META - Cathie Wood Says Software Is the Next Big AI Opportunity -- 2 Supercharged Stocks You'll Regret Not Buying if She's Right
2024-07-02 08:55:00 ET
Last year, Ark Investment Management CEO Cathie Wood said software companies will be the next big opportunity in artificial intelligence (AI), predicting they will eventually generate $8 in revenue for every $1 spent on chips from leading suppliers like Nvidia .
Ark operates several funds (both private and exchange-traded) that reflect that stance. Using the Ark Venture Fund, Wood has piled into private AI software companies like OpenAI, Anthropic, and Elon Musk's xAI. Plus, Tesla is the largest holding in the flagship Ark Innovation ETF , which Wood says is the largest AI opportunity in the world thanks to its autonomous self-driving software.
If Wood is right about AI software, there could be a long list of winners in the coming years. Here's why CrowdStrike (NASDAQ: CRWD) and Meta Platforms (NASDAQ: META) might be two of the biggest.
For further details see:
Cathie Wood Says Software Is the Next Big AI Opportunity -- 2 Supercharged Stocks You'll Regret Not Buying if She's Right