Tema ETFs launches PSOX ETF targeting AI power supply components

Tema ETFs has launched the ‘Tema MLCC & PowerSemi ETF’ (PSOX) on the Cboe BZX exchange. This actively managed fund targets the power supply chain essential for AI infrastructure, specifically focusing on Multi-Layer Ceramic Capacitors (MLCC) and power semiconductors.

As AI data centers transition toward 800V DC architectures to manage rising power consumption, the demand for these components is expected to surge. Research from SemiAnalysis suggests that demand for MLCCs used in AI servers could increase fivefold by 2027. Additionally, the cost proportion of power semiconductors per rack may rise significantly due to these structural shifts.

As of late August, the fund's top holdings include Delta Electronics (10.62%), Infineon Technologies (10.12%), Murata Manufacturing (9.81%), Samsung Electro-Mechanics (9.15%), and Yageo (8.56%). Geographically, the fund is heavily weighted toward Taiwan (29.84%), the United States (21.76%), Japan (19.91%), and Germany (14.55%). The ETF carries an expense ratio of 0.75%.