Addressing the audience at the Goldman Sachs Communacopia and Tech Conference, Nvidia executive Manuvir Das shared remarkable statistics concerning the artificial intelligence (AI) market, as quoted on Yahoo Finance.

According to Das, AI’s total addressable market will constitute $300 billion in chips and systems and $150 billion each in generative AI and omniverse enterprise software, with the total amounting to a staggering $600 billion. This indicates the long-term growth potential of AI.

Das emphasized that accelerated computing is still in its early stages, while traditional CPU-based computing has mostly shifted locations, being more cloud-based, rather than fundamentally evolving. With more corporate functions relying on computing, there's growing demand for data centers and energy. Nvidia is poised to leverage this shift toward digital efficiency and sustainability with its accelerated computing approach.

Growth Potential of the AI Market

In 2023, the AI frenzy is evident. Despite concerns that AI's potential was already factored into the market and would take time to materialize, Nvidia's second-quarter success tells a different story. Dan Ives from Wedbush Securities anticipates a trillion-dollar AI spending surge over the next decade, with AI's pervasive influence extending across all sectors, from healthcare to transportation, entertainment to cybersecurity, leaving an indelible mark on every industry (Read: Nvidia Earnings Show AI Boom Is Here to Stay: ETFs in Focus).

According to a report by Fortune Business Insights, the global AI market, valued at $428 billion in 2022, is set to surge from $515 billion in 2023 to an astonishing $2.03 trillion by 2030, marking a remarkable CAGR of 21.6%.

Generative AI’s Growth

Generative AI refers to a category of AI technology capable of generating diverse forms of content, such as text, images, audio, and synthetic data. According to Forbes, the rising adoption of generative AI in small businesses, driven by its cost-effectiveness and capacity to enhance various business functions such as communication, customer service and coding, suggests a brighter growth outlook for this technology.

According to a report by Fortune Business Insights, the global market for generative AI is projected to witness a CAGR of 47.5% from 2023 to 2030. Valued at $43.87 billion in 2023, the market size of the technology is expected to reach $667.96 billion by 2030.

ETFs in Focus

Below we highlight a few ETFs that can be considered to tap into the long-term growth prospect of AI (See: All Artificial Intelligence And Robotics ETF here).

Global X Robotics & Artificial Intelligence ETF (BOTZ Quick QuoteBOTZ - Free Report)

Global X Robotics & Artificial Intelligence ETF seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and AI, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. The fund charges an annual fee of 0.69%.

Global X Robotics & Artificial Intelligence ETF has amassed an asset base of $2.31 billion and has the highest allocation to Nvidia (NVDA Quick QuoteNVDA - Free Report) with a share of 14.58%. The fund has generated 29.59% year to date (as of Sep 6).

Global X Artificial Intelligence & Technology ETF (AIQ Quick QuoteAIQ - Free Report)

Global X Artificial Intelligence & Technology ETFseeks to invest in companies that potentially stand to benefit from the further development and utilization of AI technology in their products and services, as well as in companies that provide hardware facilitating the use of AI for the analysis of big data. The fund charges an annual fee of 0.68%.

Global X Artificial Intelligence & Technology ETF has amassed an asset base of $550.71 million. The fund has exposure to Alphabet (GOOGL Quick QuoteGOOGL - Free Report) and Intel (INTC Quick QuoteINTC - Free Report) with a share of 3.37% and 3.26%, respectively. These are the top two allocations of the fund. The fund has generated 43.44% year to date (as of Sep 6).

First Trust NASDAQ Artificial Intelligence And Robotics ETF (ROBT Quick QuoteROBT - Free Report)

First Trust NASDAQ Artificial Intelligence And Robotics ETF seeks to track the performance of companies engaged in AI, robotics and automation. The fund charges an annual fee of 0.65%.

First Trust NASDAQ Artificial Intelligence And Robotics ETF has gathered an asset base of $427.73 million. The fund has generated 20.73% year to date (as of Sep 6).

IShares Robotics And Artificial Intelligence Multisector ETF (IRBO Quick QuoteIRBO - Free Report)

IShares Robotics And Artificial Intelligence Multisector ETF seeks to track the performance of NYSE FactSet Global Robotics and Artificial Intelligence Index, composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence. The fund charges an annual fee of 0.47%.

IShares Robotics And Artificial Intelligence Multisector ETF has an asset base of $491.91 million. The fund has generated 27.40% year to date (as of Sep 6).

ROBO Global Artificial Intelligence ETF (THNQ Quick QuoteTHNQ - Free Report)

ROBO Global Artificial Intelligence ETF seeks to track the performance of ROBO Global Artificial Intelligence Index, which measures the performance of publicly traded companies that have a significant portion of their revenue derived from the field of AI. The fund charges an annual fee of 0.68%.

ROBO Global Artificial Intelligence ETF has amassed an asset base of $60.93 million. The fund has generated 38.67% year to date (as of Sep 6).