The Direxion Daily Semiconductor Bull 3X Shares (SOXL) shares dropped steeply on Monday as investors trimmed positions from chip-related ETFs. Cause: rising anxiety over whether big tech companies can keep delivering returns from money flooded into AI projects. Chip makers edge[d] toward a bear market after months of gains carried by AI chip demand. Analysts say plenty of dollars is going into AI capabilities while spending cools. SOXL, which tracks near 30 semiconductor firms, shed points as the wider sector lost more than 3% from Friday's close.