Cathie Wood Invests in OpenAI, Citing Leadership in AI’s ‘Cambrian Explosion’

Cathie Wood’s investment firm, Ark Invest, has bought shares in OpenAI, the company known for ChatGPT, a popular AI program.

In an email to clients on Thursday, Ark Invest based in St. Petersburg, Florida announced that its ARK Venture Fund has invested in OpenAI.

ChatGPT gains popularity, surpassing 100 million users, revolutionizing communication. (Credits: Pexels)

The email praised OpenAI for its significant contributions to artificial intelligence research, including developing advanced AI models like GPT and DALLE and creating ChatGPT, a widely-used AI tool with over 100 million users.

Cathie Wood’s firm started the venture fund in September 2022, allowing small investors to invest in startups with as little as $500. The fund has invested in more than 40 companies, including SpaceX, Discord, and Epic Games.

Wood’s ARK Venture Fund enables small investors to access startup opportunities. (Credits: Shutterstock)

Wood has mentioned that ChatGPT’s strength lies in its access to vast amounts of data from the internet, enabling it to generate realistic responses.

Wood is known for her strong support of AI technology, considering it a crucial factor in her strategy for disruptive innovation. She has also highlighted Tesla’s potential in the AI field and praised DeepMind, an AI research lab owned by Google, as one of the top AI companies.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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