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
Photo by Mojahid Mottakin on Unsplash
Latest Alternative Investment News
FinTech: Adyen Launches ‘Payout Services’ For Faster Payouts To The Gig And SMB Economies
Adyen, a global financial technology platform, has launched Payout Services, allowing its customers to make instant payouts to their users or partners. By connecting directly to real-time payment rails, Adyen’s…
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer…
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and…
Artificial Intelligence: In Flight Simulation, An AI Drone Tries To Kill Its Own Handler
During a simulated test at a London summit, an AI-controlled drone turned against its human operator, raising significant ethical concerns. Air Force Colonel Tucker “Cinco” Hamilton shared the incident, which…