The race to build the next blockbuster artificial intelligence (AI) ETF is heating up.
ProShares has filed with the Securities and Exchange Commission to launch the ProShares FAB 10 ETF, a fund designed to track an equal-weight basket of companies at the forefront of the AI revolution.
According to the filing, the ETF is expected to become effective on Sep 1 and would hold a mix of established technology giants including Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT), Amazon.com, Inc (NASDAQ:AMZN), Meta Platforms, inc (NASDAQ:META), Tesla Inc (NASDAQ:TSLA), Alphabet, Inc (NASDAQ:GOOGL), Broadcom, Inc (NASDAQ:AVGO), Oracle Corp (NYSE:ORCL), and Space Exploration Technologies Corp (NASDAQ:SPCX) or SpaceX; as well as high-profile private companies such as OpenAI, and Anthropic.
The proposed launch comes as ETF issuers search for ways to capitalize on investor enthusiasm for AI beyond the Magnificent Seven trade that has dominated market returns over the past several years.
Rather than focusing exclusively on mega-cap technology stocks, the FAB 10 ETF seeks to offer exposure across the broader AI ecosystem, spanning semiconductors, cloud infrastructure, generative AI platforms and emerging technologies.
