Leading ETF providers believe the artificial intelligence boom is just getting started.
Roundhill Investments launched its Generative AI & Technology ETF (CHAT) less than 20 days ago. It is the first-ever exchange-traded fund aimed at tracking companies involved in generative AI and other related technologies.
“We believe these companies are more than just fads. They’re empowering something that has the potential to become as pervasive as the internet itself,” Dave Mazza, the firm’s chief strategy officer, told ETF Edge this week. said. “We are not talking about hopes and dreams [or] Themes and trends that could change the world in 30 years. ”
Mazza points out that the fund includes not only pure AI companies like C3.ai, but also big tech companies like Microsoft and AI chip maker Nvidia.
Nvidia leads the fund with an 8% stake, according to the company’s website. The company’s stock has risen about 42% over the past two months. Since the beginning of the year, Nvidia shares have jumped 169%.
“this [AI] It’s an area that gets a lot of attention,” Mazza said.
His bullish forecast comes amid fears that AI will become a price bubble that will devastate the big tech bull market.
In a recent interview on CNBC’s “Fast Money,” Richard Bernstein Advisors’ Dan Suzuki, a big tech bear since June 2021, compared the AI rally to the dotcom bubble of the late 1990s. bottom.
“People jump from story to story,” the company’s deputy chief investment officer said Wednesday. “I love this technology.
The CHAT ETF is up more than 8% since it opened on May 18.
