Mirae Asset launches new AI Active ETF

[Courtesy of Mirae Asset]

South Korea’s Mirae Asset Global Investments Co. announced Wednesday the launch of TIGER Global AI Active, a new exchange-traded fund (ETF).

The ETF is designed to provide investors with a focused avenue for investment in selected global artificial intelligence (AI) leaders. The AI industry spans hardware, software, and services, with different segments benefiting at various points in time.

The new ETF aims to concentrate investments on the most promising AI companies based on the current market dynamics, the company said.

The ETF’s comparative index is the Indxx Artificial Intelligence & Big Data Index, consisting of about 50 companies from 25 countries, including the United States, China, Europe, and Japan. Among the major companies featured in this index are industry giants like NVIDIA, Microsoft, Tesla, Alphabet (Google), and Amazon.