NEW YORK--(BUSINESS WIRE)--AllianzGI Artificial Intelligence & Technology Opportunities Fund (the "Fund") announced today that the underwriters of its initial public offering of common shares, which closed on October 31, 2019, partially exercised their over-allotment option having purchased an additional 2,068,135 common shares of the Fund. The closing of the partial exercise of the overallotment option occurred on November 19, 2019. The gross proceeds of $41,362,700 from the partial exercise of the over-allotment option brings the total amount raised in the Fund's initial public offering to $656,362,700. The Fund's common shares are listed on the New York Stock Exchange under the symbol "AIO." Pursuant to their over-allotment option, the underwriters of the Fund's initial public offering may still exercise the right to purchase up to an additional 2,544,365 common shares of the Fund until December 12, 2019, which would bring the total amount raised in the Fund's initial public offering to $707,250,000.

NEW YORK–(BUSINESS WIRE)–Allianz Global Investors ("AllianzGI"), one of the world's leading active investment managers, announced today that the AllianzGI Artificial Intelligence & Technology Opportunities Fund (the "Fund") has completed its initial public offering. The Fund raised $615,000,000 in its common share offering, excluding any exercise of the underwriters' option to purchase additional common shares. The Fund commenced trading on the New York Stock Exchange ("NYSE") on October 29, 2019, under the ticker symbol "AIO." The Fund is a diversified, limited-term, closed-end fund whose investment objective is to provide total return through a combination of current income, current gains and long-term capital appreciation. The Fund has a limited term feature pursuant to which it intends to terminate on or about October 29, 2031 (the "Dissolution Date").