Chip Stocks Shed $1T; Leveraged ETF SOXL Draws Record Inflows

The striking detail is the divergence between price action and flow direction: a trillion-dollar drawdown in chip equities is being met with record demand for leveraged exposure, not de-risking. SOXL's inflows landing in the same week its value fell roughly a fifth suggests dip-buying behavior is concentrating in the most amplified instrument available, which matters for anyone tracking semiconductor beta as a proxy for broader risk appetite. The open question is whether this is durable accumulation or a mechanical rebalancing artifact, and whether the flow streak in SMH extends beyond the current week.