AI Craze Could Power These ETFs

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2023-06-09 13:40:33  • 4 mins

The universe of investable assets with ties to artificial intelligence (AI) is commanding plenty of attention this year and that pertains to much more thanNvidia (NVDA),though thats a compelling story itself.

Consider some recent news from the AI world. On June 8, Cohere announced it raised $270 million. By some estimates, that values the privately held company at $2.2 billion. Thats an impressive sum for a company that makes a competing product to the famed ChatGPT. If that valuation estimate is accurate or close to it, it speaks to value institutional investors see in AI and the price points at which theyre willing to enter the market.

Cohere is just one example. So is the$29 billion estimated valuationon ChatGPT, but those points and others buttress the case for AI-related exchange traded funds. ETF nerds know that this isnt a new segment,but it is one thats growing, particularly when AI-adjacent tech funds are included.

With that in mind, here are few options investors can consider when it comes narrowing the field of AI ETFs and allocating capital to this disruptive technology.

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