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Cryptocurrencies continue to capture the imaginations of alternative asset investors amid recent record highs. But the incorporation of artificial intelligence in the crypto space could push AI-focused ETFs even higher.
The heightened interest in artificial intelligence has helped the big tech comeback. Will the story continue heading into 2024?
Graphics processing unit (GPU) company NVIDIA (NVDA) is the top constituent in the index underpinning the Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X ETF (UBOT). Thanks to NVIDIA stock, the ETF is now up over 50% YTD — and it could keep climbing, as investor interest in AI continues to heat up.
As a disruptive technology, artificial intelligence is also looking to disrupt the workforce, altering the demand for more skilled labor that supplements the use of AI.
As the world gets increasingly more automated, artificial intelligence (AI) will play a crucial role in the long-term growth horizon. Additionally, it offers short-term growth opportunities, which can present traders with leveraged exchange traded fund (ETF) options like the Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X ETF (UBOT).
FAQ
- What is UBOT ETF?
- Does UBOT pay dividends?
- What stocks are in UBOT ETF?
- What is the current assets under management for UBOT?
- What is UBOT average volume?
- What is UBOT expense ratio?
- What is UBOT inception date?