🚀ARK Invest, led by Cathie Wood, has bought a stake in Elon Musk's AI startup, xAI. This move, representing about 2% of ARK's holdings, is another step in ARK's AI-focused strategy. Last month, they revealed 4% of their assets are in OpenAI, and 5% in Anthropic. Brett Winton, ARK's Chief Futurist, believes AI foundation models will be worth "multiple trillions of dollars by the end of this decade." xAI, Musk's latest venture, has recently raised $6 billion in a Series B funding round, boosting its valuation to $24 billion. Musk plans to launch a new data center by fall 2025, dubbed the "Gigafactory of Compute."