5 Best AI ETFs To Invest In 2024

2. Roundhill Generative AI & Technology ETF (NYSE:CHAT)

YTD Share Price Gain as of March 8: 21.93%

Roundhill Generative AI & Technology ETF (NYSE:CHAT) holds the belief that generative artificial intelligence will be a highly impactful technological innovation, fostering productivity growth globally in the coming decades. Roundhill Generative AI & Technology ETF (NYSE:CHAT) is an actively managed ETF, featuring an expense ratio of 0.75% as of March 8, 2024, and a portfolio consisting of 51 stocks. The assets under management for Roundhill Generative AI & Technology ETF (NYSE:CHAT) amount to $134 million. It is one of the best AI ETFs to buy. 

Alphabet Inc. (NASDAQ:GOOG) is one of the top holdings of Roundhill Generative AI & Technology ETF (NYSE:CHAT). On February 15, Google introduced Gemini 1.5, its advanced AI model featuring significantly improved performance, an extended context window, and enhanced understanding capabilities.

According to Insider Monkey’s fourth quarter database, 166 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG), compared to 163 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 45.17 million shares worth $6.3 billion. 

The FPA Crescent Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its fourth quarter 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) continued going from strength to strength during 2023 despite concerns that competition may infringe on the company’s dominant position in Search. Thus far, Alphabet has continued to hold its own, and we look forward to seeing how the company incorporates further AI developments across the Alphabet ecosystem. Lastly, we are hopeful that the impending arrival of a new CFO will bring a renewed focus on efficiency – an area where we believe Alphabet has ample room for improvement.”

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