Roundhill Files for Neocloud ETF Targeting GPU-as-a-Service Infrastructure

Roundhill Investments has filed with the SEC for a new ETF targeting the fastest-growing AI infrastructure segment: companies renting out GPU capacity for machine learning.

The Roundhill Neocloud ETF, proposed under the ticker $NCLD, focuses on specialized cloud operators that prioritize raw GPU horsepower over traditional hyperscalers like AWS, Azure, and Google Cloud.

These 'Neocloud Companies' operate high-density AI data centers, GPU-as-a-Service platforms, and high-speed networking. ABI Research forecasts Neocloud providers will generate over $65 billion in GPUaaS revenues by 2030.

Roundhill already manages the Generative AI & Technology ETF (ticker CHAT) and the Memory ETF (DRAM). The Neocloud ETF was filed on May 22, 2026. The filing omits specific holdings and expense ratio, but the definition separating true GPU cloud specialists from traditional operators will determine if $NCLD offers differentiated exposure.