The semiconductor rally has gone from hot to overheated. Chip-stocks-tracking VanEck Semiconductor ETF (NASDAQ:SMH) is now stretched far above its 200-day moving average — the widest gap since July 2024, right before chip stocks cratered 30% in a matter of weeks.Track SMH ETF here.Chart created using Benzinga ProDeja Vu For AI BullsBack then, the euphoria was also AI-fueled — Nvidia Corp (NASDAQ:NVDA) was breaking records, and every chipmaker was suddenly a "picks-and-shovels" play on artificial intelligenc ...