–News Direct–
Anthony Ginsberg, CEO of GINSGLOBAL Index Fund joined Steve Darling from Proactive to an overview of the performance and trends in its Cloud Technology ETF and the Tech Megatrend ETF for 2023.
For the Cloud Technology ETF, Ginsburg highlights a strong year with returns exceeding 41%. He attributes this success to the growth of artificial intelligence (AI), which is driving increased spending on cloud services. Cloud providers like Microsoft and Google are integrating AI chips into their platforms, making them major beneficiaries of this trend. The continued prevalence of remote work has also led to substantial mergers and acquisitions in the cybersecurity sector linked to cloud services.
Turning to the Tech Megatrend ETF, Ginsburg notes that it has seen a robust performance, nearly reaching a 40% increase. Lower interest rate forecasts and the Federal Reserve's pause have favored growth stocks. The integration of AI and digital technologies across various industries has been a significant driver of growth.
Ginsburg highlights Microsoft's acquisition of Activision for $75 billion as an example of the convergence of social media, cloud, and digital gaming, all powered by AI. The gaming industry has surpassed Hollywood in size, driven by AI advancements and mobile device gaming. Looking ahead to 2024, Ginsburg expects the growth in these sectors to continue.
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View source version on newsdirect.com: https://newsdirect.com/news/ginsglobal-index-fund-managing-director-sees-strong-tailwinds-for-cloud-and-tech-etfs-613029401
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COMTEX_445255738/2655/2023-12-20T19:19:59
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