Destiny Tech100 rises, defying broader tech declines

Shares of Destiny Tech100 DXYZ.N, a fund that invests in privately owned technology heavyweights, rise 1.2% to $33.55 premarket

Co invests in top venture-backed private technology companies and says it intends to provide everyday investors access to these private market leaders

DXYZ's share move defies broader market weakness where global software companies have logged losses over potential disruptions from Anthropic's Claude plug-ins

The S&P 500 technology index .SPLRCT shed 2.1% on Tuesday and tech-heavy Nasdaq futures point to a lower open on Weds

On Tuesday, DXYZ shares jumped 7% after Elon Musk's SpaceX acquired his artificial-intelligence company xAI in a record-setting deal

DXYZ largest equity holding is SpaceX, accounting for 23.3% of the $153.3 mln fund's economic exposure, and shares have gained 19% since news broke regarding SpaceX's upcoming public debut

Co's other private company holdings include OpenAI, Stripe, Kraken and Revolut