In This Article:
AIVC seeks to provide equal-weighted global exposure to three types of companies integral to the AI value chain, replaces Amplify Global Cloud Technology ETF (IVES)
CHICAGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Amplify ETFs announces its newly appointed fund, the Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC). In an equal-weighted index approach, AIVC invests in a global mix of semiconductor, cloud/software and hardware companies that form the foundation of artificial intelligence (AI) technologies through the Bloomberg AI Value Chain Index.
According to forecasts, the global AI market is expected to grow from $638 billion in 2024 to $3.6 trillion by 2034.1 This growth will be driven by increased AI spending across the private sector, government initiatives and individuals. AIVC is positioned to capture these trends through its unique AI value chain focus.
AIVC uses an equal-weighted rules-based approach alongside insights from Bloomberg Intelligence analysts to identify companies that are essential to the AI ecosystem. Technologies like generative AI, machine learning, natural language processing and AI infrastructure all rely on semiconductors, hardware, and cloud software systems to operate.
“AI is fundamentally reshaping industries worldwide and AIVC provides investors with diverse exposure to companies that are the backbone of this industry," said Christian Magoon, CEO of Amplify ETFs. "Our new focus on AI and its value chain aligns this fund with one of the most compelling growth themes of the next decade."
AIVC tracks the Bloomberg AI Value Chain Index, which identifies the top 45 companies integral to AI categorized into semiconductors, hardware, and software/cloud systems. These sectors are the backbone of the AI landscape, enabling the widespread adoption of AI solutions globally. The index is powered by Bloomberg Intelligence (BI) Research, a renowned group of 400+ research professionals across 21 markets. The BI team utilizes proprietary research to evaluate data and trends for creating thematic index baskets.
The announcement of AIVC is the result of name, fee and strategy changes to the Amplify Global Cloud Technology ETF (IVES). No action is required by current shareholders as a result of this change. These changes were previously communicated via a supplement to the IVES Summary Prospectus, Statutory Prospectus and Statement of Additional Information (“SAI”), as published on August 15, 2024.
Investors can learn more about AIVC at AmplifyETFs.com/AIVC.
About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $10 billion in assets across its suite of ETFs (as of 10/11/2024). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs.