Initial public offering, or IPO, season has returned in force, and one of the most closely watched debuts recently has been Cerebras Systems Inc. (ticker: CBRS). The AI chipmaker began trading on the Nasdaq exchange on May 14 and closed that day with a market cap just shy of $100 billion.
Cerebras specializes in application-specific integrated circuits, or ASICs. These are custom-built chips designed for specialized computing tasks, and for AI workloads they can deliver advantages in speed, efficiency and power consumption compared to more generalized processors.
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According to CNBC, Cerebras will face stiff competition from in-house ASICs developed by some of the Magnificent Seven stocks, notably Alphabet Inc. (GOOG, GOOGL), Amazon.com Inc. (AMZN), Meta Platforms Inc. (META) and Microsoft Corp. (MSFT). All four companies are prominent members of the Nasdaq-100 index, a benchmark composed of the 100 largest nonfinancial companies listed on the Nasdaq exchange.
Historically, the Nasdaq’s reputation for attracting growth-oriented and technology-focused firms has given the index a strong innovation tilt. However, investors buying a Nasdaq-100 ETF today are not necessarily getting pure-play AI exposure. The benchmark also includes many decidedly non-AI companies, including Walmart Inc. (WMT), Costco Wholesale Corp. (COST), PepsiCo Inc. (PEP) and Starbucks Corp. (SBUX).
Investors looking for more concentrated AI exposure, including potential future entrants like Cerebras, may therefore prefer thematic AI exchange-traded funds, or ETFs, instead. These ETFs typically either rely on active managers and research analysts to pick AI stocks, or track custom-built AI indexes.
“We believe it is critical to approach investing in generative AI companies with an actively managed approach,” says Thomas DiFazio, ETF strategist at Roundhill Investments. “The AI landscape is rapidly evolving, and it is crucial to be nimble.”
In exchange for that more targeted exposure, investors usually face higher expense ratios and, in some cases, greater concentration risk. Still, for investors seeking focused exposure to AI rather than broad technology exposure, these ETFs can provide a more direct way to express that thesis.
“We’re still in the early stages of the AI cycle, and proper diversification is extremely important — be it across company stages or geographies — because it’s difficult to pick a winner or two this early,” says Tejas Dessai, director of thematic research at Global X ETFs. “With a thematic ETF, you’re following an idea as opposed to a complex strategy.”
Here are six of the best AI ETFs to buy today:
| ETF | Expense Ratio |
| Global X Artificial Intelligence & Technology ETF (AIQ) | 0.68% |
| Roundhill Generative AI & Technology ETF (CHAT) | 0.75% |
| VistaShares Artificial Intelligence Supercycle ETF (AIS) | 0.75% |
| Xtrackers Artificial Intelligence and Big Data ETF (XAIX) | 0.35% |
| KraneShares Artificial Intelligence & Technology ETF (AGIX) | 0.99% |
| REX AI Equity Premium Income ETF (AIPI) | 0.65% |
Global X Artificial Intelligence & Technology ETF (AIQ)
“When you think about smartphones, laptops or even mobile applications, lower prices and cheaper development costs didn’t shrink the market but expanded it as innovation accelerated,” Dessai says. “AI could follow the same trajectory, embedding itself into the physical world, from factories and drones to delivery vans and buildings.” This thesis can be expressed with AIQ at a 0.68% expense ratio.
AIQ is Global X’s largest AI-themed ETF, at $9.5 billion in assets. It tracks a benchmark of 84 global AI companies represented by the Indxx Artificial Intelligence & Big Data Index. About 75% of the ETF’s portfolio is dominated by technology sector companies, with a notable 8.8% allocation to South Korean tech firms such as SK hynix Inc. (0660.KS) and Samsung Electronics Co Ltd. (5930.KS).
Roundhill Generative AI & Technology ETF (CHAT)
“CHAT actively selects stocks using a proprietary methodology that combines a transcript score and sector score to evaluate companies’ relevance to generative AI, factoring in their revenue, profit and R&D investment in AI technologies,” explains Dave Mazza, CEO at Roundhill Investments. “Companies are then scored and selected based on their exposure to AI, market capitalization and liquidity.”
Year to date, CHAT is up 41.7% on a price return basis, well ahead of the Invesco QQQ Trust (QQQ), at 14.1%. Much of that outperformance has come from CHAT’s concentrated portfolio of just 43 holdings, including major positions in Magnificent Seven companies alongside sizable allocations to Korean semiconductor firms such as SK hynix and Samsung Electronics. The ETF charges a 0.75% expense ratio.
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VistaShares Artificial Intelligence Supercycle ETF (AIS)
Investors may notice that some passive AI index funds now charge fees close to actively managed competitors. As a result, one of the traditional drawbacks of active management, namely substantially higher fees, has become less pronounced in the AI space. Even so, investors may still want to diversify across different active ETF managers. AIS competes directly with CHAT for the same 0.75% fee.
AIS uses a “bill of materials” methodology, where an investment committee evaluates stock inclusion based on their tangible role in the AI value chain. So far, that approach has helped AIS capture several major drivers of AI outperformance. The ETF currently holds an 11% allocation to SK hynix alongside a 7.1% position in Micron Technology Inc. (MU), which has surged 144.8% in price year to date.
Xtrackers Artificial Intelligence and Big Data ETF (XAIX)
Cost-conscious investors can still find attractively priced AI ETFs. One example is XAIX, which charges a 0.35% expense ratio. That is less than half the cost of actively managed competitors like CHAT and AIS. For a $10,000 investment, XAIX would incur roughly $35 annually in fee drag versus about $75 for CHAT or AIS. This ETF passively tracks the Nasdaq Global Artificial Intelligence and Big Data Index.
One of this benchmark’s more notable features is its forward-looking patent screen used to identify eligible companies. The methodology attempts to capture innovative firms investing heavily in research and development activity. Over time, stronger R&D investment can potentially translate into higher long-term sales growth and competitive advantages. XAIX currently sits at $140 million in assets.
KraneShares Artificial Intelligence & Technology ETF (AGIX)
Cerebras Systems’ IPO established a high valuation benchmark for private AI companies, but one firm many analysts believe could eventually exceed it is Anthropic. While still privately held, market observers have speculated that a future Anthropic IPO could command a valuation approaching or even exceeding $1 trillion, potentially making it one of the largest technology sector offerings ever.
For now, though, investors can still gain exposure to private AI firms through certain thematic ETFs. One notable example is AGIX. The ETF currently includes a 1.7% allocation to Anthropic alongside a combined 2.6% position in SpaceX through both special-purpose vehicles and Class A shares. The ETF’s newest private holding is AI self-driving startup Nuro Inc., at 0.7%. AGIX charges a 0.99% expense ratio.
REX AI Equity Premium Income ETF (AIPI)
Investing in AI stocks can involve substantial volatility driven by earnings reports, competitive developments, product launches and shifts in market sentiment. Because many AI companies also trade at elevated valuations, market expectations tend to be very sensitive to new information. Even small changes in growth forecasts or profit margins can therefore lead to outsized swings in share prices.
Some investors attempt to monetize that volatility through options income ETFs such as AIPI. The ETF owns AI-related stocks while selling covered-call options against them, generating premiums influenced by elevated implied volatility in the sector. In exchange, investors sacrifice upside potential if AI stocks rally sharply. AIPI currently delivers a high 34.8% distribution yield with monthly payouts.
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6 of the Best AI ETFs to Buy for 2026 originally appeared on usnews.com
Update 05/20/26: This story was published at an earlier date and has been updated with new information.
