An asset manager whose stocks are picked by artificial intelligence dumped shares in Facebook this month, as it made massive bets on US energy companies.

AI-driven investor Qraft saw its robot trader reflect the pressure on Facebook shares and the impact of soaring oil prices on energy stocks as it made adjustments to two of its exchange-traded funds (ETFs). Qraft, a South Korean fintech, has more than $61m in assets across four different ETFs.