Roundhill Investments has filed with the SEC for a new exchange-traded fund built around one of the fastest-growing corners of AI infrastructure: companies that rent out GPU capacity to enterprises hungry for machine learning compute.
The Roundhill Neocloud ETF, proposed under the ticker $NCLD, would target so-called “Neocloud Companies,” a category of specialized cloud operators that prioritize raw GPU horsepower over the broader, general-purpose services offered by traditional hyperscalers like AWS, Azure, and Google Cloud.
What exactly is a Neocloud?
Neocloud providers focus on high-density AI data centers, GPU-as-a-Service platforms, power infrastructure, and high-speed networking technologies capable of supporting complex AI workloads efficiently and at lower cost.
The GPU-as-a-Service model, sometimes abbreviated GPUaaS, lets companies access powerful GPU clusters on demand without buying and maintaining the hardware themselves.
