Cathie Wood’s Ark Invest Discloses Investment in OpenAI

Ark Investment Management, led by Cathie Wood, has made a bold move by investing in OpenAI, the artificial intelligence company. On April 10, Ark revealed this news to their investors through an email, emphasizing the significant impact of AI innovation on the market. Brett Winton, Ark’s Futurist Strategist, predicted that AI companies like OpenAI could reach a market cap of $16 trillion by 2030.

Ark’s investment in OpenAI was not a typical stock purchase, but rather a strategic move using specialized financial tactics. The specific details of the investment and the amount of money involved have not been disclosed by Ark or OpenAI.

However, it is known that OpenAI now constitutes 4% of Ark’s venture fund portfolio. Additionally, Ark has also invested in another AI player called Anthropic.

Brett Winton expressed his admiration for OpenAI’s Sora model, a tool that converts text into video. He believes that the rapid development of AI is truly remarkable and wants Ark to actively participate in this transformative industry.

Despite their focus on AI, Ark has not overlooked the crypto market. In a recent report, they highlighted a 16.5% increase in Bitcoin’s price in March, reaching $71,288. While some long-time Bitcoin holders have been selling their holdings, Ark remains optimistic as new investors are entering the market, attracted by the potential of cryptocurrencies. They view this as just the beginning of a bullish trend for the market.

Ark’s investment strategy is supported by a diverse portfolio that includes companies from various sectors. As of the end of March, their top 10 investments included Epic Games, Freenome, Relation Therapeutics, and SpaceX.

Overall, Ark Investment Management’s investment in OpenAI showcases their commitment to seizing opportunities in the rapidly evolving world of AI, while also recognizing the potential of the crypto market.