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00:02Cathie Witt's ARK Invest warned that the artificial intelligence boom could force
00:06weaker companies out of the market as capital and talent concentrate among a small group of leaders.
00:11In a post on X, ARK said widening performance gaps and rising capital requirements are making
00:17it harder for smaller players to remain competitive. The firm said building frontier
00:21AI models now requires vast computing power, massive data sets, and billions of dollars in
00:27funding. ARK director of research Frank Downing said Inflection AI raised more than $1 billion
00:32but failed to train a competitive model or build a consumer product. Its team was later absorbed
00:38and its intellectual property licensed by Microsoft. Downing said similar outcomes could occur as
00:43mergers accelerate and computing resources shift to stronger AI developers. For all things money,
00:49visit Benzinga.com.
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