ETFs
Beyond Tesla, bet on Elon Musk with these stocks and ETFs
Elon Musk, CEO of You’re here TSLA is an extremely famous name in the business world, mainly because of its visionary goals and revolutionary approaches to technology. He has made significant contributions to several industries.
In addition to being CEO of Tesla, he is the founder and CEO of SpaceX, which reshaped the space industry by developing reusable rockets, thereby reducing the cost of space travel. Musk co-founded SolarCity, a leading solar energy service provider in the United States. It was later acquired by Tesla.
Investors should note that there are purely space ETFs called ETF ARK Space Exploration and Innovation ARKX and ETF Providing Space UFO. Although these ETFs have shown moderate performance this year, the products may recover once the space industry matures (read: $1.8 billion space boom expected by 2035: ETFs will play ).
Musk’s company Neuralink is developing brain-machine interface technology, seeking to establish a direct connection between the human brain and computers, which could transform medical treatments and human cognition.
Elon Musk is known for his active presence on X, formerly known as Twitter. In 2022, Musk acquired Twitter, where he implemented several notable changes. Musk intends to turn the micro-blogging website into a broader concept called “X”, a “multi-purpose application” that could include various features such as messaging, social media, payments and more.
In this context, Elon Musk’s influence continues to impact market perceptions. While Tesla is down 26% this year, mainly due to profitability issues, fierce competition and a general slowdown in the electric vehicle sector, there are other forms available in the market that help investors to bet big on Elon Musk’s vision. Let’s dig a little deeper.
Musk on artificial intelligence
Lately, Musk has sought to go all out to promote artificial intelligence (AI). Tesla uses AI for its self-driving technology. Elon Musk co-founded OpenAI, famous for its form Gen AI – ChatGPT. Musk announced a $10 billion investment in AI for Tesla this year, focusing on projects such as the fully autonomous Robotaxi fleet.
One of his notable ventures is AI startup xAI, which recently raised $6 billion in Series B funding. Cathie Wood’s ARK Invest is among the lead investors, bringing $60 million into xAI. This investment indicates strong confidence in xAI’s potential, especially given its access to real-time data from other Musk-led companies like X.
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In this regard, investors can play Roundhill Generative AI and Technology ETF CHAT (up 23.6% this year).
Musk’s impact on SMCI and DELL
Even though Tesla is Musk’s only public company, investors can access his projects indirectly through suppliers such as Tesla. Super microcomputer SMCI. This strategy exposes investors to the broader AI ecosystem, benefiting hardware manufacturers and associated technology companies.
Last week, Elon Musk announced that Dell Technologies DELL and SMCI will provide hardware for its AI supercomputer project. DELL was up about 8% last week and SMCI was up 7%. SMCI stock has gained 217% this year, while Dell has surged more than 90%. Investors can play SMCI via Global X ETF for Data Centers and Digital Infrastructure DTCR because the security has a weighting of more than 5% in the fund.
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Dell Technologies Inc. (DELL): Free Stock Analysis Report
Tesla, Inc. (TSLA): Free Stock Analysis Report
Super Micro Computer, Inc. (SMCI): Free Stock Analysis Report
ETF Procure Space (UFO): ETF Research Reports
ARK Space Exploration & Innovation ETF (ARKX): ETF Research Reports
Roundhill Generative AI & Technology ETF (CHAT): ETF Research Reports
Global X Data Center & Digital Infrastructure ETF (DTCR): ETF Research Reports