BlackRock launches two new ETFs that tackle AI and growth opportunities

BlackRock (BLK) on Tuesday bolstered its exchange-traded fund lineup with the launch of two new actively managed funds centered on technology growth and artificial intelligence (AI).

The world’s largest asset manager said it believes the long-term impact of AI will be “profound” despite it still being in early stages.

“We are at the dawn of an intelligence revolution,” Tony Kim, Head of the Fundamental Equities Technology Group at BlackRock (BLK), said in a statement. “These active ETFs can help investors seize outsized and overlooked investment opportunities across the full stack of AI and advanced technologies.”

See information about the two ETFs below:

iShares A.I. Innovation and Tech Active ETF (NYSEARCA:BAI)

• Fund Objective: Invests in a concentrated portfolio of 20-40 global AI and technology stocks across all markets.
• Number of Holdings: 34
• Top Three Holdings: Nvidia (NVDA), Meta Platforms (META), and Microsoft (MSFT).
• Expense Fee: 0.68%.

iShares Technology Opportunities Active ETF (NYSE:TEK)

• Fund Objective: Invests in global technology companies across semiconductors, software, hardware, internet, services, content and infrastructure, and new industries.
• Number of Holdings: 57
• Top Three Holdings: Nvidia (NVDA), Microsoft (MSFT), and Apple (AAPL).
• Expense Fee: 0.75%.

BAI and TEK will be the latest ETFs to join several existing funds that are focused on AI and technology, including:

• KraneShares Artificial Intelligence and Technology ETF (AGIX)
• GX Artificial Intelligence & Tech ETF (AIQ)
• GX Robotics & Artificial Intelligence ETF (BOTZ)
• ALPS Disruptive Technologies ETF (DTEC)
• First Trust NASDAQ Artificial Intelligence and Robotics ETF (ROBT)
• Robo Global Artificial Intelligence ETF (THNQ)
• Roundhill Generative AI & Technology ETF (CHAT)