$Defiance AI & Power Infrastructure ETF(AIPO.US)

Context: AIPO gives exposure to companies benefiting from the growing demand for AI infrastructure and power. The ETF has been volatile, falling from above US$33 to around US$26 before recovering.

My trade: I built my position gradually, buying shares at US$29.40, US$28.40 and US$26.50 so far. I prefer scaling in rather than trying to predict the bottom. Hope to average down even more.

Takeaway: AI needs enormous amounts of power and infrastructure so the theme is attractive. But AIPO is more speculative than my wide-moat holdings, and I’ll manage the position accordingly. High valuations of most of the companies in this ETF is the main risk I think. Also pace of AI investment over the next few years may change.