🔴 SMHX is trading 3.47% down in pre-market amid doubts over AI spending returns

SMHX is trading at $54.00 (-3.47%) as semiconductor shares face pressure amid questions about returns from heavy AI infrastructure spending.

• The Nasdaq was down 1.81% and the S&P 500 1.05% in sharply lower pre-market trading, supporting a risk-off explanation.
• Asian chipmakers also weakened.
• No fresh SMHX-specific announcement was identified; prior-session AI optimism does not explain this morning’s move.