Yorkville America Equities has launched the Yorkville America Next Generation Memory Index ETF, trading on the NYSE under the ticker NRAM. The fund tracks the YA MarketVector Next Generation Memory Index, which targets 20 companies involved in designing, developing, manufacturing and supplying physical memory technologies. Its largest holdings include Micron Technology at 16.44%, SK Hynix at 15.10% and SanDisk at 14.82%, with Seagate Technology Holdings and Western Digital also receiving meaningful weightings. The launch comes as demand for high-bandwidth memory, or HBM, grows alongside increasingly memory-intensive AI accelerators. Mirae Asset Securities expects demand to remain strong as chipmakers move toward HBM4 and increase memory capacity per accelerator. AMD's MI455X is expected to feature 12 HBM4 stacks and 432GB of memory, while Nvidia's Rubin platform features 288GB. Meta Platforms and Microsoft are also increasing HBM capacity in custom AI accelerators, broadening potential demand beyond Nvidia. Counterpoint Research said SK Hynix held 50% of HBM revenue in the second quarter, compared with 33% for Samsung Electronics and 18% for Micron. Tight supply has also contributed to higher prices in China's AI-chip market, with Huawei raising Ascend 950DT prices by as much as 50% and Cambricon increasing prices for its next-generation chip by 20% to 30%, Reuters reported. NRAM joins the Roundhill Memory ETF, which offers a more concentrated exposure to memory and storage companies. Investors seeking broader semiconductor exposure can consider the VanEck Semiconductor ETF and iShares Semiconductor ETF, while the iShares MSCI South Korea ETF provides exposure to major South Korean memory producers. The competing fund structures highlight different ways to participate in an AI investment cycle increasingly dependent on the companies supplying the memory required to operate advanced processors.