The AI gold rush has ripped through the semiconductor industry, but not everyone is reaping the rewards. While the VanEck Semiconductor ETF has risen 42.6% so far this year, the fund has become a tale of two types of chipmakers. On one side, Nvidia’s 189.5% YTD surge, fetching a $3.4T market cap, while other semi firms have struggled to stay relevant — showing how billionaires are minted and fortunes are lost in this polarized sector.
- Beyond Nvidia’s market-leading performance, Broadcom joined the trillion-dollar club, while Taiwan Semiconductor, Marvell Technology, and ARM shot up 104.3%, 95.9%, and 83.8% this year, respectively.
- Meanwhile, legacy x86 chipmakers like Intel and AMD plummeted 57.8% and 10%, respectively — with the former cut from the Dow Jones index after frequenting worst-performer lists.
Chip Icarus: Despite clear winners and losers, some once-high-flyers have crashed back to earth. Super Micro, once a top performer, tumbled amid accounting controversies, while ON Semiconductor and Microchip Technology plunged after struggling to capitalize on AI momentum. ASML also fumbled its would-be 50% gain this year after over-extending itself on withering sales in China. As the high-stakes race for semiconductor supremacy continues, not everyone will make it to the finish line.
