints a concerning picture, according to these experts.
Price Action: The U.S. Dollar Index Spot was 0.33% up at the 99.706 level as of the publication of this article. It was close to its 52-week low of 99.0140 and 9.5% lower than its 52-week high of 110.1760.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Wednesday. The SPY was down 2.22% to $525.66, while the QQQ declined 3.02% to $444.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the Dow Jones futures were up 0.78%, whereas the S&amp;P 500 index rose 0.90% and the Nasdaq 100 advanced 1.09%.
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle">China Now Faces Up To 245% Tariffs On Certain Imports, Says White House: Here&#8217;s What You Should Know</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Bonds

Politics

Treasuries

Policy Push vs. Market Pull: Dollar Under Pressure As 'Reserve Currency May Be Called Into Question' Amid Tariff Turmoil

As the U.S. dollar witnessed its largest two-day decline in over two years, an economist argues the importance of devaluation for global growth while another expert explains the weakness to as a symptom and not a cause.
What Happened: The macro strategist at Crescat Capital, Otavio Costa highlighted the dollar&#8217;s largest two-day decline in over two years in his latest X post.
While he said that the dollar was the &#8220;most overvalued&#8221; concerning other fiat currencies, he reiterated that it &#8220;needs to be devalued to restore global growth.&#8221;
However, according to Aditya Sesh, the founder and managing director at Basiz Fund&nbsp;Services, the weakness in the dollar was a &#8220;symptom and not a cause.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Once again, almost unnoticed, we saw another substantial drop in the dollar. In fact, it was the largest two-day decline in over two years. The dollar remains one of the most overvalued in history relative to other fiat currencies, and in my view, it likely needs to be devalued… <a href="https://t.co/SJ8W2gQlsf">https://t.co/SJ8W2gQlsf</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1897457211993202752?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Other economists like Peter Schiff said that the plans to form a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategic reserve in the U.S. could be a reason for &#8220;dollar&#8217;s demise,&#8221; saying that &#8220;ultimate winner will be gold.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Bitcoin&#39;s success is predicated on the dollar&#39;s failure, if the U.S. is foolish enough to actually create a Bitcoin strategic reserve, this development will accelerate the dollar&#39;s demise, potentially benefiting Bitcoin in the short run. But the ultimate winner will be gold.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1897428815137153078?ref_src=twsrc%5Etfw">March 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/03/44160509/starlinks-european-rival-up-over-600-since-trump-halted-ukraine-aid-now-plans-to-replace-e">Starlink&#8217;s European Rival, Up Over 600% Since Trump Halted Ukraine Aid, Now Plans To Replace Elon Musk&#8217;s Satellite Internet Service In War-Torn Nation</a>
Why It Matters: Sesh said that &#8220;it is not surprising that the USD can come under pressure at various points in time,&#8221; while highlighting the following developments as the &#8220;symptoms&#8221;.
<ul>
<li>Correction After A Period Of Strength: According to Sesh, the dollar&#8217;s recent strong performance against other major currencies makes it susceptible to a natural market correction.</li>
</ul>
<ul>
<li>Fiscal Implications: A &#8220;review of public finance in the U.S.,&#8221; including cleaning up USAID and the spending cuts by the Department of Government Efficiency, &#8220;is a long time, arduous task&#8221;.</li>
</ul>
<ul>
<li>Economic Slowdown Signals: Sesh also highlights economic weakness hampering the USD. According to him, declining indicators like the ISM Purchasing Managers Index, particularly the drop in new orders, suggest a potential slowdown in US manufacturing.</li>
</ul>
<ul>
<li>Geopolitical And Infrastructure Burdens: Finally, the dollar&#8217;s reserve currency status, along with the need to renovate aging infrastructure, creates substantial financial obligations that can place downward pressure on the currency, according to Sesh.</li>
</ul>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY decline 0.87% to $577.96&nbsp;and QQQ was down 1.10% to $496.48, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Wednesday, the SPY declined 1.07% to $583.06, and the QQQ rose 1.30% to $502.01.
Read Next:
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Photo courtesy: Shutterstock

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Cryptocurrency

$BTC

US Dollar Weakness A 'Symptom Not Cause,' Argues Expert As Economist Hails Devaluation To 'Restore Global Growth'

Wall Street ended a two-week losing streak, with the S&amp;P 500 closing just 0.07% below its record high. The rally was fueled by <a href="https://www.benzinga.com/news/global/25/02/43748007/inflation-spikes-in-january-wall-street-rallies-on-ukraine-peace-talks-delayed-tariffs-this-week-in-the-markets">investor optimism despite tariff-related announcements</a> from President Donald Trump and mixed inflation data. 
The S&amp;P 500 gained 1.5%, the Nasdaq surged 2.6%, and the Dow rose 0.5%. Sector-wise, Information Technology led the gains, while Healthcare lagged.
<a href="https://www.benzinga.com/etfs">Among ETFs</a>, five stood out as last week's top performers.
GraniteShares 2x Long SMCI Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCL#NASDAQ">SMCL</a>) soared alongside Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), delivering significant leveraged gains.
<ul>
<li>Weekly Gains: 63.98%</li>
</ul>
<ul>
<li>Focus: Aims to mirror daily investment results of 2 times the daily percentage change of Super Micro Computer.</li>
</ul>
<ul>
<li>Expense Ratio: 1.5%</li>
</ul>
ProShares Ultra Bloomberg Natural Gas ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOIL#NYSE">BOIL</a>) rallied as natural gas prices rebounded from recent lows. 
<ul>
<li>Weekly Gains: 23.75%</li>
</ul>
<ul>
<li>Focus: Offers 2x daily leveraged exposure to natural gas aiming to catch big swings in price over a relatively short period. </li>
</ul>
<ul>
<li>Expense Ratio: 0.95%</li>
</ul>
PLUS Korea Defense Industry Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KDEF#NYSE">KDEF</a>) was propelled by South Korea's growing defense spending. 
<ul>
<li>Weekly Gains: 15.09%</li>
</ul>
<ul>
<li>Focus: Offers investment results that reflects the total return performance of the Korea Defense Industry Index.&nbsp;</li>
</ul>
<ul>
<li>Expense Ratio: 0.65%</li>
</ul>
ProShares Ultra FTSE China 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPP#NYSE">XPP</a>) gained on renewed interest in Chinese equities.
<ul>
<li>Weekly Gains: 14.16%</li>
</ul>
<ul>
<li>Focus: Offers 2x daily long leverage to the&nbsp;FTSE/Xinhua China 25 Index. This makes it an ideal tool for investors with a bullish short-term outlook for Chinese equities.</li>
</ul>
<ul>
<li>Expense Ratio: 0.95%</li>
</ul>
ProShares Ultra Semiconductors ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) benefited from bullish sentiment in chip stocks last week.
<ul>
<li>Weekly Gains: 10.46%</li>
</ul>
<ul>
<li>Focus: Offers 2 times daily long leverage to the Dow Jones U.S. Semiconductors Index.</li>
</ul>
<ul>
<li>Expense Ratio: 0.95% </li>
</ul>
Also Read:<a href="https://www.benzinga.com/government/regulations/25/02/43656846/inflation-rises-more-than-expected-in-january-chills-interest-rate-cut-hopes"> Inflation Rises More Than Expected In January, Chills Interest Rate Cut Hopes</a>
<h2 class="wp-block-heading">What Happened In The Market Last Week?</h2>
Among individual stocks, Super Micro Computer was the biggest gainer in the S&amp;P 500, surging 32%, followed by Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) gaining 24%. On the downside, West Pharmaceutical Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>) fell 33%, leading the week's worst performers.
With investors digesting economic data and global trade developments, attention now shifts to the week ahead, where key earnings reports and macroeconomic events could set the tone for market direction.
Wall Street rebounded after two weeks of losses. Investor sentiment improved despite geopolitical and inflation concerns.
The week also saw Trump announce a 25% tariff on steel and aluminum imports. However, the lack of immediate enforcement helped ease market fears. Inflation data also influenced sentiment, with a hotter-than-expected consumer report midweek offset by a softer producer <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43701823/economists-breathe-sigh-of-relief-why-producer-inflation-isnt-as-bad-as-it-seems">inflation reading on Thursday</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/25/02/43769585/health-insurance-etfs-in-focus-as-rfk-jr-takes-over-hhs">Health Insurance ETFs in Focus as RFK Jr Takes Over HHS</a></li>
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Photo: Shutterstock

BOIL

INTC

KDEF

SMCI

SMCL

Wall Street Bounces Back: Top-Performing ETFs Of Last Week

The emergence of DeepSeek, a Chinese artificial intelligence startup <a href="https://www.benzinga.com/25/01/43232316/deepseek-jitters-shatter-us-tech-stocks-wipe-out-12-trillion-on-wall-street-analyst-eyes-four-chinese-giants-set-to-benefit">rattled the markets</a> on Monday. However, as AI demand continues to rise many described the reaction to be "overdramatic" and suggested to "buy the dip". Here is a list of top semiconductor exchange-traded funds, with the lowest expense ratios that investors could consider. 
What Happened: As DeepSeek boasts of high performance at a significantly lower cost, semiconductor stocks which are the backbone of AI development, bore the brunt of the selloff.
"To me, it's an overreaction," Fundstrat Global Advisors‘ head of research Tom Lee <a href="https://www.cnbc.com/2025/01/27/tom-lee-calls-market-sell-off-overreaction-nvidia-falls-on-deepseek-news.html?taid=67980792a96d920001c44f58&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain">told </a>CNBC's "Closing Bell," comparing the drop to Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) March 2020 decline that proved to be a significant <a href="https://www.benzinga.com/markets/equities/25/01/43259288/fundstrats-tom-lee-sees-nvidias-17-plunge-as-an-opportunity-calls-nasdaqs-over-600-points-plunge-drop-a-market-overreaction">entry point</a> for investors.
Similarly, Subho Moulik, the founder and CEO of Appreciate said, "The sudden emergence of DeepSeek is a Sputnik-like moment for the U.S. and potentially undermines U.S. AI exceptionalism, but we see yesterday's panic selling to be overdramatic."
As Nvidia shares <a href="https://www.benzinga.com/markets/equities/25/01/43259288/fundstrats-tom-lee-sees-nvidias-17-plunge-as-an-opportunity-calls-nasdaqs-over-600-points-plunge-drop-a-market-overreaction">plunged</a> 17% on Monday, eroding $593 billion in <a href="https://x.com/charliebilello/status/1884009665597690125">market capitalization</a>, Moulik said, "It's not just Nvidia, the other semicaps that took a battering in the markets – Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) – can be an interesting buy on dip."
Investors could consider buying ETFs with a low expense ratio to "buy on dip." An expense ratio is a percentage that represents the annual cost of owning a fund or an ETF which is calculated by dividing a fund&#8217;s operating expenses by its net assets.
According to <a href="https://www.schwab.com/learn/story/etfs-how-much-do-they-really-cost#:~:text=Investors%20should%20consider%20the%20impact,significantly%20erode%20returns%20over%20time.">Charles Schwab</a>, &#8220;ETFs with lower expense ratios and lower trading costs typically offer better value to investors, because higher expense ratios and/or steeper trading costs may significantly erode returns over time.&#8221; 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETF Name</td>
<td>AUM (In Billion)</td>
<td>Expense Ratio</td>
<td>Six Month Returns</td>
</tr>
<tr>
<td>SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>)</td>
<td>$1.28</td>
<td>0.35%</td>
<td>-0.29%</td>
</tr>
<tr>
<td>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>)</td>
<td>$23.60</td>
<td>0.35%</td>
<td>-1.17%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)</td>
<td>$13.86</td>
<td>0.35%</td>
<td>-7.14%</td>
</tr>
<tr>
<td>First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>)</td>
<td>$1.32</td>
<td>0.60%</td>
<td>-9.11%</td>
</tr>
<tr>
<td>ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>)</td>
<td>$1.24</td>
<td>0.95%</td>
<td>-7.38%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: <a href="https://www.etf.com/topics/semiconductors">ETF.com</a> </figcaption></figure>
See Also: <a href="https://www.benzinga.com/25/01/43259969/microsoft-ai-revenue-poised-to-surpass-10-billion-fueling-explosive-growth-says-piper-sandler-as-it-maintains-overweight-rating-on-msft">Microsoft&#8217;s AI Revenue Set To Surpass $10 Billion: Piper Sandler Maintains Overweight Rating </a>
Why It Matters: According to Moulik, DeepSeek&#8217;s claim of lower training costs of $6 million vs ChatGPT&#8217;s $100 million plus, remains unverified. The Chinese firm's reliance on less-advanced Nvidia chips, due to U.S. chip export restrictions, could also hinder its ability to maintain a competitive edge in AI development.
Even if DeepSeek&#8217;s cost claims hold, it&#8217;s still positive for Big Tech, said Moulik, as AI extends beyond Large Language Models. Cost-effective LLM training allows U.S. companies to prioritize <a href="https://www.benzinga.com/markets/25/01/43222744/verizon-launches-ai-connect-as-mckinsey-predicts-that-60-70-of-ai-workload-will-shift-from-training-to-inferencing-by-2030">LLM inferencing</a> – the next stage. Inferencing involves applying pre-trained LLMs for real-world tasks, optimizing AI investments by shifting focus from costly training to scalable, practical applications, ultimately driving long-term growth.
"For industry leaders like Microsoft Corp. and Alphabet Inc., this means redirecting massive spending from training infrastructure to real-world applications such as search, customer service, and automation," added Moulik. Cloud servers like Amazon.com Inc.&#8217;s Amazon Web Service could benefit too.
Although the short-term will be bumpy, the long-term runway appears stable, added Moulik, "Unless DeepSeek drops another Chinese New Year gift to the world later&nbsp;this&nbsp;year.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/01/43258090/gamestop-short-seller-wants-freedom-of-speech-for-millions-having-stock-market-conversations-questioning-sec-on-what-protects-honest-opinions">Gamestop Short Seller Wants Freedom Of Speech For &#8216;Millions&#8217; Having Stock Market Conversations, Questioning SEC On &#8216;What Protects Honest Opinions?&#8217;</a></li>
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Photo courtesy: Shutterstock

DeepSeek Buzz Batters Big Tech But This Analyst Says 'Buy The Dip:' Here's Are Top 5 Semiconductor ETFs With The Lowest Expense Ratios That You Can Consider

Exchange-traded funds, or ETFs, with leveraged exposure to chipmaker Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/etfs">experienced a dramatic Monday</a> thanks to the debut of AI upstart DeepSeek. 
<ul>
<li>The GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) plunged 34.55% as of writing. </li>
<li>Graniteshares 2x Short NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVD#NASDAQ">NVD</a>), its leveraged inverse counterpart designed to profit from Nvidia&#8217;s losses, soared 34.69% at last check</li>
<li>The ProShares Ultra Semiconductors ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>), which holds more than 40% of its assets in Nvidia, dropped by more than 27% </li>
<li>More broadly, the Vanguard Information Technology Index Fund, where Nvidia is the second-largest holding at nearly 15% of the portfolio, shed 4.7%.</li>
<li>The VistaShares Artificial Intelligence Supercycle ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIS#NYSE">AIS</a>), which has only 3% of its assets in Nvidia but holds other AI stocks, lost 8.43%.</li>
</ul>
These ETFs offer the potential for amplified profits at the cost of higher-than-usual fees of around 1% and greater volatility. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43250480/nvidia-sinks-below-200-day-average-for-first-time-in-2-years-deepseek-technical-reset">Nvidia Sinks Below 200-Day Moving Average For First Time In 2 Years As DeepSeek Sparks Historic Technical Reset</a>
<h3 class="wp-block-heading">What Triggered The Selloff?</h3>
DeepSeek is the culprit. This <a href="https://www.benzinga.com/25/01/43232316/deepseek-jitters-shatter-us-tech-stocks-wipe-out-12-trillion-on-wall-street-analyst-eyes-four-chinese-giants-set-">Hangzhou, China-based AI startup</a> launched a new model that poses a challenge to U.S. competitors, including Nvidia's core business. 
DeepSeek's open-source AI model has already surpassed ChatGPT in downloads on Apple's app store, leaving the AI market in awe. Industry experts like venture capitalist Marc Andreessen called this moment a &#8220;Sputnik moment&#8221; for U.S. AI companies as this could be a ground-breaker in the AI space, reported Reuters.
The market's reaction was swift. Nvidia&#8217;s stock, a major player in the AI space, dropped nearly 17.65%, taking along semiconductor stocks like Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Marvell Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) in the ride south. 
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), which tracks semiconductor stocks, also plummeted by 8.39%, experiencing its worst day since the pandemic-led selloff in March 2020.
As fear spread, investors flocked to safe-haven assets like U.S. Treasuries, leading to yields on the 10-year note dipping to a one-month low.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43244872/tech-stocks-tumble-on-ai-nightmare-nvidia-eyes-worst-day-since-march-2020-bitcoin">Tech Stocks Tumble On AI Nightmare, Nvidia Eyes Worst Day Since March 2020, Bitcoin Drops Below $100,000: What&#8217;s Driving Markets Monday?</a></li>
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Photo: Shutterstock

NVDL

DeepSeek AI Model Sends Shockwaves Through Nvidia, Slams ETFs

The Bank of Japan has raised interest rates by 25 basis points, marking a 17-year high of 0.50%. This move signifies the end of an era of historically low interest rates for the Asian exporter. We assess how BOJ&#8217;s move can impact the U.S. dollar and the stock market.
What Happened: An increase in interest rates generally leads to higher yields, and less liquidity in the system leading to uncertainty in the stock market.
Investors have famously used Japan&#8217;s historically low interest rates for a carry trade, which involves borrowing in yen and investing in other higher-yielding assets.
However, BOJ&#8217;s rate decision could lead to &#8220;the unwinding of carry trade positions,&#8221; said Markus Ammann, the global advisor at BierbaumPro AG, in a LinkedIn post.
&#8220;Japan's evolving monetary strategy reflects its efforts to adapt to changing economic conditions while addressing decades-long deflationary pressures,&#8221; said Giordano Colombini, the co-founder of MG Bridge Consulting.
<h4 class="wp-block-heading">Impact On Yields</h4>
After BOJ&#8217;s announcement, the U.S. Treasuries remained largely unchanged, with the 10-year bond yielding 4.63% and the two-year bond at 4.27%. The Japanese two-year and 10-year bonds rose to 0.72% and 1.24%, respectively.
&#8220;Traders had almost fully priced in a rate change while about three-quarters of economists predicted the move in a Bloomberg survey released last week,&#8221; the global macroeconomic expert, Anish Nanda told <a href="http://pro.benzinga.com">Benzinga</a>.
Japanese investors are the largest foreign holders of U.S. Treasuries, said Nanda, adding that &#8220;Rate hikes in Japan could impact U.S. investors, it would pressure U.S. Treasuries if Japanese investors were to pull money out.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/43183617/goldman-research-shows-us-market-falls-just-5-after-tariff-imposition-but-7-after-retaliatory-tariffs-we-lose-when-we-punch-and-we-lose-when-were-punched-says-economist">Trump Tariffs A Lose-Lose Proposition? Goldman Research Indicates Markets Fall After Imposition And Retaliation — Economist Warns &#8216;We Lose When We Punch And We Lose When We&#8217;re Punched&#8217;</a>
<h4 class="wp-block-heading">Impact On Dollar</h4>
While the U.S. dollar fell by 0.40% to 107.627, as of 7:22 a.m., ET, the USD/JPY rate pulled back from the day&#8217;s high of 156.4.
According to Nanda, future rate hikes could further boost the yen and any decision to cut interest rates by the Fed would likely weaken the dollar. Simultaneously, the dollar continues to be under pressure following the Trump administration&#8217;s call for imposing tariffs.
&#8220;The yen is expected to gain further ground if the BOJ maintains its hawkish stance, though volatility is expected in the USD to JPY pair,&#8221; he added.
<h4 class="wp-block-heading">Impact On U.S. Market</h4>
While the change in Japan&#8217;s monetary policy has no direct impact on the U.S. market, a weaker dollar, higher yields and resultant change in liquidity environment can create headwinds for U.S. equities, also owing to changes in its own economic policies.
&#8220;The interplay of economic policies, inflation trends, and market reactions is shaping a volatile yet intriguing narrative for 2025,&#8221; said Jez Jacob, the AVP at Finvasia.
Read Next:
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Image Via Shutterstock

Asia

How Bank Of Japan's Shift From Historically Low Interest Rates Impacts US Markets: Higher Yields, Less Liquidity, Market Uncertainty And More

<a href="https://www.benzinga.com/topic/ai-chips" target="_blank" rel="noreferrer noopener">Artificial intelligence chip stocks</a> including Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Marvell Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), and Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), are trading higher Thursday in sympathy with Taiwan Semiconductor Manufacturing Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/news/earnings/25/01/43022654/taiwan-semiconductor-q4-earnings-3nm-and-5nm-nodes-lead-topline-growth-expands-margins-issues-strong-q1-outlook" target="_blank" rel="noreferrer noopener">upbeat quarterly print</a>.
Taiwan Semiconductor is the key contract chipmaker behind Nvidia&#8217;s graphics processing units&nbsp;(GPU) and Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) smartphones.
However, on Wednesday, the Biden administration announced its <a href="https://www.benzinga.com/government/regulations/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report" target="_blank" rel="noreferrer noopener">latest semiconductor regulations</a>, including extended licensing requirements on companies like Taiwan Semiconductor, which manufactures chips, and packaging companies, citing national security threats.
Also Read: <a href="https://www.benzinga.com/media/25/01/42981814/apple-and-nvidia-supplier-taiwan-semiconductor-leads-semiconductor-market-with-64-share" target="_blank" rel="noreferrer noopener">Apple And Nvidia Supplier Taiwan Semiconductor Leads Semiconductor Market with 64% Share</a>
Chipmakers like Taiwan Semiconductor and&nbsp;Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) must <a href="https://www.benzinga.com/25/01/43003008/taiwan-semi-samsung-intel-may-face-stricter-us-rules-on-chip-exports-to-china-over-security-concerns" target="_blank" rel="noreferrer noopener">ramp up due diligence</a> especially with China-based firms.
Washington imposed sanctions on 16 Chinese companies, including Sophgo Technologies, for building their country&#8217;s chip industry, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-15/us-unveils-new-rules-to-restrict-flow-of-advanced-chips-to-china?srnd=phx-technology&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">cites</a> the Commerce Department.
On Monday, the U.S. disclosed sanctions on the sale of AI chips by Nvidia and other advanced makers to data centers in most countries.
The rules for AI chips follow&nbsp;controls&nbsp;announced in December that aim to block Beijing&#8217;s access to <a href="https://www.benzinga.com/government/24/08/40198085/huawei-and-baidu-increase-samsung-hbm-purchases-as-us-curbs-loom" target="_blank" rel="noreferrer noopener">high-bandwidth memory</a> chips from Micron.
Semiconductor chip stocks enjoyed a massive upside in 2024, backed by the AI boom.
A third of the top ten global companies with valuations above $1 trillion in 2024 came from the chip industry.
Investors can gain exposure to stocks of companies that manufacture semiconductors through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Also Read:
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<li><a href="https://www.benzinga.com/tech/25/01/43008511/broadcoms-latest-san-switch-offers-scalable-energy-efficient-solution-for-growing-storage-demands" target="_blank" rel="noreferrer noopener">Broadcom&#8217;s Latest SAN Switch Offers Scalable, Energy-Efficient Solution for Growing Storage Demands</a></li>
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Photo via Shutterstock

AI Chip Stocks Gain Momentum On Taiwan Semiconductor Performance;  Biden's Semiconductor Sanctions Kick In

Nvidia&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/semiconductors" rel="noreferrer noopener">U.S. Big Tech customers</a>, including Microsoft&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services, Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)&nbsp;&nbsp;Google, and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) postponed Blackwell GB200 rack orders due to overheating problems, Reuters cites the Information.
A data center rack accommodates chips and cables. Reportedly, Nvidia&#8217;s hyperscalar customers had placed orders worth $10 billion or more.
The first rack shipments with Blackwell chips reportedly exhibited glitches in the chips&#8217; connections, prompting customers to postpone orders for an updated version or purchase the company&#8217;s older AI chips.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42924519/nvidia-amd-broadcom-lead-semiconductor-stock-decline-amid-us-china-ai-chip-export-ban-concerns-amd-downgraded-by-goldman-sachs-and-more" rel="noreferrer noopener">Nvidia, Broadcom Among Goldman Highlights For AI Opportunities</a>
The Biden administration&#8217;s potential <a target="_blank" href="https://www.benzinga.com/government/regulations/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report" rel="noreferrer noopener">AI chip and technology exports</a> posed a double whammy for Nvidia.
The ten leading global semiconductor companies slashed their capital expenditure plans to tackle overcapacity and weakening demand in electric vehicles and smartphones, with artificial intelligence offering minimal respite, Nikkei Asia <a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Chipmakers-cut-investment-plans-by-9.5bn-on-smartphone-EV-slump" rel="noreferrer noopener">reports</a>.
Capex plans for each company&#8217;s fiscal 2024&nbsp;dropped&nbsp;to $123.3 billion (down by 2%), implying a decline of $9.5 billion from their May estimates, which predicted a 6% growth.
DA Davidson&#8217;s Gil Luria told Reuters he expects the U.S. embargo to significantly affect (Nvidia&#8217;s) market as up to 50% of its chips end up in countries that will be off-limits once the rules kick in. Dan Coatsworth of AJ Bell also voiced similar concerns about the sanctions to Reuters.
Reuters cites the company&#8217;s regulatory disclosures as indicating that Nvidia generates ~56% of its revenue from customers outside the U.S., with China making up about 17% of sales.
Nvidia Vice President of Government Affairs Ned Finkle and the Semiconductor Industry Association had expressed dissatisfaction with the U.S. semiconductor sanctions that would hinder Nvidia&#8217;s growth potential.
Interestingly, the U.S. sanctions will benefit the U.S. Big Tech giants as they can grow their market share by seeking approval to establish data centers in countries affected by the embargo.
Investors will closely watch for President-elect Donald Trump&#8217;s take on the potential semiconductor embargo.
Investors can gain exposure to stocks of companies that manufacture semiconductors through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: NVDA stock traded higher by 1.53% to $135.27 premarket at the last check on Tuesday.
Also Read:
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<li><a href="https://www.benzinga.com/government/regulations/25/01/42947562/taiwan-semiconductor-begins-4nm-chip-production-in-arizona-eyes-11-4-billion-q4-profit" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor Begins 4nm Chip Production in Arizona, Eyes $11.4 Billion Q4 Profit</a></li>
</ul>
Photo by Tatiana Popova and rawf8 via Shuttterstock

GOOG

US Semiconductor Sanctions Spell Trouble for Nvidia, But May Benefit Big Tech

As Washington ramps up chip export restrictions to unfriendly countries, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) are in the midst of a geopolitical power shift that could disrupt the semiconductor <a href="https://www.benzinga.com/topic/semiconductors">industry&#8217;s global landscape.</a>
In a report shared Monday, Bloomberg outlined the Biden administration&#8217;s imminent release of updated export <a href="https://www.benzinga.com/government/regulations/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report">rules targeting advanced semiconductors. </a>
The new measures, expected to drop Friday, intensify the U.S.&#8217;s strategic efforts to slow China's technological and military advancements by restricting access to high-performance computing chips.
<h3 class="wp-block-heading">New AI Export Framework: Allies And Adversaries</h3>
The regulations will reportedly create a three-tiered structure for semiconductor exports, emphasizing access tiers for key U.S. allies, neutral nations, and restricted countries. 
China is expected to fall under the most severe tier, joining nations such as Russia, Iran, and Venezuela.
This tier-based framework allows certain companies in restricted countries to bypass national limits by agreeing to U.S. security protocols and human rights standards. 
These entities, designated as validated end users, would have higher caps for chip purchases, a move aimed at encouraging safer AI development globally.
The measures expand the sweeping export restrictions initiated in October 2022, which already limited sales of advanced AI chips like Nvidia's Hopper GPUs. 
These earlier rules also prohibited U.S. firms and individuals from supporting Chinese chip development without explicit government approval. 
<h3 class="wp-block-heading">Nvidia And AMD Under Scrutiny</h3>
Nvidia's specialized A800 and H800 chips, developed to comply with prior regulations, could now fall under new restrictions, potentially denting AI giant&#8217;s upcoming revenues. 
According to data firm FactSet, China accounts for approximately 16% of Nvidia&#8217;s revenue, making it the company's second-largest market after the U.S. This marks a decline from 25% prior to the 2022 export restrictions.
In 2023, AMD generated roughly $3.4 billion in revenue from China, including Hong Kong, according to Statista. This represents 15% of the company&#8217;s total revenue of $22.7 billion.
<h3 class="wp-block-heading">Key ETFs Tied To Nvidia And AMD</h3>
Several ETFs heavily exposed to Nvidia and AMD could face ripple effects:
Top ETFs Holding Nvidia (Percentage of Holdings):
<ul>
<li>ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>): 34.96%</li>
<li>Strive U.S. Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NASDAQ">SHOC</a>): 21.10%</li>
<li>YieldMax Target 12 Semiconductor Option (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXY#NASDAQ">SOXY</a>): 20.50%</li>
<li>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>): 20.21%</li>
<li>VanEck Fabless Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMHX#NASDAQ">SMHX</a>) – 20.11%</li>
</ul>
Top ETFs Holding AMD (Percentage of Holdings):
<ul>
<li>VanEck Video Gaming and Esports ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPO#NASDAQ">ESPO</a>): 8.01%</li>
<li>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>): 7.12%</li>
<li>AOT Growth and Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOTG#NASDAQ">AOTG</a>): 7.07%</li>
<li>Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>): 7.04%</li>
<li>REX FANG &amp; Innovation Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>): 6.95%</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42888800/goldman-sachs-flags-market-correction-risk-as-inflation-trump-policies-stir-uncertainty">Goldman Sachs Flags Market Correction Risk As Inflation, Trump Policies Stir Uncertainty</a></li>
</ul>
Image created using photos from Shutterstock.

Global

AOTG

ESPO

FEPI

EA Series Trust Strive U.S. Semiconductor ETF

SHOC

SMHX

SOXY

Biden's Final Chip Curbs Set To Shake AI Markets: 10 ETFs With High Stakes In Nvidia, AMD

<a href="https://www.benzinga.com/topic/semiconductors" target="_blank" rel="noreferrer noopener">Semiconductor chips stocks</a>, including Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>), Marvell Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Super Micro Computer, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) surged during premarket trading on Monday ahead of the Consumer Electronics Show (CES) in Las Vegas on Tuesday.
The investor enthusiasm also reflects Big Tech giant Microsoft Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) plans to commit <a href="https://www.benzinga.com/25/01/42804813/microsofts-80-billion-investment-outlay-musks-battle-with-openai-and-nvidias-billion-dollar-bet-this-week-in-artificial-intelligence" target="_blank" rel="noreferrer noopener">$80 billion to</a> developing AI data centers in fiscal 2025. 
Additionally, Foxconn, also known as Hon Hai Technology, reported robust revenue in <a href="https://www.benzinga.com/news/earnings/25/01/42808796/foxconn-posts-record-revenue-rides-high-on-ai-server-demand-and-nvidia-partnership" target="_blank" rel="noreferrer noopener">the fourth quarter</a>, backed by cloud and networking products revenue and AI server demand.
Also Read: <a href="https://www.benzinga.com/25/01/42793170/alibaba-cloud-joins-forces-with-ex-google-execs-unicorn-to-boost-ai-models" target="_blank" rel="noreferrer noopener">Alibaba Cloud Joins Forces With Ex-Google Exec&#8217;s Unicorn To Boost AI Models</a>
The Taiwanese Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia supplier&#8217;s revenue grew by over 15%, reaching $64.8 billion. December revenue grew by over 42% to $19.9 billion.
Investors expect Nvidia to offer positive pointers at CES, as Focus Taiwan <a href="https://focustaiwan.tw/business/202501060009" target="_blank" rel="noreferrer noopener">cites</a> MasterLink Securities analyst Tom Tang alluding to Nvidia chief Jenseng Huang&#8216;s keynote speech at the event.
The semiconductor chip stocks had a remarkable run in 2024, backed by the AI frenzy, pivotal to the S&amp;P 500 and Nasdaq index&#8217;s&nbsp;gains of 23%—29% in 2024.
Last year, a third of the 10 global companies worth over $1 trillion valuation were from the chip industry.
Notably, Nvidia&#8217;s valuation <a target="_blank" href="https://www.benzinga.com/25/01/42793394/nvidias-2-trillion-ai-rally-fueled-by-chips-startups-and-robotics" rel="noreferrer noopener">surged by over</a> $2 trillion in 2024, breaching the $3 trillion mark. This was backed by its GPUs, which initially targeted video games but ended up being critical hardware for developing AI models. Broadcom joined the&nbsp;trillion-dollar club&nbsp;in 2024, supported by demand for its custom chips.
Contract chipmaker Taiwan Semiconductor <a target="_blank" href="https://www.benzinga.com/25/01/42784508/taiwan-semiconductors-2nm-progress-fuels-taiwan-index-musk-highlights-talent-pool" rel="noreferrer noopener">remains on track</a> to produce 2nm chips&nbsp;in Taiwan and commercialize 4nm chips at its Arizona fab. It is a key supplier to companies such as Apple, Nvidia, AMD, and more.
Dan Ives of Wedbush expects tech stocks to post a 25% gain in 2025, backed by favorable policies from President-elect Donald Trump and Big Tech spending.
Investors can gain exposure to semiconductor stocks through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
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</ul>
Photo: Shutterstock

AI Chip Stocks Nvidia, Broadcom, AMD, Taiwan Semi, Micron, Super Micro Surge Premarket: Whats Going On?

Taiwan Semiconductor Manufacturing Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) plan to <a target="_blank" href="https://www.benzinga.com/24/12/42721526/taiwan-semiconductors-kaohsiung-expansion-to-boost-jobs-and-2-nm-chip-production" rel="noreferrer noopener">produce 2nm chips</a> in Taiwan is progressing steadily as the contract chipmaker prepares to begin commercializing 4nm chips at its Arizona fab.
The chipmaker has completed limited risk production of ~5,000 wafers leveraging its 2nm process at the Baoshan fab in Hsinchu Science Park, TechNode <a target="_blank" href="https://technode.com/2025/01/03/tsmc-completes-risk-production-of-2nm-process-with-5000-wafers/" rel="noreferrer noopener">reports</a>.&nbsp;
Taiwan Semiconductor has planned to roll out its 2nm production at the Baoshan and Kaohsiung fabs.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/25/01/42762874/broadcom-thrives-with-114-stock-surge-in-ai-boom-while-intel-faces-steep-decline" rel="noreferrer noopener">Broadcom Thrives with 114% Stock Surge in AI Boom, While Intel Faces Steep Decline</a>
During an earnings call, Taiwan Semiconductor Chair C.C. Wei said the company does not expect a shift toward chipset designs driven by high-performance computing (HPC) to affect its 2nm production.
Wei said that growing interest in 2nm has increased demand, surpassing 3nm.
Taiwan Semiconductor launched the N2P process technology to support smartphone and high-performance computing (HPC) applications. Mass production will begin in the second half of 2026, he added.
Shares in Taiwan closed higher on Friday, buoyed by gains in the electronics sector, particularly Taiwan Semiconductor, the most extensive stock by market weight.
The Taiex showed resilience despite mixed signals from U.S. markets, which saw slight declines in the Dow Jones Industrial Average and Nasdaq index on Thursday, Focus Taiwan <a target="_blank" href="https://focustaiwan.tw/business/202501030010" rel="noreferrer noopener">reports</a>.
Analysts credited Taiwan Semiconductor&#8217;s strong performance for lifting the Taiex, contributing 80 points to the index&#8217;s rise.
Elon Musk, CEO of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) also highlighted Taiwan&#8217;s significant technical expertise as the foundation of its semiconductor industry&#8217;s success in an X post on December 28, where he praised the island&#8217;s talent pool in response to a discussion about Taiwan Semiconductor, Focus Taiwan <a target="_blank" href="https://focustaiwan.tw/business/202501030007" rel="noreferrer noopener">reports</a>.
Responding to a post by Bojan Tunguz, a former data scientist at Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Musk credited Taiwan&#8217;s untapped talent pool for Taiwan Semiconductor&#8217;s dominance.
Tunguz had criticized the U.S. tech industry&#8217;s historical anti-immigrant biases, arguing they led Morris Chang to establish Taiwan Semiconductor in Taiwan rather than the U.S.
Taiwan Semiconductor plays a critical role in global chip production, holding a 64.9% market share in the third quarter of 2024, Focus Taiwan cites TrendForce.
Musk&#8217;s recent praise contrasts with his earlier comments on Taiwan&#8217;s geopolitical status. In 2022, he suggested Taiwan could be designated a &#8220;special administrative zone&#8221; to ease tensions with China, likening Taiwan&#8217;s relationship with China to Hawaii&#8217;s ties with the U.S.
Donald Trump has also voiced concerns over <a target="_blank" href="https://www.benzinga.com/news/24/11/41780976/chip-stocks-like-nvidia-broadcom-taiwan-semi-gain-after-trump-win-whats-going-on" rel="noreferrer noopener">trading with Taiwan</a>. Previously, Trump expressed concerns about trade with Taiwan, accusing the country of undermining the U.S. chip industry.
He criticized the CHIPS Act and vowed to impose tariffs on Taiwanese chips if elected. Trump questioned the U.S. defense position with Taiwan, citing the absence of a formal treaty, and opposed federal CHIPS Act funding for foreign companies like Taiwan Semiconductor.
Taiwan Semiconductor stock surged over 101% in the last 12 months.
Investors can gain exposure to the semiconductor stocks through VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>).
Price Action: TSM stock is up 0.92% to $203.43 premarket at the last check on Friday.
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</ul>
Image via Shutterstock

TSLA

What's Going On With Taiwan Semiconductor Stock On Friday?

<a target="_blank" href="https://www.benzinga.com/topic/taiwan" rel="noreferrer noopener">Contract chipmaker</a> Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) plans to build its fourth and fifth <a target="_blank" href="https://www.benzinga.com/24/12/42699969/taiwan-semiconductor-expands-in-taiwan-five-new-factories-aim-to-strengthen-chipmaking-industry" rel="noreferrer noopener">wafer fabs in Kaohsiung</a> in 2025, accommodating advanced processes.
The two facilities, P4 and P5, are part of Taiwan Semiconductor&#8217;s program, which targets building five fabs in Kaohsiung, according to a Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/biz/archives/2024/12/30/2003829322" rel="noreferrer noopener">report</a>.
On Thursday, Taiwan Semiconductor Vice President Arthur Chuang told the TT that the five facilities could add 8,000 jobs.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42709635/super-micro-and-nvidia-expand-in-taiwan-with-green-energy-and-ai-projects" rel="noreferrer noopener">Super Micro and Nvidia Expand in Taiwan with Green Energy and AI Projects</a>
The P4 and P5 fabs would be located next to the third fab, P3, and their construction will likely finish in 2027. Taiwan Semiconductor said its first fab in Kaohsiung, P1, will begin commercializing the advanced 2-nm process in 2025.
The 2-nm process would be faster than N3E, an updated variant of the 3-nm process, with higher density and lower power consumption.
The second fab, P2, would likely be completed in 2025. It would also use the 2-nm process, while construction of the third fab will likely finish in 2026.
At an investor conference, Taiwan Semiconductor Chair C.C. Wei flagged higher interest in its 2-nm process than the 3-nm process, prompting it to ramp in 2-nm production capacity.
Taiwan Semiconductor already has a 2-nm wafer plant in Baoshan, Hsinchu County, which will likely start commercialization in 2025.
The chipmaker&#8217;s commercialization of the A16 process is scheduled for the first half of 2026.
Despite intensifying geopolitical tensions, Taiwan Semiconductor remains committed to maintaining its advanced semiconductor technologies in its home country.
In September, President Joe Biden authorized <a target="_blank" href="https://www.benzinga.com/24/12/42709635/super-micro-and-nvidia-expand-in-taiwan-with-green-energy-and-ai-projects" rel="noreferrer noopener">$567 million in</a> defense aid for Taiwan, enhancing its military strength amid growing tensions with China. The U.S. also approved a $228 million military sale to bolster Taiwan&#8217;s aircraft combat capabilities.
On Friday, Taiwan&#8217;s science ministry warned that funding for semiconductors and AI could be hit by 20 billion New Taiwan dollars ($609.11 million) for 2025 after opposition parties pitched for laws to slash economic and technology spending, Reuters reports.
The Ministry of Economic Affairs on Tuesday flagged repercussions on Taiwan&#8217;s collaboration with Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which are also key Taiwan Semiconductor clients.
Investors can gain exposure to the semiconductor stocks through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: TSM stock is down 0.96% to $199.70 premarket at the last check on Monday.
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Image via Shutterstock

Emerging Markets

Taiwan Semiconductor's Kaohsiung Expansion To Boost 2-nm Chip Production

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;stock slid in the premarket Monday after a Chinese regulator said it was investigating the chipmaker over a possible breach of the country&#8217;s antitrust regulations.
The State Administration for Market Regulation alleged the chip designer violated its obligations while acquiring Mellanox Technologies, Reuters reports. Previously, Nvidia&#8217;s potential acquisition of Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) succumbed to global regulatory opposition.
Also Read: <a href="https://www.benzinga.com/24/12/42385349/chinese-social-media-company-hello-group-gains-after-q3-print-ceo-flags-overseas-growth" target="_blank" rel="noreferrer noopener">Chinese Social Media Company Hello Group Gains After Q3 Print, CEO Flags Overseas Growth</a>
Nvidia&#8217;s <a href="https://www.benzinga.com/government/24/11/41685490/nvidias-run-ai-acquisition-draws-european-regulatory-scrutiny-on-competition-concerns">offer to acquire</a> Run:ai has drawn regulatory attention from&nbsp;the European Commission. 
In 2024, U.S. antitrust authorities scrutinized Nvidia over possible influence within the artificial intelligence chip sector. The Justice Department sought Nvidia&#8217;s contract and partnership details. Additionally, the Federal Trade Commission (FTC) is reviewing investments by major technology firms.
The U.S. and China remained embroiled in geopolitical tensions as the Biden administration. imposed semiconductor sanctions on China, thereby restricting the country&#8217;s access to advanced artificial technology chips and GPUs of Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and Nvidia.
Reportedly, Nvidia could earn&nbsp;$12 billion in sales&nbsp;from 1 million H20 GPUs in <a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides" rel="noreferrer noopener">China in 2024</a>.&nbsp;
Last week, the U.S. launched its third semiconductor sanction on China, which focused on the export of advanced chips and chipmaking equipment to China. China retaliated by&nbsp;<a target="_blank" href="https://www.benzinga.com/government/regulations/24/12/42344223/struggling-chipmaker-microchip-hits-pause-on-biden-semiconductor-subsidy" rel="noreferrer noopener">exercising tighter controls</a>&nbsp;on the export of critical minerals used in&nbsp;advanced chip manufacturing.
Since his campaign days, President-elect Donald Trump has threatened to slap tariffs on exports to China of <a target="_blank" href="https://www.benzinga.com/government/24/11/41806635/whats-going-on-with-us-listed-chinese-stocks-like-alibaba-jd-nio-on-thursday" rel="noreferrer noopener">up to 60%</a>, prompting China to launch fiscal stimulus to drive the economy and protect itself from the tariffs. The tariffs could reduce Chinese exports to the U.S. by about $200 billion and affect China&#8217;s GDP.
Trump&#8217;s threats to launch a <a target="_blank" href="https://www.benzinga.com/24/11/42216863/nvidia-intel-suppliers-rethink-mexico-operations-amid-trumps-tariff-threat" rel="noreferrer noopener">25% tariff on</a> Mexican imports prompted Nvidia and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) suppliers to reconsider Mexico operations.
Nvidia stock surged 196% year-to-date. Investors can gain exposure to the stock through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and EA Series Trust Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action: NVDA stock is down 1.85% at $139.86 at last check Monday.
Also Read:
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<li><a href="https://www.benzinga.com/government/regulations/24/12/42347647/nvidia-partners-with-vietnam-government-to-develop-advanced-ai-and-more" target="_blank" rel="noreferrer noopener">Nvidia Partners With Vietnam Government To Develop Advanced AI And More</a></li>
</ul>
Photo by William Potter on Shutterstock

Movers

Nvidia Hit With Antitrust Probe in China, Stock Slides

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)&nbsp;and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;are exploring production of the front-end process of Blackwell artificial intelligence chips at the former Arizona plant, Reuters cites familiar sources.
Taiwan Semiconductor has so far manufactured Nvidia's Blackwell chips in its Taiwan facilities, where its chip-on-wafer-on-substrate (CoWoS) capacity exists.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42296590/zjk-industrial-surges-after-nvidia-ai-server-deal" rel="noreferrer noopener">ZJK Industrial Surges On Nvidia Liquid Cooling Collaboration (UPDATED)</a>
Therefore, it must ship the Blackwell chips back to Taiwan for packaging, which renders Nvidia vulnerable to U.S. geopolitical tensions with China.
For context, China continued threats and military <a target="_blank" href="https://www.benzinga.com/government/24/07/39857131/ai-chip-stocks-nvidia-amd-taiwan-semi-saw-a-selloff-this-week-whats-going-on" rel="noreferrer noopener">exercises around Taiwan</a>. Meanwhile, most of Taiwan Semiconductor's production capacity is based in Taiwan.
The key Nvidia supplier targets mass production of the Blackwell chips in early 2025.
Taiwan Semiconductor's current Arizona plant customers reportedly include Apple&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Earlier this week, Amazon.Com Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) cloud unit claimed that it could <a target="_blank" href="https://www.benzinga.com/markets/24/12/42325881/amazon-takes-on-nvidia-with-cheaper-ai-supercomputers-servers" rel="noreferrer noopener">connect more chips</a> than Nvidia and could train some AI models at a 40% discount to Nvidia chips.
Amazon Web Services showcased its data center servers embedded with its AI&nbsp;chips, dubbed Trn2 UltraServers. These servers target&nbsp;Nvidia's flagship server, which is packed with the latest Blackwell chips.
Amazon also disclosed that it is building artificial intelligence&nbsp;supercomputers in collaboration with Anthropic, which will feature Amazon's latest AI training chip, Trainium 2. Previous reports claimed Nvidia's production challenges of Blackwell chips hampered AWS' data center plans.
Despite production challenges, Oppenheimer&nbsp;analyst Rick Schafer&nbsp;projected <a target="_blank" href="https://www.benzinga.com/24/11/42005107/nvidia-set-for-gains-from-ai-cloud-demand-blackwell-launch-and-data-center-expansion-analyst-notes" rel="noreferrer noopener">several billion dollars</a> in revenue from Blackwell for the January quarter. He noted investors are modeling between 5 and 6 million Blackwell GPUs in 2025.
Nvidia stock has surged over 201% year-to-date. Taiwan Semiconductor stock gained 98%.
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and EA Series Trust Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Actions:&nbsp;NVDA stock traded lower by 0.02% at $145.10 premarket at the last check on Thursday. TSM is up 0.37%.
Also Read:
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<li><a href="https://www.benzinga.com/24/12/42289269/taiwan-semiconductor-supplier-asml-remains-unscathed-from-bidens-latest-semiconductor-embargo-on-china" target="_blank" rel="noreferrer noopener">Taiwan Semi Supplier ASML Reiterates Outlook As Biden's Latest Semiconductor Embargo On China Kicks In</a></li>
</ul>
Photo courtesy of Nvidia

Nvidia Could Become Taiwan Semi's Third US Plant Customer, But With A Catch

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) showcased a groundbreaking generative AI <a target="_blank" href="https://blogs.nvidia.com/blog/fugatto-gen-ai-sound-model/" rel="noreferrer noopener">model </a>named Fugatto. This model is designed as a versatile tool for creating and modifying sounds using text and audio prompts. Fugatto can generate and transform a mix of music, voices, and soundscapes, offering unprecedented capabilities to musicians, developers, and content creators.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/11/42139806/echostar-shares-sink-as-directv-terminates-acquisition-agreement" rel="noreferrer noopener">EchoStar Shares Sink As DirecTV Terminates Acquisition Agreement</a>
Fugatto, short for Foundational Generative Audio Transformer Opus 1, supports multiple tasks, such as generating new music, altering accents or emotions in voices, and crafting entirely novel soundscapes. These features mark a significant leap in audio AI innovation.
Fugatto empowers users to create audio that combines various instructions and prompts. For example, it can produce a trumpet sound mimicking a barking dog or generate a voice with a specific accent and tone.
Beyond music, Fugatto opens possibilities for advertising, education, and gaming. Advertisers can adjust campaign voiceovers for regional audiences, while educators can personalize content with voices familiar to learners. Game developers can modify audio assets or generate them dynamically based on gameplay.
Fugatto, powered by a 2.5-billion-parameter generative transformer, was trained on Nvidia DGX systems with 32 H100 Tensor Core GPUs. Its development involved a diverse team spanning several countries, which enhanced its multilingual and multi-accent capabilities. The model&#8217;s training relied on millions of audio samples, carefully curated to enable complex and diverse tasks.
Fugatto&#8217;s debut signifies a milestone in generative AI, promising to reshape how professionals interact with sound.
The model enables users to combine attributes like accent, tone, and emotion into one cohesive sound. For instance, it can create a dynamic soundscape transitioning from a thunderstorm to a tranquil dawn.
Nvidia stock surged 186% year-to-date.
Last week, Nvidia reported a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam" rel="noreferrer noopener">third-quarter revenue</a> of $35.1 billion, up 94%, beating the consensus estimate of $33.12 billion.
The company reported EPS of 81 cents, which beat the Street consensus estimate of 75 cents. Nvidia expects fourth-quarter revenue to be $37.5 billion plus or minus 2%.
Analysts highlighted Nvidia&#8217;s leadership in AI and data center technologies, with robust demand for its Blackwell and Hopper <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42119226/nvidia-analysts-see-stock-best-positioned-in-ai-not-worried-about-guidance-all-systems-go-for-blackwell-ramp" rel="noreferrer noopener">product lines driving growth through 2025.</a>
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and EA Series Trust Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action: NVDA stock is down 2.7% at $138.12 at last check Monday.
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<li><a href="https://www.benzinga.com/24/11/42137930/boeing-secures-238-billion-deal-for-advanced-kc-46a-tankers" target="_blank" rel="noreferrer noopener">Boeing Secures $2.38 Billion US Air Force Deal for Advanced KC-46A Tankers</a></li>
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Photo via Shutterstock.

Nvidia Unveils Fugatto: AI Tool That Transforms Sound Creation For Music, Ads, And Gaming

As Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit all-time highs with 234.09% returns in the past year, several exchange-traded funds (ETFs) associated with the Jensen Huang-led chip giant have also demonstrated remarkable growth during the same time frame, reflecting the company&#8217;s significant market influence.
What Happened: According to <a href="https://www.vaneck.com/us/en/investments/semiconductor-etf-smh/holdings/">Benzinga Pro</a>, the GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) being entirely invested in Nvidia, saw a remarkable increase of 479.94%.
Meanwhile, ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>), which has a 53.92% stake in Nvidia, climbed by 290.18%.
The Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) with an 8.15% holding in Nvidia surged by 111.65%, while the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rose by 50.49%, holding 9.69% in Nvidia. The Strive US Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>) which maintains a 26.04% Nvidia holding, increased by 51.19%.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41348553/jay-z-praised-by-warren-buffett-as-the-guy-to-learn-from-once-said-he-wasnt-taught-emotiona?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jay-Z, Praised by Warren Buffett as &#8216;The Guy to Learn From,&#8217; Once Said He Wasn&#8217;t Taught Emotional Intelligence, But How To Survive — The Rap Legend&#8217;s Growth Has Made Him Not Just A Better Person, But Also Worth $2.5B Today</a>
The Simplify Volt RoboCar Disruption (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCAR#NYSE">VCAR</a>) gained 34.66%, with 22.83% invested in Nvidia. Lastly, the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) rose by 76.50%, holding 22.69% in Nvidia.
Why It Matters: The impressive performance of Nvidia-linked ETFs can be attributed to the company&#8217;s strong market position and the increasing demand for its products. Recently, <a href="https://www.benzinga.com/news/24/10/41437976/nvidia-stock-hits-all-time-high-ahead-of-big-tech-earnings-whats-going-on">Nvidia&#8217;s stock reached an all-time high</a>, driven by the surge in artificial intelligence demand. Since the beginning of the year, Nvidia shares have risen over 186%, showcasing the company&#8217;s significant growth trajectory.
Furthermore, <a href="https://www.benzinga.com/government/24/10/41462536/nvidia-accelerates-global-growth-eyes-ai-chip-development-in-india-and-expansion-in-thailand">Nvidia is expanding globally</a>, with plans to develop AI chips in India and expand in Thailand. This strategic expansion aims to bolster domestic semiconductor supply chains, further solidifying Nvidia&#8217;s market dominance.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin On The Rise As &#8216;Uptober&#8217; May Be Finally Here: Analysts Predict Bullish Breakout For King Crypto, ETH&#8217;s Rally To $3,300</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

SOXL

Simplify Volt RoboCar Disruption and Tech ETF

VCAR

While Nvidia Shares Are Hitting All-Time High With Over 230% Return In The Past Year, Some ETFs Linked To Jensen Huang's Chip Giant Have Surged By Almost 500%: Here's More

Nvidia&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recently made significant product launches amid a <a target="_blank" href="https://www.benzinga.com/news/24/10/41119735/nvidia-faces-new-competition-cerebras-files-for-ipo-huawei-pushes-ai-chips" rel="noreferrer noopener">volatile run as </a>the Street factors in the company&#8217;s customer concentration and delays in product releases like its&nbsp;Blackwell GPUs.
The chip designer launched an open-source artificial intelligence model, intensifying rivalry with Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) backed ChatGPT parent OpenAI and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Venture Beat <a target="_blank" href="https://venturebeat.com/ai/nvidia-just-dropped-a-bombshell-its-new-ai-model-is-open-massive-and-ready-to-rival-gpt-4/" rel="noreferrer noopener">reports</a>.
Nvidia&#8217;s new&nbsp;NVLM 1.0&nbsp;family of large multimodal language models also enhances text-only capabilities in addition to vision and language tasks.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/10/41127863/despite-nvidia-selloff-bidens-law-and-taiwan-semis-advantage-offer-growth-potential" rel="noreferrer noopener">Despite Nvidia Selloff, Biden&#8217;s Law and Taiwan Semi&#8217;s Advantage Offer Growth Potential</a>
Nvidia also launched its new Unreal Engine 5 on-device plugins for&nbsp;Nvidia Ace at&nbsp;Unreal Fest Seattle 2024, helping build and deploy AI-powered MetaHuman characters on Windows PCs, Venture Beat <a target="_blank" href="https://venturebeat.com/ai/nvidia-releases-plugins-to-improve-digital-human-realism-on-unreal-engine-5/" rel="noreferrer noopener">reports</a>.
Developers can now access a new Audio2Face-3D plugin for AI-powered facial animations in Autodesk, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>)
Maya.&nbsp;
Nvidia stock lost over 4% in the last five days since China retaliated against U.S. artificial intelligence technology sanctions by urging its companies to reach out to domestic chipmakers instead of Nvidia. Huawei Technologies has started tapping Nvidia&#8217;s Chinese hyperscalar customers by offering them Ascend 910C processor samples.
Nvidia stock has risen over 161% in the last 12 months as US hyperscalars continue to drive up demand for its AI chips.
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: NVDA stock is down 0.62% at $116.27 premarket at last check Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/09/40980388/amd-chief-predicts-custom-chips-will-outperform-gpus-sees-shift-in-ai-chip-demand-report" target="_blank" rel="noreferrer noopener">AMD Chief Predicts Custom Chips Will Outperform GPUs, Sees Shift in AI Chip Demand: Report</a></li>
</ul>
Image via Shutterstock

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