Analysis:Nvidia's dizzying rally spurs rush into AI-themed ETFs
Mitsui said in a statement that a special purpose company jointly owned by Mitsui and Rohto would acquire around 86 per cent of Eu Yan Sang from Righteous Crane Holding.
FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
The fervor around artificial intelligence has sparked a gold rush into AI-themed ETFs, as investors seek fresh ways to play the burgeoning technology following breathtaking rallies in market darlings such as Nvidia.
The funds run the gamut from those offering a bouquet of the biggest AI winners to more esoteric themes such as robotics and sound generation. All told, the universe of AI-themed ETFs traded in the United States has soared to $6.88 billion as of the end of February from $2.55 billion a year earlier, Morningstar data showed.
SINGAPORE: Japan's Mitsui & Co said on Thursday (Apr 4) it had teamed up with Rohto Pharmaceutical Co to buy Eu Yan Sang International in a deal valuing the Singapore-based traditional Chinese medicines firm at S$800 million (US$594 million).
