SMH is trading at $474.84, up 5.93%, as chip stocks rebound after Thursday’s severe AI-driven selloff. - The semiconductor index had fallen sharply amid worries that tighter AI and data-center rules could slow infrastructure growth. - Nvidia, AMD and Micron led the premarket recovery, while concerns about Qualcomm’s weak handset outlook and AI spending remain. - The move appears to be a partial recovery from prior-session losses, not evidence that regulatory or demand concerns have gone away.