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.

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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