Broadcom-OpenAI collaboration sends these ETFs higher

[Broadcom headquarters in San Jose, California, United States]
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Shares of Broadcom (NASDAQ:AVGO [https://seekingalpha.com/symbol/AVGO]) popped on Monday after the tech giant announced a collaboration with OpenAI (OPENAI [https://seekingalpha.com/symbol/OPENAI]) to develop 10 gigawatts of custom AI accelerators and many ETFs have taken notice.

The two companies will co-develop [https://seekingalpha.com/news/4503609-broadcom-surges-after-openai-deal-for-10-gigawatts-of-custom-ai-accelerators] systems that include accelerators and Ethernet solutions from Broadcom for scale-up and scale-out.

Following the announcement, AVGO’s stock jumped by more than 7.5%, the rally also reverberated across the exchange traded fund landscape, as many of the funds with exposure to AVGO saw a corresponding boost in value.

Currently, AVGO shares are held by 599 ETFs, representing a combined ownership of 778.7 million shares. As the stock’s price climbs, ETFs with significant Broadcom weightings have benefited disproportionately, particularly those focused on semiconductors and artificial intelligence innovation.

Outlined below are the top 10 exchange traded funds that currently hold the largest allocations towards AVGO:

No. 1: Defiance Daily Target 2X Long AVGO ETF (AVGX [https://seekingalpha.com/symbol/AVGX]), 86.42% allocation.

No. 2: Roundhill AVGO WeeklyPay ETF (AVGW [https://seekingalpha.com/symbol/AVGW]), 19.94% allocation.

No. 3: Direxion Daily AVGO Bull 2X Shares (AVL [https://seekingalpha.com/symbol/AVL]), 18.99% allocation.

No. 4: Strive U.S. Semiconductor ETF (SHOC [https://seekingalpha.com/symbol/SHOC]), 18.74% allocation.

No. 5: YieldMax Semiconductor Portfolio Option Income ETF (CHPY [https://seekingalpha.com/symbol/CHPY]), 12.76% allocation.

No. 6: VanEck Fabless Semiconductor ETF (SMHX [https://seekingalpha.com/symbol/SMHX]), 12.70% allocation.

No. 7: iShares U.S. Tech Independence Focused ETF (IETC [https://seekingalpha.com/symbol/IETC]), 12.68% allocation.

No. 8: Direxion Daily Technology Top 5 Bull 2X ETF (TTXU [https://seekingalpha.com/symbol/TTXU]), 11.83% allocation.

No. 9: Inspire 500 ETF (PTL [https://seekingalpha.com/symbol/PTL]), 11.39% allocation.

No. 10: Columbia Semiconductor and Technology ETF (SEMI [https://seekingalpha.com/symbol/SEMI]), 10.52% allocation.

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