Artificial intelligence is expected to see exponential growth over the next decade and a new ETF is targeting firms in its value chain.
Amplify ETFs’ new fund, announced today (October 21) will focus on the firms that feature in the Bloomberg AI Value Chain Index, typically semiconductor, cloud/software, and hardware companies globally.
The Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC) takes an equal-weighted rules based approach and insights from Bloomberg Intelligence to inform investment decisions to ensure the right exposure to those companies that are essential to the AI ecosystem, driving tech such as generative AI, machine learning, and natural language processing.
Recent data from Precedence Research predicts AI will be a $3.5 trillion market 10 years from now, a sharp rise from its $638 billion level in 2024, with North America expected to grow from an estimated $123.07 billion in 2023 to $851.46 billion by 2034, at a CAGR of 19.3% from 2024 to 2034, thanks in part to the participation of American firms such as Facebook, Amazon, Google, IBM, Microsoft, and Apple.
“AI is fundamentally reshaping industries worldwide and AIVC provides investors with diverse exposure to companies that are the backbone of this industry," said Christian Magoon, CEO of Amplify ETFs. "Our new focus on AI and its value chain aligns this fund with one of the most compelling growth themes of the next decade."
The announcement of AIVC is the result of name, fee and strategy changes to the Amplify Global Cloud Technology ETF (IVES). Amplify ETFs says that no action is required by current shareholders as a result of this change and confirms that the changes were previously communicated via a supplement to the IVES Summary Prospectus, Statutory Prospectus and Statement of Additional Information as published on August 15, 2024.
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