SMH.L is trading at $89.74, down 3.04%, as investors feared election results could bring tighter AI and data-center rules, slowing infrastructure expansion and semiconductor demand.

  • Voters approved restrictions in multiple states, and Texas’s incoming governor backed a construction moratorium.
  • Chip stocks fell even as broader U.S. shares rallied after election uncertainty eased.
  • Weakness in Asian chip markets reinforced concerns about AI investment returns.