iShares Robotics and Artificial Intelligence Multisector ETF

U.S. tech stocks surged following President Joe Biden's withdrawal from the presidential race, with the S&P 500 and Nasdaq Composite rising over 1% and 1.6%, respectively. This recovery was led by NVIDIA, as the artificial intelligence (AI) rally seems to be gaining momentum. Kamala Harris, known for her involvement in AI policy, could bring increased focus on technology issues if elected, which could further boost AI stocks.

Related tickers: NVDA, MAGS, BOTZ, IRBO, ROBT, WISE.

The soaring investor interest in artificial intelligence has propelled a rally in U.S. stock markets, but it has also fueled concerns about a potential AI-bubble burst akin to the dotcom-bubble eruption of the late 1990s. The excitement over AI in recent weeks has sent the S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), to new highs after gaining more than 50% from an October 2022 low. Meanwhile, the Nasdaq Composite Index, which is tracked by the Invesco QQQ Trust (NASDAQ:QQQ), has soared more than 70% since the end of 2022, Reuters reported. Nvidia and a handful of other giant tech stocks are driving the current market, much in the same way that the “Four Horsemen” Cisco Systems, Inc. (NASDAQ:CSO), Dell Technologies Inc. (NYSE:DELL), Microsoft Corporation (NASDAQ:MSFT) and Intel Corporation (NASDAQ:INTC) did nearly three decades ago. Also Read: Nvidia Supplier’s ...Full story available on Benzinga.com

Related tickers: SPY, DELL, INTC, MSFT, NVDA, QQQ, ROBO, BOTZ, IRBO.