Direxion Daily AI and Big Data Bull 2X Shares

AIBU

Market cap $34.7M

Thanks to profound leaps in digital innovation, companies such as Nvidia Corp NVDA and Microsoft Corp MSFT managed to secure the vaunted $3 trillion valuation. Of course, much of this achievement has to do with their advancement of artificial intelligence.

The Nasdaq is down well over 3% as of this writing, with AI hardware names driving the declines. The main AI infrastructure stock, Nvidia, is down roughly 20% over the last two trading days, which equates to a drop of nearly $700 billion in market cap.

As the Nasdaq-100 continues to push higher, it doesn't appear as though certain hedge funds are sensing any frothiness. Per a Reuters report, hedge funds continue to load up on technology stocks as rate cuts loom.

It almost goes without saying that artificial intelligence (AI) has been a hot ticket item for short-term traders to capitalize on in the 2024 rally, but with volatility forthcoming, it's best to stay flexible. The general consensus is that the long-term trend will benefit AI.

The momentum of tech stocks don't appear to be waning as the hype around artificial intelligence (AI) continues to garner investor interest. Given that, Direxion Investments has three leveraged ETFs to capture the ongoing upside.

When it comes to investing themes, none has captured the imagination of investors more than the artificial intelligence (AI) trend. In turn, the theme is also capturing a lot of investment capital.

On Wednesday, Direxion released a pair of dueling ETFs. They are the Direxion Daily AI and Big Data Bull 2X Shares (AIBU) and the Direxion Daily AI and Big Data Bear 2X Shares (AIBD) ETFs.

On Wednesday, Direxion released a pair of dueling ETFs. They are the Direxion Daily AI and Big Data Bull 2X Shares (AIBU) and the Direxion Daily AI and Big Data Bear 2X Shares (AIBD) ETFs.