Plus500 (LON:PLUS), the leading global multi-asset fintech group, recently added the BITA Artificial Intelligence US Giants Index (BAIGUI) to its array of financial instruments available to customers. Expanding Plus500’s spectrum of sector indices, BAIGUI enhances the list of popular indices available on its CFD trading platform, such as the Cannabis Index, NFT Index, Real Estate Index and more.
The index comprises 10 of the most prominent AI technology companies, including but not limited to Nvidia, C3Ai.Inc, Altair Engineering, Palantir Technologies and Momentive Global Inc. Capturing the performance of these publicly listed tech players, the AI-driven index provides pure-play exposure to mid and small-sized companies highly specialised in AI technology development.
Considering that some of these companies are not available on other CFD trading platforms, BAIGUI is a cutting-edge addition to the growing assortment of Plus500’s index-based instruments and provides an exciting vehicle for traders to tap into the booming AI sector.
Given the pure-play nature of most of the index’s companies, individual share prices are typically sensitive to any developments in the field of AI and are expected to react accordingly. The index therefore allows Plus500 customers to gain exposure to this market segment in a laser-focused manner, with a single trade.
According to BITA, the German digital index company, the generative AI index has yielded a return of 100.42% from January 1 to June 8, 2023. Showing significant growth potential, the BITA generative AI index is thus one of the CFD instruments to consider for portfolio diversification.
“At Plus500, we are committed to offering our customers a comprehensive range of trading products across our intuitive, tech-driven trading platforms,” said David Zruia, Chief Executive Officer. “With the huge rise in interest in AI around the world, we are pleased now to be able to offer our customers the opportunity to take advantage of this structural trend by adding BAIGUI to our class-leading OTC trading platform, giving customers pure-play exposure to those companies specialising in AI technology development.”
What makes AI an attractive sector to invest in?
The AI industry has witnessed rapid expansion in recent years, with numerous machine learning solutions being released, culminating in the launch of AI-powered chatbot ChatGPT in November last year, which sparked investor interest globally.
Demand for AI solutions is on a strong uptrend as businesses across healthcare, finance, retail and transportation are adopting artificial intelligence to streamline their operations. TechJury, the go-to platform for everything in the technology space, indicates that 35% of companies around the world are using AI, and 42% of them are exploring various avenues for implementing AI.
According to a PwC report, AI is expected to add $15.7 trillion to the global economy by 2030. This advancement has the potential to raise the economic growth rate by a weighted average of 1.7 percentage points by 2035 across 16 segments, including medicine and life sciences, industry, automotive, customer service and finance.
Against this background, Plus500 has introduced a set of index CFDs that allow Plus500 OTC customers to trade a broader range of instruments rather than hand-pick individual shares and keep tabs on the performance of the promising AI industry.
To empower customers to make informed trading decisions, the Group has secured a strategic partnership with BITA, the BAIGUI index developer. This facilitates access to a range of trading data and insights that help customers assess market trends more accurately.
About Plus500
Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC (“Over-the-Counter” products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures.
The Group retains operating licenses and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, Seychelles, the United States, Estonia, Japan, and the UAE, and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 50 countries and 30 languages.
Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index.
For further details, visit www.plus500.com
