Beyond Nvidia: Why This Software ETF Is Capturing the Next Wave of AI Investments
Yahoo Finance ·
Nvidia has undeniably reigned as the premier champion of the artificial intelligence boom, yet the upcoming rotation in AI market dynamics may feature an entirely different sector. One prominent exchange-traded fund positioned for this shift is the iShares Expanded Tech-Software Sector ETF. Throughout much of 2026, hardware and semiconductor equities surged while software shares faced severe headwinds, leaving the software fund down over 14 percent by the end of June, contrasted with a staggering gain of more than 80 percent for the VanEck Semiconductor ETF. Nevertheless, market momentum shifted during the second half of 2026. This quarter, the iShares Expanded Tech-Software Sector ETF has rebounded by 15 percent, whereas the VanEck Semiconductor ETF experienced a 14 percent decline, signaling a notable trend reversal.
AI 시장 분석
In the second half of 2026, market leadership is shifting from AI infrastructure-centric semiconductors to the software sector. The iShares Expanded Tech-Software Sector ETF (IGV) rose 15% this quarter, while the VanEck Semiconductor ETF (SMH) fell 14%. Investors need to focus on software companies that will benefit from the moderation phase of AI development speed.
상승 영향
- Software — Driven by expectations of moderated AI development speed, capital is flowing from semiconductors to software, leading to anticipated earnings rebounds such as the IGV ETF rising 15% this quarter.
하락 영향
- Semiconductors — The semiconductor sector (SMH), which surged over 80% in the first half of 2026, is facing profit-taking pressure as it loses leadership in the second half, declining 14% this quarter.
DYAX 전담 분석
As the recent AI development boom has cooled down somewhat, the hardware-centric semiconductor sector is experiencing a slump, while the relatively neglected software sector is showing a rebound trend. In fact, while SMH surged over 80% and IGV fell 14% in the first half of 2026, a reversal has occurred in the second half, with IGV rising 15% and SMH falling 14%.
The key points to watch in the future are the pace of change in the AI investment cycle and whether software companies improve their earnings. If the pace of AI development slows down, further gains in software stocks are expected, but if infrastructure investment recovers, funds could flow back into semiconductors, so the fund inflow and outflow indicators of related ETFs must be closely monitored.
AI가 생성한 분석으로 투자 자문이 아닙니다.
DYAX Investor Sentiment
Bullish (Long) 57% · Bearish (Short) 43%
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