Nvidia's blowout earnings report is boosting this single-stock ETF

A blowout earnings report for Nvidia is rewarding the chipmakers shareholders once again, and delivering even bigger returns for traders who use a red-hot leveraged ETF. Nvidia smashed estimates for the second quarter , and its third quarter guidance called for sales of roughly $16 billion — up 170% year over year. That sent the chip giant's stock up 2% in early trading, briefly reaching an all-time high. And the GraniteShares 1.5x Long NVDA Daily ETF jumped 3.

ETF has soared this year as the excitement around artificial intelligence has boosted Nvidia's stock. The GraniteShares long Nvidia fund had $260 million in assets under management before Thursday's surge, with a return of more than 400% year to date.

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