The article notes that many AI stocks, including Nvidia (down 10% from its high) and SanDisk (down 44%), have pulled back as investors question the sustainability of AI infrastructure spending. It highlights the iShares Future AI and Tech ETF (ARTY), which holds about 50 AI stocks across infrastructure, software and services and has risen roughly 130% since its August 2024 restructuring, versus 44% for the S&P 500 over the same period. The author cautions that the ETF's 0.47% expense ratio is roughly 15 times that of a Vanguard index fund at 0.03%, and that it should not be an investor's only position given its focus on one area of the market. The article also notes that Anthropic is now expected to go public at a $1.5 trillion valuation, down from an initial expectation of $2 trillion.
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