The Tech Download: Chip stocks surge in ‘historic’ month as investors’ AI buildout concerns ease

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After a month or so in the doldrums as investors rode a wave of anxiety about the AI buildout, chip stocks have hit a real purple patch again in April.

In March, Nasdaq’s PHLX Semiconductor Sector Index — comprising the 30 largest U.S.-traded chip companies — saw a 6.3% decrease. Last month, the narrative reversed, with the index soaring 35.2% since the start of April as of market close Wednesday as investors ploughed into the sector.