Nvidia Sets Record as Ali Tracks Two ETFs for AI Interest

Nvidia shares reached an all-time high of $237.88 on Oct. 2, rising nearly 14% since Sept. 14 as crypto analyst Ali watches two exchange-traded funds for signs of renewed interest in artificial intelligence.

Ali said Direxion Daily Semiconductor Bull 3X ETF (SOXL) appears to be breaking above a channel pattern on a four-hour chart. The fund aims to deliver three times the daily performance of a semiconductor index. Ali identified $150 as support; if that level holds, the move could point toward $210.

Ali said Roundhill Memory ETF (DRAM), which invests mainly in memory chip companies worldwide, is forming an ascending triangle, a chart pattern with a rising lower boundary beneath resistance. He said an hourly close above $64 could confirm a breakout, with $80 as a target to watch and about 25% potential upside.

Ali also described Nvidia as testing resistance at the upper edge of a price channel, with $260 as a possible target. He is watching whether the ETF patterns provide further confirmation of continued AI-related market interest.