The Financial Post reports in its Wednesday, Nov. 27, edition that there has been a shift among tech investors: Software stocks are rising while semiconductor stocks are declining. A Bloomberg dispatch to the Post reports that Wall Street is moving away from chips due to high valuations and trade war concerns under the president-elect. In contrast, software is gaining momentum, benefiting from lower tariff risks and a transition in artificial intelligence focus from infrastructure to services. Glenview Trust's Bill Stone says, "Software got left behind, but looks to be the next winner from AI, while it could also benefit if the new administration is more lenient on regulation and M&A." He says on the flip side, "there's so much good news in chips, especially AI chips, that the valuation has gotten steep at a time when there's more uncertainty." Earnings reports show a sentiment shift: Snowflake shares surged on a strong forecast, and Palantir Technologies had a blowout report driven by AI demand. However, even solid results from Nvidia could not excite investors. So far in November, a major exchange traded fund that tracks software is up 16 per cent, putting it on track for its biggest one-month gain in a year.