Global X to launch Australia’s first pure play AI ETF
The launch of an ETF often signals the top in an underlying market. Australia's first pure play AI ETF will have a chance to buck the trend.
It’s often said that the arrival of a thematic exchange-traded fund can mark the very top of a sector, but artificial intelligence will now have the chance to buck the trend.
ETF provider Global X will launch GXAI, the first pure play AI ETF in Australia, on Wednesday.
Unlike other hype cycles that have quickly fallen over, the market's enthusiasm for the technology and its broad business implications is showing few signs of abating.
“Would we have loved to have this in the market six months ago? Absolutely. But the opportunity hasn’t changed. I think we still probably don’t fully appreciate how revolutionary AI is going to become,” Global X Australia CEO Evan Metcalf told Capital Brief.
