Industry stocks have suffered along with broader markets in recent weeks
Inflows into exchange-traded funds tracking artificial intelligence companies have ebbed after their sharp run-up earlier this year, as investors fear persistently high U.S. interest rates will hurt company valuations.) received $1.8 million in net inflows in September after sharp outflows in the prior month, while the smaller ROBO Global Robotics & Automation Index ETF (
On the whole, AI and robotics focused ETFs had a strong start to 2023 after the release of Chat GPT-4, taking in over $1.9 billion through the first three quarters of the year, said Aniket Ullal, ETF data and analytics head at CFRA Research. “The inflows moderated in September due to the market’s view that interest rates may now be higher for longer, which would impact tech firms with cash flows further out in the future,” said Ullal.
The high-flying stocks were also experiencing some profit taking after their sharp rally this year, investors said.
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