Posted 4/12/2024, 2:10:00 AM
Cathie Wood's Ark Bets $54 Million on OpenAI to Lead 'Explosion' in AI
- Cathie Wood's Ark Venture Fund invested $54M in AI company OpenAI, which competes with Elon Musk's companies
- Ark believes OpenAI is at the forefront of an "explosion" in AI capabilities
- Ark's venture fund invests in private and public companies including SpaceX, Epic Games, and health tech firms
- OpenAI has raised billions from investors like Microsoft, allowing some employees to sell shares
- Ark says OpenAI's new AI model Sora is "mind-blowing," sparking its desire for exposure in the accelerated pace of innovation