December 21, 2023 7:27 PM | 2 min read
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One of the things that Ark Funds is looking into is the rise of artificial intelligence. They were able to get some insights from Elon Musk on artificial intelligence. So this was a pretty big deal. Musk, as you know, is the king of AI due to his company OpenAI, which is the creator of that popular ChatGPT bot. OpenAI got a huge investment earlier this year from Microsoft, like massive, and it’s growing like crazy.
Musk told Ark Funds boss Cathie Wood that he was the man behind OpenAI and the guy who named the company. He was also the one who poached Ilya Sutskever from Google and got him to work at OpenAI. The move, however, reportedly made Larry Page, co-founder of Alphabet Inc., not want to be friends with Musk anymore.
Today, Musk has no stake in OpenAI and said it’s not open-sourced anymore. It’s all about that profit now. But Musk prefers open source and thinks OpenAI should change its name to “closed for profit and AI.”
Musk’s AI company, X.AI, just dropped its chatbot called Grok. He said the bot is all about chasing the truth. He sees it as the next step in AI. Musk also wants Grok to be a stand-up comedian, but for AI. It’s what sets it apart from the pack.
Musk is also the man behind Tesla Inc., a big name in AI. Ark Funds has been quick to point this out and Musk confirmed it. Tesla is at the top of the AI game. That’s why it’s a top holding in the Ark Innovation ETF and the Ark Autonomous & Robotics ETF. Oh, and it’s the sixth-biggest holding in the Ark Next Generation Internet ETF.
That’s just the tip of the iceberg with AI and Musk. The future is now.
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