US equity markets (^DJI, ^IXIC, ^GSPC) have gained quite a lot of ground in 2024 year-to-date, with much of their rallies thanks in part to semiconductor and chip stocks like Nvidia (NVDA).

BlackRock US Head of Thematic and Active ETFs Jay Jacobs sits down with Brad Smith on Wealth! as part of Yahoo Finance's ETF Report to discuss several of BlackRock's notable iShares ETFs in relation to the growing AI landscape and the energy and digital infrastructure demands that come with mass adoption.

"What we're focused on is really... the picks and shovels in artificial intelligence. So we believe there's going to be more adoption of AI, full stop. It's a huge technology, it's transformational," Jacobs says. "We believe that about [of] 5% enterprise adoption that we see today is going to move to 80% adoption in the next few years."

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Luke Carberry Mogan.