# Opinion: Analyst says AI selloff could ease with lower oil, dollar and Anthropic IPO

Digest AI · Business & Funding · published 2026-10-18T09:53:00Z

Canonical: https://digestai.news/story/opinion-analyst-says-ai-selloff-could-ease-with-lower-oil-dollar-and-a

## Summary

The VanEck Semiconductor ETF (SMH) dropped 10% as investors moved money from AI and technology stocks into sectors seen as more reflationary. The analyst attributes the sell‑off to tightening liquidity and broader macro headwinds. To stay disciplined, the author trimmed cash exposure from 18% to 13% and selectively added to high‑conviction AI names while taking profits in software holdings.

Recovery, the analyst argues, hinges on several factors: a decline in oil prices, a weaker U.S. dollar, confirmation of hyperscaler capital spending, stabilization of the emerging "neocloud" market, and a successful initial public offering by Anthropic. The plan is to deploy the remaining cash at key SMH support levels or raise cash on any rebound, treating the current volatility as a buying opportunity rather than a breakdown of the thesis.

The author discloses long positions in AMD, Anthropic, CRWD, PLTR and VRT, and notes that the commentary reflects personal opinions without compensation beyond the Seeking Alpha platform.

## Key points

- VanEck Semiconductor ETF (SMH) fell 10% as investors rotated from AI/tech to reflationary sectors.
- Analyst reduced cash allocation from 18% to 13% and added to select AI stocks while booking software profits.
- Recovery outlook depends on lower oil, weaker dollar, hyperscaler capex, neocloud stability, and an Anthropic IPO.

## Why it matters

Investor sentiment toward AI stocks is tied to macro trends and the upcoming Anthropic IPO, influencing funding and market valuations.

## Sources

1. [What Would Stop The AI Selloff](https://seekingalpha.com/article/4955104-what-would-stop-the-ai-selloff) (seekingalpha.com, 2026-10-18)

Part of the developing story: [AI Debt Fears Trigger Market Alarm](https://digestai.news/thread/tesla-stock-slips-amid-ai-concerns) (8 stories)

## Cite

Digest AI, "Opinion: Analyst says AI selloff could ease with lower oil, dollar and Anthropic IPO", 18 October 2026, https://digestai.news/story/opinion-analyst-says-ai-selloff-could-ease-with-lower-oil-dollar-and-a

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