5 Best AI ETFs To Invest In 2024

In this article, we discuss 5 best AI to invest in 2024. If you want to read our discussion on the artificial intelligence industry, head directly to 12 Best AI ETFs To Invest In 2024. 

5. Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ)

YTD Share Price Gain as of March 8: 18.69%

Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) aims to invest in companies positioned to benefit from the growing adoption of robotics and artificial intelligence, covering areas such as industrial robotics, automation, non-industrial robots, and autonomous vehicles. Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) seeks to mirror the price and yield performance of the Indxx Global Robotics & Artificial Intelligence Thematic Index. Established in September 2016, the ETF offers an expense ratio of 0.69% and holds net assets of $3.39 billion as of March 7, 2024, with a portfolio comprising 42 stocks. It is one of the best AI ETFs to invest in. 

Intuitive Surgical, Inc. (NASDAQ:ISRG) is one of the top holdings of Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ). The company focuses on developing, manufacturing, and marketing products that enable healthcare providers to enhance the quality and accessibility of minimally invasive care globally. On January 23, Intuitive Surgical, Inc. (NASDAQ:ISRG) reported a Q4 non-GAAP EPS of $1.60 and a revenue of $1.93 billion, outperforming Wall Street estimates by $0.11 and $30 million, respectively. 

According to Insider Monkey’s fourth quarter database, 82 hedge funds were bullish on Intuitive Surgical, Inc. (NASDAQ:ISRG), compared to 78 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company. 

Baron Health Care Fund stated the following regarding Intuitive Surgical, Inc. (NASDAQ:ISRG) in its fourth quarter 2023 investor letter:

“Additional tailwinds to performance came from robotic surgical system pioneer Intuitive Surgical, Inc. (NASDAQ:ISRG). We believe Intuitive Surgical will continue to innovate and launch new products that enhance surgical outcomes, and we think the company has a long runway for growth.

Intuitive Surgical, Inc. sells the da Vinci surgical robotic system for minimally invasive surgical procedures. The stock rose on investor speculation that the company could launch a new robotic system in 2024. We believe Intuitive Surgical will continue to innovate and launch new products that enhance surgical outcomes, and we think the company has a long runway for growth.”

4. QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (NYSE:AMOM)

YTD Share Price Gain as of March 8: 19.19%

QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (NYSE:AMOM), established on May 21, 2019, is an actively managed fund that invests in AI technology. As of March 7, 2024, the ETF has an expense ratio of 0.75%, with net assets totaling $16.62 million. QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (NYSE:AMOM)’s portfolio comprises 50 stocks. It is one of the best ETFs to buy. 

Broadcom Inc. (NASDAQ:AVGO) is one of the biggest holdings of QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (NYSE:AMOM). On March 8, Broadcom Inc. (NASDAQ:AVGO) declared a $5.25 per share quarterly dividend, in line with previous. The dividend is payable on March 29, to shareholders on record as of March 21. 

According to Insider Monkey’s fourth quarter database, 91 hedge funds were bullish on Broadcom Inc. (NASDAQ:AVGO), compared to 87 funds in the earlier quarter. William Von Mueffling’s Cantillon Capital Management is a prominent stakeholder of the company, with 926,276 shares worth over $1 billion. 

Carillon Eagle Growth & Income Fund stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its fourth quarter 2023 investor letter:

“Broadcom Inc. (NASDAQ:AVGO) traded higher after closing on its acquisition of VMware. The company also announced earnings that were relatively in line with estimates with some benefit of better operating expenses. The stock appears to be one of the first real beneficiaries of generative artificial intelligence (AI) with meaningful revenue expected to show up in 2024.”

3. Themes Generative Artificial Intelligence ETF (NASDAQ:WISE)

YTD Share Price Gain as of March 8: 20.43%

Themes Generative Artificial Intelligence ETF (NASDAQ:WISE) aims to mirror the Solactive Generative Artificial Intelligence Index, investing in companies generating revenue from areas like artificial intelligence, data analytics and big data, natural language processing, and AI-driven services. Established on December 8, 2023, the ETF has an expense ratio of 0.35%, and its portfolio comprises 41 stocks. It is one of the best AI ETFs to monitor. 

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest holdings of Themes Generative Artificial Intelligence ETF (NASDAQ:WISE). In the first quarter of 2024, Amazon forecasts net sales to range from $138 billion to $143.5 billion, representing an anticipated growth of 8% to 13% compared to the first quarter of 2023. Meanwhile, the Street consensus estimate is $142.17 billion.

According to Insider Monkey’s fourth quarter database, 293 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN), compared to 286 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of the company, with 41.78 million shares worth $6.3 billion. 

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”

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.”

1. Invesco AI and Next Gen Software ETF (NYSE:IGPT)

YTD Share Price Gain as of March 8: 23.49%

Invesco AI and Next Gen Software ETF (NYSE:IGPT) tracks the performance of the STOXX World AC NexGen Software Development Index, which includes companies with substantial exposure to technologies contributing to future software development. The ETF, established on June 23, 2005, and rebalanced quarterly, has a net expense ratio of 0.60%. As of March 7, 2024, its portfolio comprises 100 stocks. Invesco AI and Next Gen Software ETF (NYSE:IGPT) ranks 1st on our list of the best AI ETFs. 

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the top holdings of Invesco AI and Next Gen Software ETF (NYSE:IGPT). It is a global technology company focusing on the development and commercialization of foundational wireless technologies. On March 5, QUALCOMM Incorporated (NASDAQ:QCOM) declared a $0.85 per share quarterly dividend, a 6.3% increase from its prior dividend of $0.80. The dividend increase will take effect for quarterly dividends paid after March 21, 2024, resulting in an annualized dividend payout of $3.40 per share.

According to Insider Monkey’s fourth quarter database, 78 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM), compared to 67 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a prominent stakeholder of the company, with nearly 3 million shares worth $431.4 million. 

Madison Sustainable Equity Fund stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth quarter 2023 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) also reported a solid fourth fiscal quarter with better than expected results. The company guided the first quarter ahead of expectations despite headwinds from Samsung as the inventory headwinds dissipate. Qualcomm remains well positioned in the mobile handset market and should benefit as Artificial Intelligence moves to edge devices which could drive an upgrade cycle.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 13 Oil Stocks with Biggest Upside and 12 Best Space Stocks To Buy According To Hedge Funds.