Elon Musk‘s longtime supporter, Cathie Wood, founder of Ark Investment Management, doubled down on her praise for the Tesla, Inc. (NASDAQ:TSLA) CEO. This time, she lauded the company’s decision to ramp up investment in artificial intelligence.
What Happened: “At a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends, and share repurchases NOW, #Tesla’s increased investment in the largest #AI project on Earth is separating it from the auto and tech packs,” Wood wrote on social media.
This post echoed remarks Musk made earlier, where he agreed with Wood’s assessment of Tesla being “the biggest AI project on earth.”
Consistent View From Wood: Wood’s praise for Tesla’s AI focus isn’t new. During an early April appearance on CNBC’s Squawk Box, she emphasized, “This is the biggest AI project in the world. We’re in a bit of a trading range and we will be until more and more analysts ...