The asset manager stated, “OpenAI leads a Cambrian explosion in AI capability.”
Ark Investment Management, headed by Cathie Wood, disclosed its investment in OpenAI, citing its leading position in AI innovation.
What was stated by Ark’s Chief Futurist and member of the Investment committee?
Brett Winton, Ark’s Chief Futurist and a member of the investment committee, expressed, “The pace of progress in the foundation model space has surpassed our expectations, and we believe foundation model-type companies could reach a prospective market cap of $16 trillion by 2030.”
What do you need to know about Ark Investment Management?
Ark Investment Management launched its fund in September 2022, investing in both public and private firms, including SpaceX, Epic Games Inc., Freenome Holdings Inc., and Relation Therapeutics. The venture fund predominantly consists of private companies, comprising nearly 80% of the total holdings.
What is the total amount of money raised by OpenAI?
OpenAI secured significant funding from Microsoft, totaling $13 billion. Additionally, it facilitated a tender offer for employees to sell shares at an $86 billion valuation. Ark invested in the company through a special purpose vehicle. Brett Winton noted that OpenAI will constitute approximately 4% of the Ark venture fund’s holdings, while the fund also holds a stake in rival Anthropic, comprising about 5% of the same fund.
Brett Winton remarked, “The Sora model is astonishing, and the rapid pace of innovation prompted us to seek exposure.”
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