The VanEck Semiconductor ETF (SMH) surged near $644 on June 15, 2026, continuing a historic rally driven by accelerating demand for AI chips from major chipmakers and data center operators worldwide.
SMH has climbed 72% year-to-date through mid-June, according to VanEck and Yahoo Finance, building on a 49% gain in 2025 as the semiconductor sector became the primary beneficiary of the artificial intelligence buildout.
The ETF’s strength reflects exceptional growth at its largest holdings. NVIDIA, which accounts for roughly 15% of SMH, reported fiscal 2026 revenue of $215.9 billion, up 65% year-over-year, according to TrendX Insights. Broadcom, a 6% position in the fund, reported Q2 AI semiconductor revenue of $10.8 billion, up 143% year-over-year, per Quartz. Micron Technology and Intel, each representing over 7% of SMH, have similarly benefited from surging memory and processor demand tied to AI infrastructure spending.
The broader semiconductor sector surged nearly 80% in 2026 through late May, according to fintech.tv, as investors rotated into hardware makers powering the AI boom. Deloitte forecast the global semiconductor industry would reach $975 billion in annual sales in 2026, a historic peak fueled by AI adoption.
Momentum and Recent Pullback
SMH soared 41% in May alone, according to MSN, before encountering profit-taking in early June. The ETF peaked at $644.67 in late May, per Robinhood data, then pulled back as investors reassessed valuations following Broadcom’s cautious fiscal 2027 guidance on June 4.
Despite the recent consolidation, the semiconductor rally has outpaced broader market gains. The iShares Semiconductor ETF (SOXX), a comparable benchmark, was up 47% year-to-date as of late April, per Yahoo Finance, though SMH’s global supply-chain exposure and focus on AI infrastructure have driven its stronger performance.
The 2026 semiconductor surge mirrors but exceeds the 2025 advance. When chipmaking stocks rallied to start 2026, the VanEck Semiconductor ETF had already posted a nearly 49% gain in the prior year, per CNBC, signaling that the AI infrastructure cycle was entering a new phase of acceleration rather than consolidation.
Sources
- TradingView — SMH trading at $644.26 on June 15, 2026
- Stock Analysis — SMH opening at $643.50 and reaching $645.85 on June 15, 2026
- VanEck — YTD return of 72.02% as of June 12, 2026
- Yahoo Finance — YTD return of 72.15% and historical performance data
- TrendX Insights — NVIDIA fiscal 2026 revenue of $215.9 billion, 65% YoY growth
- Quartz — Broadcom Q2 AI semiconductor revenue of $10.8 billion, up 143% YoY
- fintech.tv — Semiconductor index surge of nearly 80% in 2026 through May 28
- Deloitte — Global semiconductor industry forecast of $975 billion in 2026
- MSN — SMH surge of 41% in May 2026
- Robinhood — SMH peak of $644.67 in May 2026
- CNBC — SMH 49% rally in 2025; VanEck Semiconductor ETF 4% gain to start 2026
