Goldman Sachs Launches AI-Free Index

Source: Slashdot

Goldman Sachs Launches AI-Free Index

Goldman Sachs has launched an “S&P ex‑AI” index (SPXXAI) that tracks the S&P 500 stocks not related to AI. The index offers investors a way to “hedge their exposure to the AI trade,” according to Axios.

“Excluding ‘AI enablers’ from the passive benchmark would eliminate the noise introduced by the AI hype,” Louis Miller, head of the firm’s equity custom basket desk, wrote in a note to clients about the new index.

Details

• The ex‑AI index comprises all S&P 500 constituents that are not related to AI, often referred to as old‑economy stocks.
• It is available exclusively to Goldman customers and was created in collaboration with S&P Dow Jones Indices.
• AI‑related companies represent ≈ 45 % of the S&P 500. Removing them leaves a relatively small portion of the index.
• Over the past three years, the S&P 500 has risen 76 %, whereas the ex‑AI index has risen only 32 % in the same period.