Andova AI lists AI supply-chain ETP on LSE for UK and Europe
Andova AI, an investment platform focused on AI-native portfolio strategies, has launched its AI supply-chain ETP across the UK and Europe following the product's initial listing on the London Stock Exchange in April. Trading under ticker ANDO, the exchange-traded product uses a proprietary AI-driven screening model combined with human analyst oversight to select public companies across what the firm describes as the full AI infrastructure stack, from semiconductor equipment and memory through to cloud compute, data-centre power, quantum computing, and applied AI inside major industries.
The launch targets a structural shift in how institutional and professional investors are approaching AI exposure. For most of the current AI cycle, the dominant trade was a concentrated bet on a handful of semiconductor and hyperscaler names. Andova AI's co-founder Raul Moreno argues that dynamic is changing: "The AI buildout now runs through hyperscalers, neoclouds, memory, networking, power, quantum computing and the companies applying AI inside major industries. The difficult part is working out which parts of that chain are becoming more important as demand moves. That is what Andova AI was built to do."
Rotating beyond the Mag7
The product is positioned as a response to fragmentation in the AI investment landscape. As AI leadership broadens, investors seeking exposure across the full supply chain have typically had to combine multiple single-theme products covering semiconductors, cloud infrastructure, data-centre power and quantum. ANDO is designed to consolidate that exposure into one actively managed line, with allocation between layers able to shift as different segments of the market come into focus.
Andova AI's process screens a global universe of more than 8,000 listed companies using financial, competitive, and valuation signals, alongside a proprietary AI Impact Score. The universe is narrowed into a concentrated portfolio selected for growth potential, quality and valuation. In May 2026, ANDO rose 17.41%, the company reports, supported by strength in memory and cloud-compute infrastructure, though investors are cautioned that past performance is not a reliable indicator of future results and capital is at risk.
Co-founder Juan David Nunez pointed to the anticipated Nasdaq debut of SpaceX as evidence of how quickly the AI opportunity set is evolving: "A static index can only follow that market through its rules, often after the opportunity set has already changed."
The macro backdrop: a $1 trillion infrastructure bet
The timing of the European launch sits within a significant capital mobilisation across AI infrastructure. Morgan Stanley has forecast that hyperscaler capital expenditure could reach $300bn in 2025, with cumulative spend on data centres, semiconductors, grid upgrades and related AI infrastructure expected to approach $1 trillion over the coming years. That spending profile creates a broad and shifting opportunity set, one that did not exist in its current form when most technology benchmark indices were constructed.
For cross-sector investors, the more consequential read-across may be what this capital wave means beyond equities. The AI infrastructure build is placing unprecedented demand on power grids and energy assets, on semiconductor fabrication capacity, and increasingly on quantum hardware pipelines that are still pre-commercial. An actively managed product that can reweight across those layers as the cycle evolves represents a different proposition from the static thematic ETFs that characterised the first phase of the AI trade.
ANDO is available to professional investors only and is issued by Leverage Shares plc, with Andova Capital LLC acting as investment adviser. The product carries the standard risks of a concentrated, actively managed strategy, including potential for higher volatility relative to diversified or index-tracking alternatives.
Whether actively managed AI supply-chain products can consistently outperform cheaper passive alternatives across a full market cycle remains the open question for allocators. For now, the LSE listing gives European professional investors a single-line vehicle to track the broader infrastructure thesis as it matures.