The Nasdaq-100 is home to some of the world’s biggest technology companies, listed on the second-largest stock exchange on the planet.
In April 2026 the Nasdaq-100 recorded its strongest monthly return in more than 23 years.
Tech stocks are booming, and there’s three areas that are seeing particular strength: artificial intelligence (AI), physical AI (robotics, drones etc) and quantum computing.
Here’s what’s been driving the growth and what could be next.
Why $700bn in AI capex is good news beyond Nvidia
The investment case for AI remains closely tied to the scale of spending taking place across the technology sector.
Major technology companies including Microsoft, Meta, Alphabet and Amazon continue to invest heavily in AI infrastructure and cloud computing capacity. Combined spending plans from these businesses are expected to reach $700bn in 2026 as demand for AI services continues to grow.
This spending is supporting a broad range of companies across the semiconductor value chain. Nvidia remains central to the AI infrastructure story, but the opportunity is becoming increasingly diversified. Memory-chip manufacturers, networking providers and processor companies are also benefiting from rising demand for computing power.
One area attracting increasing attention is CPUs.
While GPUs remain essential for training large AI models, CPUs play an important role in managing and coordinating AI systems. As AI applications become more complex, especially with the rise of agentic AI, demand for supporting compute infrastructure is also increasing.
This reflects an important shift in the AI market. The theme is evolving beyond a single company or technology and into a wider ecosystem of businesses supporting the growth of AI across the global economy.
The WisdomTree Artificial Intelligence UCITS ETF (INTL)focuses on companies involved in the development and application of artificial intelligence (AI) technologies. It seeks to track the performance of firms that are driving innovation in AI, spanning industries such as technology, healthcare, and industrials.
Humanoid robots just ran a half marathon: what it means for investors
Much of the focus around AI has centred on software and digital applications. However, physical AI is increasingly emerging as another important area of growth.
Physical AI refers to technologies that allow machines and robotics systems to interact with the real world. This includes humanoid robots, autonomous drones, warehouse automation and intelligent manufacturing systems.
And now physical AI is starting to accelerate.
Tesla continues to invest in its Optimus humanoid robot programme, while robotics and automation companies are expanding production capacity and securing new commercial contracts. Growth is also taking place across logistics, industrial automation and drone technologies.
One of the more visible examples of this progress came earlier this year when humanoid robots completed a half marathon in Beijing. While still early-stage technology, the event demonstrated how quickly capabilities are improving.
The long-term commercial opportunity for physical AI could be significant if falling hardware costs and improving software capabilities support wider adoption across industries.
The WisdomTree Physical AI, Humanoids and Drones UCITS ETF (PAIG) is designed to provide exposure to the next frontier of automation and autonomy. This means businesses using AI in machines that work in the real world, rather than only in software or online services.
It invests across five key areas: humanoid robotics, drones and autonomous mobility, next-generation factories (smart manufacturing), next-generation logistics and supply-chain robotics, and emerging applications in sectors like healthcare, agriculture, construction and defence.
Quantum computing: still early, but IBM, Google and Nvidia are all in
Quantum computing is another area where investor interest has increased materially over the past year.
Quantum systems are designed to solve highly complex problems that traditional computers struggle to process efficiently. Potential applications include drug discovery, cybersecurity, financial modelling and advanced materials research.
Although the technology remains at an early stage, progress continues across both hardware and software development.
Companies including IBM, Google and Nvidia are investing heavily in quantum research, while governments are also increasing support for the sector. Recent advances in networking, error correction and quantum algorithms suggest the pace of innovation may be accelerating.
There’s also growing interest in the relationship between AI and quantum computing. AI may help improve quantum systems, while quantum computing could eventually enhance the capabilities of future AI models.
For long-term investors, the theme may offer exposure to another important area of technological innovation. However, quantum computing is still an emerging technology with uncertain commercial timelines, so there could still be bumps in the road ahead.
The WisdomTree Quantum Computing UCITS ETF (QWTM) provides early exposure to companies involved in the development of the quantum computing ecosystem.
As it’s an emerging space, the ETF has been carefully designed to balance purity and diversification.
It invests in ‘pure players’ (companies purely focused on quantum computing) as well as diversified companies who are at the forefront of quantum computing activities to help balance concentration and volatility risks that can be seen with emerging industries.
So, where is the next Nvidia?
Artificial intelligence remains one of the most important investment themes in global markets, and the opportunity set is becoming broader as adoption expands across industries and technologies.
The first phase of the AI cycle was largely driven by a small number of technology companies building the infrastructure behind AI models.
The next phase may involve a much wider group of businesses across semiconductors, automation, robotics and quantum computing.
For investors looking for the next Nvidia, it may be worth looking beyond traditional technology benchmarks.
SpaceX IPO — what ETF investors need to know
Don’t want to pick winners? There’s an ETF for that
The three themes discussed above all reflect different ways investors can access the growth of AI and emerging technologies. While investors may want access to these structural growth themes, some may be unsure how to pick the leaders over the next few years or how individual themes should be weighted and periodically reassessed within their portfolio.
The WisdomTree Megatrends UCITS ETF (WMGG) takes a broad approach to thematic investing, providing exposure to companies linked to a range of structural growth themes, including AI, robotics, cybersecurity, quantum computing, clean energy and digital infrastructure.
The strategy aims to evolve with the thematic space through a systematic top-down selection process. Here’s how it works:
· Annual Theme Selection: selection of themes with strong long-term growth potential and reassessment of this selection on an annual basis.
· Quarterly Adjustment of Theme Weights: on a quarterly basis the strategy leans into ‘hot’ themes and away from ‘colder’ ones, recognising that themes can be sentiment driven, but crucially maintaining exposure to the entire selection.
· Stock Selection: picks companies built around each theme, not giants that only brush against it.
WisdomTree Megatrends theme breakdown (June 2026)
Source: WisdomTree, June 2026.
For investors, this means exposure to a broad and evolving thematic strategy that seeks to capture tomorrow’s winners, not today’s mega-caps.
This content is in paid partnership with WisdomTree. Capital at risk. Past performance isn’t a guide to the future. The value of your portfolio with InvestEngine can go down as well as up and you may get back less than you invest. ETF costs also apply.
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