🚨BREAKING: ARK INVESTS IN ELON'S xAI
Cathie Wood's ARK Investment Management has acquired a stake in Elon Musk's AI startup, xAI, recently valued at $24 billion.
This investment now represents about 2% of ARK's total holdings, according to ARK's Chief Futurist, Brett Winton.
The announcement follows xAI's recent $6 billion Series B funding round, which saw participation from major investors like Andreessen Horowitz and Sequoia Capital.
ARK's venture fund had previously revealed investments in other AI entities, including OpenAI and Anthropic, highlighting its strong focus on cutting-edge technology sectors.
