Cathie Wood’s Ark invests in Elon Musk’s AI startup xAI

Cathie Wood's Ark Investment Management has acquired a stake in Elon Musk's AI startup, xAI, marking another significant bet on the burgeoning AI industry. The investment, about 2% of Ark Venture Fund's holdings, highlights xAI's unique access to X's distribution and real-time data. This follows Ark's earlier investments in OpenAI and Anthropic, as Wood continues to back Musk and the transformative potential of AI.

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By Isabelle Lee

Cathie Wood's Ark Investment Management has purchased a stake in Elon Musk's artificial-intelligence startup xAI, part of a growing wager that the nascent AI industry will revolutionize global tech.

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