Qraft Technologies has decreased its allocation of Nvidia (NVDA) in its AI-enhanced US large-cap ETF (QRFT) from over 6% in May to just 0.7% in June. Qraft Technologies head of AI ETFs Weldon Rice joins Catalysts to discuss the reasons behind the move.

Rice reiterates that Qraft is an AI investment technology company that uses AI to select stocks in its portfolios and changes its holdings every month. "What we've seen over the years with our ETFs, which are now over five years old, is that they tend to sometimes want to take profits in some of these stocks. And Nvidia is one that has had an unbelievable year to date and had a great May. So we feel that the AI model was thinking that it's a great time to take profits," he explains.

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This post was written by Melanie Riehl