Why the iShares Semiconductor ETF (SOXX) Jumped 23% in May

The iShares Semiconductor ETF (SOXX) surged 23% in May driven by strong earnings reports, memory chip shortages expected through 2029, and growing demand for CPUs in AI inference. Top holdings Micron and AMD led gains, though a Broadcom earnings miss and concerns about Google diversifying away from custom chips caused a 6% pullback on Thursday.