10.28.24

Asset Managers Roll Out New ETFs To Tap in to AI Buzz

by: Suzanne McGee

Exchange-traded funds (ETFs) focused on artificial intelligence (AI) are proliferating, according to Morningstar data, with more than one-third of the two dozen ETFs that include AI in their name launched in thus far in the year. The AI ETF group now has assets of $4.5 billion, drawing it closer to the $5.5 billion nuclear power-themed ETF group, and pushing it well above the cannabis sector, with $1.37 billion in assets. "I'm not surprised their ranks are multiplying," said Daniel Sotiroff, senior analyst at Morningstar. "This is a fast-growing, fast-moving industry, and it is easy to hope that you could end up making a lot of money in a short period of time."

Read the full article on Reuters