It's no surprise that artificial intelligence (AI) is on investors' minds, as the AI industry takes off. Leading chip developer and AI leader Nvidia reported a spectacular first quarter earnings report late Wednesday, lifting AI stocks.
For investors looking for exposure into AI stocks, several ETFs are an option.
Cathie Wood Fund Picks Tesla For AI Exposure
Ark Invest CEO Cathie Wood chooses her longtime favorite Tesla as an AI play.
"Tesla, at six times revenues, is the most obvious beneficiary of the recent breakthroughs in AI," she said in a tweet, according to a Barron's article.
Her ARK Autonomous Technology & Robotics ETF is Tesla top-heavy, with 13.46% of the fund in the EV maker. The second-largest holding is UiPath, which develops AI-powered business automation systems.
ARKQ has gained 20% this year, but is still 18% off its 52-week high and 50% off it's all-time high of 101.11 in November 2021.
Wisdom Tree Artificial Intelligence and Innovation Fund topped a 17.66 buy point and is in the 5% buy zone to 18.54 from a double-bottom base. The fund trades a thin 72,000 shares on average each day. Nvidia is its largest holding, at 3%.
AI-related ROBO Global Robotics is in buy range after climbing above a 54.87 buy point Friday. The buy range goes to 57.61.
At a 2.3% weighting, the largest holding is the da Vinci surgical robot maker Intuitive Surgical. It also has a 1.67% NVDA position.
Other AI-Stock ETFs
- Global X Robotics is extended from a flat base. Intuitive Surgical and Nvidia make up nearly 20% of the fund.
- BOTZ is more liquid than some of the other AI ETFs, with a daily average volume of nearly 845,000 shares.
- iShares Robotics & AI ETF is nearing the 31.48 buy point of a flat base. Its top two AI holdings are Facebook parent Meta Platforms and Nvidia.
- iShares Exponential Technologies is building the right side of a cup base and is about 5% from the 56.24 entry.
- iShares U.S. Technology is extended from a flat base with 89.44 buy point. The fund includes Big Tech names including Nvidia, a 6% holding. Apple and Microsoft are its largest holdings, more than 17% each.
- Global X Artificial Intelligence & Technology ETF is extended from a flat base with a 24.74 buy point. Its top two AI holdings are META and NVDA.
Follow Kimberley Koenig for more stock news on Twitter @IBD_KKoenig.
