Inflows into exchange-traded funds (ETFs) tracking artificial intelligence (AI) companies have ebbed after their sharp run-up earlier this year, as investors fear persistently high U.S. interest rates will hurt company valuations. The Global X Robotics & Artificial Intelligence ETF received $1.8 million in net inflows in September after sharp outflows in the prior month, while the smaller ROBO Global Robotics & Automation Index ETF saw outflows of $14.3 million. On the whole, AI and robotics focused ETFs had a strong start to 2023 after the release of Chat GPT-4, taking in over $1.9 billion through the first three quarters of the year, said Aniket Ullal, ETF data and analytics head at CFRA Research.
- Inflows into exchange-traded funds tracking artificial intelligence companies have ebbed after their sharp run-up earlier this year, as investors fear persistently high U.S. interest rates will hurt company valuations.
On the whole, AI and robotics focused ETFs had a strong start to 2023 after the release of Chat GPT-4, taking in over $1.9 billion through the first three quarters of the year, said Aniket Ullal, ETF data and analytics head at CFRA Research. Retail investor flows into the sector have also cooled as the initial fervor surrounding AI wanes. September saw the lowest net monthly retail flows of $1.96 billion into AI-linked stocks since April, according to Vanda Research.
"It is possible this negative sentiment could reverse again in Q4, particularly if large cap tech stocks like Nvidia held in AI-themed tech ETFs continue to show strong earnings growth," CFRA's Ullal added.Becoming a millionaire is a dream for many, and the path to getting there takes discipline and patience, especially when coupled with sticky inflation and soaring rates. Money Expert Jaspreet...
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