ProShares is looking to expand its lineup of thematic leveraged ETFs with a new product tied to the fast-growing artificial intelligence infrastructure trade.



The ETF issuer filed for the proposed ProShares Ultra AI Computing Power ETF, which is designed to provide leveraged exposure to companies benefiting from rising demand for AI chips, cloud infrastructure, high-performance computing and data-center expansion.



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While the filing does not yet disclose a ticker, benchmark index or complete holdings list, ProShares' &#34;Ultra&#34; branding typically refers to funds targeting 2x daily returns of an underlying index. The prospectus also references &#34;Understanding the Risks and Long-Term Performance of a 2x Daily Objective Fund,&#34; suggesting the ETF will operate as a leveraged daily-reset product. 



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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, shared the news of the filing in a post on X, calling the ETF “intriguing.”



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<blockquote>New filing for ProShares AI Computing Power ETF which will track GPU compute power futures contracts. Intriguing.. pic.twitter.com/5QQNaO8VXU— Eric Balchunas (@EricBalchunas) May 14, 2026</blockquote>
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<h2>AI Infrastructure Is Becoming The Market's Hottest Theme</h2>



The filing comes as investors increasingly shift focus from consumer-facing AI applications toward the infrastructure powering the broader AI ecosystem.



Companies tied to GPUs, semiconductors, networking equipment, cloud computing and data center power systems have become some of the biggest beneficiaries of the AI spending surge in the U.S. market. Firms such as Nvidia and Broadcom have seen heightened investor interest as hyperscalers ramp up AI-related capital expenditures.



Major technology firms are also pouring billions into AI infrastructure expansion. Amazon is reportedly expected to spend nearly $200 billion on capital expenditures in 2026, with a significant portion directed toward AI and cloud infrastructure investments.



That apart, the “second wave” of AI adoption is also gathering momentum. The broader market has recently begun to favor “AI monetizers” over pure “AI builders.” For the past few weeks, investors have been piling into Alphabet after it posted strong AI-driven cloud growth. This signals that Wall Street is increasingly rewarding firms capable of converting massive AI investments into scalable revenue streams rather than simply supplying chips and hardware.



Moreover, on Wednesday, Nebius Group (NASDAQ:NBIS) posted explosive quarterly results fueled by soaring AI spending, sending its shares surging in double digits, highlighting sharp investor interest.



Now, ProShares is looking to capitalize on the first, as well as the second, wave of AI adoption with its new ETF, which is promising.



<h2>ETF Issuers Are Racing To Capture AI Demand</h2>



The proposed fund also highlights the intensifying competition among ETF issuers to launch increasingly niche AI-focused investment products.



Over the past year, the market has seen launches tied to AI robotics, humanoid automation, semiconductor ecosystems, cloud computing and AI-powered industrial systems. Leveraged and options-based AI products have also gained traction as traders seek amplified exposure to one of the market's strongest momentum themes



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ProShares has filed for the Ultra AI Computing Power ETF, a proposed 2x leveraged fund targeting AI infrastructure, semiconductors, data centers, and cloud computing stocks. This move reflects the growing investor interest in AI infrastructure, with major firms like Nvidia and Amazon ramping up capital expenditures. The ETF aims to capitalize on the rising demand for AI-related technologies as competition among ETF issuers intensifies.

- ProShares has filed for the ProShares Ultra AI Computing Power ETF to provide leveraged exposure to companies involved in AI infrastructure, focusing on demand for AI chips and cloud services.  
- The ETF aims to operate as a daily-reset product, reflecting the increasing investor interest in infrastructure supporting AI, with major firms like Amazon planning significant capital expenditures for AI and cloud investments.  
- The filing illustrates the competitive landscape among ETF issuers to capture AI-related investment opportunities, responding to shifting market trends favoring AI monetizers and infrastructure rather than just hardware suppliers.

Innovative AI-Themed ETF Arrives With New Filing By ProShares