Chip index climbs 55% in 2026, raising concerns among fund managers about unsustainable AI valuations

Tech Surges as AI Rally Regathers Steam - Tech Roundup

Tech rallied 5% (SOX semiconductors) with SpaceX +13% post-IPO on passive index inclusion; Anthropic negotiating Trump export restrictions on AI models. Valuations fair vs dotcom-era parallels, but AI export policy risk emerging as material factor for enterprise architecture and supplier compliance strategies.