Hong Kong: China's E Fund CSI Artificial Intelligence (AI) Thematic ETF reached a milestone with Assets Under Management (AUM) approaching US$617 million December 13, 2023.
Managed by E Fund Management ("E Fund" or "the Company"), the largest fund management company with offices in mainland China and Hong Kong, this ETF tracks the CSI Artificial Intelligence Index, which composed of 50 leading companies across artificial intelligence value chain in China.
Established in 2001, E Fund Management Co Ltd ("E Fund") is a leading comprehensive fund manager in China with over RMB 3 trillion (USD 420 billion) under management.
The recent AI hype has sparked a sense of excitement among investors and the E Fund CSI Artificial Intelligence Thematic ETF recorded a remarkable weekly inflow of US$14 million in December.
Globally, the growing momentum of AI was mainly driven by rapid advancement in large language models and expanded hardware opportunities. On November 6th this year, OpenAI released the new GPT-4 Turbo model which is more capable, supporting a 128K context window, and has knowledge of world events up to April 2023. To help developers scale applications, GPT-4 Turbo demonstrated improvement in lower prices and higher rate limits.
Meanwhile, major breakthrough in hardware devices was observed with the launch of the AI pin, a digital personal assistant housed in a tiny piece of hardware that can clip to a wearer's clothes. Powered by large language AI models from OpenAI and a Qualcomm Snapdragon processor, the gadget can serve as a smartphone alternative, to send text, take photos and interact with ChatGPT-like virtual assistant.
In China, the trajectory of AI development, particularly regarding self-developed large language models and computing power, is ramping up. The domestic industry's full potential is yet to be tapped.
As supportive policy incentives take shape, fostering an enabling environment for AI-led innovation, it is believed that investors can unlock opportunities with AI-themed ETFs to gain exposure to companies at the forefront of artificial intelligence revolution.
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