iShares Semiconductor ETF Falls to Bear-Market Territory as AI Capex Fears Hammer Nasdaq

The iShares Semiconductor ETF closed Friday 29% below its recent high, officially bear-market territory, as the Global X AI & Technology ETF slid 4% for the week and sits 15% off its summer peak. Intel fell 25% on weak guidance, Micron 5.5%, Nvidia 4% and Amazon 2%, while Google — after its worst-ever day Thursday — slipped a further 1%. Analysts cited Anthropic's S-1 showing decelerating growth and reduced capex guidance from Microsoft and Alphabet as proof investors want AI profits before more spending.