The Direxion Daily Semiconductor Bull 3X Shares (SOXL) shares dropped steeply on Monday as investors moved capital from chip-related ETFs. Cause: mounting skepticism over whether big tech companies can maintain strong returns from money pumped into AI projects. Chip makers slipped into a bear market after months of gains lifted by AI chip demand. Analysts say plenty of dollars is going into AI capabilities while consumer spending slows. SOXL, which tracks some thirty semiconductor firms, dropped as the wider sector cut about 3.2% from Friday's close.