Can't Buy OpenAI? This ETF Owns Its Biggest Partners

Core Insights - OpenAI is not publicly traded, but the Alger AI Enablers & Adopters ETF (ALAI) invests in companies within the AI ecosystem, including those that support OpenAI [1] - Major holdings in ALAI include Microsoft, NVIDIA, and Broadcom, which collectively account for 25.4% of the portfolio and have established significant partnerships with OpenAI [2] Investment Strategy - ALAI has achieved a one-year return of 40.3% in 2025, significantly outperforming the category average return of 17.9% [5] - The fund has attracted $265.4 million in net inflows since its launch in April 2024, managing a total of $283.3 million in assets with a 0.55% expense ratio [5] Company Partnerships - Microsoft holds a 27% stake in OpenAI, valued at approximately $135 billion, and has secured a $250 billion cloud services contract with the company [2][3] - NVIDIA, the largest holding in ALAI at 11.4%, plans to invest up to $100 billion in infrastructure for OpenAI, deploying 10 gigawatts of systems [4] - Broadcom, representing 4.28% of ALAI, is set to develop 10 gigawatts of custom AI accelerators for OpenAI, with deployment expected to start in the second half of 2026 [4]