An early bet on artificial intelligence thanks to a simple investment framework is helping the T. Rowe Price's Global Technology Fund (PRGTX) outperform the market for a second straight year.
"Our framework led us to be early to this AI trend, [and] led us to be early to the chip intensity of this AI trend."
That's due in part to its winning bets in AI names and semiconductor stocks – many of which have outperformed the S & P 500 and Nasdaq Composite .
Early bets on AI Key to the $4.5 billion fund's recent success has been early positions in AI stocks and chipmaking darling Nvidia .
The AI leader — added to the fund at the end of 2021 — today accounts for nearly 18% of the portfolio.
Persons:
Rowe, Dominic Rizzo, Rizzo, Rowe Price lifer, —, Rizzo's, Siri, Morningstar
Organizations:
Global Technology Fund, Nasdaq, Nvidia, Taiwan Semiconductor Manufacturing, Devices, ASML, Apple, Microsoft, University of Chicago Booth School, Business, Worldwide Developers, Apple Intelligence, SAP