Image Source: PixabayIn an impressive display of financial performance, NVIDIA (NVDA – Free Report), a leading U.S. chip designer, exceeded Wall Street’s first-quarter earnings and revenue expectations on Wednesday. This announcement not only showcased NVIDIA’s robust position in the AI chip market but also bolstered optimism over the global artificial intelligence (AI) boom.NVIDIA shares rose as much as 7.8% in after-market trading on blowout results and surpassed the $1,000 level for the first time ever. The rally spread to other AI stocks. Among the biggest gainers were server makers like Super Micro Computer (SMCI) and Dell Technologies (DELL), which climbed more than 4% in after-market hours. Taiwan Semiconductor Manufacturing (TSM), a key supplier to NVIDIA and the world’s premier contract chip manufacturer, rose more than 3%,Chipmakers Broadcom (AVGO), Marvell Technology Inc (MRVL), and Advanced Micro Devices (AMD) rose more than 2% each.NVIDIA CEO Jensen Huang’s outlook on the earnings call painted a bright future for the AI industry, emphasizing the enduring demand for its GPUs amid a broader industry shift toward specialized accelerators over traditional central processors.Huang said, “The next industrial revolution has begun — companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence.” He also said that “training AI models is becoming a faster process as they learn to become “multimodal” – that is, capable of understanding text, speech, images, video and 3-D data – and “to reason and plan.”Huang added that “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient while expanding revenue opportunities.”The AI craze will continue to fuel the rally with companies investing big on this technology. The expansion of AI applications holds the promise of ushering in fresh opportunities for growth within the sector. According to a new report by Grand View Research, the global artificial intelligence market is expected to witness a CAGR (2024-2030) of 36.6% to reach $811.75 billion by 2030.

ETFs to Gain
 The bullishness will spread into the ETF world as well, benefiting the ones engaged in the AI industry. While there are several options available in the space, we have highlighted five popular ones.Global X Robotics & Artificial Intelligence ETF (BOTZ – Free Report)Global X Robotics & Artificial Intelligence ETF follows the Indxx Global Robotics & Artificial Intelligence Thematic Index, which seeks investment in companies that stand to benefit from the increased adoption and utilization of robotics and AI, including those involved in industrial robotics and automation, non-industrial robots and autonomous vehicles.Global X Robotics & Artificial Intelligence ETF has 43 stocks in its basket. The ETF has AUM of $2.8 billion and charges 68 bps in annual fees. It trades in an average daily volume of 768,000 shares.Global X Artificial Intelligence & Technology ETF (AIQ – Free Report)Global X Artificial Intelligence & Technology ETF seeks to invest in companies that potentially stand to benefit from the development and utilization of artificial intelligence technology in their products and services, as well as in companies that provide hardware facilitating the use of AI for the analysis of big data. It follows the Indxx Artificial Intelligence & Big Data Index, holding 84 stocks in its basket.Global X Artificial Intelligence & Technology ETF has amassed $1.9 billion in its asset base and charges 68 bps in fees per year. It trades in an average daily volume of 607,000 shares.iShares Robotics and Artificial Intelligence Multisector ETF (IRBO – Free Report)iShares Robotics and Artificial Intelligence Multisector ETF offers exposure to the companies that are at the forefront of robotics and AI innovation. It tracks the NYSE FactSet Global Robotics and Artificial Intelligence Index, holding 109 stocks in its basket.iShares Robotics and Artificial Intelligence Multisector ETF has amassed $686.8 million in its asset base and charges 47 bps in fees per year from investors. It trades in an average daily volume of 132,000 shares.First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT – Free Report)First Trust Nasdaq Artificial Intelligence and Robotics ETF follows the Nasdaq CTA Artificial Intelligence and Robotics Index, which offers exposure to companies engaged in the artificial intelligence and robotics segments of the technology, industrial and other economic sectors. It holds 108 stocks in its basket and charges 65 bps in fees per year.First Trust Nasdaq Artificial Intelligence and Robotics ETF has accumulated $549.5 million in its asset base and trades in an average daily volume of 63,000 shares.AI Powered Equity ETF (AIEQ – Free Report)AI Powered Equity ETF is the first actively managed ETF to fully utilize artificial intelligence as a method for stock selection. The ETF applies proprietary analytical algorithms to AI technology, which can process over one million pieces of information per day to build predictive financial models on approximately 6,000 U.S. companies. AI Powered Equity ETF holds a basket of 111 securities.AI Powered Equity ETF charges 75 bps in annual fees and trades in a lower volume of 8,000 shares per day on average. It has amassed $106.5 million in its asset base.More By This Author:NVIDIA ETFs To Buy Ahead Of Q1 EarningsETFs To Bet On Analysts’ Bullish Forecast For S&P 500 Walmart Scales New Highs On Solid Q1 Earnings: ETFs To Buy