Global X Artificial Intelligence & Technology ETF (AIQ) Surpasses USD 1 Billion in Assets
Global X ETFs, the New York-based provider of exchange-traded funds, announced that the Global X Artificial Intelligence & Technology ETF (AIQ) has surpassed USD 1 billion in assets under management (AUM). This important milestone represents both the firm’s legacy and expertise in thematic investing as well as the rapid rise of artificial intelligence (AI) and its role in accelerating disruption across industries.
AIQ, which seeks to invest in companies that potentially stand to benefit from the further development and utilization of AI technology and hardware in their products and services, has benefitted from the major strides made in cutting-edge AI technology in 2023. ChatGPT, OpenAI’s generative AI platform, surpassed over 100 million weekly users in under a yeari, and worldwide expenditures on AI chips soared past $50 billionii last year as new consumer and enterprise AI use cases continue to emerge. AIQ provides investors with exposure to a range of businesses engaging these paradigm-shifting technologies.
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S”AI’s rapid advancement has the potential to add trillions of dollars to the global economyiii. AI is fueling the evolution of cloud computing and producing more convenient, accessible and scalable resources that benefit corporate IT departments and consumers alike. In addition, AI is helping to bring about the next generation of automation technologies – lowering costs, driving productivity and helping employees focus on higher value work,” said Pedro Palandrani, Director of Research at Global X ETFs. “As these technologies continue to overlap, we believe they are paving the way for successive rounds of innovation that can continue to change consumer expectations in new and often unexpected ways. AIQ provides investors with access to this disruptive theme, while leveraging Global X’s history in and knowledge of thematic investing.”
The Global X Artificial Intelligence & Technology ETF (AIQ) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Artificial Intelligence & Big Data Index. The fund carries a total expense ratio of 0.68%.
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