From Nasdaq.: 2024-04-30 08:25:00

The AI investment fervor is back on Wall Street, fueled by strong quarterly performances from tech giants like Microsoft and Alphabet, as well as the successful IPO debut of Rubrik. AI ETFs like BOTZ, IRBO, ROBT, and WISE are in focus as the demand for AI solutions gains real traction.

Microsoft and Alphabet reported stellar quarterly results, showcasing the growing demand for AI services. Microsoft’s Azure division saw a 31% revenue jump, while Google’s cloud revenue surged 28% due to increased contributions from AI technologies. The strong performances of these tech titans are solid evidence of the AI boom.

Elon Musk referred to Tesla as an AI and Robotics company, emphasizing the importance of AI technology in the future of the auto industry. Samsung Electronics forecasts strong demand for AI, tightening the supply of high-end chips used in generative AI chipsets. Samsung plans to boost the supply of HBM-related chips in 2024, riding on the AI boom.

The upcoming earnings reports from tech giants like Amazon and Apple are highly anticipated, serving as critical tests for the AI tech trade amid soaring valuations. Investors are looking for opportunities to capitalize on the AI trend by considering AI-focused ETFs like BOTZ, IRBO, ROBT, and WISE, which have shown positive performance in the past week.



Read more at Nasdaq.: 4 ETFs to Tap the Renewed AI Craze on Wall Street