PBOT volume spikes 55-fold as Alphabet AI battle heats

Pictet AI & Automation ETF (PBOT) has seen unusual trading volume, which is 55× higher than its average daily volume.

The fund’s largest holding, Alphabet Inc. Class A, is in focus as Microsoft rolled out three aggressively priced in-house AI models that directly compete with Google’s Gemini line, even as multiple Wall Street analysts reiterated Buy ratings and lifted or affirmed price targets that imply sizable upside for the stock. Nvidia remains a key driver for the ETF amid expectations that it will deliver triple‑digit EPS growth and continue to anchor S&P 500 earnings, though the latest Steam survey showed it ceding some gaming GPU share to AMD and the company also faces scrutiny around export‑controlled, Nvidia-powered servers allegedly shipped to China. Taiwan Semiconductor Manufacturing has been buoyed by bullish analyst calls, insider share purchases, and plans to start advanced 3nm production in Japan by 2028, while Broadcom and Meta Platforms both saw downgrades to Hold from a top analyst citing rising costs and more limited near-term upside despite still-strong AI demand. CrowdStrike gained support after Benchmark initiated coverage with a Buy rating and named it a top cybersecurity pick on its AI-driven platform and long-term recurring revenue growth outlook, and Salesforce drew a Hold reiteration that leaves its consensus view at Moderate Buy, underscoring a more measured stance on the stock within the ETF’s software exposure.