AINF

The iShares AI Infrastructure UCITS ETF (AINF) tracks the STOXX Global AI Infrastructure Index and focuses on companies that provide the building blocks for artificial intelligence, including semiconductors, cloud computing, networking, storage and data-centre infrastructure. It is a physically replicated thematic equity ETF, so returns are driven by demand for compute, memory, chip equipment and enterprise infrastructure spending tied to AI workloads. The main risks are concentration in hardware and technology capex cycles, valuation sensitivity and volatility around semiconductor demand, which makes it better suited to a targeted satellite role than to a core diversified equity position.

Top holdings:

• Intel Corporation (INTC): 5.87%
• Advanced Micro Devices, Inc. (AMD): 5.28%
• Applied Materials, Inc. (AMAT): 5.05%
• Amazon.com, Inc. (AMZN): 4.85%
• Broadcom Inc. (AVGO): 4.71%
• ASML Holding N.V. (ASML): 4.67%
• Taiwan Semiconductor Manufacturing Company Limited (2330): 4.55%
• Cisco Systems, Inc. (CSCO): 4.51%