Data centers used to top out at around 50 megawatts. The next wave of facilities will draw more than a gigawatt apiece, consuming more power than entire cities the size of San Francisco.
The Tortoise AI Infrastructure ETF targets the physical infrastructure powering AI, offering exposure beyond typical tech-focused funds. TCAI emphasizes foundational assets—energy, data centers, and tech infrastructure—positioning for secular, long-term AI-driven growth. With a 0.65% fee and $117MM AUM, TCAI is structured for total return, not income, and aims to outperform the S&P 500.
Tortoise AI Infrastructure ETF (TCAI) primarily invests in AI-enabling infrastructure with an objective for long-term capital appreciation and an active opportunistic allocation. TCAI has delivered ~68% returns since inception, but recent gains are laregley the results from multiple expansion and market-reratings, not structural cash flow growth. Current elevated valuations and sector enthusiasm reduce forward return expectations, despite strong AI infrastructure tailwinds and high demand prospetcs.