DUOL - Cathie Wood Says Software Is the Next Big AI Opportunity -- 2 Super Stocks You'll Wish You'd Bought Today if She's Right
2024-06-22 17:00:00 ET
Ark Investment Management operates eight exchange-traded funds (ETFs) that invest primarily in innovative technology stocks. Last year, Ark CEO Cathie Wood said software companies will be the next big opportunity in artificial intelligence (AI), predicting they could generate $8 in revenue for every $1 spent on chips from suppliers like Nvidia .
Ark's ETFs reflect that stance. Tesla stock is the largest holding in the flagship Ark Innovation ETF because Wood has called its self-driving software the biggest AI opportunity in the world. Plus, Wood recently acquired stakes in leading AI software companies like OpenAI, Anthropic, and Elon Musk's xAI through the Ark Venture Fund.
If Wood is right about AI software, several stocks could be set for substantial gains in the coming years. Here's why Amazon (NASDAQ: AMZN) and Duolingo (NASDAQ: DUOL) might be among them.
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Cathie Wood Says Software Is the Next Big AI Opportunity -- 2 Super Stocks You'll Wish You'd Bought Today if She's Right