Cathie Wood’s Ark Invest has acquired a stake in OpenAI, the popular artificial intelligence player behind ChatGPT. In an email to clients Thursday, the St. Petersburg, Fla.-based asset manager said its ARK venture fund was invested in OpenAI as of Wednesday. “OpenAI is at the forefront of the Cambrian explosion of artificial intelligence capabilities, having achieved some of the most influential breakthroughs in basic AI research, including the GPT and DALLE series of models, and the launch of the first major consumer application of generative AI, ChatGPT. , which is the fastest app in history to grow to 100 million active users,” Arc said in an email. Wood’s firm launched the venture fund in September 2022, giving small investors access to the venture capital market for as little as $500. The fund has invested in more than 40 companies, including SpaceX, Discord and Epic Games. She previously said OpenAI’s ChatGPT has a so-called data advantage, which she believes is the “secret sauce.” Wood added that the chatbot is capable of creating compelling content because it collects the entire history of the internet and answers questions based on that history. The widely known Wood has been a big proponent of artificial intelligence, saying it is the most important catalyst at every stage of her disruptive innovation strategy. She called Tesla, with its robotaxi ambitions, “the biggest AI opportunity in the world.” world.”
