It is probably impossible to hedge against a FOOM scenario. But it seems like there are plausible 'slow' but still transformative AI scenarios we might want to hedge against.
Here is an example of a portfolio you could construct:
40% VUG (covers most larger us tech companies, has some stuff you don't specifically want but gives you some hedging)
40% IGV (smaller us tech companies)
20% CQQQ (china, really high expenses but oh well)
A related question is how you could add exposure to an existing more balanced portfolio. (example answer: Buy CQQQ and IGV)
I am fully aware that trying to get lots of exposure to AI progress is the opposite of diversification for most lesswrong users. But if you are expecting rapid progress soon it might still be worth doing.
Some sub-questions that might be useful:
-- Which US Tech ETfs are most useful
-- Should people buy specific stocks instead of ETFs? Which ones?
-- How should we get Exposure to China? Do we want/need China tech exposure?
-- How do we get exposure to areas besides the USA and China? Do we need to?
-- Should we invest in land if we expect AI progress?
-- Should we directly invest in hardware (Nvidia has already gone up a lot)?