For most of the session, Technology (XLK) was the only name higher. But what stands out most is Utilities (XLU), which had become an ancillary AI play and is the biggest declining sector.

That's because Nvidia's (NVDA) Blackwell chip/system is designed to use less energy and improve the carbon footprint of AI.

The rollout has been amazing which means the spike in electricity demand could be dampened, although there is no doubt it will still be significant. 

The issue for the market is where else to put money with NVDA and chips dominating the headlines.