Posted 4/12/2024, 1:06:00 AM
Ark Invests in OpenAI, Betting on Leader in AI 'Cambrian Explosion'
- Ark Investment Management has disclosed a stake in AI company OpenAI through its $54 million VC fund
- OpenAI is seen as a leader in the "Cambrian explosion" of AI capability
- Ark believes $16 trillion in market cap will be commanded by "foundation model" AI companies by 2030
- OpenAI has raised huge sums, mostly from Microsoft which has invested $13 billion
- Ark's stake in OpenAI represents about 4% of its venture fund's total holdings