AI and Robotics ETF (CHAT) Hits New 52-Week High
For investors seeking momentum, Roundhill Generative AI & Technology ETF CHAT is probably on the radar. The fund just hit a 52-week high and is up 49.44% from its 52-week low price of $25.14/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
CHAT in Focus
The fund employs an active strategy, providing exposure to companies involved in the investment theme of artificial intelligence, generative artificial intelligence and related technologies. The product charges 75 bps in annual fees (see: all Artificial Intelligence And Robotics ETF).
Why the Move?
The potential of AI to revolutionize global productivity and GDP is immense. Most tech giants are coming up with expansion plans on AI and intend to take the growth momentum forward.The global AI market is forecast to reach a valuation of $826.70 billion in 2030 at a CAGR of 28.46% from 2024 to 2030, according to Statista.
Notably, AI has infiltrated numerous sectors across our society. It has made its mark in healthcare, transportation, entertainment and cybersecurity, transforming and revolutionizing these industries. Increasing corporate spending on AI and recent upbeat corporate earnings also act as a tailwind for the fund.
More Gains Ahead?
CHAT might continue its strong performance in the near term, with a positive weighted alpha of 35.16, which gives cues of a further rally.
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Roundhill Generative AI & Technology ETF (CHAT): ETF Research Reports
