Global X Artificial Intelligence Infrastructure ETF (ASX: AINF)

The Global X Artificial Intelligence Infrastructure ETF (AINF) provides targeted exposure to the indispensable physical and operational foundations underpinning the global expansion of artificial intelligence. While traditional AI investments frequently focus on software and semiconductors, AINF captures the capital-intensive enablers powering this transformation, including data centre capacity, power grid enhancements, and critical supply chains.

By tracking the Mirae Asset AI Infrastructure Index, the fund invests in companies driving the structural investment cycle for electric utilities, thermal management, and the production of copper and uranium. These foundational resources are essential to meet the accelerating energy demands of AI workloads, which are projected to drive over US$2 trillion in capital expenditure. AINF serves as a differentiated tactical allocation, allowing investors to broaden their thematic coverage beyond technology platforms and participate in the long-term buildout of the essential infrastructure enabling the next phase of digital evolution.

The Global X Artificial Intelligence Infrastructure ETF (AINF) offers targeted exposure to the physical and operational backbone enabling AI’s global expansion. While most AI investments focus on chips or platforms, AINF looks underneath the surface at the energy, data, and materials infrastructure powering this transformation.

AINF is designed to capture companies driving AI’s Dnext phase: the large-scale buildout of data centre capacity, power grid upgrades, and the supply chains for copper and uranium. These foundational investments are crucial to support AI’s accelerating power demands and ensure system-wide reliability.

The objective of the Global X Artificial Intelligence Infrastructure ETF (AINF) is to track the performance of companies involved in supporting the data centre infrastructure requirements arising from Artificial Intelligence operations. This includes companies involved in the supply of electric utilities and infrastructure, energy management and optimisation, data centre equipment manufacturing, thermal management, and production and refinement of Copper and Uranium used to power and operate the AI infrastructure.

Global data centre capital expenditure is projected to exceed US$2 trillion over the next five years, reflecting a structural investment cycle driven by artificial intelligence and digital
workloads¹.

Electricity demand from data centres in the United States is expected to grow more than four times faster than grid capacity expansion, placing pressure on existing energy infrastructure². 

Copper is playing a critical role in data centre construction, with significant demand tied to power distribution, cabling, and cooling systems. This is contributing to a long-term structural uplift in copper consumption³.

¹ The Tech Capital, November 2024, “Data centre market set for $2 trillion boom, says Blackstone”.
² McKinsey & Company, October 2024, “How data centers and the energy sector can sate AI’s hunger for power”.
³ BHP, January 2025, “Why AI tools and data centres are driving copper demand”.

A tactical allocation to capture the long-term investment cycle in AI infrastructure, including energy systems, data centres, and essential raw materials.

A complementary position alongside semiconductor or software-focused AI exposures to broaden thematic coverage and reduce concentration in tech platforms.

A differentiated exposure to companies building the physical infrastructure behind AI, giving investors access to capital-intensive enablers often overlooked in traditional AI strategies.

• Tracks the Mirae Asset AI Infrastructure Index, targeting companies enabling largescale AI through physical infrastructure.
• Focuses on three core sub-themes:
  
  • Power and energy infrastructure
  • Data centre infrastructure
  • Raw materials and energy sources (copper and uranium)
• Selects up to 10 companies per sub-theme, resulting in a portfolio of 30 stocks in total.
• Only includes companies that derive at least 50 percent of revenue from these segments.
• Sub-themes are equally weighted, and individual stock weights are capped at 5 percent to reduce concentration risk.
• Rebalanced semi-annually to maintain diversification and alignment with the underlying theme.

Sector Exposure: The fund has higher exposure to utilities, industrials, and materials, which may perform differently to traditional tech holdings.

Theme Timing: AI infrastructure is a long-term investment theme that may take time to play out, with periods of volatility along the way.

Index Focus: AINF excludes software and semiconductor companies, focusing instead on companies building and powering the infrastructure layer of AI.

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Information current as at April 2025.