5 Best AI ETFs To Invest In 2024

3. Themes Generative Artificial Intelligence ETF (NASDAQ:WISE)

YTD Share Price Gain as of March 8: 20.43%

Themes Generative Artificial Intelligence ETF (NASDAQ:WISE) aims to mirror the Solactive Generative Artificial Intelligence Index, investing in companies generating revenue from areas like artificial intelligence, data analytics and big data, natural language processing, and AI-driven services. Established on December 8, 2023, the ETF has an expense ratio of 0.35%, and its portfolio comprises 41 stocks. It is one of the best AI ETFs to monitor. 

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest holdings of Themes Generative Artificial Intelligence ETF (NASDAQ:WISE). In the first quarter of 2024, Amazon forecasts net sales to range from $138 billion to $143.5 billion, representing an anticipated growth of 8% to 13% compared to the first quarter of 2023. Meanwhile, the Street consensus estimate is $142.17 billion.

According to Insider Monkey’s fourth quarter database, 293 hedge funds were long Amazon.com, Inc. (NASDAQ:AMZN), compared to 286 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of the company, with 41.78 million shares worth $6.3 billion. 

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”

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