Why Cathie Wood’s ARK Is Investing in OpenAI – Investopedia

Key Takeaways

• Cathie Wood’s ARK Venture Fund said it has invested in OpenAI, raising its stake in the artificial intelligence (AI) boom.
• ARK announced its investment in the Microsoft-backed ChatGPT maker in an email to clients Thursday.
• “OpenAI is at the forefront of a Cambrian explosion in artificial intelligence capability,” ARK said in the email.
• The ARK Venture Fund also holds investments in Amazon-backed AI startup Anthropic.

Cathie Wood’s ARK Venture Fund said it has invested in OpenAI, raising its stake in the artificial intelligence (AI) boom.

ARK told clients about its investment in the Microsoft-backed (MSFT) ChatGPT maker through an email Thursday after market close. ARK said the fund was invested in OpenAI as of Wednesday.

“OpenAI is at the forefront of a Cambrian explosion in artificial intelligence capability,” ARK said in the email.

ARK noted OpenAI has “produced several of the most influential breakthroughs in foundational AI research, including both the GPT and DALLE series of models” and launched “the first major consumer application of generative AI, ChatGPT, which is the fastest application in history to grow to 100 million active users.”

The ARK Venture Fund also holds investments in other leading AI companies including Amazon-backed (AMZN) Anthropic.

ARK Investment is known for making big bets on new technology, and has historically invested in companies that it recognizes “to be the leaders, enablers, and beneficiaries of disruptive innovation.”