New Delhi [India] September 14: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Artificial Intelligence Index to Global X ETFs Europe as the underlying benchmark for the Global X Artificial Intelligence UCITS ETF (AIQU), which began trading on the London Stock Exchange today.
The Indxx Artificial Intelligence Index provides exposure to companies listed or incorporated in developed markets that:
Are positioned to benefit from the development and utilization of Artificial Intelligence (“AI”) technology in their products and services.
Produce hardware used in Artificial Intelligence applied for the analysis of Big Data.
Rahul Sen Sharma, President, and Co-CEO at Indxx said, “Artificial Intelligence is revolutionizing industries such as healthcare, finance, and education, driving substantial technological progress and enhancing human-machine collaboration.
This transformative shift is fuelled by a remarkable surge in investment. Q2 2024 marked the largest quarter for AI funding in recent years, with global funding for AI startups doubling quarter-over-quarter to $24 billion, representing 30% of all investments.1 In June 2024, Nvidia, a pivotal force in AI chip production, surpassed the $3 trillion market capitalization milestone.2 These figures demonstrate the extraordinary potential and rapid expansion of the AI sector. Recognizing this massive potential, major tech leaders, including Meta, Amazon, Alphabet, and Microsoft, along with venture capital firms, are also increasingly investing in the Artificial Intelligence market. We are excited to partner with Global X ETFs Europe to introduce this revolutionary strategy to the European market.”
Vaibhav Agarwal, Chief Product Officer at Indxx added, “The Indxx Artificial Intelligence Index is designed to provide a comprehensive exposure to the Artificial Intelligence industry. By including Artificial Intelligence Developers and Artificial Intelligence-as-a Service Providers as well as companies offering Artificial Intelligence Hardware and Quantum Computing, it captures key themes in the AI ecosystem. The Index leverages an exposure score framework to effectively identify leading players in the Artificial Intelligence market, thus offering a targeted exposure of the underlying theme.”
“We are dedicated to providing our investors with access to the most relevant and innovative investment themes,” said Rob Oliver, Head of Global X ETFs Europe.
“The launch of our Artificial Intelligence (AI) UCITS ETF underscores our commitment to expanding our brand in Europe and empowering investors to capitalise on sectors that are vital to the future of our continent. By focusing on AI, we are offering strong growth potential while supporting Europe’s strategic priorities for technological advancement.”
As of September 12, 2024, the index has 84 constituents. The index has been backtested to January 31, 2014, and has a live calculation date of May 28, 2024. For additional information, please see here.
About Indxx
Founded in 2005, Indxx aims to deliver innovative and custom indexing and calculation solutions to the investment management community at large.
Indxx and products tracking its indices have been nominated for and received numerous awards, including ‘Index Provider of the Year’ at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, ‘Best Index Provider – Emerging Markets ETFs’ at the ETF Express US Awards in October 2020, and ‘Most Innovative ETF Index Provider’ for the Americas at the 14th Annual Global ETF Awards in July 2018.
For more information about Indxx, please visit: indxx.com
For more information about this announcement, please contact: marketing@indxx.com
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in stocks involves risk, and past performance is not indicative of future results. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.