In the early 1990s, the internet quietly began reshaping the global economy.

By the late 2000s, smartphones put that power in everyone’s pocket. Today, artificial intelligence may represent a similar inflection point, a technological force with the potential to redefine productivity, industry structure, and long-term investment returns.

But is AI truly a potential once-in-a-generation opportunity? And if so, how can investors gain focused exposure to its opportunity?

From Concept to Core Infrastructure

Artificial intelligence has existed in academic and research circles since the 1950s. Yet only in the past decade have three powerful forces converged: exponential computing power, massive data availability, and breakthroughs in machine learning. The launch of generative AI platforms in 2022 marked a public tipping point, with adoption reaching 100 million users in a matter of months, one of the fastest technology adoption curves in history. [1]

The economic impact could be substantial. Goldman Sachs has estimated that AI could increase global GDP by roughly 7% over the next decade [2], while McKinsey projects trillions of dollars in annual productivity gains across industries. [3] From healthcare diagnostics and industrial automation to cybersecurity and financial services, AI is rapidly moving from experimentation to enterprise-wide deployment. 88% of organizations now report using AI in at least one business function, signaling a shift from experimentation to practical integration across industries. [4]

This shift mirrors earlier technological revolutions. During the internet boom, companies building networking hardware, semiconductors, and software platforms captured enormous value. Similarly, the smartphone revolution created a new ecosystem spanning chipmakers, app developers, cloud infrastructure providers, and device manufacturers. Semiconductors, foundational to both internet infrastructure and smartphone hardware, are projected to approach nearly $1 trillion in annual industry turnover by 2026, about four times the market size of two decades ago, illustrating the scale of hardware growth alongside software ecosystems. [5]

AI appears to be following the same path, not as a single product, but as an enabling layer across the entire economy.

Why Thoughtful AI Approach Matters for Portfolios

For investors, the key question is no longer whether artificial intelligence will matter, but how to gain exposure thoughtfully. Unlike prior technology waves that were often concentrated in a small number of companies, AI is emerging as a multi-layered ecosystem spanning hardware, software, robotics, and advanced analytics across multiple sectors and geographies.

At the same time, AI-related capital expenditure among hyperscalers and enterprises is accelerating at a pace that continues to surprise consensus estimates. Yet much of the market’s attention remains concentrated in a small number of mega-cap technology companies. This narrow framing potentially risks overlooking a broader and rapidly expanding AI ecosystem.

As AI systems move from model training toward real-world deployment, a large and growing “agentic economy” is beginning to take shape, one that extends well beyond traditional “picks and shovels” infrastructure. AI systems operating at scale depend on complex operational pipelines including networking, cybersecurity, big data analytics, edge computing, and photonics. These enabling technologies form the digital infrastructure required for AI systems to function reliably across industries and environments.

The ROBO Global Artificial Intelligence ETF (THNQ) is designed to provide targeted exposure to companies involved in both AI development and deployment. Rather than focusing solely on mega-cap technology firms, THNQ tracks a curated index of companies deriving significant revenue from AI innovation.

Its portfolio includes semiconductor designers, data infrastructure leaders, cloud computing innovators, and companies deploying AI-enabled applications across enterprise and industrial workflows. This diversified structure reflects the broader AI value chain itself, from chips powering large language models to the infrastructure and software platforms required to operationalize AI across industries.

By capturing exposure across both enabling infrastructure and real-world applications, THNQ seeks to participate in both the current phase of AI system buildout and the longer-term monetization of AI-driven productivity gains.

A Structural Growth Theme

Historical evidence and economic research indicate that technology revolutions often introduce short-term volatility and market uncertainty as new innovations disrupt established models, yet they become strong drivers of long-term structural growth and productivity increases over decades. [6][7] The internet transformed retail, advertising, and media. Mobile computing reshaped communication and commerce. AI’s promise is arguably broader, automating cognitive tasks, augmenting human productivity, and unlocking entirely new business models.

Importantly, AI investment is no longer confined to speculative research and development. Enterprises are increasingly integrating AI into core operations, and global AI-related capital expenditures are accelerating as companies build the infrastructure required to deploy these technologies at scale. Governments are prioritizing AI competitiveness, and corporate earnings calls increasingly reference AI-driven efficiencies, automation, and new product capabilities.

For long-term investors, technological shifts that redefine productivity have historically created economic opportunities. Technologies that meaningfully expand productivity have often translated into higher economic output and, over time, stronger corporate earnings growth, as companies that successfully deploy new technologies improve efficiency, margins, and scalability. While market timing is inherently difficult, participating in secular innovation cycles through diversified AI ecosystem vehicles such as the ROBO Global Artificial Intelligence ETF (THNQ) may allow investors to gain exposure to transformative technologies while potentially mitigating single-company risk.

AI may still be in its early innings, comparable to the internet in the mid-1990s or smartphones before app stores matured.

If history is any guide, transformative platforms may potentially reshape portfolios as profoundly as they reshape economies.

Sources:

[1] Hu, Krystal, ChatGPT sets record for fastest-growing user base – analyst notes, Reuters, 2/2/23.

[2] Goldman Sachs Artificial Intelligence, Generative AI could raise global GDP by 7%, Goldman Sachs, 4/4/23.

[3] Kaput, Mike, McKinsey: AI Could Generate Up to $23 Trillion Annually by 2040, Marketing AI Institute, 11/5/24.

[4] McKinsey & Company, McKinsey Publishing’s year in charts (Detailed Charts), mckinsey.com, 12/8/25.

[5] Pinaud, Olivier, Semiconductors: The tiny chips powering the global economy, Le Monde, 12/24/25.

[6] Arenas, Laura & Gil-Lafuente, Anna, Emerging Technologies. Innovation and Volatility: A Mini-Review, International Journal of Sensor Networks and Data Communications, 7/2021.

[7] Broughel, James & Thierer, Adam, Technological Innovation and Economic Growth, Mercatus Center, 3/4/19.