- During 2026, big investors have favored AI infrastructure and memory chip stocks over BTC.
- VanEck Semiconductor ETF has fallen 12%, while the Roundhill Memory ETF is down 25%.
- BTC recorded gains of roughly 5% in the last 7 days and is closing in on $62,000.
AI‑linked memory and semiconductor stocks, which had been leading the market, started to lose momentum on July 3. Meanwhile, Bitcoin bounced back, hinting that capital may be beginning to flow back into crypto again.
For most of 2026, big investors have largely favored AI infrastructure and memory chip stocks over Bitcoin. Companies making high‑bandwidth memory, AI chips, chip‑making gear, and advanced storage chips have all been riding a wave of demand from hyperscalers building out AI data centers.
Due to this, several companies, including Micron Technology and Sandisk, were huge winners. Micron surged 230% and topped $1 trillion in market cap, while Sandisk’s shares skyrocketed by more than 530%.
Additionally, the PHLX Semiconductor Index was up 85% over the last several months. It tracks the performance of the 30 biggest US‑listed semiconductor companies and represents a key benchmark for the chip industry.
Semiconductor Stock Pullback
Recently, there have been signs of a slowdown. For instance, the VanEck Semiconductor ETF has fallen 12%, while the Roundhill Memory ETF is down about 25% from its June 22 peak.
AI stocks came under more pressure on July 1 after it was reported that Meta is setting up a new business unit, Meta Compute, to sell its extra GPU computing power to other companies. This hit the companies that have been riding the AI compute wave, especially neocloud providers that rent out GPU power to AI developers. The likes of IREN and Cipher Digital have dropped 20% or more from their peaks.
At the same time, on July 1, Bitcoin briefly dropped under $58,000 but has since bounced back above $61,000 and is closing on $62,000. In fact, BTC recorded gains of roughly 5% in the last 7 days, according to CoinMarketCap.
It’s not only Bitcoin either, since other notable cryptocurrencies like Ethereum, Solana, XRP, Chainlink, and Stellar recorded around 10% gains in the last 7 days.
Still, this doesn’t necessarily mean investors are suddenly going all‑in on crypto. The recent semiconductor stock drop could simply indicate that some funds are taking profits on AI stocks and shifting capital into assets that haven’t grown as much yet. However, it’s definitely a potentially good sign for cryptocurrencies.
Related: Chip Stocks Hit Record 18.8% Share of S&P 500 Value
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