Roundhill Investments has submitted a filing to the SEC for the Roundhill Neocloud ETF, targeting the burgeoning sector of GPU-as-a-Service infrastructure. The ETF, proposed under the ticker $NCLD, aims to invest in "Neocloud Companies" that specialize in providing high-density AI data centers and GPU capacity to enterprises. This approach contrasts with traditional cloud services by focusing on raw GPU power for machine learning tasks. The Neocloud ETF represents Roundhill's continued expansion into AI-themed investments, complementing its existing Generative AI & Technology ETF and Memory ETF. The filing, dated May 22, 2026, outlines an investment universe centered on companies involved in GPUaaS platforms, power infrastructure, and high-speed networking technologies. While specific portfolio details remain undisclosed, the ETF seeks to capitalize on the projected $65 billion GPUaaS market by 2030.