BlackRock (BLK) on Tuesday bolstered its exchange-traded fund lineup with the launch of two new actively managed funds centered on technology growth and artificial intelligence (AI). The world's largest asset manager said it believes the long-term impact of AI will be "profound" despite it still being in early stages.

Asset management giant BlackRock on Tuesday launched two new exchange-traded funds (ETFs) aimed at giving investors exposure to the booming market for artificial intelligence. Generative AI, designed to create human-like interactions by processing vast amounts of data,

BlackRock CEO Larry Fink has downplayed the importance of the upcoming US presidential election, arguing that its outcome will have little long-term effect on financial markets.

The growth of private markets could mitigate the economic impact of wide U.S. deficits and high government debt levels, said Larry Fink, CEO and chairman at BlackRock.