Alphabet Inc.’s (NASDAQ:GOOGL) sprint toward a $4 trillion valuation lit up Wall Street on Tuesday, yet AI-focused ETFs sat out the celebration. Google shares jumped on Tuesday following a report indicating that Meta Platform Inc. (NASDAQ:META) may use Google's AI chips in its data centers. A powerful year-long rally fueled by its sharpened AI strategy and buzz around its Gemini model was also driving the momentum. But even as Alphabet soared, the ETFs built to track the artificial intelligence boom traded in the red, weighed down by the one stock that usually powers them higher: Nvidia Corp (NASDAQ:NVDA).
