Key Points Most AI ETFs are diluted with software and chip companies rather than the physical infrastructure that determines how fast AI scales. Hyperscalers are spending roughly $350 billion in 2025 on data centers and chips, creating sustained demand for power-dense real estate. One ETF captures data center operators and digital infrastructure without the megacap software exposure that dominates broader technology funds. 10 stocks we like better than Global X Funds - Global X Data Center & Digital ...