AI Software Takes the Lead Over Hardware
US AI Software Market Expected to Grow at 20% Annually Through 2034
Mirae Asset Global Investments announced on September 5 that it will launch the 'TIGER US AI Software TOP4Plus' Exchange Traded Fund (ETF), which focuses on investing in leading artificial intelligence (AI) software companies.
Kim Namho, Head of Global ETF Management at Mirae Asset Global Investments, said, "The US AI software market is projected to achieve an average annual growth rate of about 20% from 2024 to 2034," adding, "In the second quarter of this year, major US AI software companies recorded significant surprise earnings."
He continued, "Looking at this year's net purchase settlement amounts, Tempus AI and Palantir ranked among the top ten."
The TIGER US AI Software TOP4Plus ETF allocates 25% to Palantir, and invests 15% each in Figma, Oracle, and AppLovin. Kim explained, "We have composed the portfolio with companies that have the strongest competitiveness in AI technology," and introduced, "Palantir and Oracle together account for about 43% of the total portfolio, which is the highest proportion among domestically listed ETFs."
He added, "This is the first domestically listed passive ETF to include Figma," emphasizing, "Figma is an innovative company in the real-time collaborative design SaaS sector."
Mirae Asset Global Investments launched the 'TIGER US Philadelphia Semiconductor Nasdaq ETF' in 2021. Last year, it introduced the 'TIGER US Philadelphia AI Semiconductor Nasdaq ETF.' Reflecting the shift from hardware to software in the growth of the AI industry, the company is now listing the TIGER US AI Software TOP4Plus ETF.
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