---
title: "Weekly Recap | CHPS.US -3.22%, AI spending fears drive the sell-off"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/302941223.md"
description: "CHPS.US fell 3.22% this week to close at $75.279. The S&P 500 lost 0.47%, leaving the ETF about 2.75 percentage points behind. The week traced out a rise-and-fade: it opened Monday at $80.82, the week’s high and its only spell above $80, then slid lower day by day. Thursday’s low of $74.6 marked the weakest point, and Friday spent the session in a narrow $74.87 to $76.13 range before settling at $75.279. The weekly range was 7."
datetime: "2026-10-24T04:17:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/302941223.md)
  - [en](https://longbridge.com/en/news/302941223.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/302941223.md)
generator: "portal-rs"
---

# Weekly Recap | CHPS.US -3.22%, AI spending fears drive the sell-off

## The Week

CHPS.US fell 3.22% this week to close at $75.279. The S&P 500 lost 0.47%, leaving the ETF about 2.75 percentage points behind. The week traced out a rise-and-fade: it opened Monday at $80.82, the week’s high and its only spell above $80, then slid lower day by day. Thursday’s low of $74.6 marked the weakest point, and Friday spent the session in a narrow $74.87 to $76.13 range before settling at $75.279. The weekly range was 7.7%, with volume concentrated on Thursday’s sell-off and thinning out on Friday.

## Sector News

The dominant theme this week was AI spending anxiety. A tech sell-off led by Meta and Nvidia accelerated on Thursday, with steep one-day drops in AMD, Intel, Marvell and Micron, and put options across those names surging several-fold to more than 1,000% intraday. Texas Instruments reported Q3 results: revenue of $6.06 billion, net income of $2.41 billion and EPS of $2.62. Rosenblatt, Stifel and Freedom Broker maintained or lifted buy ratings, with Stifel at $370 and Rosenblatt at $360. Japan’s Nikkei fell sharply on Friday as the Wall Street tech rout spilled into Asian trading.

## The Week Ahead

The coming week opens a key AI earnings window, with more major AI plays due to report. On 26 October, the Dallas Fed manufacturing business activity index lands, with a prior reading of 9.8. On 27 October, durable goods orders, FHFA house prices, Case Shiller 20-city home prices, new home sales, the Richmond Fed composite index and consumer confidence are all due; durable goods orders have a prior of -0.1 against a 1.5 forecast, and consumer confidence a prior of 81.9 against a consensus of 81. These will shape expectations for semiconductor downstream demand.

## In Short

The week’s tension sits between broker views that remain constructive on chip names such as Texas Instruments and Micron, and a market mood weighed down by AI spending fears that triggered a broad-based tech sell-off. The latest daily flows point to mixed positioning, with net buying by medium and small orders against net selling by small orders. CHPS.US finished the week below its 20-day moving average, with the 60-day line near $84.659 still some distance away. The next test is whether next week’s AI earnings turn this pullback into a one-off flush or a deeper repricing.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**