Some of the biggest names in artificial intelligence and space are being packaged into a single new investment product.
According to Benzinga, fund provider ProShares has filed for a new exchange-traded fund nicknamed "FAB 10" that would include OpenAI, Anthropic and SpaceX alongside chipmaker Nvidia. An ETF is a basket of holdings that trades on an exchange like a single stock, giving ordinary investors one-click exposure to everything inside it.
What makes this filing notable is that OpenAI, Anthropic and SpaceX are privately held. Unlike Nvidia, they don't trade on public markets, so most retail investors have had no easy way to buy a stake. A fund built around them would be one route to that exposure.
The development feeds into a larger debate about how and when these private giants might enter mainstream stock indexes. Seeking Alpha frames the issue around "the S&P 500 inclusion question and investment consequences" for SpaceX, OpenAI and Anthropic — examining what it would mean for investors if companies of this scale eventually crossed over into the benchmark index that anchors many retirement and pension portfolios.
The two sources here are headlines and framing rather than detailed disclosures, so specifics — fund mechanics, launch timing, and exactly how the ETF would hold stakes in private firms — are not spelled out in the items provided.
Still, the direction is clear: financial product designers are racing to give everyday investors a way to bet on the companies driving the AI and commercial-space booms, even before those firms go public.
Why it matters: it signals that Wall Street is finding new ways to channel ordinary investors' money into private AI and space leaders that have so far been off-limits to them.