Nvidia's (NVDA) stock surge has made it the 澳洲幸运5官方开奖结果体彩网:most valuable company in the world, propelling semiconductor澳洲幸运5官方开奖结果体彩网: exchange-traded funds (ETFs) heavily exposed to its shares to record highs.

As a key component of the Nasdaq 100 and S&P 500, Nvidia has been a key driver of the U.S. stock market's performance this year. The company has surged 173% year-to-date after reporting 澳洲幸运5官方开奖结果体彩网ꩲ:record fiscal first-quarter revenue and a quintu🌜pling of its data-cent꧒er revenue year-on-year.

The performance of other chip stocks, though commendable, has seemed sluggish in comparison. But, in recent days, other chip stocks have joined the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) gold rush, accelerating the semiconductor ETF rally🦹.

TSMC, Broadcom and Micron Power ETF Gains

The VanEck Semiconductor ETF (SMH), for example, has about $23.7 billion in 澳洲幸运5官方开奖结果体彩网:assets under management (AUM) and counts Nvidia as its largest holding, at 24.6% of the portfolio.

However, the fund also has a 12.76% holding in Taiwan Semiconductor Manufacturing (TSM) and an 8.76% holding in Broadcom (AVGO).💦 The 🌠ETF is up 8.3% over the last week and about 58% year-to- date.

Broadcom surged to an澳洲幸运5官方开奖结果体彩网: all-time high last week after announcing better-than-expected earnings and a 10-for-1 澳洲幸运5官方开奖结果体彩网:stock split. Its stock has risen about 23% in the past seven days while gaining more than 62% year-to-date. TSM shares have gained about 8.7% in the past week and are up roughly 74% since the beginning of thℱe year.

Other chip ETFs are also performing well, with the $16 billion iShares Semiconductor ETF (SOXX) up 6.5% over the last week and around 35% year-to-date. The fund has Nvidia (11.23%) and Broadcom (9.55%) as its largest holdings but its third and fourth largest holdings are Qualcomm (QCOM) (with 7.46%) and Micron Technology (MU) (at 5.58%), respectively.

Bank of America 澳洲幸运5官方开奖结果体彩网:lifted its price target on Micron to $170 from $144 yesterday, calling it a “top U.S. memory company.” The company's shares have gained 13.6% in the past week and are up roughly 80% year-to-date. Qualcomm stock has returned 8.9% and 58.4% over the same period respectively.