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, offering investors a way to "hedge their exposure to the AI trade," reports Axios. From the report: "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. The ex-AI index is a compilation of all the...