The ARK Autonomous Technology & Robotics ETF (ARKQ) , on the other hand, had Nvidia as its ninth-largest position, with its stake in Tesla four-times larger as of Wednesday's close.
There will likely be more AI ETFs hitting the market in coming months to meet the trend.
Some small new funds include the Roundhill Generative AI & Technology ETF (CHAT) , which launched last week, and the VanEck Robotics ETF (IBOT) , which launched in April.
Other places to look Another tactic for investors could be to look for actively managed growth funds, which will be looking for ways to play the AI boom.
To bet on AI without doubling down on megacap tech, investors could look for other thematic plays that could benefit from the new technology.
Persons:
Jay Jacobs
Organizations:
Nvidia, Microsoft, Global, Robotics, Intelligence, Autonomous Technology & Robotics, Technology, VanEck Robotics, Blackrock, CNBC
Locations:
U.S