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Benzinga
Benzinga
Business
Chandrima Sanyal

Nvidia Rally Meets Moment Of Truth: What It Means For Tech ETFs

Nvidia ETF QQQ Semiconductor Sydney Morning Herald
Nvidia

Nvidia Corp. (NASDAQ:NVDA), trading just two percentage points below its all-time high, has emerged as a catalyst for large ETFs ahead of its earnings announcement on Wednesday. With the AI sweetheart having contributed a staggering $2 trillion in market capitalization gains since April, the stock is a behemoth mover of tech- and semiconductor-oriented funds.

Concentration is everything. Nvidia currently represents about 22% of VanEck Semiconductor ETF (NASDAQ:SMH), and thus is perhaps the single most powerful name within the fund. The fund is up 24% year-to-date.

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