Retail traders are moving to diversify their artificial intelligence-related equity positions across the semiconductor value chain, according to data released by online broker Webull (NASDAQ: BULL). In an exclusive interview, Webull's group president and U.S. chief executive, Anthony Denier, described an observable expansion of investor interest beyond the industry's largest chipmakers.
Denier said the platform, which yesterday unveiled Vega Analyst, its new artificial intelligence-powered research tool, is experiencing the strongest equities growth in AI infrastructure and semiconductor-adjacent names. These areas are being followed by integrated device manufacturers and by companies focused on memory and storage, he added.
Broader positioning across the ecosystem
"The activity we’re seeing across these areas reinforces that investors are expanding exposure beyond the largest chipmakers and positioning across the broader AI supply chain," Denier said. He noted that engagement is not limited to the firms most commonly associated with AI chips, but extends into supporting segments.
Beyond those core areas, Denier identified increased investor interaction with data center REITs and operators, as well as with semiconductor packaging and outsourced assembly and testing companies. He characterized this pattern as evidence that investors are taking positions across the full AI and semiconductor ecosystem rather than concentrating only on headline chipmakers.
Changes in user holdings and behavior
Webull's data indicate a material shift in how many users hold semiconductor-related equities. "Approximately 9% of users now hold at least one share of a semiconductor or semiconductor-related stock, up from 3% two years ago, reflecting more sustained engagement with the theme," Denier said.
He also observed that semiconductor-related positions on the platform tend to be held for longer periods than investments in more event-driven sectors. Denier framed this as the market treating semiconductors as a long-term structural theme tied to AI infrastructure buildout rather than as a short-term trade.
Options and derivatives activity
Options activity on Webull is evolving as well. Volumes are up 10% on the platform, according to Denier. He linked this to more tactical use of options around specific catalysts such as earnings reports and macroeconomic events, with the platform seeing a blend of both hedging and directional positioning.
"Investors are becoming more intentional in how they use derivatives, whether that means expressing views on volatility, adjusting directional exposure, or managing risk during periods of heightened market movement," Denier said.
Investor sophistication and research patterns
Addressing whether AI interest is fading, Denier rejected the notion of widespread fatigue. "Investors are moving from concentrated exposure in a small number of AI leaders to a broader, more diversified view of the ecosystem," he said. "That suggests the theme remains very much intact, but the way investors are expressing it is evolving rather than slowing."
Denier pointed to multiple indicators he interprets as rising sophistication among retail investors. These include diversification across the semiconductor ecosystem - with allocations spread across equipment, infrastructure, memory, and supporting industries rather than concentrated in a few large names - and a continuing "net buying bias over time, suggesting conviction rather than purely reactive trading." He also said retail investors are conducting multi-layered research across the AI value chain rather than focusing solely on headline-driven trades.
Taken together, the data and Denier's observations portray a retail market that is broadening its AI exposure into supporting technologies and infrastructure while incorporating derivatives as a tactical tool.