AI-themed ETFs jump as Nvidia surges
Shares of exchange-traded funds that provide exposure to companies involved in artificial intelligence were rising sharply Thursday.
The Roundhill Generative AI & Technology ETF (CHAT), whose top holdings recently included Nvidia Corp. (NVDA), Microsoft Corp. (MSFT) and Google parent Alphabet Inc. (GOOGL), was up 3% Thursday afternoon, according to FactSet data, at last check. The top five holdings of the fund, which launched this month, also included Advanced Micro Devices Inc. (AMD) and Adobe Inc. (ADBE) as of May 24, according to data on the website of Roundhill Investments.
Meanwhile, the Global X Robotics & Artificial Intelligence ETF (BOTZ) was climbing 2.7% Thursday afternoon, bringing its year-to-date gains to more than 30%, FactSet data show, at last check. The fund's top holdings also include chip maker Nvidia, which was surging more than 25% Thursday afternoon.
The AI-focused ETFs were outperforming the broad U.S. stock market in Thursday afternoon trading, with the Dow Jones Industrial Average falling 0.4% while the S&P 500 rose 0.7% and the technology-heavy Nasdaq Composite (NVDA) gained 1.7%, according to FactSet data, at last check.
-Christine Idzelis
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05-25-23 1256ET
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