00:00 It's Benzinga and here's what's on the block.
00:02 Cathie Wood's ARK Invest has taken a stake in Elon Musk's artificial intelligence startup,
00:07 XAI, as she deepens her big bet on artificial intelligence.
00:11 ARK Venture Fund has invested in XAI as of May 2024. The fund also invests in other AI
00:17 companies like OpenAI, FigureAI, and ShieldAI. Cathie Wood is a well-known AI bull and considers
00:23 Tesla the biggest AI opportunity due to its robo-taxi ambitions. She also views OpenAI
00:29 as being at the forefront of a Cambrian explosion in AI. ARK Venture Fund targets smaller investors
00:34 to access private companies with investments as low as $500. It has invested in nearly 50
00:40 private companies. For all things money visit Benzinga.com
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