{"id":130792,"date":"2025-11-11T13:03:02","date_gmt":"2025-11-11T18:03:02","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/artificial-intelligence\/the-ai-value-chain-understanding-the-engines-of-growth\/"},"modified":"2025-11-24T10:47:19","modified_gmt":"2025-11-24T15:47:19","slug":"the-ai-value-chain-understanding-the-engines-of-growth","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/artificial-intelligence\/the-ai-value-chain-understanding-the-engines-of-growth\/","title":{"rendered":"The AI value chain: Understanding the engines of growth"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd9726521'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">The AI value chain: Understanding the engines of growth<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/artificial-intelligence\/\" rel=\"category tag\">\n                    Artificial Intelligence\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/technology\/\" rel=\"category tag\">\n                    Technology\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/3908784921.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Surface Detail Of A Semiconductor Wafer\" title=\"Surface Detail Of A Semiconductor Wafer\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/3908784921.jpg 1200w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/3908784921.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/3908784921.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/3908784921.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd9731c94'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">November 11, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd97348a4'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--has-bg-color\"\n    style=\"background-color:#e6f3ff;border-radius: 16px 16px 16px 16px;\"\n    >\n    <div class=\"wpb_content_element bbg-card  bbg-card-custom bbg-card-text-black\" id=\"card_1\" data-card_type=\"no_image\">\n      <style>#card_1 .bbg-card__innerwrapper {background-color: #e6f3ff;}#card_1 .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1:hover .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1 .bbg-card__innerwrapper {\n\tpadding: calc(var(--brand-large-padding, 40px) - 1px) !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__title {\n\tcolor: #000000 !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__content,#card_1 .bbg-card__innerwrapper .bbg-card__content p  {\n\tcolor: #000000 !important;\n\t}#card_1.bbg-card_hasImage .bbg-card__innerwrapper{padding-top: calc(var(--brand-default-padding, 16px) - 1px);padding-left: calc(var(--brand-default-padding, 16px) - 1px);padding-right: calc(var(--brand-default-padding, 16px) - 1px);}<\/style>\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n              <div class=\"bbg-card__eyebrow\" style=\"color: #000000\">KEY TAKEAWAYS<\/div>\n      \n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p><span class=\"TextRun SCXW127944726 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun CommentStart CommentHighlightPipeClicked CommentHighlightClicked SCXW127944726 BCX0\">How can investors assess exposure across the expanding AI value chain? Through the Bloomberg AI Value Chain Index, this article explores how indices map the ecosystem and how equal weighting and diversified exposure across semiconductors, hardware, and cloud highlight the underlying drivers of AI\u2019s growth.<\/span><\/span><span class=\"EOP CommentHighlightPipeClicked SCXW127944726 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<\/div>\n          <\/div>\n\n      <\/div>\n\n  <\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd973782d'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><em>This article was written by Sean Murphy, Multi-Asset Index Product Manager at Bloomberg Index Services (BISL).<\/em><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW3401295 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">From chatbots writing poetry to algorithms helping doctors read scans, the headlines make it feel like a revolution is unfolding. But for\u00a0<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">market observers<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">, the question\u00a0<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">isn\u2019t<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">\u00a0whether AI matters, but rather, how to\u00a0<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">analyze exposure across AI\u2019s expanding ecosystem<\/span><span class=\"NormalTextRun SCXW3401295 BCX0\" data-ccp-parastyle=\"Normal (Web)\">.\u00a0<\/span><\/span><span class=\"EOP SCXW3401295 BCX0\" data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In our\u00a0<\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/artificial-intelligence\/inside-ais-rapid-expansion-what-investors-need-to-know\/\"><span data-contrast=\"none\">previous article<\/span><\/a><span data-contrast=\"auto\">\u00a0in this series on how AI is reshaping the investment landscape, we examined how AI adoption in hardware is driving structural economic change, influencing portfolio construction, and redefining market leadership through inference.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">But while it is tempting to\u00a0focus on\u00a0the companies building the AI models that dominate the news,\u00a0the\u00a0history\u00a0shows that when\u00a0new technologies\u00a0take off,\u00a0the long-term\u00a0beneficiaries\u00a0may\u00a0often include\u00a0the\u00a0enabling companies that support\u00a0innovation\u00a0across\u00a0the supply chain.\u00a0In this article, using the Bloomberg AI Value Chain Index as an example, we examine how indices can help to\u00a0observe\u00a0companies building the foundations of AI.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd9739685'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px;\">PRODUCT MENTIONS<\/span><\/strong><\/p>\n\n<\/div>\n\n<div\n  id=\"cta_8261317633287885286\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/thematic\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg Thematic Indices\"\n        >\n                      Bloomberg Thematic Indices\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun MacChromeBold SCXW163173715 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW163173715 BCX0\">Why does an index approach matter in assessing AI investments?<\/span><\/span><span class=\"EOP SCXW163173715 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">AI is less\u00a0a single product\u00a0and more an ecosystem.\u00a0AI models\u00a0require substantial infrastructure (data centers, advanced semiconductors, and reliable storage systems)\u00a0to function. Each layer is complex and capital intensive\u00a0and has\u00a0its own\u00a0essential contributors.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd973d2e7'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">Focusing on a narrow set of AI stocks may lead to concentration\u00a0or exposure gaps.\u00a0From an index design perspective, two structural risks arise:\u00a0high\u00a0weighting\u00a0to\u00a0a few large-cap constituents, and underrepresentation of companies providing critical but less conspicuous contributions to AI innovation.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Think of AI as a skyscraper. The model developers are the architects celebrated on magazine covers, but without the steelmakers, electricians, and elevator manufacturers, the building\u00a0will never be completed.\u00a0Indices, such as the\u00a0Bloomberg AI Value Chain\u00a0Index\u00a0aims\u00a0to capture\u00a0all of\u00a0these roles.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd973eb59'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_2\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Tailored indices insights and invitations in your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_403320966859045153\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/explore\/indices-insights-tailored-to-your-interests\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6ac3fd9742024'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">Built\u00a0using\u00a0a rules-based\u00a0approach\u00a0informed by\u00a0Bloomberg Intelligence\u00a0(BI)\u00a0research, the index\u00a0maps\u00a0the\u00a0AI value chain\u00a0and\u00a0identifies\u00a0companies with\u00a0significant involvement\u00a0in each link\u00a0of the AI infrastructure.\u00a0Numerous business models fit within this theme, from cloud computing platforms to semiconductors to hardware infrastructure.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Only firms that have clear, material exposure to AI, as identified in BI research, are eligible for inclusion into the index. Once the eligible universe is set, the selection process groups companies into three categories: cloud, AI hardware, and AI semiconductors. From these, the 15 largest companies in each group, ranked by free-float market capitalization, are selected.<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun SCXW101016278 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">The\u00a0<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">p<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">ower of\u00a0<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">e<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">qual\u00a0<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">w<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">eighting<\/span><span class=\"NormalTextRun SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">\u00a0<\/span><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW101016278 BCX0\" data-ccp-parastyle=\"heading 2\">in AI index investing<\/span><\/span><span class=\"EOP CommentHighlightPipeRest SCXW101016278 BCX0\" data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">Some investors may question the need for a dedicated AI sleeve in portfolios. After all, many of the largest constituents in market cap weighted indices\u00a0are\u00a0active\u00a0in this growing area.\u00a0A simple market\u00a0cap weighted\u00a0approach, however,\u00a0may\u00a0not\u00a0reflect the\u00a0diversity of\u00a0AI-related business models.\u00a0To\u00a0avoid\u00a0large cap\u00a0names\u00a0from\u00a0dominating\u00a0the\u00a0index,\u00a0here,\u00a0the selected securities are\u00a0instead\u00a0equally weighted.\u00a0Such an approach also increases\u00a0the exposure to names that are smaller in market\u00a0capitalization\u00a0and whose price may not yet reflect the\u00a0magnitude\u00a0of their involvement\u00a0this early in their development cycle.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Additionally, taking an Equal-weighted approach may\u00a0increase the\u00a0representation\u00a0of\u00a0companies involved in AI-related\u00a0M&amp;A\u00a0activity. By giving smaller and mid-sized firms\u00a0greater\u00a0footing, the index\u00a0may highlight\u00a0potential\u00a0targets more fully.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1502\" height=\"880\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Market Cap Weighting vs Equal Weighting in AI Index Investing\" title=\"Market Cap Weighting vs Equal Weighting in AI Index Investing\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 1502w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.23.23%E2%80%AFPM.png 184w\" sizes=\"auto, (max-width: 1502px) 100vw, 1502px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"NormalTextRun SCXW184299194 BCX0\">Traditional equity indices\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">may underrepresent<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0how AI is reshaping market growth. While\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">broad<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0benchmarks capture\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">companies<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0that are<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0already\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW184299194 BCX0\">benefiting<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW184299194 BCX0\">\u00a0from<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0digital transformation, they\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">often<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">reflect today\u2019s market composition rather than tomorrow\u2019s growth drivers.\u00a0<\/span><\/p>\n<p><span class=\"NormalTextRun SCXW184299194 BCX0\">Even indices that focus on technology\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">(<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">such as the Bloomberg 500 Tech and Bloomberg 100<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0Indices)<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">do not fully capture the\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">growth of the AI ecosystem as acceleration may be\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">happening beneath the surface<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">.\u00a0<\/span><span class=\"NormalTextRun SCXW184299194 BCX0\">The following chart illustrates this gap, showing that the broader indices underrepresent the scale of projected sales growth across AI-related segments over the coming decade.<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1488\" height=\"974\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Sales CAGR: AI Infrastructure Segments\" title=\"Sales CAGR: AI Infrastructure Segments\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png 1488w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.01%E2%80%AFPM.png 165w\" sizes=\"auto, (max-width: 1488px) 100vw, 1488px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3><span class=\"TextRun MacChromeBold SCXW126017620 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW126017620 BCX0\">Selected companies illustrating the approach employed by the Bloomberg AI Value Chain Index<\/span><\/span><\/h3>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--md\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h4><span class=\"TextRun SCXW218459404 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW218459404 BCX0\" data-ccp-parastyle=\"heading 3\">Western Digital: AI\u2019s\u00a0<\/span><span class=\"NormalTextRun SCXW218459404 BCX0\" data-ccp-parastyle=\"heading 3\">e<\/span><span class=\"NormalTextRun SCXW218459404 BCX0\" data-ccp-parastyle=\"heading 3\">xpanding\u00a0<\/span><span class=\"NormalTextRun SCXW218459404 BCX0\" data-ccp-parastyle=\"heading 3\">l<\/span><span class=\"NormalTextRun SCXW218459404 BCX0\" data-ccp-parastyle=\"heading 3\">ibrary<\/span><\/span><span class=\"EOP SCXW218459404 BCX0\" data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h4>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">AI runs on data, and every image analyzed, every prompt\u00a0answered,\u00a0every recommendation generated requires vast storage. Western Digital\u00a0(WDC US)\u00a0has developed a framework called the AI Data Cycle, mapping the six key stages of AI workflows from raw data storage to new data generation.\u00a0At some stages, you need\u00a0\u201c<\/span><span data-contrast=\"auto\">sports cars\u201d<\/span><span data-contrast=\"auto\">\u00a0(SSDs) to move critical goods quickly. At others, you need\u00a0\u201c<\/span><span data-contrast=\"auto\">cargo ships\u201d<\/span><span data-contrast=\"auto\">\u00a0(HDDs) to carry massive loads efficiently. Western Digital builds both, and it designs them to work together as a complete\u00a0logistics\u00a0system for AI data.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">What makes this significant is that Western Digital\u00a0isn\u2019t\u00a0competing to build AI models themselves. Instead,\u00a0it\u2019s\u00a0building the\u00a0<\/span><span data-contrast=\"auto\">infrastructure backbone<\/span><span data-contrast=\"auto\">\u00a0that\u00a0is intended to support\u00a0AI models\u00a0with\u00a0the\u00a0appropriate\u00a0storage\u00a0options across workflow stages.\u00a0The company\u2019s strong year-to-date performance\u00a0(+167.2% through\u00a0September)\u00a0may be attributed to some\u00a0market\u00a0participants\u00a0increased attention to\u00a0storage\u00a0infrastructure\u2019s role in\u00a0AI\u00a0workflows.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h4><span class=\"TextRun SCXW115312857 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW115312857 BCX0\" data-ccp-parastyle=\"heading 3\">Credo: Highways for AI\u00a0<\/span><span class=\"NormalTextRun SCXW115312857 BCX0\" data-ccp-parastyle=\"heading 3\">d<\/span><span class=\"NormalTextRun SCXW115312857 BCX0\" data-ccp-parastyle=\"heading 3\">ata<\/span><\/span><span class=\"EOP SCXW115312857 BCX0\" data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h4>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">Technology\u00a0provided by\u00a0Credo\u00a0(CRDO US)\u00a0ensures information\u00a0moves\u00a0between\u00a0GPUs, storage systems, and networking gear. The firm\u00a0holds a leading position in\u00a0the Active Electrical Cable market and has deep partnerships with\u00a0hyperscalers\u00a0like Amazon, Microsoft, and Meta.\u00a0Credo\u00a0essentially gives\u00a0AI data centers the ability to add lanes to the data highways within.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">One of the biggest challenges in scaling AI today is\u00a0<\/span><span data-contrast=\"auto\">energy consumption<\/span><b><span data-contrast=\"auto\">.<\/span><\/b><span data-contrast=\"auto\">\u00a0Training and running large AI models requires connecting thousands of GPUs in data centers, which in turn means moving vast amounts of data at extremely high speeds. Every time that data moves, energy is\u00a0consumed. This\u00a0is where Credo\u2019s technology comes in. Their products are specifically designed to move data quickly while using less power per bit transferred.\u00a0That means hyperscale data centers can train and deploy AI models without their energy bills spiraling out of control. <\/span><span data-contrast=\"auto\">Credo\u2019s\u00a0revenue growth and\u00a0stock\u00a0performance in 2025 (+117% YTD through\u00a0September)\u00a0may suggest a growing interest in energy-efficient solutions for\u00a0AI\u00a0infrastructure.<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h4><span class=\"TextRun SCXW267937252 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW267937252 BCX0\" data-ccp-parastyle=\"heading 3\">Hon Hai: Factories of the\u00a0<\/span><span class=\"NormalTextRun SCXW267937252 BCX0\" data-ccp-parastyle=\"heading 3\">f<\/span><span class=\"NormalTextRun SCXW267937252 BCX0\" data-ccp-parastyle=\"heading 3\">uture<\/span><\/span><span class=\"EOP SCXW267937252 BCX0\" data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h4>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">For decades, Hon Hai Precision Industry\u00a0(2317 TT), or Foxconn, was synonymous with high-volume electronics assembly, particularly smartphones. Recently, however, Foxconn redirected its enormous manufacturing muscle toward\u00a0AI infrastructure. This move has paid off,\u00a0with\u00a0revenue from its\u00a0AI and cloud\/server division\u00a0now\u00a0surpasses that of\u00a0smartphone sales.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Today,\u00a0it\u00a0co-designs servers with NVIDIA and assembles forty percent of the world\u2019s AI servers. The company\u2019s pivot to AI servers\u00a0coincided with\u00a0record revenues in 2024 and 2025, and its year-to-date stock performance\u00a0(+21.6%\u00a0through September)\u00a0may\u00a0reflect\u00a0increased investor focus on AI infrastructure.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span class=\"TextRun SCXW178516100 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW178516100 BCX0\" data-ccp-charstyle=\"Heading 2 Char\">Measuring the growth of AI infrastructure<\/span><\/span><\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"auto\">AI adoption is accelerating across industries from healthcare to finance to entertainment. Each advance increases demand for chips, storage, servers, and faster data connections. The Bloomberg AI Value Chain Index is designed to capture this continuous change in demand. By focusing on the enabling infrastructure rather than any single model or application, the index\u00a0seeks\u00a0to capture relevant\u00a0new technologies\u00a0and players.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">By equal weighting forty-five firms across cloud, semiconductors, and hardware, it offers a diversified, transparent way to track AI\u2019s growth. In a year where AI is at the forefront of many investors\u2019 minds, the index has delivered results that have been in line with or exceeded many of the more popular AI ETFs available on the market. If AI is the gold rush of our time, the index can be seen as a map to the companies selling the picks, shovels, and railroads.<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1496\" height=\"1282\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Bloomberg AI Value Chain Index Versus Similar Products Year-to-Date\" title=\"Bloomberg AI Value Chain Index Versus Similar Products Year-to-Date\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png 1496w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-11-09-at-6.24.26%E2%80%AFPM.png 126w\" sizes=\"auto, (max-width: 1496px) 100vw, 1496px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW206529355 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun CommentStart CommentHighlightPipeRest CommentHighlightRest SCXW206529355 BCX0\">Looking<\/span><span class=\"NormalTextRun CommentHighlightPipeRest SCXW206529355 BCX0\">\u00a0to further explore how AI is transforming markets<\/span><span class=\"NormalTextRun SCXW206529355 BCX0\">,\u00a0<\/span><span class=\"NormalTextRun SCXW206529355 BCX0\">and how Bloomberg Indices measure exposure to this theme? In part three of our series, we focus on AI Thematics, examining how a rules-based approach, supported by Bloomberg Intelligence,\u00a0identifies\u00a0companies materially engaged in AI development and deployment.<span class=\"EOP SCXW206529355 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/span><\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW264361632 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW264361632 BCX0\">To learn more about Bloomberg <\/span><span class=\"NormalTextRun SCXW264361632 BCX0\">Indices<\/span><span class=\"NormalTextRun SCXW264361632 BCX0\">,<\/span><span class=\"NormalTextRun SCXW264361632 BCX0\"> click <\/span><\/span><a class=\"Hyperlink SCXW264361632 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"SCXW264361632 BCX0\"><span class=\"TextRun Underlined SCXW264361632 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW264361632 BCX0\" data-ccp-charstyle=\"Hyperlink\">here<\/span><\/span><\/span><\/a><span class=\"TextRun SCXW264361632 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW264361632 BCX0\">.<\/span><\/span><span class=\"EOP SCXW264361632 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><span class=\"TextRun SCXW230781345 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW230781345 BCX0\" data-ccp-parastyle=\"Normal (Web)\">Amplify has licensed the Bloomberg AI Value Chain Index for their ETF ticker\u00a0<\/span><\/span><a class=\"Hyperlink SCXW230781345 BCX0\" href=\"https:\/\/amplifyetfs.com\/aivc\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"SCXW230781345 BCX0\"><span class=\"TextRun Underlined SCXW230781345 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW230781345 BCX0\" data-ccp-charstyle=\"Hyperlink\">AIVC<\/span><\/span><\/span><\/a><span class=\"TextRun SCXW230781345 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW230781345 BCX0\" data-ccp-parastyle=\"Normal (Web)\">.<\/span><\/span><span class=\"EOP SCXW230781345 BCX0\" data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div class=\"bbg-accordion transparent\">\n\t<input type=\"checkbox\"  id=\"bbg-accordion-toggle-6ac3fd974bfda\">\n\t<div class=\"bbg-accordion-parent\" data-accordion-toggle aria-expanded=\"false\">\n\t\t<label class=\"bbg-accordion-label\" for=\"bbg-accordion-toggle-6ac3fd974bfda\">\n\t\t\t\t<h5 class=\"bbg-accordion-title\" data-label=\"Disclaimer\">\n\t\tDisclaimer\n\t<\/h5>\n\n\t\t\t\t\t<\/label>\n\t<\/div>\n\t<div class=\"bbg-accordion-content\">\n\t\t<div class=\"bb-wysiwyg\">\n\t<p style=\"margin: 0in; line-height: 18.0pt; background: white;\"><span style=\"font-family: Helvetica; color: black;\">The data and other information included in this publication is for illustrative purposes only, available \u201cas is\u201d, non-binding and constitutes the provision of factual information, rather than financial product advice. BLOOMBERG and BLOOMBERG INDICES (the \u201cIndices\u201d) are trademarks or service marks of Bloomberg Finance L.P. (\u201cBFLP\u201d). BFLP and its affiliates, including BISL, the administrator of the Indices, or their licensors own all proprietary rights in the Indices. Bloomberg L.P. (\u201cBLP\u201d) or one of its subsidiaries provides BFLP, BISL and its subsidiaries with global marketing and operational support and service. Certain features, functions, products and services are available only to sophisticated investors and only where permitted. Bloomberg (as defined below) does not approve or endorse these materials or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom, and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith. Nothing in the Services or Indices shall constitute or be construed as an offering of financial instruments by Bloomberg, or as investment advice or investment recommendations (i.e., recommendations as to whether or not to \u201cbuy\u201d, \u201csell\u201d, \u201chold\u201d, or to enter or not to enter into any other transaction involving any specific interest or interests) by Bloomberg. Information available via the Index should not be considered as information sufficient upon which to base an investment decision. All information provided by the Index or in this publication is impersonal and not tailored to the needs of any person, entity or group of persons. Absence of any trademark or service mark from this list does not waive Bloomberg\u2019s intellectual property rights in that name, mark or logo. 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This article explores how indices map the ecosystem across semiconductors, hardware, and cloud.<\/p>\n","protected":false},"author":1935,"featured_media":97866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"3715","footnotes":""},"categories":[3715,453,3661],"tags":[603,454,3672,547,543],"series":[],"class_list":["post-130792","post","type-post","status-publish","format-standard","hentry","category-artificial-intelligence","category-markets","category-technology","tag-ai-machine-learning","tag-equities","tag-equity-indices","tag-indices","tag-technology","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The AI value chain: Understanding the engines of growth | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"How can investors assess exposure across the expanding AI value chain? ow can investors assess exposure across the expanding AI value chain? 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