The CSOP 2x Long NVIDIA ETF (07788) rose more than 3% in early trading. As of press time, it was up 3.65% at HK$199.

On the news front, NVIDIA (NVDA) closed up 2.12% on Monday, with its share price hitting a record high and its market capitalization rising to $5.76 trillion. Some options traders speculate that NVIDIA (NVDA) could challenge the $6 trillion market cap milestone within this month.

Notably, the board of NVIDIA (NVDA) recently added $150 billion in share buyback authorization, bringing the remaining authorized amount to $235 billion, setting a record for the largest buyback increase in history.

Hou Wey Fook, Chief Investment Officer at DBS Group, said that NVIDIA (NVDA)'s price-to-earnings ratio and its projected 70% earnings growth next year indicate that AI-driven tech stocks are still far from a bubble. Data shows that NVIDIA (NVDA) currently trades at about 17 times its expected earnings over the next 12 months, significantly different from Cisco's 100 times valuation before the dot-com bubble burst, making it hard to call it a "bubble."