SMH is trading 2% up today as NVIDIA’s $12.93 billion acquisition of Hugging Face reinforces optimism that AI infrastructure demand will expand beyond chips into software and model deployment.
- The transaction could strengthen NVIDIA’s ecosystem and lift major semiconductor holdings broadly.
- Nasdaq strength is providing additional support.
- Investors remain focused on the September 4 employment report and its implications for Federal Reserve policy; Broadcom weakness is partially offsetting the sector-wide advance.