Roundhill Investments has made history via the launch of its first ever generative AI exchange-traded fund (ETF). The ETF, known as CHAT, began trading on the New York Stock Exchange this week. This fund provides investors with an opportunity to gain exposure to the growing field of generative AI.
Generative AI is a technology with revolutionary potential that can be applied to different industries to transform them. Already, OpenAI’s ChatGPT has seen over 100 million users and is being incorporated into businesses to upgrade their operations. Goldman Sachs estimates that AI in general could generate $7 trillion in economic growth in the next seven years alone due to its significant impact on productivity.
Roundhill Investments has taken note of the rapidly growing market for generative AI and related technologies and has estimated its addressable market to be higher than 120 billion dollars in a decade. Until now, there have been limited options for investors to invest in this new field.
The launch of the CHAT ETF signals the rapid growth and magnitude of the potential of generative AI – a milestone in the expansion of the technology that could shape the way businesses and economies operate in the years to come.
Roundhill Investments is an asset management firm that focuses on delivering superior risk-adjusted returns through long-term investing. It was founded in 2010 by chief investment officer Tim Maloney. Maloney is a consultant and advisor for venture capitalists, private equity and the healthcare industry, and has a strong background in digital transformation and disruptive technologies.
Matthew Kanterman, the director of research at Roundhill Investments, is an expert in the emerging generative AI field with a strong understanding of its potential for the future. He has been behind the development of the ETF and expressed his excitement at the launch, saying “It really starts to get exciting.”
