Goldman Tech ETF Has Returned 33% Year to Date

The fund captures gains by concentrating assets in major artificial intelligence hardware and cloud infrastructure players.

Updated on Oct. 7, 2026 in Artificial Intelligence

Bold geometric illustration in navy, cream, and red showing a stylized industrial cooling tower representing AI data center infrastructure. — The Goldman Sachs Technology Opportunities ETF has posted a 33% year-to-date return, bolstered by heavy concentration in AI-focused infrastructure assets. AI Illustration. Upload story photo >

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The Goldman Sachs Technology Opportunities ETF has delivered a 33.41% return year to date, driven by its concentrated bet on AI-focused infrastructure companies. The actively managed fund maintains $770 million in total assets across 36 distinct securities.

Why it matters

The fund is positioned to capitalize on surging capital expenditure for AI infrastructure, a trend highlighted by Alphabet’s projected $205 billion capital spending for 2026. This strategy reflects the broader industry pivot toward large-scale data center and compute investments.

The fund holds 36 securities with a 0.65% expense ratio, heavily weighted by Nvidia at 13.29% and Alphabet at 8.70%. The 10 largest holdings account for 55.8% of total assets, reflecting a highly concentrated approach to AI market exposure.

The players

Goldman Sachs Technology Opportunities ETF

An actively managed financial vehicle focused on technology sector equities.

Nvidia

A designer of graphics processing units that serve as the fundamental hardware for AI training.

Alphabet

The parent company of Google and Google Cloud, which operates large-scale infrastructure for AI development.

Advanced Micro Devices

A semiconductor company that produces processors and AI accelerators for data centers.

Apple

A consumer electronics and computing hardware company investing in on-device AI capabilities.

The details

The ETF employs active management strategies to select technology holdings based on their exposure to AI infrastructure. This includes significant allocations to companies like Advanced Micro Devices and Apple, which integrate into the broader AI compute stack. The fund’s performance is anchored by the financial output of firms like Alphabet, where Google Cloud recently reached $24.8 billion in quarterly revenue.

2026-10-07
Nvidia market capitalization approached $6 trillion.
2026: Global artificial intelligence investment is projected to exceed $1 trillion.
2027: Advanced Micro Devices plans to grow chip supply.

The Tech Race

The fund’s heavy allocation to infrastructure providers aligns with the global surge in AI compute investment. It competes for capital by betting on firms that will scale to meet the projected $1 trillion in spending expected by 2026.

Investors can monitor how this concentrated approach shifts as Advanced Micro Devices expands its chip supply in 2027. The fund's performance serves as a proxy for the broader appetite for AI infrastructure stocks among institutional and individual investors.

The takeaway

This fund demonstrates the high-conviction bet on AI infrastructure as the primary engine of modern tech market growth. Investors should watch the 2027 supply expansion from chipmakers to determine if current growth rates remain sustainable.