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The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index is designed to measure the stock performance of U.S. companies in the semiconductors subsector. Component companies include, among others, those engaged in the production and distribution of semiconductors and other integrated chips, as well as other related products such as semiconductor capital equipment and motherboards. The Index is published under the Bloomberg ticker symbol DJUSSC.

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Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) showcased a groundbreaking generative AI <a target="_blank" href="https://blogs.nvidia.com/blog/fugatto-gen-ai-sound-model/" rel="noreferrer noopener">model </a>named Fugatto. This model is designed as a versatile tool for creating and modifying sounds using text and audio prompts. Fugatto can generate and transform a mix of music, voices, and soundscapes, offering unprecedented capabilities to musicians, developers, and content creators.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/11/42139806/echostar-shares-sink-as-directv-terminates-acquisition-agreement" rel="noreferrer noopener">EchoStar Shares Sink As DirecTV Terminates Acquisition Agreement</a>
Fugatto, short for Foundational Generative Audio Transformer Opus 1, supports multiple tasks, such as generating new music, altering accents or emotions in voices, and crafting entirely novel soundscapes. These features mark a significant leap in audio AI innovation.
Fugatto empowers users to create audio that combines various instructions and prompts. For example, it can produce a trumpet sound mimicking a barking dog or generate a voice with a specific accent and tone.
Beyond music, Fugatto opens possibilities for advertising, education, and gaming. Advertisers can adjust campaign voiceovers for regional audiences, while educators can personalize content with voices familiar to learners. Game developers can modify audio assets or generate them dynamically based on gameplay.
Fugatto, powered by a 2.5-billion-parameter generative transformer, was trained on Nvidia DGX systems with 32 H100 Tensor Core GPUs. Its development involved a diverse team spanning several countries, which enhanced its multilingual and multi-accent capabilities. The model&#8217;s training relied on millions of audio samples, carefully curated to enable complex and diverse tasks.
Fugatto&#8217;s debut signifies a milestone in generative AI, promising to reshape how professionals interact with sound.
The model enables users to combine attributes like accent, tone, and emotion into one cohesive sound. For instance, it can create a dynamic soundscape transitioning from a thunderstorm to a tranquil dawn.
Nvidia stock surged 186% year-to-date.
Last week, Nvidia reported a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam" rel="noreferrer noopener">third-quarter revenue</a> of $35.1 billion, up 94%, beating the consensus estimate of $33.12 billion.
The company reported EPS of 81 cents, which beat the Street consensus estimate of 75 cents. Nvidia expects fourth-quarter revenue to be $37.5 billion plus or minus 2%.
Analysts highlighted Nvidia&#8217;s leadership in AI and data center technologies, with robust demand for its Blackwell and Hopper <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42119226/nvidia-analysts-see-stock-best-positioned-in-ai-not-worried-about-guidance-all-systems-go-for-blackwell-ramp" rel="noreferrer noopener">product lines driving growth through 2025.</a>
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and EA Series Trust Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action: NVDA stock is down 2.7% at $138.12 at last check Monday.
Also Read:
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<li><a href="https://www.benzinga.com/24/11/42137930/boeing-secures-238-billion-deal-for-advanced-kc-46a-tankers" target="_blank" rel="noreferrer noopener">Boeing Secures $2.38 Billion US Air Force Deal for Advanced KC-46A Tankers</a></li>
</ul>
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SHOC

Nvidia Unveils Fugatto: AI Tool That Transforms Sound Creation For Music, Ads, And Gaming

As Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit all-time highs with 234.09% returns in the past year, several exchange-traded funds (ETFs) associated with the Jensen Huang-led chip giant have also demonstrated remarkable growth during the same time frame, reflecting the company&#8217;s significant market influence.
What Happened: According to <a href="https://www.vaneck.com/us/en/investments/semiconductor-etf-smh/holdings/">Benzinga Pro</a>, the GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) being entirely invested in Nvidia, saw a remarkable increase of 479.94%.
Meanwhile, ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>), which has a 53.92% stake in Nvidia, climbed by 290.18%.
The Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) with an 8.15% holding in Nvidia surged by 111.65%, while the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rose by 50.49%, holding 9.69% in Nvidia. The Strive US Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>) which maintains a 26.04% Nvidia holding, increased by 51.19%.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41348553/jay-z-praised-by-warren-buffett-as-the-guy-to-learn-from-once-said-he-wasnt-taught-emotiona?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jay-Z, Praised by Warren Buffett as &#8216;The Guy to Learn From,&#8217; Once Said He Wasn&#8217;t Taught Emotional Intelligence, But How To Survive — The Rap Legend&#8217;s Growth Has Made Him Not Just A Better Person, But Also Worth $2.5B Today</a>
The Simplify Volt RoboCar Disruption (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCAR#NYSE">VCAR</a>) gained 34.66%, with 22.83% invested in Nvidia. Lastly, the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) rose by 76.50%, holding 22.69% in Nvidia.
Why It Matters: The impressive performance of Nvidia-linked ETFs can be attributed to the company&#8217;s strong market position and the increasing demand for its products. Recently, <a href="https://www.benzinga.com/news/24/10/41437976/nvidia-stock-hits-all-time-high-ahead-of-big-tech-earnings-whats-going-on">Nvidia&#8217;s stock reached an all-time high</a>, driven by the surge in artificial intelligence demand. Since the beginning of the year, Nvidia shares have risen over 186%, showcasing the company&#8217;s significant growth trajectory.
Furthermore, <a href="https://www.benzinga.com/government/24/10/41462536/nvidia-accelerates-global-growth-eyes-ai-chip-development-in-india-and-expansion-in-thailand">Nvidia is expanding globally</a>, with plans to develop AI chips in India and expand in Thailand. This strategic expansion aims to bolster domestic semiconductor supply chains, further solidifying Nvidia&#8217;s market dominance.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin On The Rise As &#8216;Uptober&#8217; May Be Finally Here: Analysts Predict Bullish Breakout For King Crypto, ETH&#8217;s Rally To $3,300</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
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NVDL

SOXL

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Simplify Volt RoboCar Disruption and Tech ETF

VCAR

While Nvidia Shares Are Hitting All-Time High With Over 230% Return In The Past Year, Some ETFs Linked To Jensen Huang's Chip Giant Have Surged By Almost 500%: Here's More

Nvidia&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recently made significant product launches amid a <a target="_blank" href="https://www.benzinga.com/news/24/10/41119735/nvidia-faces-new-competition-cerebras-files-for-ipo-huawei-pushes-ai-chips" rel="noreferrer noopener">volatile run as </a>the Street factors in the company&#8217;s customer concentration and delays in product releases like its&nbsp;Blackwell GPUs.
The chip designer launched an open-source artificial intelligence model, intensifying rivalry with Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) backed ChatGPT parent OpenAI and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Venture Beat <a target="_blank" href="https://venturebeat.com/ai/nvidia-just-dropped-a-bombshell-its-new-ai-model-is-open-massive-and-ready-to-rival-gpt-4/" rel="noreferrer noopener">reports</a>.
Nvidia&#8217;s new&nbsp;NVLM 1.0&nbsp;family of large multimodal language models also enhances text-only capabilities in addition to vision and language tasks.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/10/41127863/despite-nvidia-selloff-bidens-law-and-taiwan-semis-advantage-offer-growth-potential" rel="noreferrer noopener">Despite Nvidia Selloff, Biden&#8217;s Law and Taiwan Semi&#8217;s Advantage Offer Growth Potential</a>
Nvidia also launched its new Unreal Engine 5 on-device plugins for&nbsp;Nvidia Ace at&nbsp;Unreal Fest Seattle 2024, helping build and deploy AI-powered MetaHuman characters on Windows PCs, Venture Beat <a target="_blank" href="https://venturebeat.com/ai/nvidia-releases-plugins-to-improve-digital-human-realism-on-unreal-engine-5/" rel="noreferrer noopener">reports</a>.
Developers can now access a new Audio2Face-3D plugin for AI-powered facial animations in Autodesk, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>)
Maya.&nbsp;
Nvidia stock lost over 4% in the last five days since China retaliated against U.S. artificial intelligence technology sanctions by urging its companies to reach out to domestic chipmakers instead of Nvidia. Huawei Technologies has started tapping Nvidia&#8217;s Chinese hyperscalar customers by offering them Ascend 910C processor samples.
Nvidia stock has risen over 161% in the last 12 months as US hyperscalars continue to drive up demand for its AI chips.
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: NVDA stock is down 0.62% at $116.27 premarket at last check Wednesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40980388/amd-chief-predicts-custom-chips-will-outperform-gpus-sees-shift-in-ai-chip-demand-report" target="_blank" rel="noreferrer noopener">AMD Chief Predicts Custom Chips Will Outperform GPUs, Sees Shift in AI Chip Demand: Report</a></li>
</ul>
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Nvidia Expands AI Offerings with New Open-Source Models and Unreal Engine 5 Plugins

Semiconductor, hardware, and artificial intelligence-linked stocks led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are down as the sector continues to pull back.
AI stocks led by Nvidia, Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) selloff continue their <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40746353/nvidia-super-micro-arm-tumble-2-in-premarket-most-chip-peers-deep-in-red-whats-dragging-down-sem" rel="noreferrer noopener">downward price trajectory</a> as the Nvidia and Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) quarterly prints failed to impress the Street.
Broadcom released its third-quarter earnings on Thursday. The <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40741225/broadcom-q3-earnings-revenue-beat-eps-beat-continued-strength-in-ai-solutions-and-vmware-2024-ai-gu" rel="noreferrer noopener">topline grew 42%</a> to &nbsp;$13.07 billion in the third quarter, topping the analyst estimate of $12.96 billion. The chipmaker expects fourth-quarter revenue of $14 billion, above the analyst consensus of $12.70 billion. The <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40740457/broadcom-inc-announces-third-quarter-fiscal-year-2024-financial-results-and-quarterly-dividend" rel="noreferrer noopener">adjusted gross margin</a> grew by 110 bps sequentially and 230 bps year-on-year to 77.4%.
JPMorgan analyst Harlan Sur projected upside, citing robust AI growth, VMware momentum, and recovery in <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40750949/broadcom-analysts-lifts-ai-revenue-forecast-to-12b-on-potential-strong-demand-from-" rel="noreferrer noopener">traditional semiconductor sectors</a>.
Last week, Nvidia&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal" rel="noreferrer noopener">second-quarter topline</a> grew 122% to $30.04 billion, surpassing the analyst estimate of $28.68 billion. It expects third-quarter revenue of $31.85 billion-$33.15 billion versus the analyst consensus of $31.77 billion. The adjusted gross margin declined 320 bps sequentially and grew by 450 bps year-on-year.
BofA Securities analyst Vivek Arya maintained a bullish outlook backed by data center and AI training demand and <a target="_blank" href="https://www.benzinga.com/news/24/09/40737481/nvidias-future-tied-to-llms-and-gaming-despite-ai-capex-skepticism-remains-a-sector-favorite-analyst" rel="noreferrer noopener">supply chain recovery</a>.
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>), which tracks the overall performance of the 25 largest U.S.-listed companies that produce semiconductors, including Nvidia, Taiwan Semiconductor, Broadcom, and AMD, has been down 12% in the last five days. iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) fell 12% in the previous five days.
Nvidia has been down 15% in the last five days. AMD lost over 10%, and Taiwan Semiconductor lost 8%. The selloff refused to subside despite assurances from <a target="_blank" href="https://www.benzinga.com/news/24/09/40735058/taiwan-semis-supplier-dismisses-selloff-projects-strong-ai-growth-surge" rel="noreferrer noopener">contract chipmakers like</a> Taiwan Semiconductor and Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) regarding sustained AI demand.
ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>), which corresponds to two times (2x) the daily performance of the Dow Jones U.S. Semiconductors&nbsp;Index, lost 26% in the last five days.
ETFs with exposure to riskier indexes noted volatility during the period. ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>), which corresponds to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. Semiconductors Index, gained 28% in the last five days.
The ETFs tracking broader indexes like the S&amp;P 500 and NASDAQ saw relatively lesser value losses due to Big Tech stocks like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 stock market index, including Big Tech stocks, lost 3.5% in the last five days. Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the NASDAQ index, lost 5% in the last five days.
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PowerShares Exchange-Traded Fund Trust Dynamic Semiconductor Portfolio

SSNLF

Semiconductor ETFs Take A Beating, Dragged Lower By Nvidia, AMD, and Broadcom Stocks

In the wake of Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recent earnings announcement, exchange-traded funds (ETFs) associated with the company have shown diverse responses.
What Happened: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, after the earnings report, GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) saw a decrease of 3.41% in pre-market trading. Concurrently, T-Rex 2X Inverse NVIDIA Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/NVDQ#BATS">NVDQ</a>) experienced a rise of 3.48%.
Other ETFs like ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Direxion Daily NVDA Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NASDAQ">NVDU</a>) also witnessed a decline of 1.90% and 3.48% respectively. On the contrary, Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) saw an increase of 1.09% and 0.57% respectively.
The varied responses from NVDA ETFs came in the aftermath of Nvidia&#8217;s latest quarterly earnings report.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40590258/gop-congress-member-nancy-mace-they-havent-done-anything-slams-dnc-cannabis-inaction-calls-out-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Congress Member Nancy Mace: &#8216;They Haven&#8217;t Done Anything,&#8217; Slams DNC Cannabis Inaction, Calls Out Republican Reluctance</a>
Why It Matters: Nvidia ETFs had shown mixed trading activity prior to the earnings announcement as well. The earnings report revealed that Nvidia had surpassed expectations for the <a href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal">second quarter driven</a> by strong data center revenue.
However, the Jensen Huang-led chip company&#8217;s gross margin had contracted from the first quarter, leading to a 3.6% drop in shares in after-hours trading. This could explain the varied responses among Nvidia ETFs following the earnings announcement.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40592599/nvidia-stock-poised-for-major-298b-market-jolt-as-q2-earnings-loom-says-goldman-sachs-can-you-im?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Poised For Major $298B Market Jolt As Q2 Earnings Loom, Says Goldman Sachs: &#8216;Can You Imagine&nbsp;If NVDA Beats Expectations?&#8217;</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

NVDQ

NVDU

Nvidia ETFs Split In Pre-Market After Jensen Huang-Led Chip Giant Exceeds Q2 Expectations

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is set to report its highly anticipated earnings Wednesday, and the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40597015/will-nvidia-continue-to-deliver-investors-sweat-over-hyped-up-expectations-and-pote">stakes couldn't be higher.</a>
As the undisputed leader in the AI revolution, Nvidia&#8217;s results will be a critical indicator for the broader market, particularly for those invested in semiconductor and technology sectors.
This highly followed market event offers both risk and opportunity. For traders seeking to capitalize on Nvidia's earnings without the direct exposure to single-stock volatility, ETFs with substantial Nvidia holdings present an appealing alternative. 
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40596306/market-eyes-305b-shift-in-nvidias-market-cap-as-options-pricing-forecasts-9-8-post-">Market Eyes $305B Shift In Nvidia&#8217;s Market Cap As Options Pricing Forecasts 9.8% Post-Earnings Move: &#8216;A Lot Of That Insurance Is FOMO&#8217;</a>
<h3 class="wp-block-heading">Nvidia Earnings Expectations: A High Bar Set</h3>
Wall Street has set an ambitious target for Nvidia this quarter, with revenue expected to hit $28.74 billion — a staggering 17% increase from the previous quarter and an eye-popping 156% jump from the same quarter last year. 
Earnings per share (EPS) are forecasted to rise to 65 cents, up from 56 cents in the prior quarter and 21 cents in the same period last year.
Goldman Sachs&#8217; semiconductor analyst, Toshiya Hari, is bullish on Nvidia&#8217;s prospects, predicting the company will surpass these already lofty expectations. 
&#8220;We believe customer demand across the large Cloud Service Providers and enterprises is strong, and Nvidia&#8217;s robust competitive position in AI/accelerated computing remains intact,&#8221; Hari stated in a note published this month. 
The driving force behind this optimism? Data Center revenues and strong operating leverage. Hari highlights three key areas: robust demand for the H100 GPUs, the launch of volume shipments of the H200, and the ramp-up of Nvidia&#8217;s Ethernet-based networking product, Spectrum-X. These factors could fuel a significant earnings beat, potentially leading to upward revisions in EPS.
Shares of the AI tech giant are up 159% year to date, after surging by 239% in 2023. 
<h3 class="wp-block-heading">Historical Volatility: A Look At Past Nvidia Earnings</h3>
Nvidia&#8217;s stock has a history of sharp rallies post-earnings, with an average one-day boost of 9% over the past eight quarters and 7.1% over the last four.
A Goldman Sachs analysis identified the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) as having the highest average post-earnings move (3.4%) following Nvidia's past eight earnings releases. 
It was followed by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) at 2.9% and the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) at 2.4%.
<h3 class="wp-block-heading">Top 10 ETFs With Nvidia Exposure</h3>
For traders looking to gain exposure to Nvidia's potential earnings-driven rally, here are 10 ETFs with the largest holdings in the stock:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Nvidia Weight %</th>
<th>YTD Performance (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>)</td>
<td>30.69%</td>
<td>136%</td>
</tr>
<tr>
<td>Strive U.S. Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>)</td>
<td>29.54%</td>
<td>19.2%</td>
</tr>
<tr>
<td>Simplify Volt RoboCar Disruption (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCAR#NYSE">VCAR</a>)</td>
<td>22.83%</td>
<td>12.7%</td>
</tr>
<tr>
<td>VanEck Semiconductor ETF </td>
<td>21.95%</td>
<td>41.3%</td>
</tr>
<tr>
<td>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>21.29%</td>
<td>16.7%</td>
</tr>
<tr>
<td>Grizzle Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DARP#NYSE">DARP</a>)</td>
<td>20.32%</td>
<td>13.9%</td>
</tr>
<tr>
<td>Franklin Focused Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFOG#NYSE">FFOG</a>)</td>
<td>18.07%</td>
<td>26.4%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (IXN)</td>
<td>17.55%</td>
<td>21.6%</td>
</tr>
<tr>
<td>iShares ESG Advanced MSCI USA ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USXF#NYSE">USXF</a>)</td>
<td>16.05%</td>
<td>22.4%</td>
</tr>
<tr>
<td>SoFi Select 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFY#NYSE">SFY</a>)</td>
<td>15.96%</td>
<td>20.5%</td>
</tr>
</tbody>
</table>
</figure>
Now Read:
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</ul>

Large Cap

ARKK

DARP

Franklin Templeton ETF Trust Franklin Focused Growth ETF

FFOG

USXF

10 ETFs Poised For Wild Swings Following Nvidia Earnings

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) continues to lead the global foundry market, holding a 62% share in the second quarter of 2024. Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), which has a 3% market share, follows suit.
Taiwan Semiconductor&#8217;s $877 billion market cap reflects a strong demand for artificial intelligence (AI) and a robust semiconductor ecosystem.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/08/40554768/taiwan-semiconductor-ramps-up-overseas-investments-with-1-95b-in-subsidies-eyes-long-term-growth" rel="noreferrer noopener">Taiwan Semiconductor Ramps Up Overseas Investments with $1.95B in Subsidies, Eyes Long-Term Growth</a>
It also looks to double its production capacity for Chip on Wafer on Substrate (CoWoS) technology by 2024.
Additionally, Taiwan Semiconductor intends to raise prices for its 3-nanometer and 5-nanometer process products by up to 8%, a strategic move that could further solidify its market position and enhance profitability.
Taiwan Semiconductor clocked a <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39832197/apple-nvidia-supplier-tsmc-reports-strong-q2-results-amid-booming-demand-for-ai-chips-guides-q3-abov" rel="noreferrer noopener">second-quarter topline</a> growth of 40.1% year-over-year, quashing the analyst consensus backed by strong demand for 3-nanometer and 5-nm technologies.
Samsung Electronics also makes strategic advancements, particularly in AI and high-performance computing (HPC) applications. The company is focusing on advancing its 2nm process to meet future technologies&#8217; high-performance, low-power, and high-bandwidth requirements.
Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) announced plans to introduce 1.4nm ultra-fine processes by 2027. It clocked a <a target="_blank" href="https://www.benzinga.com/news/24/08/40528681/intel-board-member-lip-bu-tan-resigns-amid-chipmakers-struggle-with-cost-cuts" rel="noreferrer noopener">second-quarter topline</a> growth of 0.9% year-on-year, trailing the analyst estimate. It shared plans to downsize its workforce by over 15%.
Taiwan Semiconductor stock gained 80% in the last 12 months. Intel plunged over 40%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27065117/newplot-1-8.png" alt="" class="wp-image-515567" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27065117/newplot-1-8.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27065117/newplot-1-8-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Investors can gain exposure to the semiconductor sector through SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>) and ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>).
Price Action:&nbsp;TSM stock traded lower by 0.81% at $167.70 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Jack Hong via Shutterstock

INTC

Taiwan Semiconductor Leads Foundry Market, Samsung and Intel Ramp Up Advanced Process Efforts: Report

Chip stocks-linked exchange-traded funds (ETFs) witnessed a substantial decline during <a href="https://www.benzinga.com/markets/equities/24/08/40156506/nvidia-plunges-nearly-10-to-sub-100-level-leading-other-semiconductor-stocks-lower-in-premarket-">Monday&#8217;s pre-market trading.</a>
What Happened: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) plummeted by 17.93%, while GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) dropped by 18.49%. ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) was trading lower by 16.72%.
Similarly, VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) also recorded losses, falling by 6.55% and 6.25% respectively.
Why It Matters: This significant drop in semiconductor ETFs is part of a larger global market &#8220;bloodbath.&#8221; On Friday, the U.S. <a href="https://www.benzinga.com/markets/asia/24/08/40156460/bloodbath-in-asia-and-europe-japans-index-crashes-13-gold-near-record-highs-global-markets-update-wh">stock markets closed</a> lower due to a disappointing jobs report, which sparked recession fears and led to a shift in investor sentiment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152445/trumps-bold-plan-to-use-bitcoin-to-wipe-out-35t-us-debt-questioned-by-economist-justin-wol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Bold Plan To Use Bitcoin To &#8216;Wipe Out&#8217; $35T US Debt Questioned By Economist Justin Wolfers: &#8216;That&#8217;s Not How Crypto Works&#8217;</a>
On Monday, Asian markets opened with Japan&#8217;s TOPIX index dropping over 6%, <a href="https://www.benzinga.com/markets/equities/24/08/40151907/global-sell-off-shows-no-sign-of-stopping-japanese-stocks-fall-sharply-nikkei-drops-over-5-dow-f">triggering circuit breakers </a>and halting trading. This was part of a broader impact felt across the Asia-Pacific region. The U.S. market also<a href="https://www.benzinga.com/markets/asia/24/08/40152994/as-global-markets-roil-strategist-soothes-nerves-some-normal-action-under-the-surface-as-tech-got-wa"> showed a negative performance</a> for the third straight session, with tech being the worst performer. 
The development also coincides with Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)<a href="https://www.benzinga.com/news/24/08/40152477/nvidia-upcoming-chip-launch-faces-delay-due-to-design-flaws-setback-expected-to-impact-meta-microsof"> facing delays in the production</a> of its upcoming AI chips due to design issues. This setback is expected to impact major clients including Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152252/bitcoin-ethereum-dogecoin-mirror-stock-market-rout-major-coins-crash-as-recession-war-fear?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Mirror Stock Market Rout — Major Coins Crash As Recession, War Fears Grip Investors: Analyst Says Aug, Sept &#8216;Worst Months&#8217; for King Crypto But Oct Raises Hopes</a></li>
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Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Pre-Market Outlook

NVDL, SOXL And Other Chip ETFs Suffer Major Blow In Premarket Amid Global Market 'Bloodbath'

In a recent development, chip ETFs have experienced a significant upswing as a result of President Biden&#8217;s decision to exempt some allies from the new rule governing chip exports to China.
This movement also comes on the heels of&nbsp;Advanced Micro Devices, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) <a href="https://www.benzinga.com/news/earnings/24/07/40060832/amd-skyrockets-over-9-lifting-along-with-ai-rival-nvidia-whats-going-on">posting its second-quarter</a> results which exceeded expectations and guided the current quarter's revenue above consensus. 
What Happened: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, on Wednesday, the GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>), which has 100% exposure to AMD&#8217;s peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) saw an 11.78% increase, trading at $52.65, up from Tuesday&#8217;s close of $47.10. 
The Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) also experienced a significant boost, trading 10.71% higher at $41.23, compared to its previous close at $37.24.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40038854/why-bitcoin-etf-gbtc-is-down-a-whopping-10-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Bitcoin ETF GBTC Is Down A Whopping 11% Today</a>
ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) followed suit, with an 8.73% increase, trading at $110.98, a significant rise from Tuesday&#8217;s close at $102.07. The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) saw a 4.20% increase, trading at $239.10, up from $229.47. Lastly, the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) rose by 3.69%, trading at $228.73, up from $220.58 on Tuesday.
Why It Matters: The Biden administration announced <a href="https://www.benzinga.com/24/07/40061267/asml-shares-surge-over-7-as-team-biden-plans-to-exempt-allies-from-new-rule-on-foreign-chip-equipmen">the new rule </a>on foreign chip equipment exports to China which will enhance U.S. authority to halt exports of semiconductor manufacturing equipment from certain foreign countries to Chinese chipmakers. However, shipments from key allies such as Japan, the Netherlands, and South Korea will be exempted, thereby limiting the rule's impact.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/40029681/trump-accuses-opec-of-manipulating-oil-prices-to-favor-kamala-harris-warns-she-will-be-a-disaste?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Accuses OPEC Of Manipulating Oil Prices To Favor Kamala Harris, Warns &#8216;She Will Be A Disaster For The USA!&#8217;</a></li>
</ul>
Picture by blickpixel on Pixabay and Karolina Grabowska on Pexels and Osman Bugra Nuvasil on Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

NVDL, SOXL, And Other Chip-Stock Tracking ETFs Are Trading Higher In Premarket Today: Here's Why

Investors, including Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), have invested about $27 million in the networking software startup Arrcus Inc. in the latest round of funding to enhance its platform for managing <a target="_blank" href="https://www.benzinga.com/topic/data" rel="noreferrer noopener">data traffic more efficiently</a>.
The investment round saw participation from Saudi Aramco's venture arm Prosperity7 Ventures, Hitachi Ventures, and General Catalyst, among others, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-18/nvidia-backs-networking-software-startup-arrcus-s-latest-round?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a> reports.
The San Jose-based company, which counts SoftBank Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) among its 50 clients, intends to use the funds to expand globally and enhance its technology.
With the rise of artificial intelligence, the demand for robust networks connecting enterprises, data centers, and users has increased.
Arrcus's software optimizes data flow to meet this demand.
CEO Shekar Ayyar emphasized the growing importance of networks in the evolution of AI architecture, stating that companies are seeking smarter ways to utilize processors and hardware efficiently.
Nvidia, which has become the posterchild of the AI revolution, is not only catering to the rising demand for its advanced chips but has also become a venture capital investor in <a target="_blank" href="https://www.benzinga.com/news/24/03/37584039/nvidias-secret-weapon-is-not-just-chips-but-investing-1-5b-in-ais-rising-stars-report-unveils-ceo-je" rel="noreferrer noopener">firms leveraging the technology</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39822184/google-and-microsoft-provide-nvidia-chip-access-to-chinese-firms-despite-u-s-restrictions-report" rel="noreferrer noopener">Google And Microsoft Provide Nvidia Chip Access To Chinese Firms Despite U.S. Restrictions: Report</a>
The chip major has invested in about three dozen startups, with investments in other companies rising sharply from $300 million a year ago to $1.55 billion at end-January.
For example, Nvidia-backed AI startup&nbsp;Cohere is eyeing a $5 billion valuation, marking a substantial leap from its <a target="_blank" href="https://www.benzinga.com/news/24/03/37867088/nvidia-backed-ai-startup-cohere-targets-5b-valuation-in-new-funding-round" rel="noreferrer noopener">previous valuation of $2.2 billion.</a>
Cohere's competitors include OpenAI, which has Microsoft&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) as a backer and anticipates $1 billion in revenue for 2024.
Arrcus collaborates with major industry players such as Broadcom Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) alongside Nvidia.
The startup employs approximately 150 people, with a significant portion based in Bangalore. Earlier in 2023, Arrcus raised $50 million, later expanding its Series D funding round.
NVIDIA stock has gained more than 153% in the last 12 months. Investors can gain exposure to the stock via&nbsp;T-Rex 2X Long NVIDIA Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/NVDD#BATS">NVDD</a>) and ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>).
Price Action: NVDA shares are trading higher by 2.41% at $120.83 at the last check on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39810790/as-nvidia-microsoft-and-google-lead-ai-boom-taiwans-chief-telecom-president-calls-for-entirely-new-d" target="_blank" rel="noreferrer noopener">As Nvidia, Microsoft, And Google Lead AI Boom, Taiwan's Chief Telecom President Calls For ‘Entirely New' Data Center Infrastructure</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

NVDD

SFTBY

Nvidia Invests In AI Network Optimizer Arrcus

Chip stocks led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) are trading lower Wednesday as the <a target="_blank" href="https://www.benzinga.com/government/24/07/39810709/whats-going-on-with-alibaba-and-peer-chinese-stocks-on-wednesday" rel="noreferrer noopener">U.S. intensified semiconductor sanctions</a> against China, followed by Presidential candidate Donald Trump&#8217;s attack against crucial contract chipmaker Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
The Biden administration is contemplating using the Foreign Direct Product Rule (FDPR), which allows it to impose controls on foreign-made products that incorporate even minimal amounts of American technology, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-17/us-considers-tougher-trade-rules-against-companies-in-chip-crackdown-on-china?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
The U.S. has presented this possibility to officials in Tokyo and The Hague.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39790359/whats-going-on-with-nvidia-stock-on-tuesday" rel="noreferrer noopener">Nvidia&#8217;s Growth Soars Despite French Investigation and Investor Skepticism</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17053457/newplot-36.png" alt="" class="wp-image-440237" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17053457/newplot-36.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/17053457/newplot-36-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Additionally, the U.S. is considering further sanctions on specific Chinese chip companies.
The U.S. semiconductor companies have significant exposure to China. Prior reports indicated Nvidia could sell $12 billion of AI chips in China this year despite <a target="_blank" href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on" rel="noreferrer noopener">U.S. export controls</a>.
Meanwhile, former President Donald Trump has triggered jitters in the semiconductor sector <a target="_blank" href="https://www.benzinga.com/news/24/07/39807774/trump-says-taiwan-should-pay-us-for-defense-ex-presidents-remark-triggers-fall-in-tsmc-shares" rel="noreferrer noopener">with the latest remark</a>.
The key Nvidia supplier, Taiwan Semiconductor, is trading lower on Wednesday after Trump said that the contract chipmaker should compensate the U.S. for its defense.
Trump suggested this during a Bloomberg Businessweek interview on June 25, which was published on Tuesday.
The broader chip sector is trading lower Wednesday, including Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Microchip Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), STMicroelectronics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STM#NASDAQ">STM</a>), ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), GlobalFoundries Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>), United Microelectronics Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NASDAQ">UMC</a>), Skyworks Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>).
Investors can gain exposure to the semiconductor sector through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Actions: NVDA shares traded lower by 4.02% at $121.28 at the last check on Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/07/39799972/amd-showcases-new-ai-capabilities-with-ryzen-ai-chips-report" target="_blank" rel="noreferrer noopener">AMD Showcases New AI Capabilities with Ryzen AI Chips: Report</a></li>
</ul>
Photo by Tatiana Popova and rawf8 via Shuttterstock

Government

Regulations

Movers

MCHP

MRVL

QCOM

SWKS

What's Going On With Nvidia, AMD And More Semiconductor Stocks Wednesday?

Key artificial intelligence chip stocks Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stocks continue to ride the artificial intelligence wave Monday.
Wall Street expects leading <a target="_blank" href="https://www.benzinga.com/news/24/07/39768027/whats-going-on-with-taiwan-semi-stock-on-monday" rel="noreferrer noopener">AI contract chipmaker</a> Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to likely report a 30% rise in second-quarter profit on Thursday. The Street expects Taiwan Semiconductor to clock a net profit of $7.25 billion for the quarter ending June 30.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39753749/nvidia-highlights-lucrative-returns-for-cloud-providers-using-nvidia-gpus" rel="noreferrer noopener">Nvidia Highlights Lucrative Returns For Cloud Providers Using Nvidia GPUs</a>
Tech investor James Anderson <a href="https://www.benzinga.com/markets/equities/24/07/39765205/nvidia-could-be-worth-nearly-50-trillion-in-a-decade-says-early-tesla-amazon-investor-nearly-2x-" target="_blank" rel="noreferrer noopener">predicted that Nvidia</a> could achieve a market capitalization nearing $50 trillion within the next decade due to its crucial role in AI chip demand. 
He noted Nvidia could reach earnings of $1,350 per share and free cash flow of $1,000 per share with sustained 60% annual growth in data center revenue.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/15091509/newplot-30.png" alt="" class="wp-image-436143" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/15091509/newplot-30.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/15091509/newplot-30-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Nvidia stock gained over 178% in the last 12 months. AMD gained over 53% during the period.
Investors can gain exposure to the semiconductor sector through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
<h2 class="wp-block-heading">NVIDIA Stock Prediction For 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of NVIDIA have an average 1-year price target of $827.85, representing an expected upside of 536.49%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on NVIDIA, while 47 analysts have bullish ratings. The street high price target from Cantor Fitzgerald is $1400.0, while the street low from Goldman Sachs is $135.0.
Price Actions: NVDA shares traded higher by 0.76% at $130.22 at the last check on Monday. AMD is up 0.19% at $181.96.
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Photo via Shutterstock

What's Going On With AI Stocks Nvidia, AMD On Monday?

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported significant growth in second-quarter revenue on Wednesday, surpassing market forecasts due to the booming demand for artificial intelligence (AI) applications.
Taiwan Semiconductor, which counts Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) among its clients, has experienced a surge towards AI that has helped it withstand the decline in pandemic-driven demand, pushing Taiwan Semiconductor&#8217;s share price to a record high, Reuters reports.
In the April-June period, Taiwan Semiconductor&#8217;s revenue reached roughly $20.67 billion (673.51 billion New Taiwan dollars), surpassing analyst consensus of 654.27 billion New Taiwan dollars. This represents a 32% increase from $15.68 billion in the same period last year.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10034919/newplot-17.png" alt="" class="wp-image-427968" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10034919/newplot-17.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/10034919/newplot-17-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39684066/taiwan-semiconductors-expansion-spurs-luxury-market-in-kumamoto-report" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Expansion Spurs Luxury Market in Kumamoto: Report</a>
During its most recent earnings call in April, Taiwan Semiconductor projected second-quarter revenue between $19.6 billion &#8211; $20.4 billion. For June alone, the company reported a 33% year-on-year revenue increase to <a target="_blank" href="https://pr.tsmc.com/english/news/3157" rel="noreferrer noopener">NT$207.87 billion</a>.
Taiwan Semiconductor&#8217;s ADRs hit a record of $192.79 on Monday, temporarily boosting the company&#8217;s market value to $1 trillion.
Global businesses invest heavily in AI-related infrastructure, driving demand for hardware like Nvidia chips.
<a target="_blank" href="https://www.benzinga.com/news/24/07/39649308/whats-going-on-with-taiwan-semiconductor-stock-on-friday" rel="noreferrer noopener">Wall Street brokerages</a> have raised their price targets for Taiwan Semiconductor, anticipating higher customer charges in 2025 to boost earnings.
Taiwan Semiconductor stock gained 85% in the last 12 months. Investors can gain exposure to the semiconductor sector through ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: At the last check on Wednesday, TSM shares traded higher by 2.53% to $1890 premarket.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Jack Hong via Shutterstock

Earnings

What's Going On With Taiwan Semiconductor Stock On Wednesday?

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) plays a crucial role as some Chinese AI chip firms design less powerful processors to comply with U.S. sanctions.
The U.S. imposed export controls on advanced processors and manufacturing equipment to hinder China&#8217;s military AI advancements. This affected companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and limited TSMC&#8217;s production capabilities due to its use of U.S. tools.
Meanwhile, the key Nvidia supplier looks to <a href="https://www.benzinga.com/news/24/06/39170072/nvidia-amd-chips-to-get-dearer-as-taiwan-semi-eyes-ai-chip-price-hike">boost prices of its</a> services to tap the AI frenzy. The stock price of TSMC is trading higher Wednesday.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05040346/newplot-10.png" alt="" class="wp-image-371585" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05040346/newplot-10.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/05040346/newplot-10-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/05/38940907/asml-and-taiwan-semi-prep-for-potential-china-taiwan-conflict-with-remote-shutdown-feature" rel="noreferrer noopener">ASML and Taiwan Semi Prep for Potential China-Taiwan Conflict with Remote Shutdown Feature</a>
Washington&#8217;s sanctions highlight China&#8217;s dependency on TSMC for advanced chips. Two leading Chinese AI chip firms, MetaX and Enflame, downgraded their chip designs to meet U.S. restrictions. Both firms have state support and significant backing, Reuters reports.
China&#8217;s AI chip sector is under pressure, with U.S. sanctions blocking some firms from overseas production.
Huawei Technologies Co gains from these production challenges.
Despite substantial government investments in chip self-sufficiency, China&#8217;s only advanced GPU producer, Semiconductor Manufacturing International Corp, has limited capacity and previously reserved production for Huawei.
Now, SMIC allocates some capacity to sanctioned Chinese AI firms like Cambricon, which faces supply challenges due to U.S. restrictions.
TSMC emerged as the leading global foundry with a 62% market share.
<a target="_blank" href="https://www.benzinga.com/news/24/05/39010105/taiwan-semi-leads-while-chinas-smic-climbs-to-third-in-global-chip-market" rel="noreferrer noopener">Thanks to the AI frenzy</a>, TSMC&nbsp;predicted 10% annual growth in the global semiconductor industry, excluding memory chips.
<a target="_blank" href="https://www.benzinga.com/government/23/10/35345164/is-nvidia-benefiting-from-us-sanctions-on-china" rel="noreferrer noopener">Prior reports indicated</a> that the U.S. chip embargo led to an underground market for Nvidia chips, where Chinese vendors sold the chips at a huge premium.
TSMC stock gained 56% in the last 12 months. Investors can gain exposure to the semiconductor sector via ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action: TSM shares traded higher by 2.32% at $156.00 premarket at the last check on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography on Shutterstock

Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) aims to capture over 50% of the Windows PC market within five years, according to CEO Rene Haas.
The stock is trading lower Tuesday after closing higher by over 5% Monday.
Arms expectations follow Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) recent plans to launch a new generation of AI-enhanced PCs using Arm&#8217;s technology, positioning them against Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Reuters reports.
The push comes as Microsoft commits to supporting Arm-based chips with advanced developer tools, potentially reshaping a market long dominated by Intel Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) x86 chips.
Microsoft&#8217;s hardware partners, including Asus and Dell, are set to release devices featuring Arm&#8217;s technology.
According to Reuters, CEO Rene Haas eyes 100 billion AI-ready Arm devices <a target="_blank" href="https://www.benzinga.com/news/24/06/39135597/why-is-arm-holdings-stock-trading-higher-on-monday" rel="noreferrer noopener">worldwide by 2025</a>.
Analysts expressed their confidence in Arm Holdings backed by licensing interest and potential in AI and datacenter markets.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04043235/newplot-1-1.png" alt="" class="wp-image-369279" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04043235/newplot-1-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04043235/newplot-1-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is also eying the AI PC market.
Arm stock gained 100% in the last 12 months. Investors can gain exposure to the semiconductor sector via ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and Invesco PHLX Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
ARM&nbsp;Price Action:&nbsp;At the last check on Tuesday, Arm shares traded lower by 1.00% to $125.85 premarket.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

What's Going On With Arm Holdings Stock Tuesday?

Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) benefits from Asia&#8217;s skilled engineers and disciplined work culture, which are&nbsp;essential for advanced semiconductor production, said Konrad Young, a leading figure in Taiwan&#8217;s chip industry, the Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Confucian-culture-gives-Asia-edge-in-chipmaking-former-TSMC-exec-says" rel="noreferrer noopener">reports</a>.&nbsp;
Young emphasized that human expertise is crucial for developing a nation&#8217;s semiconductor supply chain due to the precision and knowledge required in over 1,500 manufacturing steps.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/05/38824316/taiwan-semi-set-to-build-11b-chip-plant-in-germany-aiming-for-2027-production-start" rel="noreferrer noopener">Taiwan Semi Set to Build $11B Chip Plant in Germany, Aiming for 2027 Production&nbsp;Start</a>
Young, who has worked at TSMC, HP, and other chipmakers, now nurtures new semiconductor talent at Taiwanese universities and founded the X-bridge Alliance to connect industry executives and students.&nbsp;
Taiwan, accounting for 90% of the world&#8217;s advanced chipmaking capacity, has been battling worker shortages due to a decline in the birth rate.&nbsp;
Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) supplier TSMC is working with top universities to&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Taiwan-to-invest-300m-in-grad-schools-to-stem-chip-brain-drain" rel="noreferrer noopener">set up graduate schools</a>&nbsp;specializing in semiconductors to tackle the talent issue.
Young believes Taiwan&#8217;s and South Korea&#8217;s Confucian cultures are ideal for chip manufacturing.&nbsp;
They emphasize precision, training, and adherence to standard procedures.&nbsp;He&nbsp;attributed Japan&#8217;s success in rebuilding its chip industry to the culture.
Despite Western creativity and innovation, Young noted that the U.S. needs to embrace Asian cultural aspects and skilled immigrants to regain its semiconductor manufacturing edge.&nbsp;
He highlighted challenges in attracting top tech talent to semiconductor manufacturing in the U.S. and China due to higher-paying jobs in other industries. &nbsp;According to Glassdoor, a semiconductor process engineer draws an average annual salary of $144,000 versus $145,000 for a software engineer.
China needs more experienced chip talent and high job turnover, impacting the foundation of its industry.
<a target="_blank" href="https://www.benzinga.com/government/24/03/37818220/taiwan-semi-and-intel-hit-roadblocks-in-arizona-high-costs-and-labor-shortages-challenge-chip-supply" rel="noreferrer noopener">Prior reports indicated</a>&nbsp;that TSMC,&nbsp;Intel Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)&nbsp;Samsung&nbsp;Electronics&nbsp;Co&nbsp;were battling skyrocketing costs, a&nbsp;labor crisis, and&nbsp;weak chip supply chain efforts in Arizona, forcing suppliers to opt for overseas shipping.
TSMC plans to build fabs for 2-nanometer chips in Taiwan&#8217;s Hsinchu and Kaohsiung cities. Samsung announced a&nbsp;major&nbsp;semiconductor project near Seoul, focusing on advanced 2-nanometer chip technology.
TSMC is also considering a second plant in Kumamoto, Japan, with a potential investment of&nbsp;$13.5 billion.&nbsp;
TSMC stock&nbsp;gained 57% in the last 12 months. Investors can gain exposure to the semiconductor sector via&nbsp;ProShares Ultra Semiconductors&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>) and&nbsp;Invesco PHLX Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXQ#NASDAQ">SOXQ</a>).
Price Action:&nbsp;TSM shares were trading higher by 0.38% to $160.60&nbsp;premarket at&nbsp;the last check on Tuesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38139563/key-nvidia-apple-supplier-tsmc-to-receive-6-6b-from-us-government-for-arizona-plant" rel="noreferrer noopener">Key Nvidia, Apple Supplier TSMC To Receive $6.6B From US Government For Arizona&nbsp;Plant</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Jack Hong via Shutterstock

Taiwan Semi Leverages Asian Expertise and Culture for Chip Manufacturing Edge

CoreWeave, a cloud-computing firm backed by&nbsp;NVIDIA Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has&nbsp;<a target="_blank" href="https://www.prnewswire.com/news-releases/coreweave-secures-1-1-billion-in-series-c-funding-to-drive-the-next-generation-of-cloud-computing-for-the-future-of-ai-302133328.html" rel="noreferrer noopener">secured&nbsp;</a>$1.1 billion&nbsp;in new funding, led by Coatue, with participation from Magnetar, who led the last primary round, as well as Altimeter Capital, Fidelity Management &amp; Research Company, and Lykos Global Management.
The New Jersey-based company expects to use the new funding to support&nbsp;the&nbsp;growth across all areas of its business,&nbsp;and&nbsp;expansion&nbsp;into new geographic regions.
The substantial funding values CoreWeave at $19 billion, signaling strong demand for AI computation, <a href="https://www.wsj.com/tech/ai/ai-cloud-computing-startup-coreweave-valued-at-19-billion-in-new-funding-round-dfdb47cd?mod=lead_feature_below_a_pos1" target="_blank" rel="noreferrer noopener">reported </a>The Wall Street Journal.
Also Read: <a href="https://www.benzinga.com/news/24/04/38510989/nvidia-ceo-jensen-huang-predicts-ai-will-make-companies-hire-more-workers-with-higher-earnings-there" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Predicts AI Will Make Companies Hire More Workers With Higher Earnings</a>
The report noted that the company, specializing in AI-tailored cloud-computing, distinguishes itself from tech giants like&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), focusing solely on AI-related services.
&#8220;CoreWeave continues to push forward as a provider of critical infrastructure in the development of AI, and the high caliber of investors who continue putting their trust in us validates the enormous opportunity we have to define the next generation of cloud computing,&#8221; said&nbsp;Mike Intrator, co-founder and CEO of CoreWeave.
In December 2023, CoreWeave&nbsp;closed a secondary investment of&nbsp;$642 million, following a&nbsp;$420 million&nbsp;primary led by Magnetar in&nbsp;April 2023.
In August 2023, CoreWeave secured a $2.3 billion debt financing facility. Also, CoreWeave increased its data center presence in the last year from three to 14 and quadrupled its employee headcount.
NVIDIA stock has gained more than 186% in the last 12 months. Investors can gain exposure to the stock via&nbsp;T-Rex 2X Long NVIDIA Daily Target ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/NVDX#BATS">NVDX</a>) and&nbsp;ProShares Ultra Semiconductors&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38481188/this-nvidia-partner-and-bitcoin-miner-stock-could-surge-by-50-say-analysts" rel="noreferrer noopener">This Nvidia Partner And Bitcoin Miner Stock Could Surge By 50%, Say&nbsp;Analysts</a>
Price Action: NVDA shares are trading lower by 4.34% at $826.48 at&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF

NVDX

Nvidia Backed AI Start-Up CoreWeave Lands New $1.1B Funding - What's On The Cards?

BOIL

TSLA

Top Wall Street Bets Mentions For Monday April 3, 2023: SPY, TSLA, NVDA, QQQ, FRC, WWE, USD, AAPL, MCD, BOIL

Among the S&amp;P 500 mega-cap stocks,&nbsp;NVIDIA Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) shares gained the most YTD (+86.06%).
Nvidia shares also gained the maximum in the last week (+6.46%), the month (31.02%), the quarter (+69.05%), and the six months (+105.04%), reaching a market cap of $672 billion.
Nvidia won a host of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/NVDA/analyst-ratings" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">analyst convictions</a>, especially since the GTC conference, which helped it showcase accelerating demand for its solutions, driven by the demand wave of generative AI and increasing criticality of power efficiency in the data center.&nbsp;
Nvidia CEO&nbsp;Jensen Huang&nbsp;referred to the recent acceleration of artificial intelligence as the &quot;iPhone moment for AI&quot; during the GTC event on Tuesday.
Nvidia also revealed deals with big tech companies. &quot;The age of AI demands cloud data center infrastructures to support extraordinary computing requirements,&quot; Huang said&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31458456/why-nvidia-stock-is-rallying-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">during his presentation</a>.
Huang expressed a &quot;great relationship&quot; with &quot;basically every car company on the planet.&quot; He expected greater demand from hyperscalers since the last earnings report.
Evercore wrote, lauded the event for serving as a confidence boost in Nvidia&#39;s positioning as &quot;the arm&#39;s dealer and enabler of AI adoption across every industry,&quot; adding that generative AI is marking an inflection point for AI and Nvidia &quot;remains king&quot; in the AI space.
&quot;We expect NVDA&#39;s valuation to increase based on near-term data center strength, receding gaming headwinds, and greater traction in inference and software markets,&quot; Needham analyst Rajvindra Gill&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/03/31471630/why-nvidia-stock-is-shooting-up-premarket" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">wrote on Thursday</a>.
This week, Nvidia said it has similarly developed a China-export version of its H100 chip, making it eligible for export to China. The H800 mainly reduced the chip-to-chip data transfer rate to about half the speed of the flagship H100.
The cloud computing units of Chinese technology firms like&nbsp;Alibaba Group Holding Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>),&nbsp;Baidu Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>), and&nbsp;Tencent Holdings Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) used the new chip, called the H800,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/03/31451632/nvidia-reaches-workaround-for-export-of-flagship-product-to-china-wins-alibaba-and-peer-cloud-units" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">a company spokesperson said</a>.
ETFs such as&nbsp;ProShares Ultra Semiconductors&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/usd#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">USD</a>), VanEck Video Gaming And ESports ETF(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/espo#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ESPO</a>), and&nbsp;VanEck Semiconductor ETF&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/smh#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SMH</a>) ETFs have exposure to NVIDIA of over ~11% - ~20%.
USD gained over 65% YTD. ESPO and SMH gained over 21%-26% YTD. USD and ESPO gained close to 5% last week, while SMH gained over 2%. ESPO and SMH gained over 20% in the last quarter, while USD gained over 46%.
Price Action:&nbsp;NVDA shares traded lower by 2.43% at $265.43 on the last check Friday.

BABA

BIDU

ESPO

TCEHY

ETFs That Allow You To Invest In Nvidia's AI Wave, Strategy to Bypass US - China Sanctions

The Japanese economy is the third-largest national economy, and the Japanese yen (JPY) is the third most commonly traded currency after the U.S. dollar and the euro.&nbsp;
Since 2012, the JPY has weakened from 75 yen against the dollar to just over 120 yen against the dollar today. This month has seen the yen weaken by 5% so far.&nbsp;
The question you may be asking is:&nbsp;why is this happening?&nbsp;
The Context: Japan is usually considered one of the most innovative nations globally. It has a unique economy with significant manufacturing and export of automobiles and electronic goods.
With the rise of manufacturing in neighboring Asian countries, Japan has recently shifted from manufacturing to focusing on high-tech and precision goods.&nbsp;
Forex Opportunities: When it comes to the ups and downs of a currency, it will always be challenging to pinpoint the exact reason behind price action. Wanting meaning is natural but is counterproductive as an investor. It is easy to get bogged down in the nuts and bolts and&nbsp;as a result miss out on a high-probability opportunity unraveling in front of you.&nbsp;
The questions that actually need answering are:
<ul>
<li>When is the right time to enter into a currency pair?</li>
<li>What is the profit potential?</li>
</ul>
Like stocks, I look for currency pairs that are breaking out from a long-term area of consolidation and have ample space to trend before the next level of support (in a bear trend) or resistance (in a bull trend).&nbsp;
With the JPY weakening across the board, I compare the charts of all currencies paired against the JPY and narrow them down to the one or two currencies that offer the best potential to profit. My list includes the AUDJPY, CADJPY, CHFJPY, EURJPY, GBPJPY, NZDJPY, SGDJPY, SEKJPY and the USDJPY.&nbsp;
I have the monthly timeframe of the USDJPY below. Even though price is breaking out from a long-term area of consolidation, there is little space for price to move until the next area of resistance, marked below.
<img alt="usdjpy_zaheer_anwari_sublime_trading.png" src="https://www.benzinga.com/files/u517520/usdjpy_zaheer_anwari_sublime_trading.png" style="height:334px; width:624px" />
I have the monthly timeframe of the GBPJPY below.&nbsp;I have also marked the next level of resistance. The fact that price is breaking out from a period of consolidation that dates back to 2016, the GBPJPY has a much higher chance of being entered into my portfolio than the USDJPY.&nbsp;
<img alt="gbpjpy_zaheer_anwari_sublime_trading.png" src="https://www.benzinga.com/files/u517520/gbpjpy_zaheer_anwari_sublime_trading.png" style="height:334px; width:624px" />
As with stocks, I keep investing in currency pairs simple. If the chart has a good history of performance and then answers the above two questions, that is enough for me to consider a potential position instead of getting bogged down in fundamentals.&nbsp;
If it fails, risk management and exit management come into their own. If it moves in my favor, I compound.&nbsp;
Less is always more!

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