AI infrastructure spending has continued to accelerate into 2026. Bank of America recently raised its 2026 semiconductor market forecast to $1.3 trillion, highlighting NVIDIA, Broadcom, and Marvell as the primary beneficiaries. Capital is flowing rapidly into data centers, semiconductor fabrication plants, and AI software, reshaping entire supply chains in the process.
For investors seeking exposure to this buildout without selecting individual stocks, three ETFs offer meaningfully different ways to participate in the same broad theme.
A Broad, Unconstrained Index Play on AI and Big Data
Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) tracks the Indxx Artificial Intelligence & Big Data Index, which casts a deliberately wide net. The fund holds 88 companies across semiconductors, cloud infrastructure, consumer tech, and enterprise software, with no geographic or sector constraints. That breadth is the defining characteristic here.
The top holdings reflect the full AI value chain rather than a concentrated bet on any single layer. SK Hynix, Samsung Electronics, Netflix, Broadcom, Micron, Taiwan Semiconductor, Cisco, NVIDIA, Apple, and Amazon all appear in the top ten, spanning memory chips, foundry services, streaming infrastructure, and consumer hardware. The sector breakdown tilts heavily toward information technology at 64%, with communication services at 13% and consumer discretionary at 10%.
The expense ratio of 0.68% is the highest of the three funds covered here, which is the cost of the index’s broad, multi-sector mandate. AIQ has returned 51% over the past year and about 3% year to date, a more modest YTD figure than the other two funds, partly reflecting its more diversified exposure to names that have lagged the semiconductor-heavy rally of early 2026.
The trade-off is that AIQ’s breadth dilutes direct exposure to AI infrastructure. A fund that includes consumer tech names alongside semiconductor leaders is broadly capturing the AI theme, but an investor who wants tighter semiconductor concentration will find the portfolio too diffuse.
Active Management With a Hardware-First Conviction
iShares A.I. Innovation and Tech Active ETF (NYSE:BAI) is the newest of the three, having launched in October 2024, and it is the only actively managed fund in this group. BlackRock’s managers explicitly target what the prospectus calls the “AI tech stack”: infrastructure, intelligence, and apps and services. The distinction matters because the portfolio reflects deliberate conviction rather than index-driven inclusion.
The top holdings are weighted toward the picks-and-shovels layer of AI. NVIDIA at about 7%, Broadcom at about 6%, and Taiwan Semiconductor at about 5% lead the fund, followed by cloud and enterprise software platforms, data center suppliers, and chip designers. The fund also holds a private position in Anthropic Series G preferred equity, a detail that illustrates how far the active mandate extends beyond what any passive index can replicate. Information technology represents 79% of the portfolio, with communication services at 10% and industrials at 7%.
Geographically, the fund is 59% U.S.-weighted, with Taiwan at 13%, South Korea at 7%, and Israel at 4%, giving it meaningful exposure to Asian semiconductor manufacturing without overweighting it. The expense ratio is 0.55%, and total net assets stand at $9.1 billion.
Performance has been the standout in this group, as BAI is up nearly 18% year to date and about 89% over the past year since its inception in late 2024. The portfolio turnover of 0.56 is moderate for an active fund, suggesting the managers are not trading aggressively but are making deliberate allocation shifts as the AI landscape evolves.
The caveat is the short track record, as BAI has existed through a period of sustained AI enthusiasm, and investors have no data on how the fund’s active decisions perform through a prolonged drawdown. The private equity position also introduces illiquidity that a purely passive fund would not carry.
Concentrated Semiconductor Exposure With Global Reach
iShares Future AI & Tech ETF (NYSEARCA:ARTY) tracks an index focused on companies expected to contribute to AI technologies across generative AI, data infrastructure, AI software, and AI services. The fund has been running since June 2018 and carries a net expense ratio of 0.47%, the lowest of the three. Net assets are approximately $2.1 billion.
What distinguishes ARTY from the other two funds is the concentration of its semiconductor and AI infrastructure positions. Cloud computing, memory, enterprise software, and chip design leaders are all top holdings, each representing roughly 4% to 5% of the portfolio. Information technology accounts for 82% of the fund. The portfolio also includes a roughly 3% exposure to power and energy infrastructure, reflecting data center power demand, which has become an embedded part of the AI infrastructure thesis.
The international exposure is notably deep. Holdings include South Korean memory chipmakers, South Korean internet platforms, Taiwanese chip designers, and European data center power infrastructure suppliers. This global supply chain coverage gives ARTY a different risk profile from that of a U.S.-centric fund.
ARTY has gained nearly 17% year to date and 84% over the past year. The portfolio turnover of 1.19 is high relative to the other two funds, meaning the index rebalances frequently as AI-relevant companies enter and exit the methodology. That creates more transaction costs than the turnover figures for AIQ or BAI and can generate taxable events in non-sheltered accounts.
How the Three Funds Differ in Structure and Risk
AIQ provides the broadest AI-themed exposure of the three, spanning both consumer-facing companies and diversified technology platforms. It carries a higher expense ratio of 0.68% and has the longest track record, dating back to 2018.
BAI uses an active management approach in the fast-moving AI sector. Launched in late 2024, it has a short performance history and a modest expense ratio of 0.55%. Its portfolio can shift allocations as market conditions evolve.
ARTY delivers the most direct and concentrated exposure to semiconductors and AI infrastructure through a passive index. It has the lowest expense ratio of the three at 0.47%, but its high portfolio turnover and heavy weighting in hardware stocks cause it to move sharply when AI sentiment shifts.
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