Purpose Investments launches new ETFs amid AI enthusiasm
BNN Bloomberg
Purpose Investments Inc. is launching two single-stock exchange-traded funds (ETFs) looking to capitalize on growth in the AI sector.
The Toronto-based investment services company on Thursday announced its new NVIDIA Yield Shares Purpose ETF and the Microsoft Yield Shares Purpose ETF on Thursday.
The indexes, listed on the Cboe Canada exchange, aim to offer targeted exposure to Nvidia Corp. and Microsoft Corp, two companies that have benefited from skyrocketing investor appetite for game-changing artificial intelligence technology.
“We’re in the midst of the next technological revolution with AI, and Nvidia and Microsoft are at the forefront of this movement,” Vlad Tasevski, head of asset management at Purpose Investments, said in a Thursday press release.
