Weekly Commentary: Our Semiquincentennial Gilded Age

The Semiconductor Index surged 88% in Q2, underscoring strong momentum in chip-linked AI demand. Policymakers are increasingly focused on the AI arms race, with the BIS highlighting the issue in its 2026 Annual Report, which adds regulatory attention risk to the sector but is not yet a direct policy change.

Analysis

The Semiconductor Index surged 88% in Q2, underscoring strong momentum in chip-linked AI demand. Policymakers are increasingly focused on the AI arms race, with the BIS highlighting the issue in its 2026 Annual Report, which adds regulatory attention risk to the sector but is not yet a direct policy change.