Semiconductor and semiconductor equipment stocks have reached a record 18% of the S&P 500's total market capitalization, according to Bloomberg data. This marks the largest weight for any single industry group in the index's history. The semiconductor index SOX has also surged to 85 points relative to the "Magnificent 7," its highest level since mid-2020. Since the start of 2025, the SOX index has climbed 159%, significantly outpacing the "Magnificent 7," which gained 30% in the same period.