Memory and semiconductor stocks lose momentum, bitcoin rebounds in sign of changing investor focus
Key takeaways
- The question now is whether that trend is beginning to reverse as the AI standard-bearers begin to lose momentum and bitcoin BTC$61,887.48 rebounds from its lowest level in almost two years.
- Consider the performance of exchange-traded funds.
- Behind the AI-linked performance are companies like Sandisk (SNDK), which designs and manufactures the NAND flash memory used in products from AI servers to smartphones and data centers.
The question now is whether that trend is beginning to reverse as the AI standard-bearers begin to lose momentum and bitcoin BTC$61,887.48 rebounds from its lowest level in almost two years.
Consider the performance of exchange-traded funds. The Roundhill Memory ETF (DRAM) more than doubled in the first half and the VanEck Semiconductor ETF (SMH) climbed 60%. Both are tied closely to the demand for computing resources to support the AI industry. Then compare that with BlackRock's iShares Bitcoin Trust (IBIT), the largest bitcoin ETF, which has dropped 30%, in line with the largest cryptocurrency.
Behind the AI-linked performance are companies like Sandisk (SNDK), which designs and manufactures the NAND flash memory used in products from AI servers to smartphones and data centers. Its shares have surged more than 530% this year.