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Alphabet Inc. (GOOG) - free report >>
Amazon.com, Inc. (AMZN) - free report >>
Microsoft Corporation (MSFT) - free report >>
Shopify Inc. (SHOP) - free report >>
Twilio Inc. (TWLO) - free report >>
First Trust Cloud Computing ETF (SKYY) - free report >>
MongoDB, Inc. (MDB) - free report >>
Zscaler, Inc. (ZS) - free report >>
Cloud ETFs Poised to Benefit from Generative AI Boom
Most sophisticated artificial intelligence models require enormous computational power, particularly since they work with massive datasets and complex algorithms. Cloud computing is essential for the development and deployment of AI.
Since most generative AI models require substantial computing power to train and run, the cloud technology is poised for a major boost from the computing demands of a generative AI boom.
Enterprise spending on cloud computing grew at a slower pace over the past few quarters as companies tried to control costs due to an economic slowdown. But according to some experts, the worst may be over now.
Many companies now prefer to rely on cloud-based service providers for highly specialized computing services so that they can focus on their core businesses.
Cloud computing is not only more secure but also cheaper than traditional systems. Additionally, it provides firms with a lot of flexibility and agility in scaling up or down their computing capacity according to business needs.
The First Trust Cloud Computing ETF (SKYY - Free Report) tracks a strength-weighted index of infrastructure, platform, and software cloud companies. Microsoft (MSFT - Free Report) , Amazon (AMZN - Free Report) and Alphabet (GOOG - Free Report) are among its top holdings.
The Global X Cloud Computing ETF (CLOU - Free Report) holds companies that are positioned to benefit from the increased adoption of cloud computing. Zscaler (ZS - Free Report) and Twilio (TWLO - Free Report) are its top holdings.
The WisdomTree Cloud Computing ETF (WCLD - Free Report) tracks an equal-weighted index of emerging companies focused on cloud software and services. MongoDB (MDB - Free Report) and Shopify (SHOP - Free Report) are the top holdings in the fund currently.
Please watch the short video above to learn more about these ETFs.
(Disclosure: Neena owns shares of CLOU in the ETF Investor portfolio.)