Cathie Wood’s $60M Venture Fund Invests in Elon Musk’s xAI
Ark Investment buys stake in Elon Musk’s AI startup xAI.
xAI stake represents 2% of Ark Venture Fund’s holdings.
Follows Ark's investments in OpenAI (4%) and Anthropic (5%).
Ark Chief Futurist predicts AI models worth trillions by decade's end.
xAI benefits from access to X’s distribution and real-time data.
xAI raised $6 billion in series B funding in May 2023.
Ark Venture Fund launched in September 2022, includes public and private firms.
Private companies comprise around 80% of Ark Venture Fund’s holdings.
Fund includes investments in SpaceX, Epic Games, Freenome Holdings, and Relation Therapeutics.
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101843152 : you don't need an AI company to to create AI. You need to have a business, which natural AI will come to help as technology advance
ZnWC : According to Bloomberg report, x.AI, Elon Musk's artificial intelligence startup haa a post-money valuation of $24 billion.
Cathie Wood's Ark buys stake in Musk's xAI - Bloomberg reports
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