Key Takeaways:
-The three newest companies added to the ROBO Global Artificial Intelligence Index (THNQ) have become the No. 1, No. 2, and No. 9 best performers within the strategy quarter-to-date, highlighting the impact of strategic, timely inclusions.
-Massive global investments in AI infrastructure, particularly in energy-efficient datacenters, continue to fuel significant growth opportunities.
-Emerging international collaborations are acting as powerful catalysts for U.S. chip and datacenter-related enterprises.
The artificial intelligence sector’s rapid evolution demands a nimble and research-intensive investment approach. The ROBO Global Artificial Intelligence Index (THNQ) undergoes a quarterly rebalancing process, meticulously guided by the research team’s proprietary scoring methodology. This process is designed not just to maintain alignment, but to proactively identify and integrate companies at the forefront of AI innovation.
The March 2025 rebalancing was, in part, a tactical response to compelling market dynamics: a trillion-dollar global surge in demand for next-generation, energy-efficient datacenters, coupled with valuation opportunities in specific segments affected by factors like tariff-led sell=offs earlier in the year.
The broader market narrative from the recent earnings season points to accelerating AI-driven demand. This is further amplified by new international partnerships. For example, recent agreements involving Middle Eastern nations are unlocking significant avenues for U.S. chipmakers and datacenter solution providers, including substantial technology development initiatives in Saudi Arabia and the UAE’s ambition to build one of the world’s largest AI datacenters.
These developments are particularly encouraging, alleviating earlier concerns about potential slowdowns in trade and CapEx cycles. Indeed, the pipeline for AI-related capital expenditure is robust, with McKinsey forecasting potential AI infrastructure spending between $5.2 trillion and $6.7 trillion by 2030.
Spotlight on THNQ's Newest High-Impact Additions
The following three companies, the latest additions to THNQ in the March rebalancing, exemplify the strategy’s focus on capturing emerging leaders:
Nebius Group N.V. (NBIS)
Performance: Since its recent inclusion following a notable market correction earlier in the year, Nebius has seen a strong resurgence. Midway through Q2 2025, it is THNQ’s top performer quarter-to-date, up 77.9% so far.
Business Lines & Drivers: Nebius Group is at the heart of AI infrastructure, offering a specialized AI-centric cloud platform (including Nebius AI Studio and Tracto.ai) for intensive AI workloads. Its growth is propelled by the soaring demand for AI compute and its commitment to deploying advanced technologies like Nvidia’s Blackwell GPUs.
The company achieved 242% revenue growth in FY2024 to $396.3 million, with strong growth (~65% projected by some analysts for 2025) anticipated from new AI product rollouts and expanding data center applications.
Interesting Fact: Netherlands-based Nebius represents the international AI and cloud operations that emerged from the restructuring of Yandex N.V. It’s led by Yandex co-founder Arkady Volozh, bringing decades of large-scale technology development and leadership experience directly into the competitive global AI infrastructure race.
Recent Catalysts: Around May 9, 2025, reports indicated that Clickhouse, where Nebius holds a 28% stake, is pursuing new funding at a $6 billion valuation. This represents a more than threefold increase from its prior valuation and would elevate Nebius’ stake to approximately $1.68 billion (pre-dilution), underscoring significant underlying asset value. Additionally, Nebius posted further gains from a strong Q1 earnings season.
Astera Labs (ALAB)
Performance: Also one of the newest additions, Astera Labs is THNQ’s second-best performer quarter-to-date so far, up 51.3%.
Business Lines & Drivers: Astera Labs provides critical semiconductor-based connectivity solutions (PCIe, CXL, Ethernet) essential for high-performance AI and cloud infrastructure. Their portfolio includes Aries Retimers, Taurus Smart Cable Modules, and Scorpio Switches.
The company achieved 242% revenue growth in FY2024 to $396.3 million, with strong growth (~65% projected by some analysts for 2025) anticipated from new AI product rollouts and expanding data center applications.
Innovation Factor: California-based Astera Labs was founded with a clear mission: to solve critical connectivity bottlenecks in data-intensive systems. It is known for its purpose-built solutions designed specifically for hyperscalers and the demanding bandwidth requirements of AI workloads, often pioneering new connectivity standards.
Recent Catalysts: Astera is riding the wave of increased datacenter investment and has benefited from positive analyst outlooks in early 2025. Significantly, on May 19, 2025, Astera Labs announced an expanded collaboration with Nvidia to develop scale-up connectivity solutions for the Nvidia NVLinkFusion ecosystem, reinforcing its pivotal role in enabling next-generation AI systems.
Super Micro Computer (SMCI)
Performance: The third of THNQ’s latest additions, Super Micro, has quickly contributed to performance and is the No. 9 best performer quarter-to-date so far within the strategy.
Business Lines & Drivers: California-based Super Micro is a global leader in application-optimized, high-performance server, and storage solutions vital for AI, data centers, and cloud computing. Demand for its AI server infrastructure, especially systems leveraging Nvidia’s GPUs (with AI-related platforms now ~70% of revenue), is a primary growth engine. The company has demonstrated strong multiyear revenue growth, with continued expansion anticipated by analysts.
Innovation Factor: A cornerstone of Super Micro’s long-term success is its “Building Block Solutions’” design philosophy. This modular approach allows for rapid customization and integration of the latest technologies, enabling them to be consistently first-to-market with optimized server solutions for new processors and accelerators, including an early focus on energy-efficient green computing.
Recent Catalysts:
- Market Validation: Around May 13, Raymond James initiated coverage with an “Outperform” rating, terming SMCI an “AI Pure Play,” highlighting its strong positioning.
- Major International Expansion: On May 14, Super Micro announced a strategic partnership (MOU with an estimated $20 billion minimum product value) with Saudi datacenter firm DataVolt. This venture aims to establish hyperscale AI campuses in Saudi Arabia, signaling significant international demand.
- Innovation for Efficiency: The same day, SMCI unveiled its advanced Direct Liquid-Cooling (DLC-2) technology. This is crucial for the industry as it aims to cut datacenter electricity use by up to 40% and reduce total ownership costs, addressing the critical need for sustainable and cost-effective AI scaling.
Navigating the Evolving AI Ecosystem
The immediate positive impact of these latest additions to THNQ underscores the dynamic opportunities within the AI sector and the importance of a research-driven approach to identify companies enabling its broad advancement.
The AI revolution is a comprehensive ecological shift, extending beyond just chips and datacenters to incorporate big data analytics, innovative application layers, advanced connectivity, and essential cybersecurity frameworks. This interconnected system is fundamental to AI’s continued growth and its power to reshape industries. For investors, this presents a vast and varied landscape of opportunity, which THNQ is strategically positioned to navigate.
Additionally, our next webinar, “The dynamic trends shaping robotics, AI, and healthcare,” will be Thursday, June 5, 2025, at 11 a.m. ET. Register here.
THNQ is the underlying index for the ROBO Global Artificial Intelligence ETF (THNQ) and the L&G Artificial Intelligence UCITS ETF (AIAI.LN).
For more news, information, and analysis, visit the Artificial Intelligence Channel.
VettaFi is the index provider for THNQ ETF and AIAI.LN, for which it receives an index licensing fee. However, THNQ ETF and AIAI.LN are not issued, sponsored, endorsed, or sold by VettaFi. VettaFi and its affiliates have no obligation or liability in connection with the issuance, administration, marketing, or trading of THNQ ETF and AIAI.LN.
