Cloud Computing ETFs Near 52-Week Highs as AI-Fueled Spending Tops $129 Billion
Updated
Updated · Zacks Investment Research · Aug 18
Cloud Computing ETFs Near 52-Week Highs as AI-Fueled Spending Tops $129 Billion
3 articles · Updated · Zacks Investment Research · Aug 18
Summary
$129 billion in Q1 2026 cloud infrastructure spending, up 35% year over year, has pushed cloud-computing ETFs toward 52-week highs as investors chase AI-linked growth.
AI is driving the surge: Gartner sees AI-optimized IaaS spending jumping 96% to $42.3 billion in 2026, while cloud service revenue is on track to exceed $500 billion this year.
The market remains concentrated, with AWS holding 28% share, Azure 20% and Google Cloud 15%; together the top three control more than 60% of global cloud infrastructure.
ETF options highlighted include First Trust's $3.44 billion SKYY, WisdomTree's $331.2 million WCLD, Global X's $350.6 million CLOU and Fidelity's $132.8 million FCLD.
The broader backdrop is still expanding: IDC expects cloud infrastructure spending to reach $213.7 billion by 2028, while neocloud revenues are growing more than 200% annually.