NVDA fell 2.5% in the first half hour of trading, and SOXX is actually green.


SOXX is up 0.6%. Broadcom, AMD, and TSMC are propping it up. XLK is down 1.36% just from NVDA dragging it. SPY barely moved.
Honestly, this isn’t a bad thing.
NVDA went from 236 down to 217 and recouped nearly 8%. SOXX is still around 618, not far from its high. The market is telling you one thing: the AI story is still going, but NVDA is no longer the only main character. Money is moving around within the semiconductor space.
In 2024, NVDA’s drop was equal to the whole market dropping with it. Today, when NVDA falls, SOXX still rises. NVDA’s beta is changing—from being the leading driver to becoming the one that gets bled as rotation happens. This process is worth watching.
NVDA2.71%
SOXX-1.15%
AVGOX-12.77%
AMD-2.67%
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