RPT — ROI — Passive investing? That S&P 500 index fund is basically a tech fund: McGeever

(Repeats Wednesday's column to additional subscribers without any changes. The opinions expressed here are those of the author, a columnist for Reuters.) By Jamie McGeever ORLANDO, Florida, Sept 23 (Reuters) — Passive investors may be far more exposed to the AI trade than they realize. New data brings into sharp relief the risk that investors are, perhaps unknowingly, putting all of their eggs into the US technology basket. Warnings about tech-sector concentration are nothing new, but the problem is intensifying just as the risks surrounding the artificial intelligence boom are multiplying. If you take into account the tech sector’s share of the S&P 500 market cap — which is within a whisker of June's record high — as well as the communications services sector and other big tech-centric companies, the broader tech universe now makes up more than half of the index's entire $70 trillion market value. The US stock market has rarely been this concentrated and narrow. Investors buying an index-tracking fund may think they're gaining exposure to the top US banks, retailers, energy firms and healthcare giants, as well as the famed tech and AI behemoths. But tech is now so dominant in the