Philadelphia Semiconductor Index rises 81% in Q2, CJ Muse questions the sustainability of AI infrastructure investment

Philadelphia Semiconductor Index rose 81% in the second quarter, while Nasdaq-100 increased 25% and S&P 500 rose 14% in the same period. Cantor Fitzgerald Senior Managing Director and Technology Strategist CJ Muse stated that the six-month surge was driven by massive investments in AI infrastructure, but investors are beginning to question its sustainability. CJ Muse is mainly concerned about whether hyperscale data center operators can maintain and increase spending after 2026, but CJ Muse expects the investment boom will not end immediately.