Destiny Tech100 Inc (DXYZ), an exchange-traded fund (ETF) tracking tech stocks, surged 8.91% in Tuesday's pre-market session, driven by an overnight rally in Nvidia-linked stocks, Tesla, and Bitcoin.
Several stocks in DXYZ's portfolio, including Serve Robotics Inc. (SERV), Arbe Robotics Ltd. (ARBE), and Applied Digital Corp (APLD), which are linked to Nvidia's AI and autonomous driving technologies, saw significant gains in overnight trading. SERV rose 8%, ARBE and APLD climbed 6%, while Nvidia (NVDA) itself was up 1%.
DXYZ's surge was also fueled by a 2.2% jump in Tesla (TSLA) shares, as the electric vehicle maker is a major holding in the ETF. Morgan Stanley analyst Adam Jonas raised his price target on Tesla, citing the company's unique combination of skills in AI-trained self-driving cars. Additionally, Bitcoin's rise above $94,000 boosted crypto-related stocks like Marathon Digital Holdings (MARA) and MicroStrategy (MSTR), which are also part of DXYZ's portfolio.
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