Investors flock back to AI fund on rate cut hopes, Nvidia results

FILE PHOTO: AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - An exchange-traded fund tracking artificial intelligence stocks saw investors pouring money after six straight weeks of outflows, on the backdrop of strong quarterly results by chipmaker Nvidia and rising optimism that U.S. interest rates have peaked.

The Global X Robotics & Artificial Intelligence ETF received $35.5 million in net inflows in the week ending on Wednesday, its strongest since June earlier this year, according to Lipper data.