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BlackRock expands AI fund range with robotics ETF
The new fund will invest in companies using intelligent machines for repetitive tasks in sectors including transportation and manufacturing.
BlackRock introduced the iShares Future Robotics and Related Technologies ETF on October 21, expanding its artificial intelligence offerings as fund managers launch more products focused on specific parts of the AI industry.
The asset manager said the ETF will invest in companies using intelligent machines to improve the efficiency of repetitive work, including in transportation and manufacturing. BlackRock sees robotics as a key component of the next phase of AI adoption across industries.
Jay Jacobs, BlackRock’s US head of equity ETFs, said the firm remained convinced about the AI theme despite recent volatility. He cautioned that expectations could change rapidly, adoption could be uneven and market risk was concentrated in relatively few companies. He also said AI was driving both risk and returns in broad market portfolios.
At least six ETFs linked to AI debuted over the past month, many with narrower mandates. Global X introduced its LLM ETF for exposure to large language model developers, while Defiance launched the first ETF focused on bonds issued by AI infrastructure companies.