It is shaping up to be a pivotal week on Wall Street. Four members of the famous Magnificent 7 are set to report their latest quarterly results.
Releasing their numbers later this week are Apple (NASDAQ: AAPL), Amazon.com (NASDAQ: AMZN), Meta Platforms (NASDAQ: META), and Microsoft (NASDAQ: MSFT) —
These companies aren't just market heavyweights. They sit at the heart of the artificial intelligence (AI) revolution, shaping the future of technology and capturing enormous investor interest along the way.
Last week, Tesla (NASDAQ: TSLA) and Alphabet (NASDAQ: GOOG) released their results, while NVIDIA Corp (NASDAQ: NVDA) — perhaps the biggest AI story of them all — is scheduled to report on 21 May.
With so much of the AI narrative intertwined with the performance and innovation of these giants, investors are understandably keen to position themselves ahead of what could be a major catalyst for the market.
If you're looking for an easy way to gain exposure to the artificial intelligence boom — including the Magnificent 7 — the Global X Artificial Intelligence ETF (ASX: GXAI) could be a compelling option.
Image source: Getty Images
What is GXAI?
The Global X Artificial Intelligence ETF offers Australian investors a targeted way to invest in the companies leading the AI revolution.
This ASX ETF aims to track the performance of the Indxx Artificial Intelligence & Big Data Index, which focuses on companies that are either developing AI technology, using AI to enhance their products and services, or providing the hardware and infrastructure that powers AI systems.
It is a globally diversified fund that captures both familiar names and emerging players from around the world.
While GXAI's two largest holdings are Chinese tech titans Tencent and Alibaba, it also holds all members of the Magnificent 7 — meaning you gain exposure to Apple, Amazon, Meta, Microsoft, Tesla, Alphabet, and NVIDIA in one simple trade.
Why consider GXAI now?
Artificial intelligence is no longer just a futuristic buzzword. Global X highlights that the AI market was forecast to reach US$305.90 billion in 2024 and is expected to grow at a staggering 15.83% annually to hit around US$738.80 billion by 2030.
AI is rapidly moving beyond data centres and into commercial applications across a range of industries, from agriculture to health care. The fund manager also notes that forecasts suggest that over 729 million people could be using AI tools by 2030 — a dramatic rise from just 254 million users in 2023.
Global X believes that this ASX ETF is particularly well-positioned to capture this growth because it takes an unconstrained approach. It doesn't limit itself to one sector or one geography. Instead, it invests wherever the best AI opportunities emerge, whether that's Silicon Valley, the Magnificent 7, China, or elsewhere.
By holding a basket of companies leading the AI charge, investors can spread their risk while staying directly exposed to one of the most transformative trends of our time.
