Tema Bets On AI's Next Bottlenecks With New Memory And Photonics ETFs

Tema ETFs has expanded its lineup of artificial intelligence-focused investment products with the launch of the Tema Memory ETF (NYSE:DISK) and the Tema Photonics & Optical ETF (NYSE:LAZR), the firm’s first funds developed in partnership with semiconductor research firm SemiAnalysis. The actively managed ETFs target two critical infrastructure segments expected to benefit from the accelerating buildout of AI computing: memory and photonics.

The new ETFs seek to provide investors with concentrated exposure to companies addressing key constraints in AI infrastructure. DISK focuses on global memory manufacturers spanning NAND flash, High-Bandwidth Memory (HBM), DRAM, and Asian semiconductor companies that are often underrepresented in broader technology funds. LAZR, meanwhile, invests in global photonics and optical technology companies positioned to benefit as AI workloads increasingly require faster, light-based data transmission to overcome the limitations of traditional copper interconnects.

Tema President Steve Munroe said the funds combine the firm’s active management capabilities with SemiAnalysis’ specialized semiconductor research to offer institutional-quality exposure to AI infrastructure areas that remain overlooked by both broad technology and traditional semiconductor ETFs.

Key highlights of the launches include:

• Expense ratio: Both funds carry a gross expense ratio of 0.75%.
• DISK investment focus: Global memory companies involved in NAND flash, HBM, DRAM, and strategically important Asian semiconductor firms.
• LAZR investment focus: Pure-play global photonics and optical technology companies supporting AI data transmission.
• Growth outlook: Global memory chip revenue is projected to increase from $216 billion in 2025 to $758 billion by 2027, while the AI-driven photonics and optical data movement market is forecast to expand ninefold between 2026 and 2028, according to projections cited by the firm.
• Partnership: DISK and LAZR are the first ETFs launched under Tema’s research collaboration with SemiAnalysis, which specializes in semiconductor and AI infrastructure research.

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