Meta · Semiconductor · Bitcoin · CoinDesk
Memory and semiconductor stocks lose momentum, bitcoin rebounds in sign of changing investor focus
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The standout equity winners this year have been memory and semiconductor stocks, which are crucial to the AI industry and have sidelined much of the crypto industry as investors sought to get a look-in on the hottest new trend.
Key facts
- The Roundhill Memory ETF has fallen roughly 25% from its June 22 record high, while VanEck Semiconductor ETF has dropped 12%
- The Roundhill Memory ETF (DRAM) more than doubled in the first half and the VanEck Semiconductor ETF (SMH) climbed 60%
- IREN (IREN), Cipher Digital (CIFR) and TerraWulf (WULF) have each fallen at least 20% from their all-time highs
- Micron Technology (MU), one of the world's largest producers of DRAM and high-bandwidth memory (HBM) chips, used to power AI infrastructure, has climbed more than 230%
Summary
Sandisk is up more than 530% and Micron over 230% in 2026, reflecting first-half demand for companies benefiting from growing demand for AI. Since then, the Roundhill Memory ETF (DRAM) has fallen 25% from its June peak, and the VanEck Semiconductor ETF (SMH) is down around 12%. As AI infrastructure stocks and computing providers sold off following Meta's reported push into selling excess GPU capacity, bitcoin rebounded from a two-year low, hinting at a potential shift in investor interest. The question now is whether that trend is beginning to reverse as the AI standard-bearers begin to lose momentum and bitcoin BTC $ 62,612.69 rebounds from its lowest level in almost two years.