Updated

Semiconductor stocks, including Nvidia and Micron, showed volatility this week as large options or block trades signaled growing bearish positioning against the chip sector. The moves came even as a new report offered more optimistic clarity on OpenAI's financial position, a factor closely watched given its centrality to the AI trade. Investors are parsing mixed signals heading into earnings season, with some viewing the bearish chip trades as a sign of caution around lofty AI-driven valuations, even as underlying AI business fundamentals appear resilient.