Alternative Investments/AI: Roundhill Unveils Generative AI ETF Amidst ChatGPT Frenzy
The ETF will invest in companies operating within the rapidly expanding generative AI sector, providing investors with the opportunity to gain exposure to that market.
Roundhill Investments has launched the Roundhill Generative AI & Technology ETF, providing investors with a diversified portfolio of stocks in the generative artificial intelligence (AI) space. The launch comes in response to the success of OpenAI’s ChatGPT, a chatbot that has gained significant popularity since its release in late 2022. Microsoft Corporation (NASDAQ: MSFT) invested $10 billion in OpenAI, highlighting the potential of generative AI technology.
Roundhill Investments aims to capitalize on the growth of generative AI, which it sees as a transformative technology comparable to the internet. The company believes generative AI has the potential to significantly impact productivity growth and profitability, positioning it as a generational investment theme. The ETF focuses on companies at the forefront of artificial intelligence technology, with a specific emphasis on generative AI. (Benzinga)
Will Hershey, Co-Founder and CEO of Roundhill Investments, stressed the importance of a discerning investment approach in the rapidly evolving AI sector. Rather than investing in companies following AI trends, Roundhill Investments focuses on those developing foundational AI technologies. Hershey believes there will be multiple winners in the generative AI boom and sees an ETF as an attractive option for investors looking to capitalize on the overall theme rather than individual companies.
Roundhill Investments Chief Strategy Officer Dave Mazza highlighted the potential impact of generative AI across various industries, including entertainment and healthcare. ChatGPT, in particular, has demonstrated real-world use cases in a range of sectors.
The Roundhill Generative AI ETF is actively managed and will hold companies operating in the generative AI and related technologies fields.
Overall, Roundhill Investments’ launch of the generative AI ETF offers investors an opportunity to gain exposure to the growing generative AI market, which is expected to have a total addressable market size of over $120 billion according to Roundhill’s research.
Related Story: Microsoft Extends Partnership, Invests $10B In ChatGPT
Latest Alternative Investment News
Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…