AI, Chips and ETFs Drive Divergence as Fed Calm Meets Sector-Specific Shocks

$GOOGL $ARM — Markets moved on sector-specific news today: a renewed AI arms race (Google–Anthropic, DeepSeek preview), a blistering semiconductor rally (SMH +30% month-to-date) and active ETF flows into space and international stocks — all against a backdrop of a likely Fed hold and a cleared political overhang for Chair Powell. The result is healthy momentum in technology and thematic plays, mixed earnings and valuation tension for more cyclical and income-focused names.