New ETF Digs Into Pipes, Power And Plugs Behind The AI Revolution

Tortoise Capital Advisors has debuted the Tortoise AI Infrastructure ETF (NYSE:TCAI), its latest actively managed fund that invests in the infrastructure underpinning the AI revolution.

They’re not investing in trendy AI chatbot startups. Instead, consider the electric grids, data centers, and cooling systems that power the servers running 24/7. As Tortoise’s senior portfolio manager, Rob Thummel explained:

“There's no AI without infrastructure, more specifically, electricity, which we believe is the new oil… TCAI seeks to offer investors a comprehensive solution that taps into this AI theme.”

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What’s In The Fund?

TCAI is constructed on three pillars of AI infrastructure investment:

• Energy – From power generation to pipeline and fuels such as natural gas and uranium, building blocks for sustaining compute-heavy operations around the clock. One of its top energy holdings is GE Vernova Inc. (NYSE:GEV).
• Data Centers – Businesses constructing and expanding the physical spaces where AI resides and churns data. Equinix (NASDAQ:EQUIX) is one of its top data center bets.
• Technology Infrastructure – The racks, cables, storage arrays, and chillers that keep servers humming and alive under stress. Dell Technologies (NYSE:DELL) is among its technology wagers.

Why TCAI Could Stand Out

Tortoise operates in its sweet spot: They’ve traditionally specialized in energy and infrastructure, where they have an edge due to their knowledge of these sectors.

Risk‑disciplined, cycle‑proven approach: The portfolio strategy has navigated varying market conditions, managing energy sector volatility with sophistication.

Built for growth with a safety net: It can play multiple roles—as a thematic high‑growth investment, a diversifier of tangible assets, or an inflation‑hedged equity sleeve.

Snapshot

The Takeaway

Tortoise’s TCAI ETF is betting on the often underappreciated yet critical infrastructure that fuels AI. If you believe AI is here to stay (and most analysts do), this ETF presents a different thesis: invest in where it’s run, not merely who makes it.

With AI set to consume vast infrastructure resources, TCAI invites investors to ride the wave beneath the surface, literally powering AI's engines. Whether it becomes a core holding or a specialized satellite, it offers a fresh lens on AI exposure.

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