Nvidia ($NVDA) stock and related exchange-traded funds surged on Wednesday after the tech giant debuted its new cloud services, which will help companies develop their own unique “large language” models and generative artificial intelligence models. VanEck Semiconductor ETF (SMH), the largest semiconductor ETF valued at $7.7 billion, is up 2.4 percent since Wednesday's announcement, with a weighting of more than 13%. The $7.4 billion iShares Semiconductor ETF (SOXX) was up 2.2 percent. The GraniteShares 1.5x Long NVDA Daily ETF (NVDL), with less than $6 million in assets, was up 7.3 percent, and the AXS 1.25X NVDA Bear Daily ETF (NVDS), a nearly $88 million fund, was down 4.9 percent. The Nvidia AI Foundation will provide services related to images, video, and 3D.