A major ETF-providing firm is betting that the AI ​​boom is just beginning.

Roundhill Investments launched the Generative AI & Technology (CHAT) ETF less than 20 days ago. It is the first exchange-traded fund designed to track companies involved in generative AI and other related technologies.

“We believe that these companies are not just a passing fad. They are powering something that could be as ubiquitous as the Internet,” the company’s chief strategy officer, Dave Mazza, told “ETF Edge” this week. “We’re not talking about hopes and dreams [or] some theme or trend that could happen 30 years from now and that could change the world.”

Mazza notes that the fund includes not just pure AI companies like C3.ai but also large-cap tech companies like Microsoft and AI chip maker nvidia.

Nvidia is the fund’s largest holding with 8%, according to the company’s website. Its shares have risen nearly 42% in the past two months. Since the beginning of the year, Nvidia’s shares have skyrocketed 169%.

“This [AI] It’s an area that’s going to get a lot of attention,” Mazza said.

His bullish forecast comes amid concerns that AI is a price bubble that will burst and topple Big Tech’s rally.

In a recent interview on CNBC’s “Fast Money,” Dan Suzuki of Richard Bernstein Advisors, a Big Tech bear since June 2021, compared the rise of AI to the dotcom bubble of the late 1990s.

“People jump from narrative to narrative,” the firm’s deputy chief investment officer said Wednesday. “I love the technology. I think the applications will be huge. That doesn’t mean it’s a good investment.”

The CHAT ETF is up more than 8% since it began trading on May 18.