American asset manager BlackRock (BLK) is launching two new exchange-traded funds (ETFs) that give investors exposure to artificial intelligence (A.I.).
BlackRock is tapping into investor demand for generative A.I. with its iShares AI Innovation and Tech Active ETF and iShares Technology Opportunities Active ETF.
BlackRock is the world’s largest asset manager with more than $11 trillion U.S. of assets under management.
The company said its newest ETFs will invest in companies that are focused on the semiconductors, software, and hardware that drive A.I. technologies.
The A.I. ETFs are the latest example of BlackRock responding to investor demand.
Earlier this year, the company launched popular ETFs that track the spot prices of cryptocurrencies Bitcoin (BTC) and Ethereum (ETH).
A.I.-focused stocks continue to be some of the best-performing securities, with names such as Nvidia (NVDA) having more than doubled in the last year.
BlackRock’s own stock has increased 25% so far in 2024 and currently trades at $1,000.81 U.S. per share.
