Destiny Tech100 Inc (DXYZ), an exchange-traded fund (ETF) tracking tech stocks, surged an impressive 9.42% in Tuesday's pre-market session. The rally was driven by an overnight surge in several key holdings within the DXYZ portfolio.
A significant portion of the ETF's gains can be attributed to the overnight rally in Nvidia-linked stocks, such as Serve Robotics Inc. (SERV), Arbe Robotics Ltd. (ARBE), and Applied Digital Corp (APLD). These companies, which are tied to Nvidia's AI and autonomous driving technologies, saw substantial gains ranging from 6% to 8% in overnight trading, propelling DXYZ higher.
Additionally, DXYZ's surge was fueled by a 2.2% jump in Tesla (TSLA) shares, as the electric vehicle maker is a major holding in the ETF's portfolio. Tesla's rally was driven by Morgan Stanley's analyst Adam Jonas raising his price target on the stock, citing the company's unique combination of skills in AI-trained self-driving cars. Furthermore, the rise of Bitcoin above $94,000 boosted crypto-related stocks like Marathon Digital Holdings (MARA) and MicroStrategy (MSTR), which are also part of DXYZ's portfolio, contributing to the ETF's overall gains.
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