Will resolve to YES if the Intelligent Livermore (LIVR) ETF outperforms the S&P 500 from inception through the end of 2025.

Will resolve to NO if it underperforms, never launches, or delists before the end of 2025.

Intelligent Alpha employs an investment committee built on three large-language AI models — GPT, Claude, and Gemini — to construct various investment strategies.

The firm’s first ETF, launching today, is the Intelligent Livermore ETF (LIVR), named for famed trader Jesse Livermore.

After more than a year testing dozens of strategies, LIVR will be the first public offering of an AI-powered investment strategy built entirely on large-language models. The evolution of AI to current large-language models from the prior popularity of machine learning models has enabled the technology to provide differentiated investment analysis compared to human peers to enable a variety of investment styles. At launch, the LIVR portfolio will focus on opportunities in AI, Latin American equities, Asian equities, renewables and energy, and defensive stocks as selected by the AI investment committee.

https://www.businesswire.com/news/home/20240918217808/en/Deepwater-Managing-Partner-and-AI-Investing-Expert-Launches-New-Investment-Firm-Intelligent-Alpha-and-First-ETF-to-Deliver-Alpha-Generating-AI-Powered-Investments

• Update 2025-12-10 (PST) (AI summary of creator comment): The ETF ticker changed from LIVR to GPT in September 2024. Performance comparisons should use the GPT ticker.